CPE Course Predicting the Future: 21st Century Budgets and Projections

June 21, 2018

8:30am — 4:15pm

Location Manchester

Member Price $279.00
Non-member Price $379.00

Curriculum Accounting & Audit

Field of Interest Accounting (General)

Level Intermediate

Designed For

This seminar is for those who prepare, review, evaluate and use budgets and projections.

8.00 credits

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Objective

We all make predictions in our personal and professional lives.  We base our decisions to marry, buy a house, launch a new product or hire staff on expectations about the future.  How can we use best practices and current research to improve our ability to predict the future?  We will examine current best practices in forecasting to help us prepare better budgets and projections.  We will also examine budgeting pitfalls and ways to avoid budget traps.  We will discuss the risks that cause actual results to vary from our predictions and discuss methods to deal with both known and unknown risks.

Highlights

Making Predictions
• Why great predictions are not intuitive
• How to separate correlation from causation
• How to recognize and overcome bias
• Who is Thomas Bayes and why he matters
Becoming a Great Predictor
• Why the ability to doubt helps
• Why it is better to be a fox than a hedgehog
• How non-conformists change the world
• Learn from the past without hindsight bias
Creating Great Projections and Budgets
• Why the many purposes and types of budgets and projections cause distortions
• How benchmarking and metrics have changed the budget process
Why Black Swan Risks Matters
• What is Black Swan risk
• Why the risk you don’t know can hurt you
• Protect your company from unknowable risks

Instructors

Richard Karwic, MBA

Richard A. Karwic, MBA, is a management consultant with over 40 years of relevant financial and managerial experience. In addition to 15 years of broad-based management consulting, he has over 15 years of experience as Chief Financial Officer for several diverse businesses in a wide variety of industries. He has worked in over 100 businesses, including several divisions of well-known, Fortune 500 companies. Richard lives in Wethersfield, Connecticut.close

Prerequisites

None

Developer

Executive Education, Inc.

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