Forecasting recovery:

If you own a business, you are familiar with uncertainty and risk—and likely with many of the tools used to mitigate it.

The ongoing COVID-19 pandemic has introduced more unpredictability—even as epidemiologists warned of a second and third wave—increasing the value of financial modelling.

Forecasting can make the difference between surviving a global crisis and thriving in the next normal.

"This isn't a planning exercise. This is a practical exercise." says BDO's Financial Advisory Services leader, Mike Devonshire.

In our video, Mike walks through the key benefits of maintaining a robust financial model in uncertain times, including:

• decision-making approaches (data-driven vs. intuitive)
• financial models (high-level, directional vs. detailed, operational)—and their uses
• financial forecasting—and how to adjust key assumptions to make your model effective during a global crisis
• KPIs—and how to refine them for changing times
• capital-raising cycles—and the importance of identifying and mitigating risk during the COVID-19 pandemic
• M&A transactions—and the importance of modelling the impacts of coronavirus on cash flow and lending covenants