Financial Modeler's Corner

Follow Giles:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:

[02:06] – Current thoughts on AI after recent progress

[03:45] – Daily use of AI and time savings

[05:00] – Mental fatigue and keeping up with AI changes

[08:03] – Calling out AI hype and unrealistic claims

[12:30] – AI training challenges and business demand

[17:57] – “Eye of the storm” phase of AI development

[24:13] – Testing AI-built financial models

[30:52] – Why fixing AI models can take longer than building from scratch

[35:15] – Responsibility to challenge misleading AI claims

[38:41] – Using instructions to improve AI output

[42:59] – Final thoughts on AI, stress, and the future

The Rise of Evergreen Funds for Retail Investors to Enter Private Markets with Rafael

Tue, 21 Apr 2026 05:00:00 -0600

In this episode of Financial Modeler’s Corner, Paul Barnhurst is joined by Rafael Le Saux to explore the real-world challenges of financial modeling, valuation, and how the role is evolving with new tools like AI. They discuss why strong modeling fundamentals still matter, the risks of poorly structured models, and how professionals can improve their skills in a rapidly changing environment.

Rafael Le Saux is a valuation and modeling expert with over 16 years of experience in financial advisory and alternative investments. He leads Valuation and Modeling Services at PwC Deals and Strategy Luxembourg, advising clients on complex valuation matters across multiple asset classes. He has held senior roles at Partners Group and worked across multiple global markets and is actively involved in industry education and research.

Expect to Learn

Why is the model structure important
Common mistakes in financial modeling
How to improve Excel and modeling skills
How AI is used in modeling today
Why analysis and judgment still matter

Here are a few quotes from the episode:

|“Those Frankenstein models built from different sources are always the hardest to fix.” - Rafael Le Saux
“When you work on a bad model, you quickly understand why structure matters.” - Rafael Le Saux

Rafael explains that AI can help speed up work, but it cannot replace thinking. The real value comes from understanding the data and building models that others can trust and use.

Follow Rafael:

LinkedIn: https://www.linkedin.com/in/rafael-le-saux/

Website: https://www.pwc.lu/

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Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[00:34] – Rafael Le Saux Background

[03:04] – Modeling Horror Story

[05:09] – Teaching Financial Modeling

[07:15] – AI in Learning & Education

[09:50] – Using AI in Daily Work

[12:03] – Limits of AI in Analysis

[11:53] – Automation vs Analysis

[15:13] – Luxembourg as a Financial Hub

[17:56] – Regulation & Valuation

[20:31] – Advice for Financial Modelers

Evergreen Fund Growth and the NAV Valuation Challenges Financial Modelers Face with Rafael

Tue, 14 Apr 2026 05:00:00 -0600

In this episode of Financial Modeler’s Corner, Paul Barnhurst sits down with Rafael Le Saux to talk about valuation, modeling, and how the field is changing. They dig into real challenges from working on complex models and what happens when things go wrong. The conversation also covers how private markets are evolving and why valuation is getting harder. It’s a practical look at how modeling connects to real decisions in today’s finance world.

Rafael Le Saux is a valuation and modeling expert with over 16 years of experience in financial advisory and alternative investments. He leads Valuation and Modeling Services at PwC Luxembourg, working across multiple asset classes. He has also worked at Partners Group and across global markets, including France, Australia, and Chile. Alongside his professional work, he teaches, speaks at industry events, and supports the valuation community.

Expect to Learn

Why a strong model structure is critical in real-world projects
The impact of evergreen and semi-liquid funds on valuation risk
Why regulators are increasing scrutiny on valuation practices
How AI is helping improve workflows but not replacing human judgment
How to bridge the gap between auditors and investment teams

Here are a few quotes from the episode:

“Some students are actually afraid of Excel, and you can see that change in just a couple of days.” - Rafael Le Saux
“Financial modeling is not just about numbers. It’s about understanding where you are today and where you’re going tomorrow.” - Rafael Le Saux

Valuation and modeling are becoming more demanding as markets continue to change. Better tools make the work faster, but they don’t replace the need for clear thinking and solid structure. The people who focus on understanding the “why” behind the numbers, not just the output, will be the ones who stand out.

Follow Rafael:

LinkedIn: https://www.linkedin.com/in/rafael-le-saux/

Website: https://www.pwc.lu/

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LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[04:25] – Modeling Horror Story

[06:36] – Teaching Modeling

[09:11] – AI in Education

[11:21] – AI in Daily Work

[16:45] – Luxembourg as a Financial Hub

[19:48] – Regulation & Valuation

[22:55] – Retail Investors & Private Markets

[26:59] – Valuation Frequency

[30:10] – Auditors vs Investment Teams

[33:30] – Excel Tips

[35:20] – World Cup Model

[37:30] – Rapid Fire

[44:00] – Final Advice

What Every Finance Student Should Learn Before Graduating with Riley Edwards

Tue, 07 Apr 2026 05:00:00 -0600

In this episode of Financial Modeler’s Corner, Paul Barnhurst sits down with Riley Edwards to discuss what it’s like starting out in financial modeling and how those skills carry into real-world financial planning. The conversation covers early mistakes, learning experiences, and the importance of presenting financial information clearly. Riley shares his journey from studying finance to working in wealth management, along with how financial modeling helped him build confidence, improve communication, and handle client conversations more effectively.

Riley Edwards is a Financial Planning professional at IG Private Wealth Management, working with Fox-Revett Heslegrave & Associates. He is an Adrian College alumnus and is currently building his career in the financial planning industry. Based in Schomberg, Ontario, Canada, he focuses on helping clients understand their finances and make better decisions through clear analysis.

Expect to Learn

What early mistakes in financial modeling look like and how to fix them
Why understanding the basics is more important than just building models
How financial modeling improves confidence in professional settings
Why presentation skills matter just as much as technical skills
How modeling helps handle difficult client conversations

Here are a few quotes from the episode:

“Learning modeling is easier when you have people around you to share ideas and solve problems together.” - Riley Edwards
“Financial modeling is not just about numbers. It’s about understanding where you are today and where you’re going tomorrow.” - Riley Edwards

Financial modeling is not just about spreadsheets. It’s about turning numbers into something people can understand and use. As Riley explains, the real value comes from how you present and communicate that information, especially when the conversation is not easy.

Follow Riley:

LinkedIn: https://www.linkedin.com/in/rileyedwards0405/

Company’s Website: https://www.foxrevettassociates.com

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Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[02:57] – First Modeling Mistake

[05:07] – Getting Started in Financial Modeling

[07:29] – Learning Experience & Education

[10:04] – Most Rewarding Part of Modeling

[12:23] – Importance of Presentation Skills

[13:37] – Challenges in Learning Modeling

[15:29] – Current Role in Wealth Management

[17:38] – Personal Motivation & Background

[19:00] – Using Modeling in Client Work

[21:18] – AI in Learning & Modeling

[25:18] – Excel Tips & Shortcuts

[27:28] – Rapid Fire Round

Excel Will Never Be the Same Again after AI Copilot with Brian Jones

Tue, 31 Mar 2026 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Brian Jones to explore how Excel is evolving in the era of AI and large language models. They discuss how Copilot, agent mode, and AI-driven capabilities are transforming the way users build, analyse, and improve spreadsheets. Brian shares insights into how Excel is becoming more like a developer tool and how AI can automate repetitive tasks while enhancing productivity for both beginners and advanced users.

Brian Jones is the Vice President of Microsoft Excel, Forms, and Office Platforms. He has been with Microsoft since 1999, working across multiple productivity products, including Word, Office Forms, and developer extensibility tools. In his current role, Brian leads a global team responsible for Excel and related platforms, driving innovation and integrating AI capabilities like Copilot and agent mode into the product ecosystem.

Expect to Learn

What “agent mode” means and how it enables automation in spreadsheets
How AI can help analyse, fix errors, and improve financial models
Why Excel still requires strong logic and formula knowledge
How different AI models impact outputs and workflows in Excel Edge

Here are a few quotes from the episode:

“Excel really is like a developer tool. When you're writing formulas, you're essentially coding.” – Brian Jones
“It’s not just about building from scratch, it’s about improving what you already have.” – Brian Jones

Excel is evolving into a more intelligent and interactive platform where AI acts as a powerful assistant rather than a replacement. From fixing broken references to building dashboards and automating workflows, tools like Copilot and agent mode are helping users work faster and smarter

Follow Brian:

LinkedIn: https://www.linkedin.com/in/brijones/

Website: https://learn.microsoft.com/en-us/archive/blogs/brian_jones/

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LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn - https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[00:51] – Introducing Brian Jones

[02:50] – Returning to the Excel Team

[04:05] – AI & the Future of Excel

[06:38] – Customer Questions About Copilot

[10:22] – Agent Mode Explained

[11:41] – Modeling the community about the Excel agent

[13:14] – AI Models & Output Differences

[17:16] – Final Thoughts

AI Builds Obsession for Financial Modelers to Refocus on Specification Testing and Trust Now

Tue, 24 Mar 2026 05:00:00 -0600

In this episode of The ModSquad, Ian Bennett, Partner at PwC, joins Paul Barnhurst, Giles Male, and Ian Schnoor to discuss the rapid changes happening in financial modeling with the rise of AI. The team explores how AI tools like Claude are revolutionizing the industry, the critical role of strong modeling skills, and the ongoing importance of trust in financial modeling. They also touch on the future of Excel in the age of AI and how professionals can adapt to stay ahead in this rapidly changing landscape.

Ian Bennett is a Partner at PwC, leading Deals Modeling in Australia and globally. With over 25 years of experience, Ian has built and reviewed complex models for transactions, infrastructure, finance transformations, and BAU forecasting across Australia and the UK. Ian is a founding member of the Financial Modeling Institute's (FMI) Advisory Council and a member of FMI's Financial Modeling Global Leaders Council. He is also the lead author of PwC’s Global Financial Modeling Guidelines.

Expect to Learn

How AI tools like Claude are reshaping the financial modeling process.
The crucial role of human oversight and strong modeling skills, even with advanced AI.
Why AI in financial modeling is seen as an augmentation tool rather than a replacement.
How the role of financial modelers is evolving in the age of AI and automation.
What the future holds for Excel, and how AI integration is transforming it.

Here are a few quotes from the episode:

“We all trade in trust. Whether you use AI or not, it’s your name behind it. That’s the most valuable thing in our profession.” - Ian Bennett
“Financial modeling is so much more than just building a calculator in a spreadsheet. It’s a profession, it’s a discipline, it’s a career.” - Ian Bennett

Claude and other AI tools are significantly enhancing the way financial modeling is done, but as Ian Bennett highlights, trust and deep foundational knowledge remain critical. The future of financial modeling isn’t about AI replacing human modelers; it’s about how professionals can use AI to work smarter, faster, and more accurately.

Follow Ian:

Follow Giles:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

Follow Ian Bennett:

LinkedIn - https://www.linkedin.com/in/ianrbennett/

Website - https://www.pwc.com.au/deals/modelling.html

In today’s episode:

[02:10] – Introducing Ian Bennett

[07:00] – Testing Claude in Excel

[10:10] – Focusing Beyond the Build Phase

[14:00] – How AI is Enhancing Modeling Phases

[17:30] – The Importance of Reviewing AI-Generated Models

[19:45] – Trusting AI: Augmentation vs. Replacement

[25:00] – Rethinking the Role of Financial Modelers

[30:00] – The Future of Excel and AI Agent Mode

[33:00] – Reinventing the Financial Modeling Profession

[36:00] – The Future of Excel in the AI Era

[39:30] – Final Thoughts

How Microsoft is Making Excel an AI-Powered Platform with Product Manager Brian Jones

Tue, 17 Mar 2026 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Brian Jones, Vice-President: Microsoft Excel, Forms, Office Platforms, to discuss how Excel is evolving in the era of AI and large language models. They explore how Copilot, agent mode, and AI-driven features are reshaping how professionals build, analyse, and improve spreadsheets. Brian also shares insights into how AI can assist financial modelers, automate tedious spreadsheet tasks, and help users understand complex workbooks faster.

Brian Jones is the Vice-President: Microsoft Excel, Forms. He has worked at Microsoft since 1999 across several productivity platforms, including Word, Office Forms, and developer extensibility tools. In his current role, Brian leads the Excel product team as they integrate AI capabilities like Copilot and agent mode to expand what users can accomplish inside spreadsheets.

Expect to Learn

How AI and Copilot are changing the Excel user experience
What “agent mode” means for automating spreadsheet tasks
How AI can help analyse and improve financial models
Why Excel still requires strong modeling and formula knowledge
How skill sheets and templates can guide AI inside workbooks

Here are a few quotes from the episode:

“Excel really is like a developer tool. When you're writing formulas, you're essentially coding.” – Brian Jones
“One of the strengths of Excel is that the work is visible. You can see the formulas, the logic, and how the result was produced.” – Brian Jones

Brian explains how AI is transforming Excel from a traditional spreadsheet tool into a more collaborative environment where users can interact with their data through conversation. Copilot can analyse spreadsheets, suggest formulas, correct errors, and even rebuild broken references automatically.

Follow Brian:

LinkedIn: https://www.linkedin.com/in/brijones/

Website: https://learn.microsoft.com/en-us/archive/blogs/brian_jones/

Follow Financial Modeler's Corner:

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[02:53] – Brian’s Background at Microsoft

[03:09] – Returning to the Excel Team

[04:24] – The Rise of AI and LLMs in Excel

[07:08] – Customer Questions About Copilot

[10:39] – AI Rollouts and Product Updates

[12:03] – How modelers Are Using Excel AI

[17:52] – What Skill Sheets Are and Why They Matter

[23:07] – Power Query and Excel Programming Languages

[30:51] – Do We Still Need to Learn Formulas

[36:07] – Getting the Most Out of Copilot

[38:40] – Favorite Excel Shortcut and Functions

[41:31] – Where to Follow Brian

Tips For Aligning the Forecasting Process between Finance and Operations with Amber Johnson

Tue, 10 Mar 2026 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Amber Johnson to discuss forecasting, financial modeling, and how operational decisions impact financial outcomes. They explore the connection between logistics forecasting and financial forecasting, the importance of tracking forecast accuracy and bias, and how small operational issues can create large financial impacts. Amber also shares lessons from her experience working with data, forecasting demand, and helping businesses improve their systems and decision-making.

Amber Johnson is a fractional industrial engineer and the founder of Peachy Profitability, where she helps teams work smarter through process improvement, data storytelling, and automation. She began her career as a “beer psychic,” forecasting demand at Anheuser-Busch, and has since built logistics networks, optimized warehouse flows, and guided businesses through transformational change. Amber is also the creator of Office Hours with Amber, a weekly livestream that encourages continuous improvement with curiosity and confidence.

Expect to Learn

How logistics forecasting connects to financial forecasting
Why forecast accuracy and bias matter in decision-making
How operational drivers influence financial results
Ways finance, sales, and logistics teams can align better
How Excel and data analysis support forecasting and planning

Here are a few quotes from the episode:

“Sometimes the smallest operational issue becomes the biggest financial problem later.” – Amber Johnson
“Good forecasting isn’t about being perfect, it’s about learning and adjusting.” – Amber Johnson

Amber Johnson shared practical insights on forecasting, operational drivers, and financial modeling. She highlighted how understanding logistics and operational data can improve financial decisions and help businesses plan more effectively.

Follow Amber:

LinkedIn: https://www.linkedin.com/in/ambernjohnsonwmu/

Website: https://peachyprofitability.com/

Follow Financial Modeler's Corner:

LinkedIn Page - https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn - https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[02:23] – Amber’s Background

[08:21] – Founding Peachy Profitability

[10:38] – Learning Excel and Forecasting

[15:37] – Logistics vs Financial Forecasting

[18:59] – Forecast Accuracy and Bias

[23:59] – Finance vs Logistics Perspectives

[31:41] – Aligning Teams Around Goals

[36:07] – Favourite Excel Shortcuts

[37:46] – Rapid Fire: modeling Opinions

[44:39] – Where to Find Amber

Why Structure and Design are Critical Elements of Trust and Credibility in Financial Modeling with Nick Boberg

Tue, 03 Mar 2026 05:00:00 -0600

In this episode of Financial Modeler's Corner, host Paul Barnhurst chats with Nick Boberg, a financial modeler and consultant based in Hamilton, New Zealand. Paul and Nick explore the essentials of building well-structured, effective financial models. They discuss Nick’s approach to simplicity and consistency, the importance of clarity in model design, and the role of competition in refining one’s Excel and modeling skills.

Nick is a financial modeler and the co-founder of Boberg Advisory, a consultancy that specializes in providing financial modeling services to SMEs. With extensive experience as Finance Director at Anglesea Hospital and Associate Director at PwC, Nick has built and reviewed hundreds of models, many focused on cash flow forecasting, budgeting, and management reporting. He is also an accomplished competitor in the Financial Modeling World Cup and the Microsoft Excel World Championships, where he has achieved finalist and semifinalist placements.

Expect to Learn

Why structure and consistency are key in financial modeling
The role of simplicity in building models
Insights from Nick’s competitive modeling career
How to balance technical expertise with user-friendly design

Here are a few quotes from the episode:

"The beauty of financial modeling lies in its simplicity. If you can make a model both functional and easy to follow, you've mastered it." - Nick Boberg
"Consistency in formatting is key. A model that looks clean and well-structured builds trust with the user, especially when it's used for important decision-making." - Nick Boberg

Nick shares that the core of building great financial models lies in structure and simplicity. He emphasizes the importance of creating models that are not only accurate but also easy to follow and understand. Whether in competition or in client work, Nick highlights that clear, well-structured models make a real difference in their effectiveness and usability.

Follow Nick:

LinkedIn: https://www.linkedin.com/in/nickboberg/

Company: https://www.linkedin.com/company/boberg-advisory/

Follow Financial Modeler's Corner:

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[03:30] – Worst Modeling Experience

[08:08] – Running Boberg Advisory

[12:11] – Competing in Excel Championships

[17:42] – Importance of Structure

[20:00] – Risks of Complex Formulas

[23:20] – Avoiding Hard Codes

[27:13] – Building "Pretty" Models

[30:10] – Dynamic Arrays in modeling

[36:05] – Rapid fire Section

[40:54] – Last Question & Wrap up

We Tested Claude Opus 4.6 and the Results were Super Impressive

Tue, 24 Feb 2026 05:00:00 -0600

In this episode of The ModSquad, Paul Barnhurst, Ian Schnoor, and Giles Male put Claude 4.6 to the test on real financial modeling accreditation cases. From three-statement forecasts to complex debt sculpting scenarios, the team examines just how far AI tools have come. The results are impressive, but not flawless. The discussion explores what this leap forward means for finance professionals and whether modeling is truly entering a new AI-assisted era.

Ian Schnoor is Executive Director of the Financial Modeling Institute (FMI), the global accreditation body for financial modeling professionals. He brings extensive experience in modeling, training, and industry standards. Giles Male is Co-Founder of Full Stack Modeller and a two-time Microsoft MVP. He specializes in Excel, financial modeling systems, and practical AI implementation.

Expect to Learn

How Claude 4.6 performs on real financial modeling accreditation cases
Where AI tools still make subtle but significant modeling errors
The difference between automation and augmentation in AI usage
Why strong modeling fundamentals remain essential
Practical ways to begin integrating AI into your modeling workflow

Here are a few quotes from the episode:

“I’m not even doing this from a testing perspective now. I’m just using it because it’s adding so much value.” – Giles Male
“Modeling is just as much about the process as it is about the end result.” – Ian Schnoor

Claude 4.6 marks a significant step forward in AI-assisted financial modeling, handling complex builds faster than ever before. However, subtle errors still highlight the need for strong technical knowledge and human oversight. The future of modeling isn’t replacement, it’s skilled professionals using AI to work smarter and deliver greater value.

Follow Ian:

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:

[04:06] – Testing Claude

[11:14] – Augmentation vs. Automation in Modeling

[18:14] – The Value of Documentation in Modeling

[28:43] – Debt Modeling with AI

[33:20] – Transition from Manual to AI-Enhanced Modeling

[38:16] – Testing with New Tools

[41:24] – Debt and Equity Modeling with AI

[46:45] – Claude's Progress & Areas for Improvement

[57:33] – Final Thoughts

AI in Finance for Modelers to Succeed by Mastering the Fundamentals with Chris Reilly

Tue, 17 Feb 2026 05:00:00 -0600

In this episode of Financial Modeler's Corner, host Paul Barnhurst is joined by Chris Reilly, founder of Financial Modeling Education, for an insightful discussion on the importance of mastering financial modeling fundamentals in the age of AI. Chris shares his perspective on how AI is transforming the modeling industry, why understanding the basics is more important than ever, and how dynamic arrays are changing the modeling landscape.

Chris Reilly is a financial modeling expert with over 91,000 students trained globally. He has a diverse background, having worked in private equity and FP&A, and has developed a range of training programs through Wall Street Prep, Wharton, LinkedIn Learning, and his own courses. Chris emphasizes that strong foundational knowledge in finance and accounting is crucial to leveraging AI and new technologies effectively.

Expect to Learn

Why mastering the fundamentals of financial modeling is essential in an AI-driven world
How Chris integrates AI tools to enhance his modeling work
The role of dynamic arrays in streamlining financial models
The balance between technical skills and business decision-making
Insights on why complex models aren't always better

Here are a few quotes from the episode:

“AI is a magnifier. If you know what you're doing, it helps you get more done. If not, it makes problems worse.” - Chris Reilly
“The real goal of any model is to help the business understand what to do next, not just to show off technical skills.” - Chris Reilly

Chris highlights how AI can help with dynamic arrays and improve model efficiency, but stresses that it should never replace the need for a strong understanding of financial fundamentals. His focus is on helping modelers leverage the right technology without bypassing essential knowledge.

Follow Chris:

LinkedIn: https://www.linkedin.com/in/chris-reilly-mission-capital/

Homepage: https://www.financialmodelingeducation.com/

Email list: https://financialmodelingeducator.com/

Follow Financial Modeler's Corner:

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[02:06] - Why Fundamentals Matter in AI Modeling

[03:29] - Chris's Focus on Education & Clients

[04:44] - How AI Amplifies Strengths & Weaknesses

[05:39] - Dynamic Arrays: Excel's Game-Changer

[07:09] - Should Dynamic Arrays Be Taught?

[09:47] - Combining Functions for Efficient Models

[12:01] - Struggles with New Excel Features

[13:18] - Technical vs. Business-Focused Models

[14:59] - The Joy of Mastering Balanced Models

[15:44] - Closing & Chris' Educational Resources

Financial Modelers Must Master the Fundamentals Before Trusting AI with Chris Reilly

Tue, 10 Feb 2026 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes back Chris Reilly for a deep and practical conversation on financial modeling fundamentals in the age of AI. Chris shares why mastering the basics still matters more than ever, how AI is changing modeling workflows in reality (not hype), and where automation genuinely adds value versus where human judgment is still essential.

Chris Reilly is a former private equity professional and financial modeling expert with experience spanning restructuring, FP&A, treasury, and middle market private equity. He began his career at FTI Consulting during the financial crisis, working on major bankruptcies, including Lehman Brothers, before moving to Hilton Worldwide and later into private equity. Chris is the founder of Financial Modeling Education, where he has trained more than 90,000 professionals worldwide, teaching real-life models used to acquire and manage private equity-backed businesses.

