About This Chapter
Business & Financial Forecasting - Chapter Summary and Learning Objectives
In this chapter, we will go over some of the basics of business and financial forecasting. You'll explore the forecasting process and why it's important. Some of the other topics that will be covered in the lessons include:
- Different models and methods of business forecasting
- Steps involved in business forecasting
- Application of ratios and other mathematic information to financial forecasting
- How bias and errors affect forecasting
|What is Forecasting in Business? - Definition & Models||Evaluate the different types of models that are used in forecasting in business.|
|Business Forecasting: Methods & Analysis||Consider how business forecasting methods are applied and the correct way to analyze them.|
|Important Ratios in Financial Forecasting||Analyze ratios related to components such as leverage, productivity and value.|
|Accuracy & Error in Financial Forecasting||Explain forecast accuracy and the different types of error that can affect a model.|
1. What is Forecasting in Business? - Definition & Models
Forecasting in business involves the use of data and tools to make informed predictions about business metrics and developments. Explore the definition and models of business forecasting, and learn about qualitative and quantitative forecasting.
2. Business Forecasting: Methods & Analysis
Business forecasting is the process of analyzing data and trends to predict future business metrics and developments. Learn about financial forecasts and discover qualitative and quantitative methods in business forecasting.
3. Important Ratios in Financial Forecasting
Due to variation, financial ratios are virtually meaningless on their own and need to be compared to other ratios. Minding ratio considerations, learn about profitability, debt, and investment ratios, all of which are common in financial forecasting.
4. Accuracy & Error in Financial Forecasting
Financial forecasting is the process of evaluating potential future income and expenses. Understand the significance of accurate and error-free forecasts through examples of inaccuracies, and learn how to mitigate against error.
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Other chapters within the Accounting 302: Advanced Accounting course
- Business Ownership Types
- Key Accounting Concepts
- Journals & Ledgers in Accounting
- Accounting Equations & Formulas
- Financial Statements, Balance Sheets & Income Statements
- Analyzing Financial Statements
- Financial Statement Ratios
- Accounting for Inventory
- Accounting for Depreciation
- Accounting for Compensation, Taxes & Liabilities
- Adjustments & Closing Entries
- Corporate Accounting
- Departmentalized Accounting
- Taxation for Corporations
- Required Assignments for Accounting 302
- Studying for Accounting 302