Forecasting in a Time of Uncertainty (COVID-19)
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Course Details

Overview of Topics

  • Revisiting the Purpose of Forecasting10 mins
  • Becoming more Agile17 mins
  • A Methodology for Agile Forecasting28 mins
  • Tools for Forecasting in Times of Uncertainty31 mins
  • How do we know our data is normally distributed?38 mins
  • Relative Forecasting53 mins

Course Description

In the current economy, there is a need to do more with less. As a result, analysis has to be quick, efficient, and provide meaningful information. Accountants are creating more forecasts because of the fast-changing business environment, yet have less time to create forecasts.

The days of “last year plus 3%” in forecasting are gone. The COVID-19 pandemic as pretty much destroyed planning and forecasting as we know it. So what do we do? And how can we forecast in a time of uncertainty? Our “Forecasting in a time of uncertainty” CPE webinar will help you build a path through the fog of uncertainty. We cannot solve all your problems, but we can give you some tips and guidelines to help you move in the right direction.

Our webinar will cover topics including:

  • Revisiting the purpose of forecasting
  • The problems of traditional approaches to forecasting
  • Applying Agile principles to forecasting
  • Criticisms of the Agile approach to forecasting
  • Identifying the Levers of Performance 
  • Using simulation to test possible and likely outcomes
  • Using Relative Forecasting

Forecasting in a time of uncertainty” will help you become more responsive and adaptable in your forecasting methods and it will help you stress-test a wide range of possible outcomes, but there are no magic solutions.  Forecasting in a time of uncertainty is, by definition, unpredictable. This course will not give you a definite prediction – no one can do that – but it will help you get better at forecasting.

Webinar Qualifies for

  • 1 CPE credit of Finance for all CPAs
  • 1 CPD credit (Verifiable) for Canadian CPAs
  • 1 General Educational credit for Tax Professionals/Bookkeepers/Accountants

Learning objectives

  • To identify the purpose of forecasting
  • To identify the problems of traditional approaches to forecasting
  • To identify ways of becoming more agile in your forecasting
  • To recall the Principles for Agile forecasting
  • Ti recall the Methodology for Agile Forecasting

About Presenter

Ross Maynard

Managing Director,Ideas2Action Process Excellence Ltd

ross@ideas2action.co.uk

My philosophy is to inspire, challenge and support change. I have nearly 30 years experience as a business author and consultant. I write the content of online business courses for Nelson Croom Ltd - www.accountingcpd.net.

More courses are in production for publication in 2019, including two bringing the Agile philosophy to planning and accounting. I also write and deliver webinars for clients, with the "Innovation Masterclass" and "Creative Problem Solving" for ACCA in the summer.  As a consultant, I specialise in process improvement based on the Lean and Agile philosophies. I facilitate improvement teams and provide expertise in performance measurement and management; problem solving; and process mapping. 

Ideas into Action was founded in 1997 by Ross Maynard. Ross is a Fellow of the Chartered Institute of Management Accountants with over 20 years experience in organisational development with organisations of all sizes. The business is incorporated as Ideas2Action Process Excellence Ltd, registration number SC523801. We specialise in process analysis and improvement and lean finance, offering training, consultancy and facilitation of process improvement teams.

Ross is author of “Successful Business Growth” published by Hodder and Stoughton, in 1998; as well as many published articles on business improvement and lean management. Ross is an NLP Master Practitioner.

Review Questions

  • Question 1 : 00:15
  • Question 2 : 00:30
  • Question 3 : 00:45
  1. Which of the following statements about the purpose of forecasting is correct?
  2. Which of the following are a key feature of an Agile approach to forecasting?
  3. Which of the following statements best describes Relative Forecasting?
  1. Which of the following issues is a problem with traditional approaches to forecasting
  2. Which of the following statements best defines the Agile approach to forecasting?
  3. Which statement best describes the Scrum methodology?
  4. What is the problem in using the RANDBETWEEN formula from Microsoft Excel in a forecasting simulation?
  5. Why should we use the Poisson Distribution to model demand in a forecasting simulation in times of uncertainty

FAQ

  • myCPE self-study courses are online.
  • The self-study format allows you to access the material online 24/7 and study at your own pace.
  • As per NASBA guidelines, you have one year from date of registration to complete each program.
  • Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
  • Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
  • Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.
  • These are Live recorded presentations converted into Self Study (On-Demand Videos).