Expect to Learn

Why financial modeling fundamentals matter more than ever in an AI-driven world
How Chris actually uses AI in real client models versus online hype
Why simple, well-built models outperform overly complex ones
How to balance technical modeling skills with business decision-making

Here are a few quotes from the episode:

“AI is a great accelerator if you already understand the fundamentals. If you don’t, it just magnifies the problem.” - Chris Reilly
“There’s a missing middle right now where people are skipping the fundamentals and jumping straight to the results.” - Chris Reilly

Chris emphasizes that while AI and automation can improve efficiency, they do not replace the need for strong accounting knowledge, modeling fundamentals, and business understanding. He explains that the best modelers focus less on tools and functions and more on clarity, reliability, and helping decision makers understand what to do next.

Follow Chris:

LinkedIn: https://www.linkedin.com/in/chris-reilly-mission-capital/

Homepage: https://www.financialmodelingeducation.com/

Email list: https://financialmodelingeducator.com/

Follow Financial Modeler's Corner:

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[02:35] - Fundamentals Before AI

[05:55] - From PE to Teaching

[09:17] - Dynamic Arrays in Practice

[13:25] - Limits of Dynamic Models

[18:09] - Modeling vs Technical Debate

[21:04] - AI Hype vs Reality

[26:45] - Avoiding Bad Models

[33:00] - Advice for Modelers

[35:38] - Future of AI in Excel

[38:02] - Closing Thoughts

The Excel Techniques for Modelers to Build Real World-Business Forecasts - Luke Phillips

Tue, 03 Feb 2026 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Luke Phillips, Senior Business Analyst at Access Analytic. Luke shares how he transitioned from Division I basketball to financial modeling, and how he helps clients solve complex budgeting and reporting problems using Solver, Excel, and Power BI.

Luke Phillips is a chartered financial modeler and the Senior Business Analyst at Access Analytic. He works with clients across mining, oil and gas, manufacturing, and professional services to streamline budgeting and reporting through Solver and Excel. Luke holds a BBA in Finance from the University of Louisiana at Monroe, where he also played Division I basketball.

Expect to Learn

How a bad college project helped kickstart Luke’s modeling career
What Solver is and how it supports complex planning and reporting
Tips for simplifying models without losing value
The role of communication in building useful models
Luke’s take on AI and dynamic arrays in Excel

Here are a few quotes from the episode:

“We're not hiring you for your technical ability, we're hiring you for your potential.” – Luke
“I love spreadsheets, the way you can pull complex calculations together and form a view of a company.” – Luke

Luke Phillips brings a grounded, real-world perspective to financial modeling, shaped by both professional experience and athletic discipline. His approach blends technical skill with a clear focus on communication and usability. Whether solving client challenges with Solver or exploring new Excel features, Luke keeps modeling practical and purpose-driven.

Follow Luke:

LinkedIn: https://www.linkedin.com/in/luke-phillips-75859013a/

Company: https://www.linkedin.com/company/access-analytic/

Follow Financial Modeler's Corner:

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[02:09] - Life in Australia & Background

[03:16] - First Model Mistake & Lesson

[04:46] - From Basketball to Finance

[08:49] - What is Solver & Luke’s Role

[10:33] - Learning Supply Chain & Ops

[13:11] - Simplicity vs. Complexity

[18:24] - AFM & CFM Exam Journey

[22:46] - XLOOKUP Over INDEX MATCH

[27:46] - AI in modeling & Challenges

The Storytelling Techniques for Financial Modelers to Impress Investors with Karishma Karishma Ramnawaj

Tue, 27 Jan 2026 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Karishma Ramnawaj, a financial modeler based in Mauritius, to talk about her journey in financial modelling, building and reviewing models, and the lessons she’s learned from both success and failure. Karishma shares her experience of learning on the job, why understanding the end user is critical, and how she balances practical standards with flexibility.

Karishma is a Certified Advanced Financial Modeler (AFM) and FMVA® professional, currently working as a Financial Modeler Associate at Hawkins Eberdal Ltd in Mauritius. With a strong foundation in both project and corporate finance, Karishma specializes in building decision-ready financial models that support capital raising, risk evaluation, and business growth.

Expect to Learn

Why using someone else’s model as a template can be risky
The importance of understanding and communicating key assumptions
How to tailor models for investors and third-party users
What it’s like to fail, and then pass, the AFM exam
The value of applying both corporate and project finance in modelling

Here are a few quotes from the episode:

“If you're going to use someone else's model, make sure you understand everything inside it.” – Karishma
“It's not just about Excel. It's about who's using the model and what story you're telling with it.” – Karishma

Karishma's story is a great example of growth through practice, persistence, and passion for financial modeling. Her focus on clarity, flexibility, and end-user needs brings valuable perspective to the modelling process. From overcoming early challenges to passing the AFM exam, she shows the importance of continuous improvement.

Follow Karishma:

LinkedIn: https://www.linkedin.com/in/karishma-ramnawaj/

Follow Financial Modeler's Corner:

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[01:56] - Guest Intro

[04:51] - Journey into Modelling

[06:00] - Why She Loves Modelling

[08:37] - Storytelling with Numbers

[10:56] - Key Assumptions & End Users

[13:00] - Project vs. Corporate Finance

[14:26] - Renewable Energy Focus

[15:44] - Modelling Standards & Reviews

[22:16] - AFM Exam: Fail to Pass

[29:18] - Tools, Tips & Final Advice

How Excel AI Agents Actually Work for Financial Modelers to Understand LLMs & Tools with Tim Jacks

Tue, 20 Jan 2026 05:35:00 -0600

In this episode of The ModSquad, hosts Paul Barnhurst, Ian Schnoor, and Giles Male welcome Tim Jacks, founder of Taglo, for an insightful discussion on the integration of AI in financial modeling. Tim’s expertise bridges the worlds of financial modeling and AI, and in this episode, he shares his journey and discusses how AI is reshaping the financial modeling landscape.

Tim Jacks is the founder of Taglo, a company dedicated to improving financial modeling with AI technology. His career journey spans financial consulting and software development, including building financial modeling tools. Over time, Tim's interest in artificial intelligence grew, and he delved into how AI, particularly Large Language Models (LLMs), could be used to enhance financial modeling processes.

Expect to Learn

How AI is revolutionizing financial modeling and the specific ways it’s being used today.
The technical components behind AI agents and how they differ from simple chatbots.
The importance of context and system prompts when working with LLMs in financial tasks.
Insights into the memory limitations of LLMs and how agents work around this challenge.

Here are a few quotes from the episode:

"If you're using AI for Excel modeling, you need to remind it to follow good financial modeling principles, like the FAST Standard." – Tim Jacks
"The beauty of LLMs is that you can go back and change the conversation, they're stateless, so it's like resetting the clock." – Tim Jacks

Tim Jacks provided valuable insights into the integration of AI in financial modeling, particularly how LLMs and agents are transforming workflows. While AI can significantly enhance efficiency, human expertise remains essential for applying financial modeling principles. Understanding the technical workings of these tools helps users leverage them effectively. The future of financial modeling will be human-led, AI-assisted.

Follow Tim:

LinkedIn: https://www.linkedin.com/in/timjacks/

Follow Ian:

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:

[00:05] - Intro & Hosts

[01:33] - Guest Introduction: Tim Jacks

[02:42] - Tim's Background in Modelling & AI

[04:16] - What Are LLMs Really?

[09:55] - ChatGPT vs. LLMs Explained

[12:09] - LLMs Have No Memory

[15:02] - How Tools Add Context to AI

[19:35] - What Is an AI Agent?

[22:35] - How Excel Agents Work

[30:08] - Demo: Tools in Action

[35:03] - Defining an Agent: LLM + Tools + Prompts

[38:49] - Key Takeaway for Modellers

Financial Modeling for Corporate Finance Teams to Unlock Business Without Templates - Carolina Lago

Tue, 13 Jan 2026 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Carolina Lago, a seasoned FP&A professional, to discuss how financial modelers can transform data into actionable insights while avoiding common modeling pitfalls. Together, they explore best practices in financial modeling, the dangers of hard-coded models, and why structure, flexibility, and clear purpose are essential for effective decision-making. Carolina also shares lessons from her international career, including her experience supporting a major IPO and leading global software implementations.

Carolina Lago is an FP&A professional with over 15 years of international experience across multiple industries. She has played key roles in high-impact projects, including IPO preparation and enterprise-wide financial system implementations. Carolina is also the creator of the TACTIC framework, which helps financial professionals build models that are structured, insightful, and decision-focused.

Expect to Learn

Why hard-coded models are a major risk to accuracy and flexibility
How to turn raw data into insights that drive real business decisions
The importance of starting every model with a clear question or goal
How the TACTIC framework improves structure and clarity in modeling
Why strong modeling skills matter at every career stage

Here are a few quotes from the episode:

“I inherited one, and I had to try to change it. I spent probably a couple of weeks trying to make it better, and I couldn't. It was just too full of hardcoded numbers and no design at all.” – Carolina Lago
“Data is only useful if it can be transformed into actionable insights.” – Carolina Lago

Follow Carolina:

LinkedIn – https://www.linkedin.com/in/s-carolinalago/

Website – https://www.tacticfinancial.com

In today’s episode:

[00:00] - Trailer

[00:50] - Guest Introduction

[01:00] - Horrifying Financial Models

[02:00] - Early Career Modeling Mistakes

[03:10] - Carolina’s Global Career Journey

[05:00] - Turning Data into Actionable Insights

[07:30] - Introduction to the TACTIC Framework

[09:50] - Learning Resources & Community Engagement

[20:00] - Certifications and Continuing Education

[22:40] - Rapid-Fire Round

[24:50] - Advice for Aspiring Financial Modelers

[26:00] - How to Connect and Learn More

What 2025 Taught Us About Excel AI and Where Financial Modeling Is Heading in 2026

Tue, 06 Jan 2026 05:00:00 -0600

In this special episode of Financial Modeler’s Corner, host Paul Barnhurst recaps an exciting 2025 and outlines what's ahead for 2026. Paul reflects on the top five most downloaded episodes of the year, shares insights from key guests, and highlights major developments in financial modeling, including Excel's newest features and the growing role of AI.

Expect to Learn

Key trends in Excel and financial modeling from 2025
How AI is changing the way models are built, tested, and audited
The importance of simplicity, documentation, and user involvement in model design
Why communication and business understanding are becoming essential skills for modelers

Here are a few quotes from the episode:

“Complexity can backfire by making you indispensable in ways that hurt your career growth.” – Paul Barnhurst
“AI is a magnifier, it makes good modelers better and highlights weaknesses in those without a solid foundation.” – Paul Barnhurst

In today’s episode:

[02:01] – Mod Squad Launch

[03:02] – AI and Modeling

[03:45] – Excel Feature Highlights

[06:28] – Excel Championship Recap

[10:12] – AI in Financial Modeling

[12:54] – Time-Saving Modeling Tips

[16:02] – Three-Statement Modeling

[17:38] – Strategic Thinking for Modelers

[20:30] – Final Thoughts and Certification Offer

How Curiosity and Listening Help Financial Modelers Build Trusted Models with Ian Bennett

Tue, 30 Dec 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Ian Bennett, Partner and Deals Modelling Leader at PwC Australia, to discuss the art and science of financial modeling. Together, they explore what makes a good financial modeler, how Excel has evolved dramatically in recent years, and how emerging tools and AI are shaping the future of modeling. Ian reflects on his decades-long career, from his early days discovering Excel during audits to leading a large team of modelers across Australia and India.

Ian Bennett is the Deals Modelling Partner at PwC Australia and a Master Financial Modeler (MFM) certified by the Financial Modeling Institute. With 24 years of hands-on experience in building and leading modeling teams, Ian’s approach combines deep technical expertise with a strong focus on communication, design, and problem-solving. He leads a 50-person modeling team at PwC and is known for his passionate advocacy for best practices, new tools, and innovation in modeling, including integrating AI and the latest features in Excel.

Expect to Learn

Why defining a model’s purpose upfront is essential to success
The most important listening and scoping skills great modelers must develop
How Excel’s evolution over the past 18 months is changing the game
What it means to be model-first vs. outcome-focused
Why curiosity and human insight are irreplaceable, even in the age of AI

Here are a few quotes from the episode:

“Every model tells a story, and that story should be known at the start of the project. It’s about understanding what questions the model needs to answer.” – Ian Bennett
“Be curious. That curiosity is what drives innovation in modelling, learning new tools, asking better questions, and solving real problems.” – Ian Bennett

Follow Ian:

LinkedIn - https://www.linkedin.com/in/ianrbennett/

Website - https://www.pwc.com.au/deals/modelling.html

In today’s episode:

[00:00] - Trailer

[01:09] - Introduction to Ian Bennett

[02:13] - Worst Model Ian Has Seen

[06:17] - Ian’s Background & Early Interest in Excel

[08:19] - Becoming a Master Financial Modeller (MFM)

[09:43] - Global Excel Summit Highlights

[11:53] - What Makes a Great Financial Modeller

[16:38] - Importance of Listening & Understanding Client Needs

[23:03] - Time Allocation: Design vs. Building in Excel

[28:14] - Modelling Tools Beyond Excel

[31:34] - Excel’s Evolution & Exciting New Features

[39:08] - Rapid Fire Questions

[41:50] - Will AI Build Financial Models?

[47:12] - Final Advice for Aspiring Modellers

We Tested 7 AI Tools in Excel for Financial Modeling, and None Could Build a Reliable Model

Tue, 23 Dec 2025 05:00:00 -0600

In this episode of The ModSquad, hosts Paul Barnhurst, Ian Schnoor, and Giles Male are joined by Tea Kuseva, Community Manager at the Financial Modeling Institute, for a detailed discussion on the state of AI tools in financial modeling. The group continues its hands-on testing of seven tools, including TabAI, Excel Agent, Shortcut, and TrufflePig, evaluating how these platforms perform on real-world financial modeling tasks

Tea Kuseva is the Community Manager at the Financial Modeling Institute (FMI), the only global accreditation body dedicated to financial modeling. With her deep involvement in the modeling community and her role supporting professionals worldwide, Tea Kuseva brings thoughtful questions and provides structure to the discussion, helping translate technical insights into practical takeaways for finance professionals.

Expect to Learn

How leading AI tools perform on real financial modeling tasks
Common issues like unbalanced sheets and flawed formulas
Key differences between Excel-based and standalone tools
Practical ways AI can assist with analysis and reporting
Why Excel and modeling expertise still matter in an AI-driven workflow

Here are a few quotes from the episode:

“Even five years from now, you’ll still need to understand every cell if you're handing in a model.” – Ian Schnoor
“Fast, consistent outputs are still better achieved by experienced humans than by today’s AI tools.” – Giles Male

AI tools show promise in assisting with financial modeling, but they are not yet reliable enough to replace human expertise. Strong Excel skills and sound judgment remain essential. Used wisely, AI can enhance productivity, but it should complement, not replace, technical understanding. The future of modeling is human-led, AI-assisted.

Follow Ian:

LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=ca

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

Follow Tea:

LinkedIn: https://www.linkedin.com/in/tkuseva/

In today’s episode:

[01:16] - Guest Intro

[06:07] - Tools Under the Microscope

[07:59] - The Testing Framework

[13:43] - Lessons from the Esports Challenges

[19:33] - Real Examples from the Tools

[25:54] - Practical Use Cases for AI Today

[33:56] - Variability in AI Outputs

[39:40] - Looking Ahead: The Next Five Years

[44:58] - Final Comments

[46:13] - Final Thoughts and Key Takeaways

What Happens When the AI Tools Fail Basic Math and More with Ian and Giles

Tue, 16 Dec 2025 05:00:00 -0600

In this episode of The Mod Squad, hosts Paul Barnhurst, Ian Schnoor, and Giles Male continue their hands-on testing of AI tools for financial modeling. This time, they put Subset, an AI-powered spreadsheet tool still in beta, through its paces. The hosts explore whether Subset can realistically handle core financial modeling tasks, including importing Excel files, building three-statement models, and applying basic accounting logic. Along the way, they uncover significant limitations, bugs, and logical errors that highlight the risks of relying on unsupported or immature tools.

Expect to Learn

What Subset promises to do and how it performs in real-world testing
The challenges of importing Excel files into non-Excel environments
Why basic accounting logic still breaks many AI modeling tools
The risks of using outdated or unsupported AI tools found online
What it would actually take for professionals to move away from Excel

Here are a few quotes from the episode:

“There’s no AI on the planet that should tell you gross profit is revenue plus costs.” – Ian Schnoor
“It’s clever, but massively flawed and unreliable in lots of areas right now.” – Giles Male

Subset shows ambition in trying to act as a full AI spreadsheet, but the testing reveals serious issues, from incorrect formulas to flawed financial logic and unstable performance. While the tool demonstrates how far AI experimentation has come, it also serves as a cautionary example of why finance professionals must validate outputs and maintain strong technical foundations.

Follow Ian:

LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=ca

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:

[02:40] – Welcome back to The Mod Squad

[05:04] – Introducing Subset and its promises

[08:38] – Importing Excel files into Subset

[11:27] – Errors, bugs, and beta limitations

[13:50] – Building a three-statement model from scratch

[19:25] – A Basic Revenue Reality Check

[22:37] – Why Excel Is Hard to Replace

[27:10] – Lessons learned from testing multiple tools

[30:01] – Why Structured Data Matters

The Reality of AI Excel Tools for Finance Teams to Understand Formula Complexity with Ian and Giles

Tue, 09 Dec 2025 05:00:00 -0600

In this episode of The Mod Squad, hosts Paul Barnhurst, Ian Schnoor, and Giles Male continue their exploration of tools for financial modeling. This time, they test Melder, a tool designed to streamline financial modeling tasks in Excel. The hosts evaluate how it handles various financial exercises, such as creating formulas and generating a deferred revenue schedule. While the tool shows promise, the hosts identify areas where Melder has room to improve, particularly with bugs and user experience quirks. This episode also highlights the challenges of using tools still in beta.

Expect to Learn

A detailed review of Melder’s features for Excel-based financial modeling.
How Melder compares to other tools previously tested by the team.
Challenges faced when using Melder for tasks like building formulas and financial schedules.
The pros and cons of using Melder, especially when it comes to its unique features and limitations.
Insights into tools’ development process, especially when still in beta.

Here are a few quotes from the episode:

"I appreciate the confidence behind the bold statements, but at the end of the day, tools need to make sure they’re doing the job correctly." – Ian Schnoor
"When tools go wrong, it’s not just about fixing the error; it’s about understanding what went wrong so we can avoid future issues." – Giles Male

Melder offers some useful features for financial modeling, such as custom formulas and file handling, but it still faces challenges like data overwriting and slow performance. While it shows potential, especially in automating tasks, it needs further refinement to become a reliable tool for complex financial tasks. As it continues to evolve, we look forward to seeing how it improves and addresses these issues.

Follow Ian:

LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=ca

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:

[00:31] - What is Melder?

[03:30] - Melder’s Website and Features

[08:40] - Testing Melder on Financial Modeling Tasks

[12:00] - Exploring Melder’s Formula Creation Capabilities

[14:30] - Overview of the LLM Model and Google Gemini Models

[19:43] - Testing the Trial Balance and Tool's Thought Process

[24:08] - Understanding Overengineered Formulas

[32:05] - Testing the PVM Use Case and Encountering Errors

[41:51] - Final Thoughts and Melder’s Future Potential

TrufflePig AI vs Excel for Finance Teams from Building Models to Real-Time DCFs with Ian Schnoor

Tue, 02 Dec 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, hosts Paul Barnhurst and Ian Schnoor continue their exploration of AI tools for financial modeling. This time, they test Trufflepig, a tool designed to help financial analysts automate spreadsheet tasks while still allowing them to focus on the insights. The hosts test Trufflepig on various financial modeling tasks, discussing its performance and how it compares to other tools they've used. They cover tasks such as building a DCF model for Nvidia, generating executive summaries, and creating a financial forecast. While Trufflepig performs well in some areas, there are still challenges that need to be addressed, particularly with certain financial concepts like working capital and net income.

Expect to Learn

A review of Trufflepig, an AI-powered spreadsheet tool.
How Trufflepig performs on real-world financial tasks.
The benefits and limitations of AI tools in financial modeling.
Insights into how Trufflepig compares with other financial modeling tools.

Here are a few quotes from the episode:

“The biggest advantage of using Trufflepig is that it helps you with the repetitive tasks, so you can focus on higher-level analysis.” - Ian Schnoor
“Trufflepig is an interesting tool, but as with any new software, there’s a learning curve. But if it delivers value, it’s worth it.” - Ian Schnoor

Trufflepig is a promising tool for financial professionals, particularly those looking to automate repetitive spreadsheet tasks. While it performs well on basic tasks like building DCF models and creating executive summaries, there are areas for improvement, especially around financial concepts like working capital and the handling of complex formulas.

Follow Ian:

LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=ca

Trufflepig: https://Trufflepig.ai/

In today’s episode:

[01:40] – Review of Previously Tested AI Tools

[05:15] – Trufflepig’s Positioning and Messaging

[12:00] – Trufflepig Attempts the eSports Modeling Case

[22:00] – Challenges with TEXTSPLIT and Modern Excel Functions

[30:50] – Executive Summary Generation

[40:01] – Data Sourcing and Web Pulling Behavior

[49:26] – Reasons for DCF and Market Price Differences

[59:45] – Exporting to Excel and Formatting Issues

[1:12:26] – Final Review and Closing Thoughts

Elkar AI Put to the Test in Live Financial Modeling with Honest Results for Modellers - Ian & Giles

Tue, 25 Nov 2025 05:00:00 -0600

In this episode of The ModSquad on Financial Modeler’s Corner, Giles Male and Ian Schnoor put Elkar to the test, a financial modeling tool that's been getting attention for its speed and slick design. From solving structured Excel challenges to building full forecast models, they push the tool to its limits. What follows is a revealing look at how Elkar performs when accuracy, logic, and professional modeling standards are on the line. Along the way, they uncover surprising strengths, critical flaws, and even moments of unexpected comedy. Whether you’re curious about automation or cautious about AI in finance, this episode offers plenty to think about.

Expect to Learn

What Elkar gets right: speed, formatting, and a sleek interface
Where it breaks down: logic errors, disconnected assumptions, and unreliable outputs
How Elkar stacks up against other AI tools like TabAI and Agent
Why using AI without understanding modeling fundamentals can be dangerous
What it takes to turn a promising AI output into a reliable financial model

Here are a few quotes from the episode:

"Right now, Elkar is like a junior analyst, you see potential, but you can't let them run unsupervised." - Giles Male
"AI tools like this might build something that looks like a model, but without logic, it’s a house of cards." - Ian Schnoor

In this episode, Elkar proves to be a fast and visually polished AI tool with clear potential, especially in formatting and task execution speed. However, when it comes to financial logic, assumption structuring, and balance sheet integrity, it consistently misses the mark. The tool even resorts to shortcuts like hardcoding values and plugging imbalances.

