With constant market fluctuation and an unpredictable supply chain, sometimes it can be difficult to project where your business will be tomorrow.
With constant market fluctuation and an unpredictable supply chain, sometimes it can be difficult to project where your business will be tomorrow. That’s where financial forecasting comes in. The data you have today can be used in various ratios and equations to create helpful financial estimates for your business. You can also use different aspects of financial and managerial accounting to better present your finances to potential and existing stakeholders. Streamlined financial reporting, planning, and analysis techniques can improve your business’s competitive strategy.
In this Financial Planning and Analysis for Nonfinancial Executives course, you’ll learn how costing, pricing, and budgeting can be used when creating estimates and projections. You’ll also learn about variance analysis and financial performance management, as well as how financial and managerial accounting work together. You’ll use important financial ratios and forecasting techniques that lead to improved business analysis and performance.
Learning Objectives
- Understand financial forecasting
- Interpret financial ratios
- Explore the budgeting process
- Examine financial performance management
What You'll Learn
- Apply costing, pricing, and budgeting techniques to create financial estimates and projections
- Perform variance analysis and manage financial performance measurement
- Combine financial and managerial accounting to present finances to stakeholders
- Interpret key financial ratios for nonfinancial executives
- Use financial forecasting techniques to improve business analysis and performance
- Explore the budgeting process to support competitive strategy
Key Takeaways
- Financial forecasting uses the data you have today, applied in ratios and equations, to create helpful financial estimates for your business.
- Costing, pricing, and budgeting can be used when creating estimates and projections.
- Financial and managerial accounting work together to better present finances to potential and existing stakeholders.
- Variance analysis and financial performance management help measure and improve business performance.
- Streamlined financial reporting, planning, and analysis techniques can improve a business's competitive strategy.
Frequently Asked Questions
Who is this course for?
This course is designed for nonfinancial managers and executives who want to use financial planning and analysis techniques to improve business analysis and performance.
What topics does this course cover?
It covers costing, pricing, and budgeting; variance analysis and performance measurement; combining financial and managerial accounting; financial ratios for nonfinancial executives; and financial forecasting.
What will I be able to do after taking this course?
You'll be able to understand financial forecasting, interpret financial ratios, explore the budgeting process, and examine financial performance management.
How is the course structured?
The course includes an introduction, lessons on costing/pricing/budgeting, variance analysis and performance measurement, combining financial and managerial accounting, financial ratios, financial forecasting, and a Test Your Knowledge section.
Why is financial forecasting useful for my business?
With constant market fluctuation and an unpredictable supply chain, financial forecasting uses the data you have today in ratios and equations to create helpful financial estimates when projecting where your business will be.
Transcript
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Is your company ready for anything? A great plan goes a long way, and many factors can be anticipated with financial forecasting. Welcome to Knowledge City's course on financial planning and analysis for non Financial executives. This course will help you improve future odds of success by performing financial analysis on current data, Bring in solutions from all possible avenues by building on combinations of finance and accounting tools and techniques, and universalize the way you interpret business results with key financial ratios. Learn how to predict future financial outcomes of your business with financial planning and analysis for nonfinancial executives.
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