This course prepares participants to make more accurate financial forecasts with standard format generally accepted accounting principles (GAAP) financial statements by using business intelligence (BI). Particular focus is on the difference between conventional financial forecasts based on simple growth assumptions and financial forecasts using growth rates derived from data. The course is intended as an applied primer in forecasting using new techniques resulting from the growth in Big Data and BI techniques.

***Please download and open all supporting materials before starting the course videos.***

Learning Objectives
  • Discover how to create a basic set of income statement, cash flow, and balance sheet forecasts
  • Recognize the linkages between different items across the financial statements
  • Identify how changes in growth assumptions impact financial forecasts
  • Explore the use of regression analysis to determine forecast growth rates using outside variables (e.g., GDP and inflation) 
Last updated/reviewed: March 12, 2024

Included In Certifications

This course is included in the following Certification Programs:

15 CoursesData Analytics Professional (DAP) Certification

  1. The Fundamentals of Business Intelligence (BI): What it Does and Why it's so Essential
  2. How is Industry Using Big Data? – A Case Study Reading
  3. Business Intelligence - Data Collection and Cleaning
  4. Business Intelligence - Structuring Data for Analysis
  5. Business Intelligence - Fundamentals of Data Analysis
  6. Business Intelligence - Using Big Data Analytics
  7. Doing Data Analytics In Excel (Hands-on module)
  8. Regressions in Excel (Hands-on module)
  9. Financial Forecasting
  10. Advanced Analytics – Omitted Variables
  11. Advanced Analytics – Fixed Effects
  12. Case Study in Data Analytics
  13. Using Regressions for Forecasting
  14. Financial Forecasting in Excel (Hands-on module)
  15. Blockchain for Business
56 Reviews (359 ratings)

Reviews

4
Anonymous Author
This professor has a lot of great information to share regarding the use of financial forecasts but this course did not allow the time to explore in detail. My expectations was the use of financial forecasting in the actual financial statements. It appeared that the course was different from the description.

4
Anonymous Author
I found the formula's as presented to be a bit intimidating. Reminded me of taking calculus courses in college which always stressed me out. Good overall explanations but would have preferred to see some of the calcs done in excel with functions since I as an accountant use that most often.

4
Anonymous Author
I thought the course was informative and think it would be helpful for someone who plans to be in a role where they will have to consistently look at data and forecast what the potential outcome will be for a company on sales, etc.

3
Anonymous Author
While the course made an effort to do examples of financial forecasting, it would have been helpful for the presenter to actually walk through a problem step by step, and to have a slide of what each variable in formulas mean.

5
Anonymous Author
I liked the use of examples with the regression models and time series forecasts. I think it could be useful to also talk more about the benefits of companies using financial forecasting.

4
Anonymous Author
Course was interesting, and I could have used some more in depth analysis on the math behind the concepts. I am guessing these are covered in another course. Covered the basics well.

Member's Profile
This course has a lot of complex data and calculations for preparing and measuring a forecast. This is a textbook lesson but not real helpful in developing a forecast.

4
Anonymous Author
Was not familiar with the topic and found it helpful. I believe one of the data points (Linear Regression Problem, x2 value for period 1) has an incorrect figure, 1024?

4
Anonymous Author
Good overview for theoretical forecasting principles --not sure that the statistical materials presented are practical for a typical finance manager creating a forecast

3
Anonymous Author
I liked that there was an opportunity to practice some of the mathematical formulas presented in the course but would have preferred some additional practice problems.

4
Anonymous Author
The course was informative. Loved the chart in model 1 regarding the different types of financial modeling. Would have liked additional practice problem.

5
Anonymous Author
The different methods of forecasting were well explained with the conditions to use them. The course was well organized and clear explanation provided.

5
Anonymous Author
His classes are always very good for learning - he packs a lot of info in the allotted time so it is important to pay attention and follow along.

4
Member's Profile
This was a lot of info to digest in a short amount of time. But I liked learning about 5r difference between qualitative and quantitative methods.

5
Anonymous Author
This course provided a good overview of different ways organizations can use financial forecasting. I thought it was interesting and helpful.