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

Follow Ian:

LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=ca

Elkar: https://elkar.co

In today’s episode:

[06:48] - Exploring Elkar: Website, Pricing, and Features

[10:34] - Elkar Takes on the Esports Excel Challenge

[20:14] - Elkar Gets Caught Cheating

[24:18] - Elkar Struggles with Complex Logic

[35:45] - Cash Flow Logic & Balance Sheet Errors

[46:38] - From Hardcoding to Dynamic Assumptions

[53:45] - Balance Sheet Plugging and Logical Failure

[57:34] - Reviewing Elkar’s Working Capital Assumptions

[1:04:20] - Wrap up & Final Thoughts

Testing Shortcut AI's bold claims: Did it live up to the hype with Giles Male

Tue, 18 Nov 2025 05:00:00 -0600

In this episode of The ModSquad on Financial Modeler’s Corner, Paul Barnhurst and Giles Male put Shortcut under the AI microscope, testing one of the most hyped AI tools in the financial modeling world. With claims like “the most accurate Excel agent in the world” and the ability to outperform human champions in modeling tasks, Shortcut has made a big splash, but does it live up to its own bold promises? Paul and Giles run it through a rigorous series of real-world modeling challenges, from esports cases and financial forecasts to dashboard analysis and deferred revenue schedules. What they find is a tool with clear potential, and some serious red flags.

Expect to Learn

Where Shortcut impresses with formatting, speed, and usability
Where it fails, especially with modeling logic
How Shortcut compares to Excel Agent and TabAI across key modeling tasks
Why reversing formatting in a model is a huge red flag
What to consider when investing in premium AI tools for modeling

Here are a few quotes from the episode:

“Shortcut has potential, but right now it’s flash over fundamentals.” - Giles Male
“Could you imagine an analyst reversing formatting to make a number look negative? They’d be out the door.” - Giles Male

Despite the hype, Shortcut proved to be a solid tool with promise. It delivered impressive formatting and UI, yet had some serious issues like incorrect logic, hardcoded values, and non-balancing models, which held it back. A promising AI assistant, just not a replacement for real modeling expertise.

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:

[01:15] - Intro & Where the AI Modeling Journey Stands

[05:11] - Shortcut: First Impressions & Bold Claims

[14:28] - Viral Demo Video Breakdown

[23:12] - Esports Challenge: Basic Excel Tasks

[31:19] - Intermediate Case: Modeling Accuracy

[36:10] - Building a 3-Statement Forecast

[44:24] - Red Flags: Formatting & Balance Sheet Errors

[50:27] - Deferred Revenue Test

[56:32] - Trial Balance Dashboard: Visuals vs. Substance

[1:07:22] - Final Thoughts & Shortcut's Ranking

How TabAI stacks up as an Excel AI Agent for Financial Modeling Pros, with Ian and Giles

Tue, 11 Nov 2025 05:15:00 -0600

In this episode of The Mod Squad on Financial Modeler’s Corner, Paul Barnhurst, Ian Schnoor, and Giles Male take a close look at TabAI, a tool designed to simplify and speed up Excel tasks using automation and intelligent suggestions. With more tools dropping out of the market and Excel’s own Agent feature gaining ground, the question is simple: Does TabAI offer something worth switching to? From cleaning data and building dashboards to attempting a full five-year forecast, the team puts TabAI through a series of real-world modeling challenges to see what it gets right and where it still falls short.

Expect to Learn

Where TabAI shines in helping analysts and where it needs improvement.
How does it compare to Excel Agent in terms of speed, usability, and accuracy?
Why finance pros still need to understand what’s going on under the hood.
What to watch for when relying on tools that promise “done-for-you” modeling.

Here are a few quotes from the episode:

“Agent was faster, but TabAI handled more advanced stuff better.” - Ian Schnoor
“AI is great at building things fast, but one small mistake can make the whole model unusable.” - Giles Male

TabAI turned out to be one of the more impressive tools we’ve tested so far, especially when it comes to everyday Excel tasks and building dashboards. It’s not perfect, especially with full-scale models, but it’s definitely a step in the right direction. For now, it’s a great helper, but you’ll still need your own modeling skills to get the job done right.

Follow Ian Schnoor:

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:

[02:28] - TabAI Leaves Retail

[05:17] - Competing with Excel Agent

[06:50] - TabAI Feature Overview

[10:30] - The “Iron Man Suit” Claim

[14:28] - eSports Case Test

[23:12] - Dancing Fur Coat Model

[29:14] - Trial Balance Dashboard

[33:56] - Deferred Revenue Test

[38:36] - Full Forecast Model Build

[51:10] - Final Thoughts

How AI Excel Tools Stackup Against the Hype and How Excel Agent Has Disrupted the Marketplace with Ian and Giles

Tue, 04 Nov 2025 04:00:00 -0600

In Episode 5 of The ModSquad on Financial Modeler’s Corner, Paul Barnhurst, Ian Schnoor, and Giles Male take a hard look at the changing landscape of financial modeling in the wake of Microsoft’s release of Excel Agent. Since launching at the end of September to coincide with Excel’s 40th birthday, Excel Agent has quickly changed the competitive dynamics for AI-powered modeling tools. The team explores the implications: how Excel Agent’s capabilities compare to other tools, why third-party platforms are shutting down, and what all this means for the future of work in modeling-heavy industries like investment banking.

Expect to Learn

Why Excel Agent is pushing competing modeling tools like Rosie AI out of the market.
What makes Excel Agent a “magnifier” of both modeling skill and error.
How fast AI is evolving inside Excel and what that means for modelers today.
Why AI won’t reduce hours in finance, despite speeding up modeling work.
What OpenAI’s Project Mercury reveals about the next phase of automation in investment banking.

Here are a few quotes from the episode:

“You can't hit a prompt, go get a coffee, and expect a working model.” – Giles Male
“If you don’t understand what the AI just built, you’re in trouble.” – Ian Schnoor

This episode makes it clear: AI is not a replacement for skill; it’s a multiplier. Excel Agent may be setting the new standard, but success still comes down to human understanding, judgment, and accountability. As the modeling world evolves rapidly, professionals who stay informed and upskill will thrive. The Mod Squad isn’t slowing down either; more tool reviews and sharp conversations are coming.

Follow Ian Schnoor:

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:

[05:29] - AI Tools Recap

[07:26] - AI Hype and Hidden Risks

[10:23] - AI as a Skill Magnifier

[13:48] - Microsoft’s Impact on AI Startups

[16:15] - Rapid Evolution of Excel AI

[21:29] - OpenAI’s Role in Financial Modeling

[29:17] - Understanding Assumptions and Calculations

[31:53] - Final Thought

Testing The New Microsoft Excel Agent for Finance Pros with Ian and Giles

Tue, 28 Oct 2025 05:00:00 -0600

In this episode of The ModSquad on Financial Modeler's Corner, Paul Barnhurst, Ian Schnoor, and Giles Male explore Microsoft’s newly released Excel Agent, a beta tool designed to bring AI into Excel Online. The team compares its performance to Rosie AI, running both through a range of tasks, including formula building, audit reviews, and a full five-year model forecast. Along the way, they test the tools against real modeling challenges like the Excel Esports case and a creative custom case, "The Humble MVP." This isn’t just about flashy tech. It’s a deeper conversation on where AI can help, where it falls short, and why core financial modeling skills still matter.

Expect to Learn

What happened when Excel Agent tried to build a full five-year forecast model.
Why solid modeling skills still beat "one-click" AI hype.
Where AI tools succeed, and fail, in reviewing formulas and detecting issues.
Why you should never fully trust AI without understanding what it’s doing.

Here are a few quotes from the episode:

“Building a model is like flying a plane; you don’t want a rookie in charge when something breaks.” - Ian Schnoor
“You can’t hit a prompt, go get a coffee, and expect a working model.” - Giles Male

Follow Ian Schnoor:

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:

[02:21] - What is an Excel Agent and why does it matter?

[05:37] - Sharpen Your Modeling Skills

[06:51] - Modeling Requires Human Judgment

[09:27] - Esports Case: Rosie AI vs Excel Agent Test

[19:39] - Excel Agent Hangs in Beta Mode

[25:26] - Testing PVM in the Smoothie Business Case

[30:01] - Ian Takes Over: Testing Excel Agent on AFM Model

[44:11] - Building a five-year forecast model from scratch

[55:19] - Adding a revolver to the model

[01:00:12] - Why the balance sheet doesn’t balance

[01:03:46] - Final thoughts and takeaways

How Excel AI Agents Like Rosie Work for FP&A Tasks but Fail at Building Models with Giles and Ian

Tue, 21 Oct 2025 05:00:00 -0600

Note: This episode was recorded and scheduled for release before the recent announcement that Rosie AI is shutting down.

In this episode of the ModSquad series on Financial Modeler’s Corner, host Paul Barnhurst is joined by modeling experts Ian Schnoor and Giles Male to evaluate Rosie AI, a new tool that integrates with both Excel and Google Sheets. Together, they test its capabilities in building financial models, solving complex FP&A tasks, and performing real-world use cases. They push Rosie through a series of tests, from basic formula creation to building full three-statement models, and discuss where it excels, where it needs improvement, and its potential future in the world of financial modeling.

Expect to Learn

How Rosie AI performs in real-world financial modeling tasks
The strengths and weaknesses of Rosie in building models and formulas
Key insights into how AI tools are evolving in financial modeling
The importance of knowing how to validate AI-generated models
How Rosie compares with other AI tools and traditional financial modeling techniques

Here are a few quotes from the episode:

“AI can’t replace the need for modelers to understand the logic, but it can help speed up certain tasks.” - Giles Male
“If you know what you’re doing, these tools can save you time. If you don’t, you need to double-check everything.” - Ian Schnoor

Follow Ian Schnoor:

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

Rosie AI: https://www.askrosie.ai/

In today’s episode:

[02:23] - Excel Turns 40

[07:29] - Microsoft’s AI Agent vs. Modeling Tools

[16:18] - Exploring Rosie’s Website and Features

[25:35] - Real-World FP&A Test: Trial Balance Summary

[35:53] - Deferred Revenue Schedule Test

[50:54] - Detecting Inconsistent Formulas in Financial Models

[01:00:53] - Testing Rosie AI on a Five-Year Forecast Model Build

[01:08:31] - Final Thoughts: Where AI Helps and Where It Doesn’t

Testing Excel AI Software Tracelight on Excel Esports, Financial Modeling and FP&A with Ian And Giles

Wed, 15 Oct 2025 05:00:00 -0600

Disclaimer: This episode is best experienced in video format. Since we’re testing new tools like Tracelight, the visuals add valuable context and make everything much clearer. We highly recommend watching the video for the full experience.

In this episode of the ModSquad series on Financial Modelers’ Corner, host Paul Barnhurst is joined by modeling experts Ian Schnoor and Giles Male to evaluate Tracelight, a new Excel-based modeling tool. Together, they explore how well it performs across real-world use cases in FP&A, Excel eSports, and corporate finance. From auditing balance sheets to solving Excel battle cases and building five-year forecast models, the ModSquad puts Tracelight through a comprehensive test to assess what it gets right, what it gets wrong, and where it still needs improvement.

Expect to Learn

How Tracelight performs across different financial modeling scenarios
The impact of LLM selection and prompt design on tool output
Where Tracelight excels, and where it falls short, in building models and running checks
How Excel eSports challenges expose strengths and weaknesses in formula logic
When these tools can save time, and when they create more work

Here are a few quotes from the episode:

"If you don't know your stuff, you're going to learn the wrong things; or worse, think it's right when it’s not." - Giles Male
"The best Excel modellers aren’t the fastest, they’re the most thoughtful."- Ian Schnoor

Follow Ian Schnoor:

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

Tracelight: https://tracelight.ai/

In today’s episode:

[02:22] - Tracelight Overview & Positioning

[09:46] - Giles vs. Excel eSports Battle Case

[18:00] - Reviewing Tracelight’s Logic and Output

[28:04] - Advanced Test: Championship-Level Modeling

[33:59] - AI Tools and the Learning Curve

[41:49] - Deferred Revenue Schedule Test

[56:26] - Why Doesn’t the Balance Sheet Balance?

[1:02:21] - Fixing Balance Sheet Errors Using Cloud Opus

[1:316:00] - Episode Wrap-Up and Final Thoughts

Introducing the ModSquad: Testing AI Financial Modeling Tools, So you Don't Have To... with Ian and Giles.

Tue, 07 Oct 2025 05:30:00 -0600

In this special launch episode of The Mod Squad, host Paul Barnhurst is joined by co-hosts Giles Male and Ian Schnoor to explore the evolving intersection of artificial intelligence and financial modeling. Together, they introduce a new podcast series, The ModSquad, designed to test AI tools built for financial modelers, FP&A professionals, and analysts. The trio shares their excitement, cautious optimism, and the pressing questions they hope to answer through hands-on experimentation with cutting-edge tools that promise to transform the modeling landscape.

Paul, Giles, and Ian bring decades of combined experience across FP&A, corporate finance, Excel training, and financial modeling accreditation. This introductory episode sets the tone for a candid, unscripted, and deeply analytical journey into the practical realities of AI in finance.

Expect to Learn

Why AI won't replace financial modelers, but will transform the way they work
How AI tools are being developed to serve finance professionals specifically
The importance of judgment, communication, and scoping in effective modeling
What The Mod Squad plans to test: from three-statement models to Excel esports
How to prepare your career for the AI revolution in modeling

Here are a few quotes from the episode:

“Just because it looks cool doesn’t mean it gives you a finished product.” - Giles Male
“Modeling is just as much the journey as it is the destination.” - Ian Schnoor

Follow Ian Schnoor:

LinkedIn - https://www.linkedin.com/in/scott-strachan-ca-a795851a4/?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:

[01:21] - Introduction of the Episode

[04:57] - Why This Series? Helping Modelers Cut Through the AI Noise

[09:14] - Fear & Job Security: Will AI Replace Financial Modelers?

[14:14]- The Human Element in Modeling: Judgment, Communication, Scoping

[21:03] - Series Format: Tools We’ll Test & Why

[26:03] - Testing Assignments: Who’s Doing What?

[29:03] - FP&A Use Cases Paul Will Explore

[35:21] - What to Expect: Raw Prompts, Real Results

[36:52] - Closing: Why This Series Matters & How You Can Engage

Financial Modeling for Finance Pros to Fix Real-World Mistakes Using Balance Sheets - Scott Strachan

Tue, 30 Sep 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst speaks with financial modeling expert Scott Strachan about the role of financial models in business planning and decision-making. Scott shares lessons from over 30 years of experience in accounting, consulting, private equity, and corporate finance. The discussion covers the importance of modeling for startups, the problems with annual models, the risks of overrelying on EBITDA, and how the FMI certification has helped him stay sharp in a changing industry.

Scott Strachan is a Chartered Accountant and Chartered Financial Modeler who has worked across the UK, the Arabian Gulf, and now serves clients in Qatar and London. He has built and reviewed complex financial models for deals worth hundreds of millions of dollars, and now contributes to the Financial Modeling Institute as a content developer and exam writer. Scott is known for applying practical thinking to modeling and helping bridge the gap between theory and real-world execution.

Expect to Learn

Why annual models are often inappropriate for startups and small businesses
The difference between one-time-use models and those built for regular updates
How poor modeling leads to funding gaps and business failure
Why EBITDA can be misleading in deal evaluation
How preparing for the CFM exam can improve your modeling skills

Here are a few quotes from the episode:

“A model is just an appendix to a business plan. If you don’t understand your market or product, no model will save you.” - Scott Strachan
“EBITDA is a fantasy land metric. It ignores reality and tells you what you want to hear, not what you need to know.” - Scott Strachan
“Every business fails because of bad management, and that often starts with not modeling your cash needs properly.” - Scott Strachan

Follow Scott:

Follow Paul:

Website - https://www.thefpandaguy.com  

LinkedIn - https://www.linkedin.com/in/thefpandaguy

Follow Financial Modeler's Corner: 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:20] - Scott’s Background & Career in Modeling

[06:26] - Why Annual Models Often Fall Short

[09:11] - Why Startups Need Monthly Models

[13:54] - Working Capital Mistakes in Startups

[17:59] - Disposable vs. Ongoing Models

[26:37] - Thoughts on EBITDA and Adjusted EBITDA

[33:31] - Why Models Don’t Replace Business Fundamentals

[40:25] - Excel Shortcuts and Modeling Habits

[42:43] - Rapid Fire: Modeling Preferences

[45:58] - Final Advice & How to Reach Scott

Why Finance Students Must Learn Discipline Before AI Replaces Their Jobs with David Stangeland

Tue, 23 Sep 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, Host Paul Barnhurst sits down with David Stangeland, a finance professor at the University of Manitoba, to talk about teaching financial modeling, how students learn best, and the tools that have changed over the years, from PV tables to Excel. David shares what he's learned from more than 30 years in the classroom, why planning is so important in modeling, and how he uses real money investing through a student-managed fund to teach hands-on skills. He also talks about the value of the FMI curriculum, the role of judgment in modeling, and why he still learns something new every time he teaches.

David has been teaching at the University of Manitoba’s Asper School of Business since 1991. He has a PhD from the University of Alberta and is both a CPA and a CMA. His research focuses on corporate governance and performance and has been published in top finance journals. He’s co-authored two corporate finance textbooks and currently advises the school’s $2.8 million student-managed investment fund.

Expect to Learn

The most common mistakes students make when building models
How Excel helps students better understand what they're doing
Why structure and layout matter in a financial model
The importance of combining modeling with real-world context
How the FMI curriculum is used in teaching valuation and asset management

Here are a few quotes from the episode:

“There’s no one right answer in valuation. It’s about making good assumptions and thinking through your logic to build a credible story.” - David Stangeland
“Don’t think you know it all. Always be open to learning and improving. That mindset will take you further than any formula.” - David Stangeland
“Spreadsheets aren’t going anywhere. Whether it’s Excel or something else, that flexible grid is still the best way to work with data.” - David Stangeland

Follow David:

LinkedIn - https://www.linkedin.com/in/david-stangeland-phd-cpa-cma-b-comm-29773946/?originalSubdomain=ca

Follow Paul:

Website - https://www.thefpandaguy.com  

LinkedIn - https://www.linkedin.com/in/thefpandaguy

Follow Financial Modeler's Corner: 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[02:03] - David’s Background

[06:36] - Love for Teaching

[10:05] - Starting with NPV Tables

[13:54] - From Calculators to Excel

[22:20] - Teaching with Three-Model Framework

[27:54] - Current Projects Outside Teaching

[33:19] - Modeling Standards Followed

[35:20] - Favorite Lookup Function

[37:18] - Advice for Aspiring Modelers

From Classic Cars to Aircraft: The Art of Modeling Distressed Companies with Vaughan Grandin

Tue, 16 Sep 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Vaughan Grandin, Managing Director and Head of Financial Modeling at Teneo. They discuss his experiences building financial models in distressed situations, the importance of empathy in working with clients, and provide examples of complex models, including those from the airline, aircraft leasing, and classic car dealership industries.

Vaughan Grandin is the Managing Director and Head of Financial Modeling at Teneo in London. He is a Chartered Accountant with the South African Institute of Chartered Accountants and has more than 20 years of experience in corporate advisory, finance, and restructuring. He leads Teneo’s financial modelling team, which supports clients and other advisory teams by creating reliable models for distressed companies, transactions, and stakeholder analysis.

Disclaimer: All examples and stories shared in this video are from Vaughan Grandin’s previous roles and do not reflect his current employer.

Expect to Learn

Why empathy matters in financial modeling
How to approach modeling in distressed situations
The role of entity priority models and circular references
Key principles for building robust financial models
Lessons from real-world modeling cases across industries

Here are a few quotes from the episode:

“Empathy is a word I think about a lot in modeling, especially in distressed situations.” - Vaughan Grandin
“A good model should be able to take whatever inputs you give it and actually use them to solve a problem.” - Vaughan Grandin
“In distressed situations, time pressure is real; sometimes, a company only has weeks of cash left.” - Vaughan Grandin

Follow Vaughan:

LinkedIn - https://www.linkedin.com/in/vgrandin/?originalSubdomain=uk

Company - https://www.teneo.com/person/vaughan-grandin/

Follow Paul:

Website - https://www.thefpandaguy.com  

LinkedIn - https://www.linkedin.com/in/thefpandaguy

https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Follow Financial Modeler's Corner: 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 

Newsletter - Subscribe on LinkedIn-

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[03:22] - Model Horror Stories

[06:52] - Empathy in Modeling

[07:55] - Inside Teneo’s Team

[12:50] - Classic Car Dealership Model

[21:16] - Modeling in Distressed Situations

[27:56] - Managing Complexity

[32:07] - Aircraft Leasing During COVID

[40:31] - Six Elements of Robust Modeling

[46:51] - Rapid-Fire Excel Q&A

[53:45] - Closing Reflections

Why Spreadsheets Will Stay, but Financial Modeling Workflow and Version Control Must Be Rebuilt with Matt Lee

Tue, 09 Sep 2025 05:00:00 -0600

In this episode of Financial Modeler's Corner, host Paul Barnhurst is joined by Matthew Lee, Co-Founder and CEO of Nummo, a software tool built to help analysts and bankers build financial models more efficiently. Matt explains why he started the company after years in investment banking and as a CFO, and what he sees as the real opportunities and limits of automation in financial modeling. The conversation covers the pressure of dealing with work, common modeling mistakes, and where tools like Nummo can help speed things up without replacing analysts. Matt also shares thoughts on what makes a good model and why hands-on understanding still matters most.

Matt is the Co-Founder and CEO of Nummo, an AI co-pilot for financial modeling that he wished he had during his time in finance. Before Nummo, Matt worked as an investment banker at Lazard, helping to execute sell-side and buy-side M&A deals totaling around $6 billion in enterprise value. He also served as CFO at a digital product studio, overseeing financial planning for emerging tech products launched by Fortune 500 firms and early-stage ventures. With over 40,000 hours in Excel, Matt built Nummo to deliver a banker-grade modeling platform that runs fully on-device, maintains cell-level accuracy, and automates workflows like DCFs, LBOs, comps, and fairness opinions.

Expect to Learn

Why financial models still need human input
Where tools like Nummo can improve modeling workflows
Why version control and hidden hard codes cause major issues
How to balance automation with accuracy and narrative
Why it’s critical to never outsource your understanding of a model

Here are a few quotes from the episode:

We’re about 30% of the way there. AI can help, but it can’t yet build a fully detailed, nuanced model.” - Matthew Lee
“Even with automation, you still need to check for hidden hard codes and make sure your model tells the right narrative.” - Matthew Lee
“Formatting, standardization, and QA are where AI is already adding value today.”- Matthew Lee

Follow Matthew:

LinkedIn - https://www.linkedin.com/in/matthew-m-lee/

Company - https://www.nummo.xyz/

Follow Paul:

Website - https://www.thefpandaguy.com  

LinkedIn - https://www.linkedin.com/in/thefpandaguy

Follow Financial Modeler's Corner: 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[02:28] - Matt’s background

[03:54] - Worst modeling mistakes

[06:24] - What Nummo is and how it works

[11:10] - Biggest Challenge in M&A Transactions

[15:34] - Building models that tell a story

[28:23] - How workflows are changing

[31:53] - Favourite Excel Shortcut

[39:44] - Rapid fire: Excel habits and preferences

[45:35] - Final Question & Episode

How Finance Modelers and Professionals Align Stakeholders and Support M&A Success with Morten

Wed, 03 Sep 2025 05:00:00 -0600

In this episode of Financial Modeler's Corner, host Paul Barnhurst is joined by Morten Lykke Pedersen, a seasoned financial expert and Partner at Deloitte, where he leads the financial modeling division within the Strategy, Risk, and Transaction Advisory group. Morten discusses his extensive experience in mergers and acquisitions (M&A), strategic financial modeling, and how financial models can empower businesses to make informed, data-driven decisions. He also shares insights on the importance of collaboration during the modeling process, tips for ensuring client engagement, and the role of financial models in presenting a company’s equity story.

