Webinar

Scenarios, Contingency Planning, & Simulation to Achieve Your Goals & Strategy

The world is changing very rapidly. Planning and budgeting for either one expected outcome or the sum of the probabilities of several outcomes,  no longer makes sense. Accountants must help their organizations and their clients think about several scenarios. It is more important to be prepared to adapt to different scenarios than to try and pick out one scenario. Contingency Planning usually deals with one issue rather than a variety of potential outcomes, and it is extremely important to deal with that issue because that one issue can have a material impact on your organization. We will also discuss “Simulations” which involves specialized software for complex issues like designing a new factory or evaluating oil deposits thousands of feet underground. Simulations also occur when accountants have to do forecasts for mergers, estimated taxes, quarterly and annual estimates, etc.

Objectives

*Be able to sell executives on why creating a single plan for a whole year is not practical in a fast changing world

*Understand that accountants are frequently creating financial simulations

*Understand difference between contingency planning simulations and scenarios and where they overlap

*Understand why organizations need to create several scenarios of potential future outcomes

*Understand components of scenarios and how to make them simple or complex depending on the organization and the scenario

Highlights

*Contingency Planning

*Simulations

*Risk Management

 *Business Strategy

Additional Information

Designed For

Anyone looking to become more focused and productive in their work and in their life

Vendor

ACPEN

Advanced Preparation

None

Prerequisite

None

Field of Study

Finance

Course Number

171348433

Level of Knowledge

Overview

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