Financial Planning and Forecasting

  • Credits: 2
  • Format: Self-Study eBook
  • Field of Study: Business Finance
  • Author/Speaker: Matt Evans
Course ID: Advanced Preparation: Experience Level:
ME-102.21 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© Jan 2020 General Understanding of Business Finance N/A
COURSE DESCRIPTION

Financial planning is a continuous process of directing and allocating financial resources to meet strategic goals and objectives. The output from financial planning takes the form of budgets. The most widely used form of a budget is Pro Forma or Budgeted Financial Statements. The foundation for Budgeted Financial Statements is Detail Budgets. Detail Budgets include sales forecasts, production forecasts, and other estimates in support of the Financial Plan. Collectively, all of these budgets are referred to as the Master Budget. We can also break financial planning down into planning for operations and planning for financing. Operating people focus on sales and production while financial planners are interested in how to finance the operations.

Therefore, we can have an Operating Plan and a Financial Plan. However, to keep things simple and to make sure we integrate the process fully, we will consider financial planning as one single process that encompasses both operations and financing.

Who Should Attend:
  • All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:
NASBA