Morten Lykke Pedersen, CFA, CFM, is a financial expert with over a decade of experience. He specializes in mergers and acquisitions (M&A), providing strategic insights that empower businesses to optimize their strategies through forecasting and risk assessment. Morten's career spans notable roles, including his tenure at PwC, where he managed valuation and modeling services. At Deloitte, Morten is dedicated to guiding businesses through complex transactions and strategic initiatives, helping them navigate industry dynamics and execute transformative transactions successfully. He holds a CFA charter and certifications in financial modeling, and his educational journey includes advanced degrees from Aarhus University, Saint Mary’s University, and the CFA Institute.

Expect to Learn

The critical role of collaboration in transaction modeling
How to build financial models that communicate a company’s story and manage risk
The importance of scenario analysis in M&A transactions
Why financial models should reflect business realities, not just numbers
How formal training programs, like the Chartered Financial Modeler (CFM), can elevate modeling skills and team capabilities

Here are a few quotes from the episode:

“Financial modeling is about understanding the business, not just crunching numbers.” - Morten Lykke Pedersen
“A financial model should only do what it’s supposed to do, keep it simple and fit for purpose.” - Morten Lykke Pedersen
“It’s not about the formulas; it’s about making sure the people who own the numbers understand what’s going on in the model.” - Morten Lykke Pedersen

Follow Morten:

LinkedIn - https://www.linkedin.com/in/mortenlykkepedersen/?originalSubdomain=dk

Company - https://www.linkedin.com/company/deloitte/

Follow Paul:

Website - https://www.thefpandaguy.com  

LinkedIn - https://www.linkedin.com/in/thefpandaguy

Follow Financial Modeler's Corner: 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 

Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[02:16] - Guest Background

[03:43] - Worst Model Horror Story

[07:58] - Client Engagement

[11:52] - Conveying Company Value

[13:35] - Supporting Assumptions with Data

[21:11] - The CFM Journey with Morten's Team

[31:19] - Favorite Excel shortcut.

[32:14] - The Number One Career Lesson

[33:39] - Rapid-Fire Questions

[37:38] - Final Advice

The 40th Anniversary of Excel: Unlocking the fascinating History, Easter Eggs, Excel humor, and more

Wed, 27 Aug 2025 06:00:00 -0600

In this episode of Financial Modeler's Corner, host Paul Barnhurst celebrates the 40th anniversary of Microsoft Excel, a tool that has revolutionized the financial modeling industry and many others. Paul explores Excel’s fascinating history, its evolution over four decades, and shares interesting facts, hidden Easter eggs, and fun surprises that Excel enthusiasts will appreciate. From the first graphical interface to modern-day features like dynamic arrays, this episode showcases how Excel has shaped the way we work and how it continues to be an essential tool for financial modelers.

Expect to Learn

The fascinating origin story of Excel and its early days on the Mac.
Fun facts about Excel’s features, including its secret limitations and quirky surprises.
Excel's functionality has evolved over the years to include over 500 functions.
Hidden Easter eggs and games that were embedded in older versions of Excel.
Creative and unique Excel projects, including games and pixel art, showcase the limitless possibilities within Excel.

Here are a few quotes from the episode:

"The first version of Excel only had 150 functions, and now we’re up to 516! That’s quite a leap over 40 years." - Paul Barnhurst
"Sometimes, the most creative projects come from using Excel in ways you never thought possible, like pixel art or creating a full video game." - Paul Barnhurst
"The tool of choice for modelers is Excel, and it has a lot more to offer than meets the eye." - Paul Barnhurst

Follow Paul:

Website - https://www.thefpandaguy.com  

LinkedIn - https://www.linkedin.com/in/thefpandaguy

Follow Financial Modeler's Corner: 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 

Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[02:17] - 16 Fun Facts About Excel

[08:11] - Excel's Evolution

[14:58] - Excel Easter Eggs

[16:55] - Excel Jokes to Lighten the Mood

[19:13] - Epic Excel Creations: Stunning Art

[23:11] - Wrapping Up and Final Thoughts

Three-Statement Modelling for FP&A Pros to Avoid Complex Builds & Forecast Errors with Chris Reilly

Tue, 19 Aug 2025 05:00:00 -0600

In this republished episode of the Financial Modeler’s Corner, host Paul Barnhurst revisits the intricate world of financial modeling with returning guest Christopher Reilly. The conversation centers around what is necessary to build robust financial models, highlighting the importance of three-statement models and cash flow forecasting. The episode is filled with practical insights, advanced techniques, and professional experiences that underscore the significance of simplicity, accuracy, and best practices in financial modeling.

Christopher Reilly is a seasoned financial modeler with extensive experience in consulting, private equity, and financial modeling education. Starting his career during the financial crisis, Chris worked on high-profile bankruptcies such as Lehman Brothers and Rescap. His journey took him from a senior analyst role at Hilton Worldwide to a middle-market private equity firm, and eventually led to founding his own financial modeling education business. Today, he focuses on teaching and building financial models, with his work being featured by Wharton Online, Wall Street Prep, and LinkedIn Learning, among others.

Expect to Learn:

The importance of simplicity in financial models and how over-complicating can hinder their effectiveness.
Practical steps and considerations for building robust three-statement financial models.
Tips for auditing models to ensure accuracy and integrity.
How to use advanced Excel functions and shortcuts to enhance modeling efficiency.
Insights into the role of AI in financial modeling and how it may shape the future of the profession.

Here are a few quotes from the episode:

“All models are wrong, some are useful, and if it’s too complicated, it’s not useful.” - Chris Reilly
“AI won’t replace modelers, but it will complement us by improving assumption accuracy and reducing bias.” - Chris Reilly
“Use the BASE structure: Beginning, Addition, Subtraction, Ending, it’s the easiest way to audit support schedules.” - Chris Reilly

Follow Christopher:

Website - https://www.financialmodelingeducation.com/
LinkedIn - https://www.linkedin.com/in/chris-reilly-mission-capital/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpandaguy

Follow Financial Modeler's Corner: 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[02:13] - Horror Story

[03:46] - Why simple models are most effective

[04:52] - Christopher’s career journey

[08:07] - Passion for teaching financial modeling

[11:31] - Why finance pros need 3-statement modeling

[14:13] - Getting started with a 3-statement model

[26:18] - Setting Up the Financial Plumbing

[32:01] - Tips for error checks & model integrity

[38:26] - Must-know Excel formulas & functions

[46:16] - How AI may shape financial modeling

[49:13] - Chris Reilly’s Financial Modeling Courses

How FP&A Teams Turn Confusing Budgets into Strategic Tools That Drive Alignment with Sarah Schlott

Tue, 12 Aug 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Sarah Schlott, founder of The Schlott Company. Sarah shares her perspective on why financial models often fail, not because of bad math, but because they don’t reflect how real businesses work. She talks about what it takes to earn trust as a finance partner, how to clean up messy data without losing momentum, and the importance of getting the right people involved in the process. Sarah and Paul also dive into how finance teams can shift from reactive number-crunchers to proactive business partners that bring clarity and confidence to decision-making.

Sarah Schlott is a strategic finance leader with over 18 years of experience guiding companies through growth, M&A, and operational change. She’s worked across corporate finance, forecasting, budgeting, and reporting infrastructure. Sarah is the founder of The Schlott Company, where she helps founders bring order to financial chaos. Her approach blends classic FP&A with modern tools and a deep understanding of real-world business dynamics. She believes finance should bring clarity, not confusion.

Expect to Learn

Why overly complex models usually create more confusion than insight
What it means to be “battle-tested” as a finance leader
How to build models that reflect business reality, not just spreadsheets
What to do when the data is unreliable or inconsistent
Why involving department heads early leads to better models and better outcomes

Here are a few quotes from the episode:

"When you’re constantly fighting about the numbers, you’re not ready to present the model." - Sarah Schlott
"If the people who own the numbers don’t see themselves in the model, you should probably just chuck it." - Sarah Schlott
"Stop being the cop. Be the radio tower that keeps everything aligned." Sarah Schlott

Follow Sarah:

LinkedIn - https://www.linkedin.com/in/sarahschlott/

Website - http://www.sarahgschlott.com/

Company - https://theschlottco.com/

Follow Paul:

Website - https://www.thefpandaguy.com  

LinkedIn - https://www.linkedin.com/in/thefpandaguy

Follow Financial Modeler's Corner: 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 

Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:53] - Introduction to Sarah Schlott

[03:14] - Worst Model Horror Story

[07:48] - Founding The Schlott Company

[10:19] - Experience Needed to Go Fractional

[14:53] - Building Finance That Brings Calm, Not Confusion

[17:28] - How to Work with Messy Data

[20:58] - Pressure Testing Financial Models

[28:04] - Finance as a Radio Tower, Not a Traffic Cop

[39:39] - Rapid-Fire: Excel Tools and Modeling Styles

[43:37] - Wrapping Up and Final Thoughts

An AI Excel Tool for Finance Teams to Speed Up DCFs and Scenario Modelling with Nico Christie

Tue, 05 Aug 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Nico Christie, co-founder of Fundamental Research Labs and creator of Shortcut, the superhuman Excel agent. Nico shares insights into his fascinating journey, from being a professional athlete to leading groundbreaking AI projects. Together, they explain how AI is revolutionizing financial modeling and making Excel smarter than ever before. Nico also discusses his work at Fundamental Research Labs, where they aim to build digital humans using AI, and the development of Shortcut, which aims to streamline the way we use Excel for financial modeling tasks.

Nico Christie is the co-founder of Fundamental Research Labs and the CEO of Shortcut, a cutting-edge AI tool designed to supercharge Excel. Nico’s diverse background spans professional athletics, corporate finance, and AI research. His work at Fundamental Research Labs focuses on building AI that mimics human-like qualities, such as emotional experiences and consciousness. Nico has a passion for both technology and the real-world applications of AI in tools like Excel, making complex tasks faster and more intuitive.

Expect to Learn

How Shortcut is revolutionizing Excel for financial modeling with AI.
The process behind building digital humans at Fundamental Research Labs.
Nico’s journey from professional dunker to AI innovator.
How AI tools like Shortcut are transforming the financial modeling landscape.
Insights on the future of AI in Excel and the response from companies like Microsoft.

Here are a few quotes from the episode:

"I just think Excel is the most beautiful design software ever created by humans." - Nico Christie
"The goal of the company is to build digital humans, giving AI all of the fundamental human qualities, not just intelligence." - Nico Christie
"People who were initially afraid of AI are no longer afraid once they see how it can be used in software engineering." - Nico Christie

Follow Nico:

LinkedIn - https://www.linkedin.com/in/nicochristie/
Twitter - https://x.com/nicochristie

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy
YouTube - https://www.youtube.com/@thefpandaguy

Follow Financial Modeler's Corner: 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[02:15] - Introduction to Nico Christie

[02:38] - Worst Model Horror Story

[06:32] - Upcoming Projects and Exciting Roadblocks

[09:14] - The Journey to Dunking

[17:21] - The Power of Excel's Top Buttons

[20:17] - Reviewing vs. Starting from Scratch

[21:38] - Struggles with Formatting in Model Reviews

[32:35] - The Impact of AI Tools on the Profession

[37:26] - Favorite Excel Shortcut

[39:54] - Financial Models as Decision-Making Tools

[42:34] - Wrapping Up

The Truth About Project Finance for Modelers to Avoid Complexity & Build Impact with Patrick Daguet

Tue, 29 Jul 2025 05:00:00 -0600

In this episode of Financial Modeler's Corner, host Paul Barnhurst sits down with Patrick Daguet, a seasoned finance professional, educator, and structured finance expert for a thoughtful and inspiring conversation about the real-world side of financial modeling. With over four decades in the industry, Patrick shares what he's learned from years of building models, working on massive infrastructure deals, and teaching the next generation of finance professionals. From navigating the challenges of project finance to celebrating those satisfying “balance sheet balances” moments in the classroom, Patrick offers a grounded, practical perspective on how modeling works beyond the spreadsheet.

Patrick is the President of Sharklets, a training company specializing in CFA, FRM, and CAIA prep, and a Senior Professor at IÉSEG School of Management. With a background in structured finance, infrastructure projects, and model design, he bridges academic rigor with practical experience. He has helped train thousands of finance professionals across the globe and continues to lead CFM study groups. Patrick’s love for teaching is matched by his real-world expertise, having worked on major infrastructure deals, including France’s national stadium.

Expect to Learn

Why financial models should be treated as decision-making tools, not just math.
What makes project finance models more complex than corporate ones.
The real-world impact of financial models, from runways to stadiums.
How teaching has shaped Patrick’s understanding of modeling.
Why lifelong curiosity is the key to staying relevant in finance.

Here are a few quotes from the episode:

“A financial model is a decision tool that incorporates all the information necessary to form your own judgment." - Patrick Daguet
"I fell into teaching when people told me I had a talent for explaining the complex clearly." - Patrick Daguet
"You are sentenced to lifelong learning when you choose a career in finance." - Patrick Daguet

Follow Patrick:

LinkedIn - https://www.linkedin.com/in/patrickdaguet/
Email - p.daguet@ieseg.fr

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy
YouTube - https://www.youtube.com/@thefpandaguy

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:59] - Guest Intro: Patrick’s Background

[03:34] - Modeling Horror Story

[07:28] - Defining a Financial Model

[08:46] - Lifelong Learning & Certifications

[11:58] - Passion for Project Finance

[14:39] - Favorite Project: Stade de France

[17:58] - Challenges in Project Finance Models

[24:59] - Transition to Teaching

[31:30] - CFM Study Groups & Community

[37:20] - Excel Tools & Rapid Fire Round

[45:12] - Closing Advice & Takeaways

How Financial Modelers Rely on Memorability, Not Accuracy, to Get Ahead in Excel with Finance Bro

Tue, 22 Jul 2025 05:00:00 -0600

In this episode of Financial Modeler's Corner, host Paul Barnhurst invites "Your Average Finance Bro," for a light-hearted and humorous conversation about financial modeling. The episode takes a comedic spin on the often serious world of finance, diving into the importance of Excel, the art of building memorable models, and even how Excel proficiency can play a role in dating. Expect a mix of fun and insight, with Finance Bro offering his unconventional wisdom about financial modeling, presenting with confidence, and making your work stand out in the finance world.

Your Average Finance Bro, is a renowned figure in the financial modeling world. He has built a reputation not just for his financial modeling skills but also for his humorous take on the profession. He's a self-proclaimed founder of Goldman Sachs, inventor of the discounted cash flow model, and someone who has been involved in some of the most memorable (and fictional) moments in finance history. Finance Bro brings a fun and unconventional approach to the world of finance, often blending humor with expert insights.

Expect to Learn

The importance of memorability in financial modeling and how it can impact your career.
Why Excel continues to dominate financial modeling and how Finance Bro contributed to its popularity.
The lighter side of financial modeling, including hilarious pranks and Excel jokes.
How to present financial models with confidence, even if the numbers are questionable.
The essential skills and mindset needed for financial modelers to stand out, especially in high-pressure situations.

Here are a few quotes from the episode:

"Memorability is extremely important in financial modeling. If you screw up, people will remember that forever." - Your Average Finance Bro
"The ability to present a model is more important than the model itself." - Your Average Finance Bro
"If you can't teach someone how to build a model, you’re not teaching them anything at all." - Your Average Finance Bro

Follow Finance Bro :

LinkedIn - https://www.linkedin.com/in/your-average-finance-bro/
Instagram - https://www.instagram.com/youraveragefinancebro/?hl=en
Website - linktr.ee/financebro
YouTube - youtube.com/@youraveragefinancebro

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy
YouTube - https://www.youtube.com/@thefpandaguy

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[02:57] - Guest's Background

[04:33] - Becoming a Strong Financial Modeler

[06:27] - Defining Financial Modeling

[09:20] - What to Do When Your Model Breaks

[14:14] - Why Excel Dominates Over Google Sheets

[17:46] - Circular References vs. Leg Day

[19:28] - Favorite Code Words

[24:40] - Favorite Industry to Model

[26:07] - Rapid Fire Section

[28:38] - Favorite Lookup Function

[29:51] - Closing Thoughts

How Students Master Financial Modeling and Bridge the CFA Practical Skills Gap with Stephen Horan

Tue, 15 Jul 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Dr. Stephen Horan to discuss the fundamentals of financial modeling, the challenges and rewards of teaching finance, and how curiosity and simplicity are central to both education and professional modeling. Dr. Horan draws on his extensive experience as a finance professor and former Managing Director at CFA Institute, offering unique insights into the intersection of academia, practical modeling, and credentialing.

Dr. Stephen is a finance professor at UNC Wilmington and former Managing Director at the CFA Institute. He has over 30 years of experience in academia and industry, has authored award-winning research, and co-wrote Strategic Value Investing, featured on Warren Buffett’s reading list. His work bridges theory and practice in finance education. Dr. Horan is also a sought-after speaker and serves on editorial boards for leading finance journals.

Expect to Learn

What makes a model readable and useful and why fundamentals matter.
How to teach financial modeling in a way that’s active and practical.
The difference between book knowledge and real-world application in finance.
Insights into CFA Institute’s evolution toward practical skills and global relevance.
The mindset and skills students need to transition from learning to doing.

Here are a few quotes from the episode:

"Curiosity is the skill I had to learn and it’s the one that’s helped me most in my career." - Stephen Horan
"Give someone the experience of building a model and solving problems. That’s the real education." - Stephen Horan
"The ability to explain how you built a model is more powerful in an interview than listing courses on a résumé." Stephen Horan

Follow Stephen:

LinkedIn - https://www.linkedin.com/in/stephenhoranphd/
Twitter - http://twitter.com/StephenHoranCFA

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy
YouTube - https://www.youtube.com/@thefpandaguy

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[02:07] - Guest Introduction

[04:19] - Modeling Horror Story

[10:41] - Bridging Theory and Practice

[13:31] - Power of Teaching

[17:55] - Learning by Modeling

[26:23] - CFA Institute Insights

[35:07] - Favorite Excel Shortcut

[39:36] - Rapid Fire Round

[46:02] - Final Thoughts and Contact

Building a Practical Financial Modeling Course for students focused on sustainability with Michael & Janice

Tue, 08 Jul 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst speaks with Janice Shade and Michael Tapia about the intersection of sustainability, financial modeling, and education. They share the behind-the-scenes creation of a unique MBA course focused on sustainable finance and modeling at Bard College. The episode dives into horror stories from the modeling trenches, highlights the challenges of teaching complex topics in an accessible way, and explores the future of financial education and tools.

Janice is a systems entrepreneur and finance educator with over 30 years of experience. She has worked with both for-profit and nonprofit ventures, focusing on democratic access to capital and economic justice. Janice is also the author of Moving Mountains and teaches finance at Bard’s MBA in Sustainability program. Michael transitioned from the fitness industry into sustainable finance. With an MBA in Impact Finance from Bard, he co-developed and co-taught a financial modeling course that incorporates ESG data and sustainability into traditional financial analysis. Michael is passionate about inclusive, community-driven investment strategies and financial education.

Expect to Learn

What makes a financial model “fit for purpose”, and why complexity isn’t always better.
How financial modeling can support sustainability and social impact.
Tips for teaching finance to non-finance students and building curriculum from the ground up.
The importance of scenario and sensitivity analysis in forecasting.
Practical insights on bridging theory and hands-on financial modeling in academia.

Here are a few quotes from the episode:

"Finance shouldn't feel mystical or exclusive, our goal is to make it approachable and relevant." - Janice Shade
"As a former trainer, I saw how performance metrics drove change. Now I see capital can do the same, if used with purpose." - Michael Tapia
"Forecasting is hard, and no forecast is ever right. We're just trying to make it less wrong." - Janice Shade

Follow Janice:

LinkedIn - https://www.linkedin.com/in/janice-shade/
Website - https://innovatecapital.org/team

Follow Michael:

LinkedIn - https://www.linkedin.com/in/michael-tapia-

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy
YouTube - https://www.youtube.com/@thefpandaguy

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[02:29] - Introduction of Janice and Michael

[07:20] - Worst Financial Model

[14:04] - Defining a Financial Model

[15:18] - Story Behind the MBA Modeling Course

[22:43] - Janice’s Key Takeaways from First Cohort

[29:34] - Michael’s Course and Podcast Episodes

[42:45] - Favourite Shortcut in Excel

[43:47] - Creative Excel Uses

[47:32] - Rapid Fire Section

CFM Certification Tips for Financial Modelers to Pass Without 100 Hours with Carolina Lago

Tue, 01 Jul 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst and co-host Carolina Lago explore their experiences with financial modeling and the Advanced Financial Modeler (AFM) certification. They discuss the value of these certifications, the challenges of studying for them, and how these programs can improve financial modeling skills. They also provide helpful tips and insights into preparing for the Chartered Financial Modeler (CFM) certification.

Carolina is a financial modeling and FP&A specialist with over 20 years of experience. She holds the Advanced Financial Modeler (AFM) certification from the Financial Modeling Institute (FMI) and is working toward the Elite Certified Financial Modeler (CFM) credential. Carolina is passionate about teaching financial modeling and helping professionals use financial models to make better strategic decisions. Her workshops focus on best practices, scenario analysis, and providing businesses with the tools needed to navigate financial challenges.

Expect to Learn

The definition of a financial model and how to differentiate it from other types of business models.
Tips for studying for the AFM and CFM certifications, including managing time effectively and balancing models as you work.
Carolina’s experience preparing for the AFM and how to build financial models quickly under pressure.
The importance of practice in financial modeling and how to improve speed and efficiency.
The differences between the AFM and CFM certifications and why both are valuable for financial modelers.

Here are a few quotes from the episode:

"Even if I don’t pass the first time, I will have already succeeded by learning new techniques and improving my skills." - Carolina Lago
"You need to be resourceful and think quickly when preparing for the CFM. It’s about adapting to complexity in multiple areas." - Carolina Lago
"A financial model is anything that has inputs, calculations, and outputs, but at the same time answers a business question." - Carolina Lago

Follow Carolina:

LinkedIn - https://www.linkedin.com/in/s-carolinalago?originalSubdomain=ch
Website - carolinalago.com
Course Tactic On-Demand: https://tacticfinancial.com/financial-model-for-you/
newsletter: https://pages.tacticfinancial.com/thetacticalroom

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy
YouTube - https://www.youtube.com/@thefpandaguy

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[08:03] - What is a Financial Model?

[12:52] - Fun Use of Excel in Personal Life

[17:06] - Learning About FMI

[24:41] - Toughest Area in AFM Preparation

[28:19] - Advice for AFM Exam

[38:07] - CFM Difficulty and Value

[42:36] - Broken Spreadsheet Joke

[44:56] - Wrapping Up the Episode

How Finance Professionals Can Grow with Excel, Avoid Automation Traps, and Build a Brand with Jon Acampora

Tue, 24 Jun 2025 05:00:00 -0600

In this episode of Financial Modeler's Corner, host Paul Barnhurst sits down with Jon Acampora to discuss the ever-evolving world of financial modeling, focusing on Excel. Jon shares about the importance of creating user-friendly models and the impact of Excel Esports on financial modeling skills. The conversation covers best practices for building efficient models, lessons from Excel competitions, and how new technologies like Power Query and AI are shaping the future of modeling.

