Financial Forecasting
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This course is aimed at financial officers, team leaders and professionals. On completion learners will be able to explain financial forecasting, the challenges that come with it and the different methods.
Course Level: Intermediate
Accreditation: CPD Certified
Certificate: Self printed
Description
The course begins with describing the separate but also linked processes of planning, budgeting and forecasting and their definitions in more detail. Five types of budget are reviewed: master, cash, capital expenditure, operating and departmental budgets and four steps to take to ensure that budgets and forecasts are realistic.
A seven stage budgeting and forecasting process is described, consisting of the sales budget, the production budget, the materials purchases budget, the budgeted labour and overhead costs and expenses, the cash budget, the master budget, the financial forecast. Next the components of a financial forecast are reviewed: the profit and loss account, the balance sheet and the cash flow statement.
The module emphasises the importance of accurate financial forecasting and its many benefits to an organisation, reviewing briefly the different qualitative and quantitative methods and techniques used, including the Delphi method, market surveys and reference class forecasting for example. The module concludes with a review of the challenges of accurate financial forecasting.
Learning Objectives
On completion of this course, learners will:
- Understand methods of financial forecasting
- Be able to explain the importance of accurate financial forecasting
- Be able to describe the challenges in creating accurate financial forecasts
- Be able to evaluate methods of financial forecasting
- Be able to understand how the key components of financial forecasting are used
Accreditation
The content of this course has been independently certified as conforming to universally accepted Continuous Professional Development (CPD) guidelines.
Certification
On successful completion of this course, you will be awarded a Virtual College certificate which you will be able to download and print immediately on completion.
Duration
This course will take approximately one to one and a half hours to complete, depending on learning speed.
Target Audience
This course is aimed at team leaders and professionals, including finance officers.
Entry Requirements
There are no specific entry requirements for this course.
What you'll learn
- Understand methods of financial forecasting
- Be able to explain the importance of accurate financial forecasting
- Be able to describe the challenges in creating accurate financial forecasts
- Be able to evaluate methods of financial forecasting
- Be able to understand how the key components of financial forecasting are used
Suitable for
- This course is aimed at team leaders and professionals, including finance officers
Certification
Self-Printed Certificate Option
Upon completion of the course, a digital certificate will be available to download instantly.
Recent Reviews
17th July 2025
Very easy to follow well constructed…
Very easy to follow well constructed course
17th July 2025
The system was easy to use and things…
The system was easy to use and things were clear throughout
17th July 2025
easy to complete
easy to complete very informative
17th July 2025
Very informative
Very informative. Well navigated and explained in ways I could understand with out jargon that can often get in the way.
16th July 2025
Full of the correct info and to the point
Was very easy to operate and the course was full of really good information Could use a better functionality for the partially sighted individuals like myself
16th July 2025
Very productive training
I’ve successfully completed the online Level 3 Food Hygiene training and found it highly informative and relevant to real-world food safety operations. The course provided a strong understanding of HACCP principles, food safety hazards, legal responsibilities, and how to implement effective hygiene management systems in a supervisory role. It also reinforced the importance of leading by example and maintaining high standards in every part of the food preparation and service process. I feel more confident in supervising food handlers and ensuring compliance with food safety regulations.
16th July 2025
Great experience using Virtual College
Great experience using Virtual College. Very informative training package and easy to follow. Final exam was thorough and completing it gave me confidence in the subject. Will most certainly be looking at other available courses.
14th July 2025
Excellent courses on offer - wide choice of courses to get certificates in.
Reading through - everything was explained very well. I was updating my Allergen Certificate for my workplace. I know everything I go through in the Virtual College course is right up to date. You can take your time to complete the course - all of the courses offered do not need to be completed in one Whole session. Excellent courses on offer.
13th July 2025
Easy to access
Easy to access You can start and stop if you want a break. Very easy to understand
13th July 2025
Human trafficking
the over all training was very easy to understand and informative
Excellent
4.7 out of 5
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