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 #+title: An Entire MBA in 1 Course - Chris Haroun
 #+HTML_HEAD: <link rel="stylesheet" type="text/css" href="../../../_share/media/css/org-mode.css" />
-#+HTML_HEAD: <link rel="stylesheet" type="text/css" href="./_share/media/css/theme-business.css" />
 
 * Links
 - [[../../course-listings.org][Course Listing]]
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 - [[https://www.udemy.com/course/an-entire-mba-in-1-courseaward-winning-business-school-prof/learn/lecture/4282974#overview][S07:L40 Forecasting, Budgeting, Fiscal Year]]
 
 * Notes
+How do companies make budges
+How do they forcast
+
+** Forecastin is always based on a percentage of sales.
+1. forecast what your sales are going to be
+2. everything else is just a percent of revenue
+
+*** when to companies forecast
+- Public companies forecast quarterly
+- Startups forecast monthly
+   - most startups collapse
+
+***  Fiscal years
+- companies note when a season ends
+- companies also regard their years as "ending" on a different months
+- some companies end on black friday
+  - this is when they make their most money
+- japanese companies end in march
+
+** Ethics
+- be conservative and honest with forecasts
+- jailtime
+  - it's easy to make clerical mistakes
+  - overlook unethical co workers
+- some companies try to take from a different quarter to make up shortfalls
+
+** Cash Conversion Period Ratio
+- *COGS*: Cost of Goods Sold
+  - how much it costs for goods for the day
+
+*** examples
+- $5000 of inventory
+- COGS is $50
+- we have 100 days worth of goods
+
+if we put $1 into inventory it won't be converted into cash for another 50 days
+
+** Inventory to sale conversion period
+\(\text{ISCP} = \frac{\text{average inventories}}{\text{COGS} \cdot 365}\)