Jon is the founder of Excel Campus, a Microsoft MVP, and an expert in helping Excel users simplify and automate their workflows. With over 600,000 YouTube subscribers, Jon is passionate about making Excel both fun and efficient. He’s also a regular commentator for Excel Esports competitions, where Excel professionals compete to solve complex modeling challenges in real time. Jon’s mission is to help people leverage Excel to boost productivity and creativity, making financial modeling more accessible and enjoyable.

Expect to Learn

The importance of building financial models that are easy for others to understand and use.
Jon's take on the role of Excel Esports in advancing modeling skills and fostering creativity.
How Power Query can save you hours of data processing time in Excel.
Why financial modelers should focus on simplicity and automation rather than over-complicating their models.
Insights into the future of financial modeling with the integration of Python and AI tools.

Here are a few quotes from the episode:

“AI is great at generating code, but it’s the human creativity that still leads the way.” - Jon Acampora
“As an Excel professional, it's important to make models that others can easily work with, even if they don't have the same technical skills you do.” - Jon Acampora
“If you want to be great at Excel, you have to understand that learning never stops. There’s always something new to discover.” - Jon Acampora

Follow Jon:

LinkedIn - https://www.linkedin.com/in/jonacampora/
YouTube - https://www.youtube.com/user/ExcelCampus
Website - https://www.excelcampus.com/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy
YouTube - https://www.youtube.com/@thefpandaguy

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[03:45] - Horror Story

[08:50] - Defining Financial Models

[11:55] - From Accounting to Excel Business

[18:42] - Competing in Excel Esports

[21:27] - What Jon Enjoys About Announcing

[27:36] - Advice for Aspiring Excel Competitors

[37:43] - Memorable Teaching Moment

[42:43] - Favourite Excel Shortcut

[45:12] - Rapid Fire Section

Excel SIM Method for Finance Students to Master Three Statement Models Fast with Drew Blazsik

Tue, 17 Jun 2025 04:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Drew Blazsik to dive into the evolving world of financial modeling in academia. Drew brings a fresh perspective on how students can better grasp complex concepts using structured, interactive learning. The conversation touches on practical teaching methods, the common pitfalls students face, and why blending creativity with structure is key to mastering the three-statement model.

Drew Blazsik is an assistant professor at Adrian College, where he teaches finance and economics. With over a decade of teaching experience at institutions like the University of Toledo and Lourdes University, Drew has a passion for connecting academic finance theory with real-world applications. He is also the creator of the Structured Immediate Method (SIM), an innovative teaching tool designed to help students master financial modeling skills in a dynamic and engaging way. Drew hosts the Faith and Finance Podcast and runs the Logos and Markets YouTube channel, where he explores financial modeling, economic theory, and more.

Expect to Learn

Common mistakes students make in financial modeling and how to avoid them.
How Drew’s Structured Immediate Method (SIM) enhances student learning.
Why learning Python is crucial for modern financial modelers.
The impact of gamification and interactive learning on mastering financial concepts.
Drew's take on the future of financial modeling in the age of AI.

Here are a few quotes from the episode:

“Once you understand how to create a financial model, it all clicks and makes finance come together.” - Drew Blazsik
“AI is awesome for creativity, but it starts with you, the human, being creative.” - Drew Blazsik
“The SIM method helps students get instant feedback, which improves their learning and engagement.” -Drew Blazsik

Follow Drew:

LinkedIn - https://www.linkedin.com/in/drewblazsik/
YouTube - https://www.youtube.com/drewblazsik

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy
YouTube - https://www.youtube.com/@thefpandaguy

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[04:15] - Student Modeling Mistakes

[09:07] - Defining Financial Models

[12:08] - Teaching Finance vs. Economics

[18:21] - Course Feedback

[36:27] - Unique Excel Model

[39:04] - Excel Shortcuts

[42:44] - Financial Models in Decision Making

[45:40] - Importance of Python

[50:39] - Last Question

The Financial Failures in Startups for Founders to Fix Bad Data and Build Profit with Alyona Mysko

Tue, 10 Jun 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, Alyona Mysko shares her journey from a PwC auditor to a fintech founder creating FuelFinance, a no-code financial planning tool tailored for startups and small businesses. She discusses common financial modeling challenges faced by first-time founders, the complexities of the manufacturing and fashion industries, and the importance of simplifying financial models for better decision-making. Alyona emphasizes the power of effective communication and scenario planning, helping entrepreneurs and modelers make sense of numbers to drive business success.

Alyona Mysko is the Founder and CEO of FuelFinance, a fintech startup delivering no-code financial planning tools designed specifically for startups and small businesses. With a professional background starting as an auditor at PwC, Alyona transitioned into financial analysis and fractional CFO roles before launching her own company. She brings deep expertise in financial modeling and a passion for simplifying complex financial data to empower founders and entrepreneurs.

Expect to Learn

How Alyona’s audit background influenced the creation of a finance platform for startups
Why first-time founders struggle with financial modeling and how second-time founders differ
The complexity behind manufacturing and fashion business models and modeling nuances
The importance of simplified dashboards focusing on key metrics for decision-making
Why communication and storytelling in financial modeling is essential for impact

Here are a few quotes from the episode:

“Finance is just like fuel for a business. If you understand your numbers, you can go fast.” - Alyona Mysko
First-time founders don’t know what they don’t know. Second-time founders know to start with the financial model.” - Alyona Mysko
“Communication is 50% of your success as a financial modeler.” - Alyona Mysko

Follow Alyona :

LinkedIn - https://www.linkedin.com/in/alyona-mysko/
Website - https://fuelfinance.me/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy
YouTube - https://www.youtube.com/@thefpandaguy

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[02:31] - The Story Behind FuelFinance

[06:00] - Aylona’s Background

[11:03] - Industry-Specific Modeling Challenges

[18:14] - Cross-Functional Realization

[23:57] - Revenue vs. Cash Flow Realities

[28:14] - Balancing Model Simplicity

[35:11] - Key Career Lesson

[39:41] - Rapid Fire Section

How To Simplify Complex Financial Models And Save Time with Scott Powell

Tue, 03 Jun 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Scott Powell, co-founder and board member of the Corporate Finance Institute (CFI), to discuss the principles and pitfalls of financial modeling. The conversation centers around how overcomplication, legacy models, and misused functions can undermine even the most polished models, and how thoughtful planning, stakeholder consideration, and service-oriented teaching can significantly enhance modeling effectiveness.

Scott Powell brings over 25 years of global experience in corporate finance education and financial modeling. He is a founding member of the Corporate Finance Institute, where he has led the creation of impactful learning tools and courses. Based in Vancouver, Canada, Scott has worked with major financial institutions worldwide and is deeply passionate about practical finance education and the power of financial literacy to transform lives.

Expect to Learn:

Why financial models often fail and how to avoid those pitfalls.
The importance of balancing technical precision with stakeholder usability.
How teaching and empathy enhance modeling skills.
Key Excel techniques and when to avoid overengineering.
Scott’s insights into using AI and advanced Excel tools to stay current.

Here are a few quotes from the episode:

"Every time you're in Excel, try to learn just one new thing. In a year, you're going to have learned a ton." - Scott Powell
"If you open your model three days later and can’t understand what you did, then you made it too complex." - Scott Powell
"Don’t start building your model until you understand the end goal and the user’s needs." - Scott Powell

Scott’s thoughtful and service-driven approach makes this episode a must-listen for anyone in the world of financial modeling. His real-world stories, practical Excel strategies, and emphasis on simplicity offer powerful insights. Whether you’re building your first model or refining your 100th, Scott’s advice will help you level up. A valuable guide for modelers who want to build with purpose and clarity.

Follow Scott :

LinkedIn - https://www.linkedin.com/in/scott-powell-cpa-fca-fmva-84baa71/overlay/photo/
Website - corporatefinanceinstitute.com
Company - learningstrategiesgroup.com

Follow Paul:

Website - https://www.theFP&A ndaguy.com  
LinkedIn - https://www.linkedin.com/in/theFP&A ndaguy 
YouTube - https://www.youtube.com/@theFP&A ndaguy

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:14] - Welcome and Guest Intro

[03:00] - Model Horror Story

[10:09] - Founding CFI

[14:13] - Memorable Teaching Moments

[16:30] - Starting a Model

[21:28] - Technical vs. Soft Skills

[24:20] - Advice for Trainers

[30:23] - Keeping Up with Excel

[39:44] - Fun with Excel

[41:18] - Rapid Fire Round

[47:21] - Final Thoughts and Wrap-Up

How Financial Modeling Errors in Real Estate and Biotech Cost Analysts Millions with Narek Grigorian

Tue, 27 May 2025 05:00:00 -0600

In this episode of Financial Modeler's Corner, host Paul Barnhurst talks with Narek Grigorian, a seasoned financial modeler and investment professional with deep experience across real estate, energy, and biotech sectors. Narek shares candid stories about the worst financial model he ever worked on, one that looked polished but was fundamentally flawed, missing key components like taxes, depreciation, and tenant turnover. He explains how these mistakes can mislead decision-makers and why it’s critical to understand not just the numbers but also the assumptions behind them.

Narek Grigorian currently works at US Capital Global, a global investment banking firm focused on real estate and energy projects, particularly in the lower to middle market space. He holds degrees from Georgetown University and the University of Maryland and brings a passion for financial modeling, innovation, and teaching. Narek believes that while all models are inherently imperfect, they still provide valuable guidance, if built with thoughtful assumptions and continual refinement.

Expect to Learn:

Why can you never fully trust a model just because it looks polished.
The critical real estate assumptions that are often overlooked, like tenant turnover and escalating costs.
How to approach energy modeling with real-time data inputs and complex variables.
Why biotech models are uniquely challenging due to regulatory and clinical uncertainties.
Tips and shortcuts Narek uses in Excel to make modeling faster and more reliable.

Here are a few quotes from the episode:

““The toughest part is you have the wardrobe of clothes but have to create the person.” - Narek Grigorian
“Power Query and Power BI are essential tools for modern financial modelers.” - Narek Grigorian
“Vacancy rates and market growth assumptions are the most common pitfalls in real estate models.” - Narek Grigorian

Narek’s practical and approachable style makes this episode valuable for anyone involved in financial modeling whether you’re just starting out or have years of experience. His clear advice on key assumptions, Excel techniques, and industry-specific challenges offers useful takeaways to help you create more accurate and effective models.

Follow Narek :

LinkedIn - https://www.linkedin.com/in/narek-grigorian-8869a7254/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpandaguy

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:12] - Welcome To The Episode

[06:00] - About Narek and US Capital Global

[08:25] - Market Outlook: Inflation, Tariffs, and Stagflation

[10:33] - Narek’s Journey from Armenia to the US

[14:49] - Favorite Industry to Model: Energy

[17:42] - Real Estate Modeling Insights

[25:34] - Common Mistakes in Real Estate Models

[27:19] - Biopharma and Modeling Challenges

[31:42] - Excel Shortcuts and Tools

[38:22] - Power Query, Power BI, and Future of Excel

[44:18] - How to Connect with Narek and Closing

A Finance Horror Story: The Currency Conversion Catastrophe with Lauren Pearl

Tue, 20 May 2025 05:00:00 -0600

In this special episode of Financial Modeler's Corner, host Paul Barnhurst is joined by CFO and startup finance educator Lauren Pearl for a storytelling session that’s equal parts funny and terrifying. They walk through “The Currency Catastrophe,” a true finance horror story about a global company, a junior analyst, and a massive mistake involving currency conversions. As the story unfolds, Paul and Lauren react, unpack what went wrong, and share their own war stories from years working in finance.

Lauren Pearl is a CFO, startup advisor, and finance educator who specializes in helping early-stage companies build strong financial foundations. With a career that spans startups, venture-backed firms, and a stint in top-tier management consulting, Lauren brings a unique blend of strategic thinking and practical execution. She's also known for her hands-on approach to teaching financial modeling and startup finance through courses, content, and mentorship.

Expect to Learn:

What happens when you skip currency conversion in a global revenue allocation.
Why getting the basics right is just as important as the big strategy.
How one mistake can ripple across budgets, teams, and trust.
The value of transparency and ownership is when something goes wrong.
Why it’s crucial to put checks in your models, especially when currencies are involved.

Here are a few quotes from the episode:

“The finance department was such a dumpster fire, it created cloud cover for the mistake.” - Lauren Pearl
“Modelers: always put currency checks in your spreadsheets. This stuff happens more than you think.” - Paul Barnhurst
“Apologize and overcorrect. That’s the CFO playbook when you make a mistake.” - Lauren Pearl

Lauren and Paul share a story every finance professional can relate to, a small mistake that snowballs into something much bigger. Whether you’re new to finance or have been around the block, this episode is a reminder of why fundamentals matter and how a little humor can help you get through even the most stressful moments. If you've ever cringed at your own spreadsheet or scrambled to fix a report before a meeting, you'll feel right at home.

Follow Lauren :

LinkedIn - https://www.linkedin.com/in/laurenepearl/
Website - https://www.laurenpearlconsulting.com/link-list

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpandaguy

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[00:00] - Trailer

[01:43] - Welcome & Intro to the Horror Story

[03:01] - Meet Lauren Pearl

[06:07] - The Story of the Currency Catastrophe

[09:54] - When Meetings Could Just Be Emails

[13:52] - Accounting Chaos and Rising Tension

[16:59] - The Currency Blunder Uncovered

[20:00] - Why the Mistake Mattered So Much

[24:33] - Quiet Fixes and Avoiding Fallout

[27:34] - Paul’s Own Finance Mishap

[30:13] - Lauren’s Pricing Error

[34:19] - Final Lessons for Modelers

[35:07] - Closing Thoughts

Why Most Financial Models Fail for FP&A Pros to Build Business-Aligned Models with Maria Zlobina

Tue, 13 May 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Maria Zlobina, a finance professional with over a decade of experience in Big Four audit, FP&A, and business partnering roles across the US, Australia, and Russia. The conversation explores the importance of understanding the purpose behind financial models, the challenges of inheriting others’ models, and the value of continual learning in finance. Maria also shares insights into the Advanced Financial Modeler certification, her passion for efficiency, and her experience navigating the world of financial modeling.

Maria, who has a rich background in financial modeling, discusses her journey in the finance industry, her love for continuous learning, and her adventures living in different countries. She offers practical advice for modelers and professionals, including tips on making financial models dynamic, understanding the business context, and utilizing the right tools like Power BI and XLOOKUP. Maria also touches on her passion for languages and learning, sharing how her diverse experiences contribute to her success as a financial modeler.

Expect to Learn:

Why financial models are critical for decision-making and how to avoid common pitfalls
The importance of understanding the context and objectives behind a model
Tips for inheriting and improving existing financial models
The benefits of continuous learning, both professionally and personally
Insights on dynamic financial models and best practices for forecasting

Here are a few quotes from the episode:

"The magic of financial modeling isn’t in the model itself, but in how it helps guide decisions." - Maria Zlobina
"It’s not about creating the perfect model, but the model that gives the best insight for decision-makers." - Maria Zlobina
"The best financial models don’t just answer one question; they provide a range of answers." - Maria Zlobina

In this insightful episode, Maria Zlobina emphasizes the importance of dynamic financial models and understanding the business context behind them. She highlights the value of continuous learning and staying curious to improve as a financial modeler. With practical advice on overcoming challenges in modeling and working with stakeholders, Maria reminds us that great models support better decision-making.

Follow Maria :

LinkedIn - https://www.linkedin.com/in/maria-zlobina-afm-4642576b/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpandaguy

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:13] - Introduction to the Episode

[03:52] - Worst Financial Model

[06:37] - The value of continuous learning

[10:24] - That One Defining Moment

[13:09] - From Curiosity to Certification

[17:49] - Starting with the Goal in Modeling

[25:17] - Transparency in Modeling

[31:07] - XLOOKUP Time Saver

[34:24] - Rapid-fire questions

[38:16] - AI and Tools in Modeling

[43:56] - Final thoughts on modeling

How FMI and Ian Schnoor Are Helping Financial Professionals Build Better Models Around the Globe

Tue, 06 May 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Ian Schnoor, Executive Director of the Financial Modeling Institute. The conversation focuses on the growing role of financial modeling in uncertain markets, the expanding reach of FMI, and the importance of structure, clarity, and accreditation in building better business decisions. Ian shares practical insights from his global work, recent collaborations, and lessons from building multiple businesses.

Ian Schnoor is the Executive Director of the Financial Modeling Institute (FMI), the only organization offering globally recognized financial modeling accreditation. He founded The Marquee Group, which was acquired by Training the Street in 2023. Ian has trained thousands of professionals in modeling, valuation, and Excel. He teaches at Queen’s University, holds a CFA charter, and began his career in investment banking with Citigroup and BMO. He’s focused on raising the standard of modeling across the world through education and certification.

Expect to Learn:

Why financial modeling is essential during market volatility
How FMI is earning global recognition from top firms
The impact of adding financial modeling to the CFA program
Insights from FMI’s expansion into China and India
Three principles for building a successful business
A creative use of Excel to solve a real-world inventory challenge

Here are a few quotes from the episode:

“A good model helps you ask the right ‘what if’ questions, not deliver perfect answers.” - Ian Schnoor
“The true purpose of a model is to give decision-makers confidence in uncertain times.” - Ian Schnoor
“Getting the AFM means you’ve shown up, done the work, and proved your skills under pressure.” - Ian Schnoor

Ian Schnoor shared powerful insights on the role of modeling in today’s uncertain world.

He emphasized clarity, structure, and the value of accreditation in building trust and better decisions. His global work is helping elevate modeling into a true professional discipline.

A strong reminder that great models lead to great leadership.

Follow Ian Schnoor:

LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=ca

Website - https://fminstitute.com/

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy 

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 

Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:27] - Welcome back to the Episode

[04:04] - Financial modeling during market volatility

[08:01] - Updates from FMI and its global growth

[11:47] - Accreditation and why it matters

[16:41] - Partnerships in China and India

[22:02] - Excel World Cup and the global community

[24:22] - CFA Institute collaboration

[28:23] - Global expansion stories

[32:34] - Three principles for business success

[37:23] - Real-life Excel project: Baby blanket logistics

[42:48] - Rapid-fire: tools and trends in modeling

[47:37] - Final advice for modelers

How Startup Founders Can Build Investor Ready Models to Win VC Trust with Arta Ramaj

Tue, 29 Apr 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Arta Ramaj, co-founder of 360 Finance, for a discussion into the real-world challenges and nuances of financial modeling. Arta shares her journey from a geography degree to a thriving career in finance and entrepreneurship. Together, they explore the art and science of building robust financial models, the entrepreneurial mindset, and the evolving role of finance as a strategic business partner.

Arta Ramaj is the co-founder of 360 Finance, a boutique consultancy specializing in financial modeling, FP&A, and finance system implementations for private equity and venture-backed companies. With a background in private equity and a passion for bridging financial data with strategic execution, Arta brings a unique entrepreneurial perspective to the finance world. She’s dedicated to creating investor-ready financial solutions and scaling businesses through dynamic, data-driven insights.

Expect to Learn:

How Arta transitioned from studying geography to founding a financial consulting firm.
The critical importance of structure and design in financial modeling.
Key strategies for building "investor-ready" financial models.
The role of soft skills and storytelling in becoming a great finance business partner.
Why simplifying assumptions and focusing on key metrics are essential for early-stage modeling success.

Here are a few quotes from the episode:

“If you're scaling and your finance function isn't solid, you're really scaling on shaky foundations." - Arta Ramaj
”Credibility and clarity are the north stars for building investor-ready financial models." - Arta Ramaj
“Modeling for a startup is often more about flexibility and storytelling than creating a perfect spreadsheet." - Arta Ramaj

Arta Ramaj gave us a fascinating look into the world of financial modeling for startups and private equity-backed businesses, showing how structure, clarity, and strategic insight shape high-impact financial decision-making. Her experiences revealed how finance principles, business partnering skills, and storytelling all intersect to build trust with investors and stakeholders. From building investor-ready models to navigating the entrepreneurial journey, this episode showcased the critical role financial modelers play in driving growth, strategic planning, and value creation.

Follow Arta:

LinkedIn - https://www.linkedin.com/in/artaramaj/
Website - https://www.three6ixtyfinance.com

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:04] - Welcome to the Episode

[03:21] - Horror Financial Model Story

[07:02] - From Geography to Finance

[11:33] - Love for FP&A and Business

[14:26] - Starting 360 Finance

[17:46] - Why Finance Gets Overlooked

[23:32] - Building Investor-Ready Models

[29:27] - The Financial Modeler as a Therapist

[35:14] - Fun with Excel and Wedding Modeling

[38:20] - Career Advice and Final Tips

Litigation Risk Modeling for Finance Professionals with David Perla

Tue, 22 Apr 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst (aka The FP&A Guy) welcomes David Perla, Vice Chair of Burford Capital and a pioneering voice in the legal finance industry. David discusses how financial modeling plays a central role in evaluating and funding high-stakes litigation, offering a behind-the-scenes look at how his team monetizes legal risk with structured financial strategies. From managing long litigation timelines to leveraging Monte Carlo simulations and AI tools, David shares how Burford builds sophisticated models to guide investment decisions and mitigate risk.

David Perla has an extraordinary background at the intersection of law, entrepreneurship, and finance. He’s a former president of Bloomberg Law, co-founder of legal outsourcing pioneer Pangea3 (acquired by Thomson Reuters), and was named a top 50 innovator by The American Lawyer. At Burford Capital, David is helping reshape how the legal world accesses and deploys capital.

Expect to Learn:

What legal finance actually is and how it works
How Burford structures deals and evaluates legal risk
The modeling techniques used to forecast legal outcomes
Why Monte Carlo simulations are central to their underwriting process
How AI is used (and misused) in legal finance

Here are a few quotes from the episode:

“Behavior that’s irrational but predictable? We can model that. Idiosyncratic behavior? We avoid it.” - David Perla
Modeling helps us decide not only how to price a deal, but how to structure incentives.” - David Perla
Everything we do depends on modeling.” - David Perla

David Perla gave us a fascinating look into the world of legal finance and how modeling plays a critical role in managing complex litigation risk. His knowledge revealed how finance principles, AI tools, and human judgment all intersect in this unique investment space. From non-recourse funding to Monte Carlo simulations, this episode showcased the depth of modeling required in high-stakes legal decision-making.

Follow Dave:

LinkedIn - https://www.linkedin.com/in/davidperla/
Website - https://www.burfordcapital.com/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:12] - Welcome to the episode

[03:37] - Defining Legal Finance

[04:53] - Typical Legal Finance Timeline

[07:56] - Structuring Deals with Non-Recourse Funding

[11:17] - Modeling Risk with Monte Carlo Simulations

[16:32] - High-Stakes Legal Deal Sizes

[21:34] - Predictable vs. Rational Behavior in Modeling

[26:02] - Data Transparency in Insurance vs. Legal Finance

[32:31] - Tools of the Trade: Excel, Python & More

[39:44] - Future of Excel, AI, and Model Confidence

[41:32] - Strategic Decision-Making and Wrap-Up

The Real Cost of Trump’s Tariffs for Pricing Teams with Karan Sood

Tue, 15 Apr 2025 05:00:00 -0600

In this special episode of Financial Modeler's Corner, host Paul Barnhurst (aka The FP&A Guy) welcomes Karan Sood, a global pricing expert with over a decade of experience in revenue management and pricing strategies. Karan shares his knowledge on the impact of tariffs on global trade and pricing models. He talks about the complexities of tariffs, offering advice on how businesses can effectively manage the financial implications and adapt their pricing strategies during these uncertain times. Karan discusses the importance of collaboration across departments and creating flexible models that can quickly adjust to changing market conditions.

