Predictive Accounting ON DEMAND
Available Until
Your Desk
3.0 Credits
Member Price $87.00
Non-Member Price $100.00
Overview
This course explores how accountants can use financial data, statistical modeling, and artificial intelligence to forecast future outcomes and guide strategic decision-making. The course contrasts historical accounting with predictive methods, emphasizing tools like time series forecasting, machine learning, and scenario analysis. This course covers practical applications such as predicting bad debts, detecting fraud, and improving budgeting through rolling forecasts and ERP integration. Additionally, it addresses the importance of data quality, ethical considerations, and effective communication of predictive insights to stakeholders.
Highlights
Data foundations for prediction. Descriptive and diagnostic analytics review. Forecasting techniques in accounting. Predictive modeling with machine learning. Applications of predictive accounting. Tools and platforms for predictive accounting. Risk, ethics, and limitations. Communicating predictive insights.
Prerequisites
None.
Designed For
CPAs, CEOs, CFOs, controllers, and other financial managers.
Objectives
Recognize the trends causing the shift to predictive accounting. Recall the components needed for training a prediction model. Recognize which metrics are forecasted using predictive accounting. Specify the accuracy assessment methods used by predictive models. Recall the features of predictive accounting systems. Recognize how a time-series forecasting model is used. Recall the risks associated with using predictive models. Recognize the software functionality that supports predictive accounting. Specify the role of data normalization in predictive accounting. Recall how forecasted sales accuracy can be improved. Recognize how supervised learning can support predictive accounting. Recall the ethical considerations related to the use of predictive accounting.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $100.00
Member Price $87.00