The process of estimating future financial outcomes based on historical data and analysis, crucial for business planning.

Creating a plan for future income and expenses, helping businesses allocate resources effectively and control spending.

Evaluating historical data to identify patterns or trends, aiding in making informed predictions about future performance.

A statistical method used to analyze data points by creating averages of different subsets, smoothing out fluctuations.

Using Microsoft Excel to create financial models that simulate business scenarios and forecast financial outcomes.

A financial statement showing a company's revenues and expenses over a specific period, indicating profitability.

A snapshot of a company's financial position at a specific point in time, detailing assets, liabilities, and equity.

A financial statement that tracks the flow of cash in and out of a business, crucial for liquidity management.

The three main financial documents: income statement, balance sheet, and cash flow statement, used for financial analysis.

The underlying assumptions made when creating a financial forecast, impacting its accuracy and reliability.

A representation of a business's financial performance, often built in Excel, used for forecasting and decision-making.

Estimates of future profits based on revenue and expense forecasts, essential for assessing business viability.

Costs incurred in the process of generating revenue, categorized as fixed or variable, impacting profitability.

The total income generated from business operations before any expenses are deducted, a key indicator of performance.

The process of inspecting and interpreting financial data to derive insights and inform business decisions.

Effectively communicating financial forecasts to stakeholders, highlighting key findings and implications for strategy.

The process of creating a comprehensive plan for managing finances to achieve business goals and objectives.

Evaluating potential risks that could impact financial forecasts, helping businesses prepare for uncertainties.

Developing different scenarios based on varying assumptions to understand potential outcomes and impacts on forecasts.

The graphical representation of financial data to facilitate understanding and analysis, often used in presentations.

A reflective practice where learners evaluate their understanding and mastery of course concepts, enhancing learning.

A comprehensive task requiring students to apply all learned concepts to create a detailed financial forecast for a fictional business.

The ability to convey financial information clearly and effectively, essential for presenting forecasts and analyses.

The process of making informed choices based on financial forecasts and analysis, critical for business success.