Karan Sood is a global pricing expert and the Director of Sales Operations with a wealth of experience overseeing revenue management for over $6 billion across a wide range of industries. He is passionate about using pricing as a powerful tool to drive profitability and improve business performance. Karan has worked across industries including automotive, digital marketing, consumer goods, and more, developing pricing strategies that create real business value.

Expect to Learn:

How tariffs impact different industries and pricing strategies.
Why a one-size-fits-all approach to tariffs is flawed and the importance of tailored strategies.
The role of cross-functional collaboration in managing tariff impacts.
How to create flexible pricing models that can quickly adjust to shifting market conditions.
The importance of transparency with customers when adjusting prices due to tariffs.

Here are a few quotes from the episode:

"Every industry is different; you can’t use the same assumptions for all goods under tariffs." - Karan Sood
"Stay calm, don’t make decisions too quickly. Information is constantly changing." - Karan Sood
"The key to managing tariffs is creating a flexible pricing model that can adapt quickly to new developments." - Karan Sood

Karan Sood shared meaningful strategies for managing the complexities of tariffs in today’s global trade environment. His advice to stay calm, work collaboratively, and prioritize flexibility in pricing models is invaluable for finance professionals looking to navigate the challenges posed by tariffs. By emphasizing the importance of cross-departmental communication and transparency with customers, Karan offers actionable steps that can help businesses succeed in a volatile market.

Follow Karan:

LinkedIn - https://www.linkedin.com/in/soodkaran/?originalSubdomain=ca

Website - https://substack.com/@karansood

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy 

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 

Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[02:08] - Introduction of Episode

[03:05] - Karan’s Journey into Pricing

[06:45] - The Global Impact of Tariffs

[12:05] - Why One-Size-Fits-All Doesn’t Work

[16:00] - Managing the Impact of Tariffs

[20:04] - Building Flexible Pricing Models

[23:09] - Transparency with Consumers

[28:46] - Short-Term vs. Long-Term Strategy

[34:34] - Cross-Department Collaboration

[39:06] - Book recommended by Karan

Startup vs. Corporate Financial Models & How To Build Each For Maximum Strategic Impact - Carl Olson

Tue, 08 Apr 2025 05:00:00 -0600

In this episode of Financial Modeler's Corner, host Paul Barnhurst (aka The FP&A Guy) welcomes Carl Olson, a seasoned finance leader with over two decades of experience in FP&A, consulting, and startup finance. Carl discusses the nuances of financial modeling in both startups and large companies, sharing war stories, practical frameworks, and the lessons learned from building models that drive real business decisions. Whether it's simplifying startup forecasts or navigating layers of corporate planning, Carl emphasizes the importance of context, communication, and staying aligned with business partners.

Carl Olson is a finance consultant and strategic advisor with more than 20 years of experience in FP&A, startup modeling, and enterprise finance. His background includes roles at Jamba Juice, Yelp, Unity, and several startups. Carl specializes in building operating and strategic models, guiding fundraising efforts, and helping businesses link financial modeling to real-world execution.

Expect to Learn:

How financial models differ for startups vs. large companies
Why listening to business partners is essential for model effectiveness
How to test assumptions when historical data is limited
The danger of over-automation in modeling
What makes a model usable vs. impressive

Here are a few quotes from the episode:

“If your sales model shows unrealistic rep productivity, that’s a red flag.” - Carl Olson
“Meet your business partners where they are, not where you want them to be.” - Carl Olson
“Use industry benchmarks, but know your secret sauce.” - Carl Olson

Carl Olson shared honest and practical insights from years of building financial models across startups and large companies. He reminded us that the real value of a model comes from how well it supports decision-making and helps the team move forward. His approach to keeping things simple, clear, and business-focused is something every finance professional can learn from.

Follow Carl:

LinkedIn - https://www.linkedin.com/in/olsoncarl/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:12] - Introduction of Episode

[02:02] - Carl’s Worst Modeling Experience

[06:43] - Rebuilding a Model from Scratch

[10:36] - Startup vs. Corporate Modeling

[12:57] - Big Data to Startup Forecasting

[15:09] - When Mistakes Go Unnoticed

[22:42] - Finding Gaps Through Modeling

[29:41] - Using Excel for Personal Life

[30:47] - Carl’s Favorite Excel Shortcuts

[33:32] - Rapid Fire: Tools, Preferences, and Advice

[36:24] - Avoiding the VBA Trap and Growing in Your Career

[40:38] - Carl’s Closing Advice for Financial Modelers

Financial Modeling in Retail, managing Insolvency & How Finance Can Master Cash Flow - Dave Hallwood

Tue, 01 Apr 2025 05:00:00 -0600

In this episode of Financial Modeler's Corner, host Paul Barnhurst is joined by Dave Hallwood, a finance director and certified financial modeler, for a practical and candid conversation about real-world modeling in the retail industry. From managing day-to-day operations in a fast-growing fashion retail group to navigating insolvency and restructuring, Dave shares the hard-earned lessons that have shaped his approach to modeling, decision-making, and leadership.

Dave Hallwood is the Finance Director of a group of independent fashion retailers in the UK. After spending years in retail and hospitality management, Dave transitioned into finance in his 30s, becoming a fellow of ACCA and earning his Certified Financial Modeler (CFM) designation from the Financial Modeling Institute. With a passion for practical financial modeling, Dave has built and managed models for nearly every scenario a small retailer can face, from budgeting and forecasting to store openings, closings, and insolvency planning.

Expect to Learn:

How to model retail cash flow when weather drives sales
The importance of simplicity and storytelling in financial models
What it’s like to manage an insolvency and restructure a business
Why Dave believes gut instinct still plays a big role in decision-making
How Dave uses modeling to support store openings, closures, and growth
Practical advice for switching into a finance career later in life

Here are a few quotes from the episode:

"Financial models help guide the business, but people and relationships still make it work."
"The best decision is often a balance between what the model says and what feels right."
"No matter how great the numbers look, if your gut says no, listen."

Dave Hallwood shares what it’s really like to model for a retail business. From managing cash flow swings to making tough calls during insolvency, he brings a grounded, real-world perspective. Dave reminds us that models should support decisions, not replace them. It’s a must-listen for anyone juggling numbers and navigating uncertainty.

Follow Dave:

LinkedIn - https://www.linkedin.com/in/david-hallwood-fcca-cfm-87270449/

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy 

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 

Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:31] - Welcome to the episode

[03:45] - Inheriting a messy Excel model

[06:17] - Why Dave switched careers in his 30s

[10:13] - Life as a finance lead in retail

[14:16] - Forecasting cash flow in a seasonal business

[18:54] - How to model each store differently

[26:58] - Lessons from an insolvency and business rescue

[32:59] - Why Dave supports the FMI community

[40:01] - Horizontal or Vertical Modeling Preferences

[42:23] - Gut vs. model: what really drives decisions

[44:36] - Closing Reflections with Dave

Financial Modelers Simplify Spreadsheets to Reduce Errors and Succeed in 2025 with Myles Arnott

Tue, 25 Mar 2025 04:00:00 -0600

In this episode of Financial Modeler's Corner, host Paul Barnhurst welcomes Myles Arnott, co-founder of Full Stack Modeller and founder of Clarity Consultancy Services. Myles shares his 25+ year journey in Excel, his philosophy of keeping things simple, and how structured design and tools like Power Query have transformed his approach to modeling. He also opens up about taking the FMI Advanced Financial Modeler (AFM) exam and co-building a global modeling community.

Myles Arnott is a CMA-qualified accountant, Excel trainer, and fractional finance director. He leads Clarity Consultancy Services and co-founded Full Stack Modeller, a platform built to provide finance professionals with a full toolkit of modern Excel and modeling skills. Myles blends operational finance experience with teaching, making complex modeling concepts accessible through real-world insights and practice.

Expect to Learn:

The power of simplicity in model design
How to effectively prepare for the AFM exam
Best practices for managing data flow in Excel
Why Power Query is one of Excel’s most powerful tools
How Full Stack Modeler is helping professionals level up in finance
The value of designing with clarity and reviewing with confidence
Myles’s journey from complex automation to clean, intuitive spreadsheets

Here are a few quotes from the episode:

Spreadsheet risk skyrockets when models are messy and undocumented.”- Myles Arnott
“If your data flows are poor, your insights will be too.”- Myles Arnott
“Power Query changed everything for how we manage data in Excel.”- Myles Arnott

In this episode, Myles Arnott shares how clarity, consistency, and structure create better financial models. He emphasizes the importance of design thinking, simplifying complexity, and continuously developing your skills. Whether you're preparing for the AFM or just want to clean up your modeling, Myles’s advice will guide you toward modeling excellence.

Follow Myles:

LinkedIn - https://www.linkedin.com/in/mylesarnott/

Website - https://www.fullstackmodeller.com/

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy 

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 

Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:39] - Episode Introduction

[02:49] - Worst Financial Model Mistakes

[07:55] - Leadership and AFM

[13:26] - Balancing Under Exam Pressure

[19:17] - Full Stack Origins

[23:01] - MVP Antics and Office Fun

[27:04] - Simplifying Systems and Processes

[31:13] - Power Query Tips

[36:37] - Career Lessons Learned

[46:09] - Advice to Aspiring Modelers

How Excel Transformed a Beginner into a 9 Million Follower Educator with Emma Chieppor

Tue, 18 Mar 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Emma Chieppor, founder of Excel Dictionary, a social media-driven Excel education platform with over 9 million followers. Emma shares her journey from being an actuary to becoming one of the most influential Excel educators online. She discusses the power of Excel, the challenges of running a business, and how short-form content transformed Excel learning for millions.

Emma Chieppor started her career as an actuary before launching Excel Dictionary, a platform dedicated to providing quick and practical Excel tips. Through social media, Emma has built a massive following by sharing 30-second Excel tutorials. Her expertise has helped professionals worldwide enhance their Excel skills efficiently.

Expect to Learn:

How Emma transitioned from actuary to Excel influencer
The challenges of learning Excel while starting a corporate job during COVID
Why pivot tables in financial models can be a nightmare
How Emma grew her social media following to over 9 million in less than a year
The most underrated Excel shortcuts that can save hours of work

Here are a few quotes from the episode:

“I had never really used Excel before my first job, so I had to teach myself from scratch.”
There’s no secret formula for social media. Just post good content and stay consistent.”
“If you’re learning Excel, repetition and practice are key.”

In this episode, Emma Chieppor shared her journey from actuary to Excel influencer, emphasizing consistency, hands on learning, and creativity in Excel. She highlighted the power of shortcuts, automation, and social media in making Excel more accessible. Excel is more than a tool; it is a platform for innovation and efficiency. Keep learning, stay curious, and master the skills that set you apart!

Follow Emma Chieppor :

LinkedIn - https://www.linkedin.com/in/emma-chieppor-excel-dictionary-261444235/
Website - https://excel-dictionary.com/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:30] - Introduction to the episode

[03:09] - Worst Financial Model Mistakes – Avoiding Pivot Tables

[06:43] - Emma’s Background from an Actuary to an Excel Star

[09:03] - How COVID Led to the Creation of Excel Dictionary

[13:04] - Emma’s Journey to One Million Plus Followers

[17:49] - The Importance of Consistency in Content Creation

[28:23] - Rapid-Fire Excel Questions on Excel Features

Why Law Firm Revenue & Cash Flow Forecasting Is a Nightmare (and How to Solve It) with Sean Mooney

Tue, 11 Mar 2025 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst (aka The FP&A Guy) welcomes Sean Mooney, a senior financial consultant specializing in automated financial modeling for professional services. Sean shares his journey from accounting to financial modeling, the challenges of revenue forecasting for law firms, and the power of Excel automation.

Sean Mooney is the founder of SJ Finance, a consultancy specializing in financial modeling automation for professional services firms. With 12+ years of executive finance experience in the UK and Australia, Sean has built financial models that have helped businesses secure millions in funding. He is an expert in Power Query, Excel automation, and M&A financial modeling, helping companies save up to 75% of reporting time through smart automation.

Expect to Learn:

How Sean transitioned from accounting to financial modeling
The role of Power Query in automating financial modeling processes
Key revenue forecasting challenges in law firms and service businesses
Why scenario planning is critical for financial models
How financial modeling influences business strategy and decision-making

Here are a few quotes from the episode:

“Law firms have long cash cycles, so tracking work-in-progress (WIP) is absolutely critical.”
“Debt financing can sometimes be a better alternative to private equity, but many business owners don’t realize that.”
“The biggest risk in a financial model? A black hole of stagnant WIP that never turns into revenue.”

In this episode, Sean Mooney shared his expertise on how automation, Power Query, and strong forecasting techniques can transform financial models from static spreadsheets into dynamic decision-making tools. He advises financial modelers to stress-test their models, embrace automation, and always keep learning.

Follow Sean:

LinkedIn - http://www.linkedin.com/in/sean-mooney-sjf
Company - https://sjfinance.co.uk/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:24] Introduction to the Episode

[06:55] Sean’s Passion for Financial Modeling

[09:45] Guiding Clients on Financial Decisions

[15:30] Revenue Forecasting for Law Firms

[24:38] The Potential of Power Query

[30:04] Sean’s Favorite Excel Shortcuts & Tips

[31:39] Excel Nerd Moment

[34:18] Rapid-Fire Questions

[37:53] Final Advice for Financial Modelers

Building Better Biotech Financial Models and Managing Valuation Risk with Frank David

Tue, 04 Mar 2025 04:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst (aka the FP&A Guy) sits down with Frank David, an expert at the intersection of corporate strategy, clinical medicine, and biotech research. They discuss the unique challenges of financial modeling in the biopharma industry, the importance of understanding patient populations, and how drug development strategy influences financial decision-making.

Frank David is the Founder and Managing Director of Pharmagellan, a consulting firm specializing in biotech financial modeling and valuation. With a background as a physician scientist, Frank has extensive experience advising biopharma teams and investors. He also teaches at Tufts University and is the lead author of The Pharmagellan Guide to Biotech Forecasting and Valuation and The Pharmagellan Guide to Analyzing Biotech Clinical Trials.

Expect to Learn:

The unique challenges of financial modeling in biotech and pharma.
Why "small percent of a big market" is a flawed valuation approach.
How patient segmentation impacts drug development strategy.
The importance of risk-adjusted modeling and scenario planning.
How financial modeling supports strategic decision-making in biotech investments.

Here are a few quotes from the episode:

"Most early-stage biotech entrepreneurs don’t realize they need to think about who their patients actually are and what alternative treatments exist."
"In drug development, forecasting is about managing uncertainty, not predicting exact numbers."
"The clinical strategy and commercial strategy in biotech are so intertwined that modeling them separately can be misleading."

This episode explored the complexities of biotech financial modeling. Frank shared why traditional financial modeling approaches don’t always work in the biotech industry and how strategic decision-making relies heavily on understanding patient needs, regulatory pathways, and risk assessment.

Follow Frank:

LinkedIn - https://www.linkedin.com/in/frank-s-david/
Company - https://www.pharmagellan.com/
Email - frank@pharmagellan.com
Book - https://a.co/d/gf8SwzI

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:14] - Introduction to the Episode

[02:02] - Meet Frank David

[04:17] - Financial Modeling Horror Story

[09:38] - Understanding Biotech Financial Models

[13:57] - Biotech Forecasting and Valuation

[18:15] - Where to Start When Analyzing a Drug Project

[24:52] - Risk-Adjusted Modeling in Biotech

[32:01] - Advice for Modelers in Biotech

[40:56] - Fun & Rapid-Fire Questions

[49:32] - How to Connect with Frank David

Financial Modeling Frameworks to Build Error-Free Models In Excel Using SIMPLE Method

Tue, 25 Feb 2025 04:00:00 -0600

In this episode of Financial Modeler's Corner, host Paul Barnhurst sits down with Babatope Agbeyo, a corporate trainer with extensive experience in financial modeling, Excel, and valuation. Babatope shares about his "SIMPLE" modeling framework, experiences in financial advisory at Deloitte, and lessons from training over 3,000 professionals globally. He also discusses his passion for keeping financial models structured, logical, and error-free.

Babatope Agbeyo is a financial modeling expert and corporate trainer who has worked across multiple industries, including telecom, manufacturing, oil & gas, and tech. With experience at Deloitte and D Brown Consulting, he has reviewed and audited countless financial models, refining his approach through his "SIMPLE" modeling framework. Babatope is a certified AFM and FMVA and is passionate about making financial modeling more structured and effective.

Expect to Learn:

The importance of keeping financial models simple and structured
Babatope’s SIMPLE modeling framework and how it improves modeling efficiency
Common financial modeling mistakes and how to avoid them
How to effectively audit financial models using the PAINS approach
The best industries for financial modeling and which ones are the most challenging

Here are a few quotes from the episode:

"A great financial model should be modular, meaning each calculation block is distinct and easy to read."
"Most errors I find in financial models come from poor calculations and linking mistakes."
"A well-structured financial model should be easy to read, navigate, and troubleshoot."

Financial modeling isn't just about crunching numbers, it's about telling a story with data, making informed decisions, and ensuring accuracy at every step. Babatope’s SIMPLE framework and PAINS approach remind us that clarity and structure are just as important as technical skill. If you’ve ever struggled with a model that just wouldn’t balance, or spent hours troubleshooting an error, this episode is a must-listen.

Follow Babatope:

LinkedIn - https://www.linkedin.com/in/babatopesamuelagbeyo/
Email - babatopesamuelagbeyo@gmail.com

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:18] Introduction to the Episode

[03:39] Financial Modeling Horror Story

[05:28] Lessons from Working with David Brown

[07:15] What It’s Like Working at Deloitte

[09:48] The SIMPLE Framework

[14:06] The Art of Teaching Financial Modeling

[16:16] Preparing for the AFM Exam

[21:16] The PAINS Approach to Auditing Models

[24:20] Excel Shortcuts & Unique Modeling Use Cases

[26:08] Biggest Career Lesson

[28:58] Rapid-Fire Questions

[33:38] Final Advice

[34:46] Where to Connect with Babatope

Financial Modeling Insights for Startups Seeking Venture Capital with Andres Klaric

Tue, 18 Feb 2025 04:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Andres Klaric, the co-founder and co-CEO of Fuse. In their conversation, Andres discusses common financial modeling mistakes, how startup models differ from corporate M&A models, and what investors truly look for when evaluating projections. He also shares firsthand experiences on navigating the fundraising process, balancing work ethic with personal life, and the strategic approach to scaling a company.

Andres Klaric is the co-founder and co-CEO of Fuse, a next-generation loan origination system designed to streamline lending for financial institutions through self-serve customization, a low-code API builder, and personalized agent portfolios. Andres shares his journey from investment banking and private equity to launching a fintech startup that’s reshaping loan origination. He provides insights into financial modeling for startups, securing venture capital, and the critical lessons he’s learned from Wall Street.

Expect to Learn:

The biggest mistakes and horror stories in financial modeling.
How startup financial models differ from corporate M&A models.
The key factors venture capitalists look for in startup projections.
Lessons from private equity and investment banking that shaped Andres as a CEO.
The art of balancing complexity and simplicity in financial modeling.

Here are a few quotes from the episode:

“The biggest mistake in startup modeling? Overcomplicating things when simple assumptions will do.”
“Modeling for investors and modeling for internal operations are two completely different things.”
“A bad financial model won’t kill your startup, but a bad go-to-market strategy will.”

This episode with Andres Klaric was packed with insights on financial modeling, fundraising, and the lessons learned from both Wall Street and the startup world. From the importance of keeping financial models simple to navigating investor expectations, Andres provided a masterclass on startup finance and strategic thinking. Hard work, strategy, and the ability to adapt will always outweigh an over-engineered spreadsheet.

Follow Andres:

LinkedIn - https://www.linkedin.com/in/andresklaric/
Company: https://www.fusefinance.com/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[02:59] - Worst Financial Model Horror Stories

[08:57] - The Journey to Founding Fuse

[11:53] - Lessons from Wall Street

[18:07] - Financial Modeling for Startups

[23:05] - How VCs Evaluate Startup Models

[25:06] - Fundraising Strategies & Finding the Right Investors

[32:07] - Rapid-Fire Financial Modeling Q&A

[42:34] - Final Advice & Closing Thoughts

The Role Of Financial Modeling In Investing With Author Of "Why Does The Stock Market Go Up?" Brian Feroldi

Tue, 11 Feb 2025 04:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with financial educator and author Brian Feroldi. They discuss the fundamentals of stock investing, financial modeling, and how to identify high-quality companies. Brian shares insights from his investing journey, his investing checklist, and his thoughts on valuation, competitive advantages, and the role of financial models in investment decisions.

Brian Feroldi is a financial educator, investor, and author dedicated to demystifying the stock market. With nearly two decades of investing experience, Brian has written over 3,000 articles on stocks, personal finance, and investing. His best-selling book “Why Does the Stock Market Go Up?” explains market fundamentals in simple terms. Through his YouTube channel, social media presence, and educational content, Brian helps investors make smarter decisions by focusing on business quality, valuation, and long-term investing strategies.

Expect to Learn:

Why financial models depend on good assumptions and how they can be manipulated
The biggest mistakes investors make and how to avoid them
How Brian analyzes financial statements and what metrics he prioritizes
The five key types of competitive advantages (EMOTs) in business
How to build an investing checklist to guide stock selection

Here are a few quotes from the episode:

“When I invest, I’m looking for businesses that can outperform even the most bullish expectations.”
“Understanding where a company is in its business lifecycle is critical to valuation.”
“The biggest mistake people make is using the wrong valuation model for the wrong type of company.”

Brian’s emphasis on having a structured investing checklist, focusing on competitive advantages, and choosing the right valuation method for the right stage of a company’s lifecycle highlights the importance of strategy over speculation. If you're looking to improve your investing game, start by educating yourself, refining your process, and remembering that patience often wins the race.

Follow Brian:

LinkedIn - https://www.linkedin.com/in/brianferoldi/
Website - https://www.brianferoldi.com/
Email - brian@brianferoldi.com
YouTube - https://www.youtube.com/brianferoldiyt
Book - https://a.co/d/3gS5JZL

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:02] - Introduction to Guest Brian Feroldi

[06:35] - Brian’s Investing Journey and Early Mistakes

[10:19] - Brian’s Checklist for Evaluating Companies

[15:41] - The Financial Statement Analysis

[20:24] - Competitive Advantages (EMOTs)

[29:50] - Advice to Begin Investing in the Market

[31:20] - Common Investor Mistakes

[33:51] - Valuation Models & Growth Cycles

[41:36] - Final Advice & Book Recommendations

[42:55] - Where to Find Brian

Discover How Financial Modelers Are Using Copilot and ChatGPT with Global Expert Kenny Whitelaw-Jones

Tue, 04 Feb 2025 04:00:00 -0600

In this episode of Financial Modelers Corner, host Paul Barnhurst, aka The FP&A Guy, looks into the transformative impact of Artificial Intelligence on financial modeling. The discussion explores how AI is reshaping the industry, the challenges and opportunities it brings, and what financial modelers can expect in the coming years.

