Financial Modeling Institute (FMI)

We are excited to share a valuable resource provided by our partner, the Institute of Chartered Accountants in England and Wales (ICAEW). This document, “20 Principles for Good Spreadsheet Practice,” offers essential guidelines for creating efficient, accurate, and reliable spreadsheets. Both Financial Modeling Institute and ICAEW are committed to promoting best practices in financial modeling and empowering professionals worldwide. Together, we aim to elevate financial modeling skills and provide chartered accountants with the tools they need to excel in their careers. #FinancialModeling #ICAEW #SpreadsheetBestPractices #ProfessionalDevelopment #Finance

Looking to distinguish yourself in your career? Get accredited as a Chartered Financial Modeler (CFM). Scholarships are available for the CFM, providing up to a 50% discount on the standard exam fee. The deadline to apply for the next round is July 31, 2024 – don’t miss this opportunity! Showcase your problem-solving skills and creativity with the CFM accreditation, the only certification based on real-world financial modeling challenges. Applications are accepted up to three months before any open CFM exam date. Apply Now: https://hubs.la/Q02H8Tdy0 #financialmodeling #financialmodeler #scholarship #application #careergrowth

In this session Paul Smith, CFM will introduce everyone to the most "Common Modeling Errors and How to Avoid Them".

Get Ahead. Get Faster. Get Confident. Get Noticed. Get Accredited. Get $100 OFF. Validate your advanced financial modeling knowledge and technical skills with the AFM accreditation. AFM accreditation holders have learned, and demonstrated that they have acquired the skills and discipline to build best-in-class models that avoid all the errors commonly found in models Discount Code: Get100off Learn more: https://lnkd.in/g8ZpaAaM

This article was originally shared in the FMI Community by Craig Hatmaker, Founder of Beyond Excel (BXL).

We are pleased to welcome Paul Smith, CFM, Financial Modeling Specialist at FMI to present an “Introduction to 3 Statement Financial Modeling.” In this webinar, Paul will cover: - How the 3 statements work independently - How the 3 statements depend on each other - How model users view the statements holistically Register Now. #financialmodeling #accreditation #event #community

Financial Modeling Institute (FMI) is delighted to announce its partnership with BFI Insights, a leading provider of Project Finance, Financial Modeling, Investment Advisory, Data Analysis, and Business Intelligence services. BFI Insights is dedicated to preparing finance and data professionals for the future of work through best-in-class learning and development opportunities. In partnership with FMI, BFI Insights’ students, clients and network have the opportunity to sit for FMI’s Advanced Financial Modeler (AFM) accreditation exam, honing the practical financial modeling skills most valued by clients and stakeholders. FMI extends a warm welcome to the community of BFI Insights. We look forward to supporting your journey towards career excellence. #financialmodeling #bfiinsights

Advanced Financial Modeler (AFM) accreditation holders are able to build 3-statement financial models that includes seven supporting schedules. AFMs know the content so well that they can construct a financial model in under four hours. Completing a proctored exam under real-world time constraints is what validates the skills of AFM accreditation holders. The Advanced Financial Modeler program covers 10 topics that prepare candidates for the AFM accreditation exam. 1. Model Planning & Design - Financial modeling essentials and the AFM Exam, focusing on the development, planning, and design of effective financial models. 2. The Front End - The different sections in the "Front End" of financial models, showing how to create a cover page, executive summary, apply key formatting concepts, and build scenarios. 3. Revenue - How to forecast revenues and build a company’s revenue schedule, covering various methodologies, incorporating capacity constraints, and schedule construction. 4. Costs - Forecasting various types of costs and building a company's cost schedule, focusing on proper forecasting methods, understanding operating leverage, and efficient financial statement creation. 5. Depreciation - Building a company's depreciation schedule, covering methodologies for depreciating fixed assets, structuring schedules, utilizing Excel functions for Capex forecasts, and linking outputs to financial statements. 6. Income Tax - Building a company's income tax schedule, emphasizing its importance, causes of deferred tax, construction of the schedule, and linkage to financial statements. 7. Working Capital - Building a company’s working capital schedule, explaining the differences from other assets and liabilities, assumptions, and calculations needed for forecasting. 8. Capital Structure - The purpose, components, and construction of debt and equity schedules in a capital structure, highlighting various types, modeling cash, and key considerations for the revolver. 9. Financial Statements - Building the three financial statements: Income Statement, Cash Flow Statement, and Balance Sheet. 10. Outputs and Troubleshooting - Finalizing financial models, focusing on troubleshooting balance sheet errors, constructing the executive summary, and formatting for printing. #financialmodeling #financialmodel #excel #finance #skills

Repeating data and then using it in the formulas makes your formulas cleaner and easier to audit. For example, repeat key variables and assumptions on each relevant sheet instead of directly referencing another sheet. This practice ensures that all necessary information is available in one place, making your calculations more straightforward and transparent. Why? 1. Clarity: Reference cells are directly above the calculation cells, so formulas can be quickly understood while auditing the formula. 2. Flexibility: Updating data in one place updates all related formulas automatically. 3. Error Reduction: With data immediately before the formula, there is a lower chance of linking to an incorrect cell and a higher chance of catching an error. 4. Consistency: Maintain consistency across the entire model. Repeating data in financial modeling enhances reliability, transparency, and maintainability. Follow this practice to build robust and accurate models! #FinancialModeling #BestPractices #FinancialTips #ModelingAccuracy #DataTransparency