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  • Reading time:7 mins read

Learn how to forecast and budget from a certified public accountant (CPA)

What you will learn

Forecasting objectives

How to construct a budget

How to create a proforma income statement

How to create a cash budget

Ho to make a proforma balance sheet

How to use a percent of sales method

Description

This course will cover the concepts of forecasting and budgeting from a finance perspective.

The course includes many example problems, both in presentation form, and many using Excel worksheets. Each Excel worksheet problem will include a downloadable Excel worksheet that has at least two tabs, one having the answer, the second including a preformatted worksheet that can be populated in a step-by-step process along with the instructional video.

To forecast and budget we need to make predictions and projections about the future. This is often done by first taking information from the past as our starting point. The starting point will generally be our prior financial statements, including our prior balance sheet, income statement, and statement of cash flows.

We will then consider changes that we expect to take place, including those we plan on making and changes to the economy and business environment.

When constructing our budgets will need to go in a systematic order. We usually need to start with a sales projection because other projections will depend on it.

Our budget process can then consider the production plan. We can then move to the capital budget, cash budget, and budgeted income statement. The budgeted income statement is our primary performance statement.

Once we have the beginning balance sheet and the projected income statement, we can create the projected balance sheet, the statement representing where we expect to be at the end of the budgeted time frame.

English

Language

Content

Introduction

405 Forecasting Objectives

410 Pro Forma Income Statement

415 Cash Budget

420 Pro Forma Balance Sheet

425 Percent of Sales Method

Practice Probs – Forecasting & Budgeting

414 Sales Projection – Multiple Scenarios

416 Estimated Net Sales

418 Projected Units to be Produced

423 Calculate Cost of Goods Sold Using FIFO & LIFO

424 Calculate Cost of Ending Inventory LIFO & FIFO


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427 Schedule of Cash Receipts

428 Schedule of Cash Receipts – Multiple Scenarios

430 Schedule of Cash Payments

431 Schedule of Cash Payments – More Complex

432 Production Schedule & Schedule of Cash Payments

434 Cash Budget & Cash Receipts Schedule

435 Cash Budget, Cash Receipts Schedule, Cash Payments Schedule

437 Required New Fund Formula All Balance Sheet Accounts Change Relative to Sale

438 Required New Fund Formula – Current Assets & Liabilities Change Relative to

Excel Probs – Forecasting & Budgeting

414 Sales Projection – Multiple Scenarios

416 Estimated Net Sales

418 Projected Units to be Produced

421 Calculate Cost of Goods Sold Using FIFO

423 Calculate Cost of Goods Sold Using LIFO & FIFO

427 Schedule of Cash Receipts

428 Schedule of Cash Receipts – Multiple Scenarios

430 Schedule of Cash Payments

431 Schedule of Cash Payments – More Complex

432 Production Schedule & Schedule of Cash Payments

434 Cash Budget & Cash Receipts Schedule

435 Cash Budget, Cash Receipts Schedule, Cash Payments Schedule

436 Cash Receipts, Cash Payments, & Cash Budget

437 Required New Fund Formula – All Balance Sheet Accounts Change Relative to Sa

438 Required New Fund Formula – Current Assets & Liabilities Change Relative to