Kenny Whitelaw-Jones who is the founding partner at Gridlines joins the show. As a leading expert in project finance modeling, Kenny has played a pivotal role in shaping financial modeling standards globally. With over a decade of experience training blue-chip clients and developing complex models, he brings invaluable insights into how AI is poised to revolutionize financial modeling.

Expect to Learn:

How AI is expected to significantly impact financial modeling, with Kenny's recent industry survey.
The current limitations of AI tools like ChatGPT in financial modeling and where they excel.
How project finance modeling differs from other types of financial modeling, and why Kenny finds it exciting.
The importance of soft skills and communication in the evolving role of financial modelers.
The future skills financial modelers will need to stay ahead in an AI-driven world.

Here are a few quotes from the episode:

"In the future, the routine tasks will be automated, and modelers will focus more on strategic, value-adding activities."
"Being a good modeler isn’t just about Excel skills. It’s about interpreting data and communicating results effectively."
"The change AI brings is inevitable because as soon as we can imagine it, someone will figure out how to make it happen."

As AI continues to evolve, it's clear that financial modeling is on the brink of a major transformation. Kenny Whitelaw-Jones shared not just the technical impacts we can expect from AI, but also how the role of financial modelers will shift toward strategic thinking, business interpretation, and effective communication. While tools like ChatGPT and Copilot are making waves, it’s the human element that will remain irreplaceable.

Follow Kenny:

LinkedIn - https://www.linkedin.com/in/kennywhitelawjones/
Website - https://www.gridlines.com/
Email - kenny@gridlines.com

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:46] – Meet Kenny Whitelaw-Jones

[02:35] – The Worst Financial Model Encountered

[05:43] – Why Project Finance and Renewables?

[10:04] – Survey for AI in Financial Modeling

[14:58] – ChatGPT vs. Copilot

[18:57] – Excel Innovations & the Future of Modeling

[22:34] – The Future of Financial Modeling with AI

[26:50] – Soft Skills & the Evolving Role of Financial Modelers

[33:51] – Rapid-Fire Round

[40:51] – Life Beyond Financial Modeling

[43:48] – Final Thoughts & How to Connect with Kenny

Named Ranges and External Links Fixes for Finance Professionals to Build Accurate Models - Joel Steendam

Tue, 28 Jan 2025 04:00:00 -0600

In this episode, host Paul Barnhurst aka The FP&A Guy looks into Excel expertise with Joel Steendam. Joel shares his global experiences, technical know-how, and practical advice to improve Excel proficiency and financial modeling outcomes. Their conversation covers Excel tools, design principles, and the importance of curiosity and cultural awareness in professional success.

Joel Steendam is a global Excel expert and educator with a passion for helping professionals create better financial models. As a key member of PerfectXL, he develops software to improve spreadsheet quality, mitigate risks, and promote best practices in Excel. With a multicultural background and years of experience in financial modeling, Joel blends technical expertise with a deep understanding of how culture influences collaboration and problem-solving.

Expect to Learn:

Worst financial models and how to fix common spreadsheet issues.
Why named ranges and documentation are essential in financial modeling.
How Joel’s multicultural upbringing has shaped his professional approach and success.
Practical advice on staying curious and learning new Excel skills.
The role of tools like PerfectXL in auditing and improving spreadsheet quality for financial modeling.

Here are a few quotes from the episode:

"Even best practices, when misused, can have a massive negative impact on Excel models."
"PerfectXL’s tools focus on mitigating risks and improving model quality by emphasizing structure and consistency."
"If you build something on Monday that you don’t understand by Wednesday, you’re not building the right thing."

Joel Steendam shared his expertise on improving Excel models, staying curious, and navigating the challenges of financial modeling. Financial models are powerful decision-making tools, but they’re only as effective as their structure and design allow them to be. Joel provided invaluable lessons for both beginners and experienced modelers on structure, documentation, and tools.

Follow Joel:

LinkedIn - https://www.linkedin.com/in/joel-steendam/
Website - https://www.perfectxl.com/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:49] - Introduction and Meet the Guest

[02:49] - Horror Stories in Financial Models

[04:28] - Key Takeaways from Bad Models

[06:45] - Joel’s Global Background

[10:18] - PerfectXL and Best Practices in Excel

[14:56] - Staying Updated on Excel

[18:03] - Advice for Beginners in Excel

[29:14] - Balancing Excel’s Flexibility and Risks

[36:12] - Fun Projects in Excel

[38:38] - Rapid-Fire Questions

[48:26] - Final Advice for Financial Modelers

Master The Secrets for Building Better Financial Models with The Co-founder of CFI - Tim Vipond

Tue, 21 Jan 2025 04:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Tim Vipond who is a seasoned finance professional and co-founder of the Corporate Finance Institute (CFI). They discuss financial modeling nightmares, strategy’s vital role in modeling, and the importance of avoiding shortcuts. Tim also shares his unique entrepreneurial journey and offers practical advice for improving modeling and strategic decision-making.

Tim Vipond began his career as an investment banking analyst and later transitioned to wealth management, corporate development, and e-commerce finance. As the co-founder of the Corporate Finance Institute, Tim has trained over 2 million students and introduced practical certifications that reshape how finance professionals develop their skills. Tim’s blend of financial expertise, entrepreneurial spirit, and focus on strategy makes him a compelling guest for this conversation.

Expect to Learn:

How to avoid and learn from common financial modeling mistakes.
Why aligning financial models with business strategy is critical.
The journey of building the Corporate Finance Institute and insights into e-learning success.
The role of assumptions, execution, and scenario analysis in effective modeling.
Tim’s advice on combining unique skills to propel your career.

Here are a few quotes from the episode:

“Never take shortcuts in your modeling. It’s tempting when you’re under pressure, but those shortcuts will come back to bite you later.”
“Combining two or more unique skills is the best way to get significantly ahead in your career. It’s where you stand out and add the most value.”
“Many scenarios in models are not grounded in strategy. Thoughtful, realistic scenarios tied to strategic goals are what add real value.”

Tim Vipond highlighted the interplay between technical mastery and strategic insight in financial modeling. Tim provided actionable advice on avoiding pitfalls, validating assumptions, and connecting models to overarching business goals. His emphasis on skill stacking and execution underpins the value of continuous learning and adaptation in a rapidly evolving field.

Follow Tim:

LinkedIn - https://www.linkedin.com/in/timvipond/
Website - https://vipond.com/
Company - https://corporatefinanceinstitute.com/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[02:53] Financial Modeling Horror Stories

[06:03] Building the Corporate Finance Institute

[11:18] The Role of Strategy in Modeling

[19:07] Execution and Modeling Feasibility

[22:11] Scenarios and Sensitivity Analysis

[30:52] Tim’s Favorite Investments and Skill Stacking

[34:48] Unique Modeling Stories

[36:06] Rapid Fire Questions

[41:14] Closing Thoughts and Advice

Why Losing My Dream Job Made Me the FP&A Tools Expert with Paul Barnhurst

Tue, 14 Jan 2025 04:00:00 -0600

In this special solo episode of Financial Modeler’s Corner, host Paul Barnhurst, known as the FP&A Guy, takes the spotlight to share his personal journey from a corporate financial analyst to an influential voice in financial modeling and FP&A. This episode is packed with career highlights, trends in financial modeling, and a mix of humor to kick off the new year.

With over a decade of experience in corporate FP&A, Paul is a Microsoft MVP, a globally recognized trainer, and the founder of several successful podcasts. His personal story exemplifies persistence, continuous learning, and the value of building a personal brand.

Expect to Learn:

The career journey of Paul Barnhurst of creating a thriving business and gaining global recognition.
Key lessons in financial modeling, including best practices in designing effective models.
Trends shaping financial modeling and analytics for 2025, including the role of AI.
Practical advice on building a personal brand and leveraging LinkedIn to grow professionally.
A lighter side of finance with Paul’s humorous take on financial and Excel-related jokes.

Here are a few quotes from the episode:

"When I started my own business, I didn't have everything figured out, but I believed in taking the leap and figuring it out along the way."
"The ability to build a personal brand is a career game changer, especially for financial professionals."
"If you’re not having fun with what you do, find ways to bring your personality into your work—it makes all the difference."

Paul Barnhurst takes us on a journey through his career by highlighting the lessons he’s learned and the challenges he’s faced. With light humor and practical advice, Paul inspires listeners to embrace growth, take risks, and build their own paths to success.

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:13] - Introduction and Context

[02:14] - The Early Career Struggles

[04:50] - The Pivot to FP&A

[06:24] - Building Financial Modeling Expertise

[08:44] - Starting His Own Business

[15:54] - Career in Financial Modeling

[17:24] - Humor and Fun

[20:06] - Trends for 2025

[25:43] - Rapid Fire Financial Modeling Opinions

[28:14] - Closing Remarks

AI vs. Human Insights in Financial Modeling to Build Accurate Models for Decision-Making

Tue, 07 Jan 2025 04:00:00 -0600

In the second part of "The Great Debate," expert financial modelers from around the globe discuss controversial and thought-provoking questions about the art and science of financial modeling. The discussion focuses on the enduring relevance of Excel, the role of AI and Power BI in shaping the future of modeling. This episode highlights the nuances, complexities, and future of financial modeling as a discipline.

This episode features Giles Male, co-founder of Full Stack Modeler and an Excel MVP, Will Wardle, an independent financial modeler with over two decades of experience, Carolina Lago, founder of Classic Financial, specializing in FP&A and financial restructuring for SMEs, Hedieh Kianyfard, a project finance expert from Iran, known for her practical solutions to complex modeling challenges, Oz du Soleil, a YouTube star and Excel MVP, renowned for his engaging tutorials and insights, Rishi Sapra, a former accountant turned Power BI advocate, and David Brown, a seasoned financial modeler with 27 years of experience, excelling in blending Excel with Power BI.

Expect to Learn:

The role of circular references in financial models.
Why named ranges in Excel can either simplify or complicate financial models.
The impact of AI on the future of financial modeling.
How Power BI complements financial modeling by enhancing data visualization and storytelling.
The debate on the most important financial statement and how it informs decision-making.

Here are a few quotes from the episode:

"Dynamic arrays offer huge improvements, and we should aspire to use them more effectively as a community." - Giles Male
"A three-statement model is the universal language of finance, connecting operations and strategy for decision-making." - Carolina Lago
"Power BI complements financial models by adding context, automation, and storytelling, making it a must-learn tool." - Rishi Sapra

This episode of The Great Debate offers a lively exploration of financial modeling. The expert panelists highlight how financial modeling combines art and science, requiring technical mastery, critical thinking, and creativity. The discussions underscored the importance of balancing simplicity with complexity, leveraging technology without losing sight of foundational principles.

Follow Giles:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

Follow Will:

LinkedIn - https://www.linkedin.com/in/will-wardle-3396259/

Follow Carolina:

LinkedIn - https://www.linkedin.com/in/s-carolinalago/

Follow Hedieh :

LinkedIn - https://www.linkedin.com/in/hediehkianyfard/

Follow Oz:

LinkedIn - https://www.linkedin.com/in/ozdata/

Follow Rishi:

LinkedIn - https://www.linkedin.com/in/rsaprano/

Follow David:

Website - https://www.dbrownconsulting.net/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:23] - Introduction to the Panel

[05:51] - Circular References in Models

[10:14] - The Use of VBA

[14:55] - Dynamic Arrays Debate

[19:57] - Named Ranges in Excel

[24:50] - Will Excel Ever Die?

[33:43] - Can AI Build Models?

[37:56] - Should Modelers Learn Power BI?

[53:28] - Most Important Skill for Modelers

[57:40] - Closing Remarks

How to Simplify Data Integration for Finance Teams with Adam Rakich

Tue, 31 Dec 2024 04:00:00 -0600

In this episode, host Paul Barnhurst talks about data integration, focusing on how finance professionals can streamline data processes and optimize workflows. The conversation also explores the balance between spreadsheets and specialized tools in financial modeling. He provides practical guidance for professionals navigating data challenges in the modern financial landscape.

Adam Rakich is an experienced professional in financial planning and analysis (FP&A) software and data integration solutions. With career spanning tools like Adaptive Insights, OneStream, and DataBlend, Adam brings a unique perspective on how accountants and finance teams can leverage technology to overcome data-related inefficiencies.

Expect to Learn:

Why assumptions in financial models can make or break their reliability.
The key factors that determine when to move from spreadsheets to planning tools.
How to make data integration less intimidating for finance professionals.
Practical solutions for accessing data across multiple systems, including API usage and hybrid approaches.
Insights into the evolving role of Excel and Google Sheets in modern financial modeling.

Here are a few quotes from this episode:

“Spreadsheets are not multi-user, and anyone trying to make them that way is spending more time than they should.” - Adam Rakich
“For fractional CFOs, marketplaces like Zero and QuickBooks can be lifesavers with cost-effective integrations.” - Adam Rakich
“Every small automation reduces time and errors, even if the entire process can’t be automated.” - Adam Rakich

Adam Rakich shares the challenges and opportunities in data integration and financial modeling. He offers practical solutions to approach data integration without fear, and the evolving roles of tools like Excel, Google Sheets, and APIs.

Follow Adam:

LinkedIn - https://www.linkedin.com/in/rakich/
Business User’s Guide to Data Integration - https://a.co/d/5xSL3g4

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:30] – Introduction to the Episode

[07:18] – Adam’s Career Journey

[09:38] – Moving Beyond Spreadsheets

[16:56] – Why Data Integration Matters

[21:03] – Common Methods of Accessing Data

[32:35] – SQL vs. Modern Tools

[37:46] – The Business User’s Guide to Data Integration

[44:32] – Rapid-Fire Questions

[52:47] – Closing Thoughts

How Excel Competitions Transform Data Professionals into Experts Using Power Query and VBA

Tue, 24 Dec 2024 04:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst aka The FP&A Guy talks about the electrifying world of Excel Esports at the Financial Modeling World Cup (FMWC) in Las Vegas. This special episode captures the energy and innovation of the event, showcasing interviews with top competitors, including Excel MVPs and data enthusiasts, while exploring how Excel competitions push the boundaries of modeling expertise.

The episode features Josh Aharonoff: Microsoft MVP, "Your CFO Guy," specializing in dynamic financial modeling and consulting. David Fortin: Excel expert, Microsoft MVP, and creator of the World of Warcraft-themed FMWC case study. Jaq Kennedy: UK-based actuarial consultant and Excel enthusiast, sharing personal stories and insights from the event. Amber Johnson: Industrial engineer turned Excel champion, known for her creative modeling approach.

Expect to Learn:

Insights into the competitive world of the Financial Modeling World Cup and the role of Excel Esports.
Unique perspectives on the creative use of Excel, from real-world modeling to themed case studies.
How Excel innovations like Power Query, dynamic arrays, and VBA are transforming data work.
Personal journeys of Excel enthusiasts and their favorite tips and tools.
Why participating in competitions like FMWC can rapidly enhance your financial modeling skills.

Here are a few quotes from this episode:

"I’ve spent 24 years working in Excel, and competing here has tripled my knowledge in just two years." - Jaq Kennedy
"Competing is less about beating others and more about seeing how much you’ve improved." - Amber Johnson
"Creating a case with input from Blizzard Entertainment was surreal—it brought my gaming passion into Excel." - David Fortin

The Financial Modeling World Cup is a celebration of creativity, community, and growth. Events like these provide an experience of learning from the best in the field, or simply embracing the love of Excel.

Follow Josh:

LinkedIn - https://www.linkedin.com/in/joshaharonoff/
Website - https://www.yourcfoguy.com/

Follow David:

LinkedIn - https://www.linkedin.com/in/david-fortin-cpa-816b20b5/
Website - https://linktr.ee/Piggybankaccountant

Follow Jaq:

LinkedIn - https://www.linkedin.com/in/jaqkennedy/

Follow Amber:

LinkedIn - https://www.linkedin.com/in/ambernjohnsonwmu/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:27] - Introduction and Event Overview

[03:39] - Interview with Josh Aharonoff and David Fortin

[10:12] - Horror Stories and Excel Lessons

[12:25] - Excel Preferences

[23:04] - Interview with Jaq Kennedy

[30:14] - Rapid Fire with Jaq

[33:27] - Interview with Amber Johnson

[42:22] - Closing Thoughts and FMWC Invitation

[43:02] - Giles Male's Anthem

Transforming Excel Competitions into Million-Dollar Events with Andrew Grigolyunovich

Fri, 20 Dec 2024 04:00:00 -0600

This episode takes you to the heart of the Financial Modeling World Cup (FMWC) 2024, hosted at the HyperX Gaming Arena in Las Vegas. Known as the "Excel Esports Championship," this unique event blends competitive financial modeling with the energy of live sports entertainment. From electric arenas to engaging case competitions, discover how Excel enthusiasts and world-class modelers push the boundaries of what's possible in financial modeling.

This episode features an exceptional lineup of guests, including Andrew Grigolyunovich, founder of the Financial Modeling World Cup and a pioneer in turning financial modeling into an esport; Michael Jarman, the 2024 FMWC World Champion known for his innovative modeling techniques and leadership at Operis; Giles Male, a commentator and self-proclaimed “Most Humble MVP”. Klinsmann Langhanz, founder of FMWC Brasil and a passionate advocate for Excel training and community-building; and appearances from Danielle Stein Fairhurst and Jaq Kennedy.

Expect to Learn:

How the FMWC is transforming financial modeling into an exciting esport.
Insights from top modelers on preparing for high-pressure competitions.
The role of networking and community in fostering innovation and growth in the Excel world.
Practical advice for improving financial modeling skills through competitions.
Behind-the-scenes from the HyperX Arena, including hilarious moments.

Here are a few quotes from this episode:

"Financial modeling competitions make you better at work and expand your career horizons." - Andrew Grigolyunovich
"The FMWC community is about helping each other, not tearing each other down." - Giles Male
"The unthinkable becomes possible when you network and collaborate." - Klinsmann Langhanz

With the Financial Modeling World Cup 2024, we've seen how Excel has grown from a business tool to the centerpiece of a thriving global community. From the inspiring vision of Andrew Grigolyunovich to the insights of world champion Michael Jarman, this event celebrates the art, science, and camaraderie of financial modeling.

Follow Andrew:

LinkedIn - https://www.linkedin.com/in/andrewgrig/
Company - https://fmworldcup.com/

Follow Michael:

LinkedIn - https://www.linkedin.com/in/michael-jarman-excel/
Email: mjarman@operis.com

Follow Giles:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

Follow Danielle:

LinkedIn - https://www.linkedin.com/in/daniellesteinfairhurst/

Follow Klinsmann:

LinkedIn - https://www.linkedin.com/in/klinsmann-langhanz/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[00:01:42] - Host Paul Barnhurst sets the stage

[00:03:59] - A recap of the event's atmosphere

[00:07:13] - Interview: Andrew Grigolyunovich

[00:12:14] - Vision for the Future of FMWC

[00:22:54] - Creating FMWC Case Studies

[00:34:13] - Michael Jarman's Journey

[00:49:50] - Commentary with Giles Male

[00:56:22] - Jaq Kennedy and Danielle Stein Fairhurst

[00:58:24] - Interview: Klinsmann Langhanz

[01:08:38] - Closing Thoughts

Excel Hacks for Financial Modelers to Simplify Valuations and Save Hours with Charles Keepman

Tue, 10 Dec 2024 04:00:00 -0600

In this episode of Financial Modelers Corner, host Paul Barnhurst (aka The FP&A Guy) welcomes Charles Keepman, a seasoned financial modeler and valuation expert, to discuss the intricacies of financial modeling, best practices, and common pitfalls. They explore real-world scenarios, discuss the value of creating dynamic models, and delve into the art of valuing companies, focusing on how different industries and stages of business impact modeling strategies.

Charles Keepman has spent years honing his skills in financial modeling, starting at Ernst & Young and later working at Economics Partners (now Ryan Valuation). With deep expertise in business valuation, Charles currently applies his modeling skills to help clients make strategic financial decisions. His career trajectory has been shaped by his passion for creating efficient and dynamic financial models that help businesses make informed, data-driven decisions.

Expect to Learn:

Key principles for building auditable, easy-to-follow financial models.
Insights into business valuation: when to use different approaches like DCF, asset, and market-based methods.
The role of qualitative factors in valuation and how they can drastically influence outcomes.
The role of Excel and financial modeling software in today’s fast-paced financial world.
Why simplicity often trumps complexity in financial modeling, and how to strike the right balance.

Here are a few quotes from Charles Keepman:

"I think AI will have a profound effect on financial modeling, but we need to make sure it’s auditable and understandable."
"Financial models are great tools, but the true value lies in understanding the assumptions behind them."
"You can get stuck in analysis paralysis if you overcomplicate your models with too many variables."

From emphasizing the importance of simplicity and clear assumptions to his preference for using tools like XLOOKUP over complex formulas, Charles provides a wealth of practical advice. His perspective on AI in financial modeling highlights the balance between leveraging technology and maintaining human judgment, ensuring that models remain accurate and useful.

Follow Charles:

LinkedIn - https://www.linkedin.com/in/charles-keepman-58766a40/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:24] - Introduction to Charles Keepman

[02:03] - The "Worst Financial Model" Horror Story

[05:57] - A Rundown of Charles’ Career

[09:04] - The Favorite Part of Financial Modeling

[14:53] - The Most Unique Uses of Excel in Personal Life

[17:26] - Valuing a Company: The First Steps

[21:43] - The Most Unique Business Models

[23:41] - Excel vs. Deal Work

[27:03] - The Simplicity vs. Complexity Debate

[32:49] - Excel's Evolution: Favorite Features

[36:20] - Rapid Fire Segment

[45:27] - Final Advice and Closing

The Great Debate on AI, Excel, and the Future of Financial Modeling

Tue, 03 Dec 2024 04:00:00 -0600

In this special debate episode, host Paul Barnhurst aka The FP&A Guy is joined by an all-star panel of modeling experts to tackle some of the most contentious questions in the financial modeling world. This lively discussion promises insights, entertainment, and plenty of surprises as the panelists bring their expertise and humor to the table. Together, they bring decades of experience, fresh perspectives, and a shared passion for the art and science of financial modeling.

The powerhouse panel of financial modeling experts include: Derek Baker, FP&A professional and co-founder of the FP&A Hub; Lance Rubin, CEO of Model Citizen and Chief Excel Officer at Excel Cloud; Diarmuid "Dim" Early, founder of Early Days Consulting; Craig Hatmaker, retired founder of Beyond Excel and advocate for modern modeling techniques; Dr. David Brown, finance professor at the University of Arizona and founder of the Microsoft Excel Collegiate Challenge; Danielle Stein Fairhurst, Sydney-based financial modeling trainer, author, and Microsoft MVP; Ian Bennett, leader of PwC's global financial modeling practice and Master Financial Modeler; and Craig Thompson, former investment banker now innovating in software at Aleph.

Expect to Learn:

Why financial models are (or aren’t) the ultimate decision-making tool for businesses.
The role of Excel in the future: is it here to stay, or will it be replaced by emerging technologies?
Power BI, Power Query, and Python in financial modeling—are they worth learning?
Controversial techniques: the debate on circular references and dynamic arrays.
Whether AI will eventually replace human modelers—and how soon.