Refund/Cancellation Policy

  • For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
  • Please email to   help@my-cpe.com  in case of any self study program queries.

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NASBA Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

On-Demand Webinars

Revenue – Five Steps to Recognition
Wednesday, July 29, 2020 View Details/Register
GUIDE TO DEPRECIATION UNDER THE TCJA
Wednesday, July 29, 2020 View Details/Register
PAYROLL FRAUD INFORMATION AND DISCUSSION
Wednesday, July 29, 2020 View Details/Register
TAX IMPLICATIONS AND PLANNING DUE TO COVID-19
Tuesday, July 28, 2020 View Details/Register
UBIT Under The TCJA
Tuesday, July 28, 2020 View Details/Register
Tax Planning Under Tax Cuts & Job Act : 10 Tips to Reduce Taxes for your Clients
Tuesday, July 28, 2020 View Details/Register
Tax Consequences on the CARES Act – Overview of major tax issues from the CARES Act and related notice including planning tec
Monday, July 27, 2020 View Details/Register
CECL Overview
Monday, July 27, 2020 View Details/Register
Accounting for Business Combinations Overview
Monday, July 27, 2020 View Details/Register
Accounting Principle Changes
Monday, July 27, 2020 View Details/Register
CIRCULAR 230
Monday, July 27, 2020 View Details/Register
UNDERSTANDING THE ENTITIES: PLANNING AND COMPLIANCE
Monday, July 27, 2020 View Details/Register
BEYOND WORKING REMOTELY – CASE STUDIES | BENEFITS | CHALLENGES FOR ACCOUNTING & TAX FIRMS.
Friday, July 24, 2020 View Details/Register
Excel Accountant: Auditing Excel Workbooks
Friday, July 24, 2020 View Details/Register
Excel Accountant: Beyond VLOOKUP
Friday, July 24, 2020 View Details/Register
  • Cost $20
  • CPE Credits 1
  • Subject Area Finance
  • Course Level Basic
  • Instructional Method QAS Self Study
  • Prerequisites None
  • Advanced Preparation None
  • Recorded Date July 28 ,2020
  • Published Date July 28 ,2020
  • Who should attend? Finance Pros Accountant CPA - Small Firm CPA - Mid Size Firm Accounting Firm Young CPA CPA in Business Entrepreneurial CPA Accounting Practice Owners Finance Director Senior Accountant VP Accounts Accounts Director VP Finance Chief Accounting Officer Entrepreneurial Accountant Accounting Managers Staff of Accounting Firm
  • Handout Material Download
  • Key Terms Download

On-Demand Webinars

Revenue – Five Steps to Recognition
Wednesday, July 29, 2020 View Details/Register
GUIDE TO DEPRECIATION UNDER THE TCJA
Wednesday, July 29, 2020 View Details/Register
PAYROLL FRAUD INFORMATION AND DISCUSSION
Wednesday, July 29, 2020 View Details/Register
TAX IMPLICATIONS AND PLANNING DUE TO COVID-19
Tuesday, July 28, 2020 View Details/Register
UBIT Under The TCJA
Tuesday, July 28, 2020 View Details/Register
Tax Planning Under Tax Cuts & Job Act : 10 Tips to Reduce Taxes for your Clients
Tuesday, July 28, 2020 View Details/Register
Tax Consequences on the CARES Act – Overview of major tax issues from the CARES Act and related notice including planning tec
Monday, July 27, 2020 View Details/Register
CECL Overview
Monday, July 27, 2020 View Details/Register
Accounting for Business Combinations Overview
Monday, July 27, 2020 View Details/Register
Accounting Principle Changes
Monday, July 27, 2020 View Details/Register
CIRCULAR 230
Monday, July 27, 2020 View Details/Register
UNDERSTANDING THE ENTITIES: PLANNING AND COMPLIANCE
Monday, July 27, 2020 View Details/Register
BEYOND WORKING REMOTELY – CASE STUDIES | BENEFITS | CHALLENGES FOR ACCOUNTING & TAX FIRMS.
Friday, July 24, 2020 View Details/Register
Excel Accountant: Auditing Excel Workbooks
Friday, July 24, 2020 View Details/Register
Excel Accountant: Beyond VLOOKUP
Friday, July 24, 2020 View Details/Register