2
Anonymous Author
I found this module somewhat confusing and abstract compared to previous modules. Hands-on examples would've helped distill your points.

3
Member's Profile
Good overview of models and high level theories, but would have liked to see some of the examples actually done in Excel or another tool.

4
Anonymous Author
This course gives me a great overview of different types of forecasting method and what to consider in determining which method to use.

5
Anonymous Author
Informative and interesting class. I appreciated the examples but would have liked a walk through on a couple of the problems.

5
Anonymous Author
This was one of my favorite CPE study cases to date. I trade stocks so I think financial forecasting is very important!

4
Anonymous Author
This is a great introduction class to financial analysis. It shows the most commonly used methods with great examples.

4
Anonymous Author
This course helped in understanding the principles of forecasting and explained the steps in the forecasting process.

4
Member's Profile
I felt that this was a very thorough introduction to financial forecasting, with an emphasis on quantitative methods.

5
Anonymous Author
great class Michael, very easy to navigate and get through. Test questions could be a little bit more difficult.

5
Anonymous Author
This course had good, relevant, and useful information which was provided in a concise and understandable way.

3
Member's Profile
Solution for problems - if you can show via formulas with data input or in excel that would be very helpful

3
Anonymous Author
This course covered interesting concepts, but requires sufficient resources to be able to put into practice

4
Member's Profile
A good introduction to forecasting methods. It was mostly basic information, but a good review overall.

5
Anonymous Author
Michael was clear and concise in his thorough descriptions on the importance on financial forecasting.

5
Anonymous Author
Great overview of forecasting. I appreciate that it includes some examples to try on your own.

4
Member's Profile
Another great course, I enjoyed it, I highly recommend it to others to take this course.

4
Member's Profile
A good overview on this topic; appreciated the high-level nature of this course overall

5
Member's Profile
Excellent, is a great introduction to start and put hands on the data and work with it.

4
Anonymous Author
I appreciated his clarity. If he stumbled on words, he would pause and start over.

4
Member's Profile
Very good video, one of the better topics for discussion that's more interesting

4
Anonymous Author
Good overview of financial forecasting methods. Would recommend for beginners.

5
Anonymous Author
Course was informative and easy to navigate. I would recommend to a colleague.

5
Member's Profile
Fabulous instructor with real examples and practical problems to work through.

5
Anonymous Author
Great stuff as always, Michael. This is a valuable program in data analytics

4
Member's Profile
revisit of regression analysis helpful and correlation aspects of analysis

5
Anonymous Author
Great course, easy to follow, and full of examples that are helpful.

5
Anonymous Author
this was a useful introduction to tools that I use on a daily basis

4
Member's Profile
Technical but presented well. Included much detailed information.

3
Member's Profile
Would be good to go through examples but information was helpful.

5
Anonymous Author
Professor did a good job explaining in depth of how to forecast.

5
Anonymous Author
Good course. Would recommend to all interested in the topic.

5
Member's Profile
Good course.... does a good job of introducing basic concepts.

4
Anonymous Author
I thought it gave a good overview of the different models.

5
Anonymous Author
Very good class, informative materials and well presented

5
Anonymous Author
The modules were very helpful to understand the material.

3
Anonymous Author
The course helped to understand financial forecasting.

5
Member's Profile
Everything about this course was absolutely fantastic.

5
Anonymous Author
This course was very informative. Great information.

5
Member's Profile
Great overview of forecasting methods and formulas.

4
Anonymous Author
i liked how he explained the material. great work

5
Anonymous Author
Very informative

Prerequisites
Course Complexity: Intermediate

No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Financial Forecasting2:49
  Module 1: Overview of Forecasting11:47
  Module 2: Quantitative Forecasting12:13
  Module 3: Dealing with Trends in Demand7:39
  Module 4: Evaluating Forecasts9:40
CONTINUOUS PLAY
  Financial Forecasting44:22
SUPPORTING MATERIALS
  Slides: Financial Statement Forecasting Using Business IntelligencePDF
  Financial Statement Forecasting Using Business Intelligence Glossary/IndexPDF
REVIEW AND TEST
  Review Questions quiz
 Final Examexam