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Predicting the Future: 21st Century Budgets and Projections

Friday, November 15
 8:30am - 4:30pm

(Check-In 8:25am)

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8.00 Credits

Member Price $274.00

Price will increase by $35 after 11/8

Non-Member Price $399.00

Price will increase by $35 after 11/8

Overview

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 Risk Matters
  • What is Black Swan risk?
  • Why the risk you don't know can hurt you?
  • Protect your company from unknowable risks
  • Designed For

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

    Prerequisites

    Participants should have at least six months of industry or public experience and a thorough knowledge of financial accounting principles and practices. Management experience will be helpful.

    Preparation

    Bring a calculator

    Notice

    By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy. https://www.ctcpas.org/events/cpe-policies

    Leader(s):

    Leader Bios

    Don Minges, The Knowledge Institute

    Don is a fractional CFO who has worked in diverse industries at various development stages. He has experience in profitability enhancement, strategic planning, venture capital, mergers & acquisitions, consulting, turnarounds, economic forecasting, cost accounting and financial analysis. Don has been able to raise equity for several growing firms and has invested equity capital into promising businesses. He has served on the Board of Directors for many firms. He graduated with highest honors from the Fuqua School of Business at Duke.

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    Non-Member Price $399.00

    Member Price $274.00