People really loved the free video lecture we posted on Forecasting Techniques, so we thought we’d round it out and give you the complementary Deep Dive video lecture on the topic. Get out your notes and highlighters!
Welcome back Prof. B Douglas Clinton, CMA, CPA, of Northern Illinois University. Last time, he provided a thorough-but-quick rundown of common forecasting techniques used by Certified Management Accountants. This time, he devotes nearly 15 minutes to walking you through some examples and problems.
Roll tape …
Prof. Clinton does a great job walking us through several real-word examples of how to use common forecasting techniques.
This Deep Dive and its broader lesson introduce some of the forecasting techniques that are commonly used in the creation of budgets. The focus is on expected value and joint probability along with the forecasting method most likely to be tested: regression. This lesson also covers additional forecasting tools, such as the cumulative average time learning model, and several time series analysis methods, including exponential smoothing. Monte Carlo analysis is also discussed.
After studying these lectures and their accompanying texts, slides and practice questions, you should be able to:
We hope this was helpful as you prepare for the upcoming CMA Exam.