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JOURNAL OF APPLIED BUSINESS AND ECONOMICS
Integrating Financial Statement Modeling and Sales Forecasting Using EViews
Author(s): John T. Cuddington, Irina Khindanova
Citation: John T. Cuddington, Irina Khindanova, (2011) "Integrating Financial Statement Modeling and Sales Forecasting Using EViews," Journal of Applied Business and Economics, Vol. 12, Iss. 6, pp. 100 - 120
Article Type: Research paper
Publisher: North American Business Press
Abstract:
This paper shows how to integrate pro forma financial statement analysis and sales forecasting using the EViews software package. The integration enables us to use the forecast of future sales and the associated standard errors to carry out an empirically-based Monte Carlo simulation of the future paths of all income and balance sheet items in the pro forma statements. This provides useful additional information to the financial analyst. Not only does he/she obtain expected future values for the various pro forma statement items, there are also confidence intervals that can be used to assess the uncertainty of the financial forecasts.
