How to use Economic and Financial Forecasting Effectively
Understand and implement effective forecasting for better management and financial decisions.Financial forecasting drives the economic process - allowing you to maintain control of future earnings and profits. You cannot reach a destination unless you accurately project how to navigate the storms and calm seas through which you are traveling. This topic will show how to design and implement proper economic and financial forecasting, which are key supports leading to business and personal success. Economic and financial forecasting are not a one-size-fits-all process; there are different processes and concepts that lead to prosperity. This material provides practical instruction about various forecasting methodologies and techniques in a clear and concise manner that gives thorough information, but does not get bogged down in technicalities. You will be shown alternative forecast systems and how most anyone can utilize them for quick, yet efficient, results. We additionally touch on financial modeling and the forecasting role in litigation. No one can totally predict the future, but we will try to get you close - and move you closer to your future success.
AuthorsBrian D. Levine, M.B.A., CPA, Brian D. Levine, MBA, CPA Jersey Tax & Accounting, LLC
Overview of Economic and Financial Forecasting
- Financial Forecasting
- What Is the Goal?
- Characteristics of a Well-Developed Forecast
Essential Elements of a Well-Developed Forecast
- Types of Forecasts
- Where Does the Information Come From?
- Just Financial?
- Other Sources
- Means, Not an End
Making It Work
- Financial Modeling
- Using ExcelŽ
- Flexible Forecast
- Considerations, Goals, and Squeezing Extra
- Make It Workable
- Simple and Complicated as Needed
- But What If the Numbers Don't Work?
- Sanity Check
Understanding It All as a Whole
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