Here are a few quotes from the episode:

"Excel’s modern tools, like Power Query and lambdas, are setting the stage for AI to change how we build models." - Lance Rubin
"AI can process data, but it lacks the creativity and business acumen needed for financial modeling." - Danielle Stein Fairhurst
"Excel is the foundation of the financial system, and its adaptability ensures it will last for years to come." - Dr. David Brown

From the future of Excel to the role of AI, the importance of financial statements, and the tools that modelers should master, this episode explored the evolving landscape of financial modeling.

Follow Derek:

LinkedIn - https://www.linkedin.com/in/derek-d-baker/

Follow Lance:

LinkedIn - https://www.linkedin.com/in/financial-modelling/

Follow Diarmuid:

LinkedIn - https://www.linkedin.com/in/diarmuidearly/

Follow Craig H:

LinkedIn - https://www.linkedin.com/in/craig-hatmaker-4449879/

Follow David:

Website - https://www.davidclaytonbrown.com/

Follow Danielle:

LinkedIn - https://www.linkedin.com/in/daniellesteinfairhurst/

Follow Ian:

LinkedIn - https://www.linkedin.com/in/ianrbennett/

Follow Craig T:

LinkedIn - https://www.linkedin.com/in/cfthompson/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:42] - Introduction to the Episode

[04:16] - The Debate Battle Starts

[07:12] - Should Financial Modelers Learn Python?

[11:15] - Dynamic Arrays vs. Traditional Models

[16:52] - Will Excel Ever Die?

[20:55] - Should Financial Modelers Learn Power BI?

[26:21] - Will AI Build Financial Models?

[32:09] - Circular References: Useful or Evil?

[39:27] - VBA in Financial Models

[44:41] - Number One Corporate Decision Making Tool

[52:58] - Which Financial Statement is Most Important?

[59:50] - Conclusion and Audience Poll

How Aligning Strategy with Modeling Transforms Corporate Deals with Sean Corcoran

Tue, 26 Nov 2024 04:00:00 -0600

In this episode of Financial Modelers Corner, Paul Barnhurst aka The FP&A Guy dives deep into the intersection of corporate development and financial modeling, focusing on mergers and acquisitions (M&A). Sean Corcoran, a seasoned expert with over 20 years in corporate development, shares his insights on navigating complex transactions, building effective financial models, and driving strategic growth through acquisitions.

Sean Corcoran is the Head of Corporate Development at DigiCert and has an illustrious career spanning Fortune 50 companies, private equity-backed ventures, and public firms. With experience leading over 60 acquisitions worth billions, Sean has a comprehensive understanding of the M&A lifecycle, strategic planning, and financial modeling.

Expect to Learn

Why simplicity and strategy are vital in corporate development financial models.
Common pitfalls in financial models and how to avoid them.
The importance of aligning strategic intent and integration during acquisitions.
How FP&A professionals can transition into corporate development roles.
The evolving tools and techniques in M&A due diligence and decision-making.

Here are a few quotes from Sean Corcoran:

"Culture is one of the key criteria for successful acquisitions; the only way to assess it is to spend time with the prospective target."
"A strategic partnership often evolves into an acquisition when both sides see value and alignment."
"From a corporate development perspective, simplicity is king when building financial models."
"AI is starting to play a role in M&A, especially in reviewing contracts and highlighting potential red flags."

From understanding the nuances of culture in acquisitions to navigating the challenges of carve-outs and earnouts, this episode offers an insightful conversation that highlights the complexity and opportunity within corporate development and the critical role of financial modeling.

Follow Sean:

LinkedIn - https://www.linkedin.com/in/sean--corcoran/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:19] - Introduction to the Episode and Guest

[05:37] - Sean’s Background and Career Journey

[08:09] - Key Lessons from M&A Experience

[12:43] - Responsibilities in Corporate Development

[17:10] - Favorite Deals and Lessons Learned

[21:37] - Building Effective Financial Models

[30:11] - Ensuring Alignment in Financial Modeling

[34:36] - Lessons from a Career in Corporate Development

[37:39] - Rapid-Fire Questions

[42:59] - Closing and Networking

Excel Problem-Solving Strategies for Financial Modelers to Build Robust Models with Liam Bastick

Tue, 19 Nov 2024 04:00:00 -0600

In this engaging episode of Financial Modelers Corner, host Paul Barnhurst, aka "The FP&A Guy," sits down with Liam Bastick, Managing Director of Sum Product and a highly respected figure in financial modeling and Excel expertise. Known for his complex modeling work, quirky sense of humor, and love for a good challenge, Liam shares insights into the nuances of financial modeling, discusses his favorite Excel tips, and reveals his fascination with the evolving role of AI in modeling.

Liam Bastick is a seasoned corporate trainer, author, and financial modeling expert, with a focus on Excel, Power BI, and AI applications. With a career that includes awards like Microsoft’s Most Valuable Professional and the inaugural Lifetime Achievement, international recognition, and extensive teaching, Liam provides listeners with both practical advice and fascinating anecdotes from his career.

Expect to Learn:

Excel optimization tips and learn how to effectively use Quick Access toolbar
Circular references and financial modeling horror story insights
Challenges and advantages of modeling in Power BI
How AI is changing financial modeling and what the future might hold
Liam’s approach to problem solving to stay at the forefront of innovation

Here are a few quotes from Liam Bastick:

“The best tip I can give is to put the tools you use most often on the Quick Access toolbar. It’s underused but incredibly helpful.”
“If you've got circular references in your model, you’re already on thin ice. They can lead to wrong answers and complete chaos.”
“With AI, you can do the front-end and back-end work in financial modeling, but it’s still not there yet for the mechanics in the middle.”

In this insightful episode, Liam Bastick shared his passion for financial modeling, bringing both humor and depth to complex topics in Excel, Power BI, and AI. His reflections on adaptability, continuous learning, and challenging the limits of traditional tools serve as powerful reminders for anyone in finance or data analysis.

Follow Liam:

Website - https://www.sumproduct.com/
LinkedIn - https://www.linkedin.com/in/liam-bastick-73a39114/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:52] – Introduction to guest Liam Bastick

[03:44] – Liam’s Modeling Horror Stories

[08:32] – Liam’s Professional Journey and Challenges

[14:17] – Running a Business and Reinvention

[16:05] – Discussing AI’s Impact on Financial Modeling

[20:39] – Books and Teaching Tips

[35:50] – Rapid Fire: Excel Best Practices

[46:57] – Advanced Modeling Techniques and Final Tips

[54:16] – Contact Information and Wrap Up

Why Skills & Storytelling Matter More Than Degrees in Financial Modeling – Rachit Jain

Tue, 12 Nov 2024 04:00:00 -0600

In this insightful episode of Financial Modelers Corner, host Paul Barnhurst (aka The FP&A Guy) welcomes financial modeling expert Rachit Jain. They delve into the nuances of financial modeling, exploring the art of building accurate, reliable models and the importance of critical thinking and lifelong learning in finance. Rachit shares real-world horror stories from his early career, reflects on the challenges of predictive modeling, and emphasizes the human elements that make models truly effective.

Rachit Jain is a seasoned financial modeler with extensive experience in finance, auditing, and quantitative modeling. Having worked with firms like Hewlett Packard and Deloitte, Rachit brings a wealth of knowledge on creating models that inform decision-making and avoid critical pitfalls. His expertise spans FP&A, data science, and quantitative finance, making him an authority on building dynamic, real-world financial models.

Expect to Learn:

How to build trust in financial models through transparency and sound design
Why critical thinking and communication skills are crucial in financial modeling
Rachit’s career journey and his transition from audit to financial modeling
The role of data science in enhancing financial modeling capabilities
Strategies for applying financial modeling in personal decision-making

Here are a few quotes from Rachit Jain:

"The first step in financial modeling is critical thinking – you need to know what you want to achieve before you start building."
"In financial modeling, curiosity is everything. It’s what drives you to improve and learn beyond the basics."
"Before starting in financial modeling, understand what part of FP&A suits your skills. Not everyone is a ‘numbers person,’ and that’s okay."

In this episode, Rachit Jain highlights financial modeling as both an art and science, emphasizing the importance of accuracy, clarity, and storytelling. Rachit’s approach shows that great financial modeling goes beyond numbers; it requires curiosity, critical thinking, and a balance between simplicity and sophistication.

Follow Rachit:

LinkedIn - https://www.linkedin.com/in/jainrachit1008/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:15] - Introduction to the Episode and Guest

[05:26] - Rachit’s Background and Career Path

[09:00] - Advice for Transitioning to Financial Modeling

[11:01] - Lifelong Learning in Finance

[13:17] - Financial Modeling as a Way of Thinking

[18:15] - Unique Applications of Financial Modeling

[22:23] - Building Models for Decision Making Process

[26:57] - The Intersection of Data Science and Financial Modeling

[33:40] - Rapid-Fire Financial Modeling Preferences

[38:53] - Closing Advice and Wrap Up

Fractional CFO Insights on Financial Modeling and Business Turnaround with Carl Seidman

Tue, 05 Nov 2024 05:00:00 -0600

In this episode, Paul Barnhurst, host of Financial Modeler’s Corner, is joined by Carl Seidman, an experienced financial consultant and financial modeling expert. Together, they explore the intricacies of financial modeling, discuss the art and strategy of dynamic cash flow modeling, and touch on the unique challenges and lessons Carl has gathered from his years in turnaround consulting. They also discuss the broader skills and mindset shifts required for modelers who aim to excel in the complex field of financial analysis and corporate finance.

Carl Seidman is the founder of Seidman Financial and a recognized expert in financial planning, forecasting, and modeling. With experience in turnaround consulting and as a fractional CFO, Carl has worked extensively with underperforming companies and complex restructuring cases. He brings an in-depth understanding of the strategic nuances in financial modeling and cash flow management, which he shares in this episode.

Key takeaways from this week's episode include:

The importance of long-term, flexible thinking in financial modeling and planning.
Carl’s top lesson learned from a modeling “horror story” and how it shaped his approach to dynamic modeling.
How dynamic arrays are transforming cash flow modeling and how to implement them.
Why operational knowledge is crucial for effective financial modeling in turnaround situations.
The value of networking and formal certifications in restructuring and financial advisory roles.

Here are a few quotes from Carl Seidman:

"Financial modeling in complex situations is about facilitating discussions, not just presenting numbers."
"A good model tells you the ‘what,’ but the analysis and conversations that follow tell you the ‘so what’ and ‘now what.’"
"It's important to know when to push the boundaries of what a model can do and when to keep things simple."

In this insightful episode, Carl Seidman leaves listeners with practical advice and a fresh perspective on financial modeling’s role in modern business. He highlights the value of flexibility, clear communication, and a long-term mindset, particularly in the complex terrain of turnaround consulting.

Follow Carl:

Website - https://seidmanfinancial.com/
LinkedIn - http://linkedin.com/in/carlseidman

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:12] – Introduction to the episode and guest

[05:44] – Key Lessons in Modeling and Long-Term Strategy

[10:36] – From PwC to Turnaround Consulting

[16:02] – Certified Insolvency and Restructuring Advisor (CIRA)

[20:20] – Diagnosing Cash Flow Issues in Underperforming Companies

[28:52] – Embracing Dynamic Arrays for Efficient Cash Flow Modeling

[32:40] – Modeling Mindset: Curiosity and Continuous Improvement

[37:57] – Rapid-Fire Q&A: Financial Modeling Preferences

[41:59] – Advice for Aspiring Modelers: Practice and Experiment

[43:30] – Closing Remarks and Where to Connect

The Secrets to Automating Data Integration and Reporting in Excel With Mark Proctor

Tue, 29 Oct 2024 05:00:00 -0600

In this episode of Financial Modelers Corner, host Paul Barnhurst (aka The FP&A Guy) is joined by guest Mark Proctor. Together, they delve into the intricacies of financial modeling and data analysis, with a focus on building efficient models and leveraging automation in Excel. Mark shares his deep expertise on why structure is key, how to automate tedious tasks, and how Excel continues to evolve to meet the demands of modern financial professionals.

Mark Proctor is a seasoned financial professional with a background in accounting and finance, an Excel MVP, and the founder of Excel Off the Grid, a platform dedicated to improving efficiency and effectiveness in Excel. With decades of experience, Mark's insights are invaluable for anyone looking to optimize their use of Excel for financial modeling and beyond. He has helped countless professionals streamline their work through better data structure and automation techniques.

Key takeaways from this week's episode include:

Key differences between financial modeling and data analysis
Importance of automation in Excel and how tools like Power Query and Power Pivot can drastically improve efficiency.
Why traditional tools like Vlookup aren’t ideal for modern data analysis and what functions you should be using instead.
How to approach building models that are flexible and easy to use, even when multiple stakeholders are involved.
Practical strategies for reducing manual processes and eliminating the need for repetitive tasks in Excel.

Here are a few quotes from Mark Proctor:

"Hard coding is the enemy of a flexible financial model. Once you start hard coding, you lose the ability to see what's really driving the model."
"One of the key takeaways from bad models is that manual adjustments should always be documented and trackable."
"Automation should be about freeing up your time to focus on high-value tasks, not just about making things faster."

As Excel continues to evolve with powerful features like dynamic arrays and advanced automation, the tools discussed in this episode are essential for anyone looking to keep pace with the future of financial modeling. Mark’s emphasis on mastering the basics and thinking structurally will help you work faster and more effectively.

Follow Mark:

Website - https://exceloffthegrid.com/
LinkedIn - https://www.linkedin.com/in/markstephenproctor/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:54] - Financial Modeling Horror Stories

[04:55] - Lessons from Bad Models

[06:28] - Mark's Career Journey and Background

[12:59] - Data Analysis vs. Financial Modeling

[19:17] - Excel as a Data Analysis Tool: Key Innovations

[22:55] - Automation in Excel and Practical Tips

[33:59] - The Importance of Mastering Excel Basics

[44:19] - Wrap-Up and Closing Remarks

Next-Level Financial Modeling with AI and Automation for CFOs with Chase Wright

Tue, 22 Oct 2024 05:00:00 -0600

In this episode of Financial Modeler’s Corner, host Paul Barnhurst dives into the evolution of financial modeling with guest Chase Wright. The discussion focuses on modern financial modeling tools and workflows, particularly a new spreadsheet tool called Equals, and how it compares to Excel and Google Sheets. Wright shares his journey from a finance background to working at startups, where he developed innovative methods to streamline financial operations using cutting-edge tools.

Chase Wright is a seasoned finance executive with a decade of experience across startups and tech companies like GitLab, Instabug, and Red Hat. Currently the Head of Finance and Data at Uniqode, Chase has a unique blend of corporate finance, data science, and business management expertise. He’s also an advisor to Cacheflow and a limited partner at FOG Ventures. With an engineering background and deep experience in finance, Chase brings a fresh perspective on the challenges and innovations in financial modeling.

Key takeaways from this week's episode include:

How Chase Wright’s career journey led him to innovate in financial modeling
The role of modern spreadsheet tools like Equals in finance and data teams
How to use tools like Equals to automate reporting and financial analysis
The importance of balancing curiosity and necessity when developing career skills
The pros and cons of traditional modeling tools like Excel and Google Sheets versus newer alternatives

Here are a few quotes from Chase Wright:

“Equals is a modern spreadsheet for data and finance teams, connecting directly to your data sources.” - Chase Wright
“Financial models are incredibly helpful, but at the end of the day, it's the intuition behind the model that really matters.” - Chase Wright
“Slack integration in Equals makes communicating insights across the company incredibly simple.” - Chase Wright
“AI in Equals acts as a copilot, making things like summing columns or adding borders incredibly intuitive.” - Chase Wright

In this episode, Chase Wright shares his journey from struggling with complex models in Excel to embracing the automation and connectivity that Equals offers highlights the growing need for more intuitive and efficient financial tools. He emphasizes that the right tools, combined with critical thinking, can not only improve workflows but also provide deeper insights that drive business success.

Follow Chase:

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:45] – Introduction to Chase Wright and his journey

[02:54] – The nightmare of VBA models and lessons

[04:24] – Educational Path: Finance to Engineering

[07:01] – Equals: The modern spreadsheet tool

[15:13] – How Equals Simplifies Data Integration

[20:02] – Financial modeling: Critical Thinking in Action

[31:03] – Rapid Fire Segment: Excel and Equals

[39:37] – Conclusion and Final Thoughts

A Ground Breaking AI Generated Podcast on Financial Modeling with Paul Barnhurst

Tue, 15 Oct 2024 05:00:00 -0600

In this innovative episode, Paul Barnhurst experiments with Google’s AI tool, Notebook LM, and transforms previous guest interviews into an AI-generated episode. He explores the insights and best practices in financial modeling, as shared by veterans Scott Rostan, founder of Training the Street, and Ian Bennett, a PwC Australia leader with extensive experience in managing large modeling teams.

By leveraging AI, this episode explores how technology can recreate meaningful conversations with industry leaders, providing an interactive look at best practices, common pitfalls, and the evolving landscape of financial modeling. Paul explores advanced technical skills and the human elements that are essential to successful financial modeling.

Key takeaways from this week's episode include:

Four essential key pillars for excelling in financial modeling
Strategies for maintaining simplicity and auditability in financial models
Emerging tools in Excel and functionality of traditional financial modeling
How financial modeling expertise goes beyond technical skills
Insights on the potential future of financial modeling with AI advancements

Quotes from the Episode:

"Even in the world of complex finance, sometimes the simplest approach is the best approach." - Scott Rostan
"It’s about seeing the big picture, understanding your client’s needs and using your modeling skills to craft a solution, not just a spreadsheet." - Ian Bennett
"AI will get really good at those technical tasks, cleaning up data, maybe running some basic forecasts, but that just frees us humans up to focus on the stuff that requires creativity, critical thinking, and emotional intelligence." - AI

In this special AI-driven episode, Paul Barnhurst invites listeners to consider how the field of financial modeling is both grounded in foundational skills and evolving with new technologies. It’s about connecting with clients, asking the right questions, and using your skills to drive better business decisions.

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:17] Introduction to the episode

[03:57] Lessons from modeling mistakes

[06:29] Four key pillars of financial modeling

[08:51] Managing large-scale models

[13:40] Excel’s power stack and future enhancements

[15:14] Modeling standards and best practices

[19:38] Excel’s longevity and AI’s role

[22:44] The World of fractional FP&A

[27:38] AI’s place in financial modeling

[33:16] Wrap-up and invitation for feedback

How to Build Superior Financial Models for M&A With Patrick McMillan

Tue, 08 Oct 2024 05:00:00 -0600

In this episode of Financial Modelers Corner, host Paul Barnhurst dives deep into the world of Quality of Earnings (QofE) with expert guest Patrick McMillan, a seasoned CFO and transaction advisor. The conversation explores the intricacies of QofE, its importance in financial transactions, and the role it plays in assessing a company's financial health during mergers and acquisitions. Patrick shares real-world examples and insights into how financial professionals can use QofE to make informed decisions.

Patrick McMillan is a fractional CFO and transaction advisor at Amplēo, a Utah-based firm specializing in providing executive support to growing companies. With over two decades of experience in guiding businesses through periods of growth and M&A transactions, Patrick is known for his expertise in Quality of Earnings analysis. He brings a dynamic and passionate approach to finance, blending technical skill with strong storytelling abilities to help businesses navigate complex financial landscapes.

Key takeaways from this week's episode include:

The role of Quality of Earnings (QofE) in mergers and acquisitions, and how it differs from an audit.
How to differentiate between non-recurring and operating items when analyzing financial statements.
The importance of normalizing earnings for better understanding of a company’s performance.
Why soft skills like communication and storytelling are crucial in financial analysis.
Insights into how personal finance modeling can improve your financial modeling skills.

Here are a few quotes from Patrick McMillan:

"Quality of earnings isn't just an audit; it shows you how and why a company is performing in a certain way." - Patrick McMillan
"Understanding non-operating and non-recurring items is crucial to a quality of earnings report." - Patrick McMillan
"Patience is the most important lesson I’ve learned in my career, especially in communication." - Patrick McMillan
"Modeling your own personal finances is a great way to practice financial modeling skills." - Patrick McMillan

With actionable advice on financial modeling, transaction strategies, and lessons learned from his personal experiences, Patrick’s insights will resonate with professionals looking to sharpen their financial skills and improve decision-making in dynamic business environments.

Follow Patrick:

Website - https://ampleo.com/contact/
LinkedIn - https://www.linkedin.com/in/patrickmcmillan/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:10] - Introduction to Patrick McMillan

[04:25] - Worst Financial Model Story

[07:30] - Quality of Earnings vs. Audits

[09:30] - Identifying Non-Recurring vs. Operating Items

[13:31] - Patrick’s Journey to Becoming the "QofE Guy"

[17:57] - The technical understanding of QofE

[24:51] - Patrick’s decision for MBA

[29:56] - Importance of soft skills in QofE

[35:20] - Rapid-Fire Financial Modeling Tips

[38:44] - Personal Insights: Mountain Biking and Life Lessons

The Future of Financial Modeling with AI Usability and Best Practices featuring Ruby Liu

Tue, 01 Oct 2024 05:00:00 -0600

In this episode of Financial Modelers Corner, host Paul Barnhurst welcomes Ruby Liu, Director at KPMG Australia’s Valuation Team, to dive into intricacies of financial modeling. Having led KPMG Australia’s Sydney modeling team and worked as the head of corporate finance in the energy sector, Ruby’s vast experience spans from transactional modeling for infrastructure assets to advising clients on valuation and capital raising. Ruby Liu brings over 16 years of professional expertise in corporate finance, financial modeling, and valuations.

This episode offers practical insights on managing complex financial models, optimizing processes, and the challenges of transitioning models from transactional to operational use. Ruby’s guidance provides a valuable learning opportunity on how to build efficient and user-friendly financial models. Her deep knowledge and hands-on experience make her a key voice in the field of financial modeling.

Key takeaways from this week's episode include:

The key differences between transactional and operational models and how to adapt them for long-term use.
Why keeping the model user in mind is crucial for building effective financial models.
Ruby’s top strategies for creating models that are simple, visually appealing, and efficient in calculation speed.
Insights into the challenges of working with large, complex models and how to manage issues.
How Ruby’s experiences at KPMG shaped her understanding of the financial modeling landscape.

Here are a few quotes from Ruby Liu:

"The most efficient model isn’t the one with the most complex formulas, but the one that’s easy to understand and use." - Ruby Liu
"In financial modeling, the goal is to fit the user’s purpose, not dazzle them with complexity." - Ruby Liu
"I think AI can help build models, but we’ll still need human oversight to interpret the results." - Ruby Liu

In this insightful episode, Ruby Liu offers a masterclass in financial modeling. From her candid reflections on the pitfalls of overly complex models to the importance of keeping the end user in mind, Ruby’s practical advice is invaluable for both novice and seasoned modelers alike.

Follow Ruby Liu:

LinkedIn - https://www.linkedin.com/in/liuruby

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:13] - Introduction to the episode and guest

[03:01] - Worst financial model and lessons learned

[08:28] - Ruby reflects on her evolving perspective on the industry

[12:47] - Ruby’s leadership experience at KPMG’s Sydney team

[16:47] - Insights into Ruby’s current role in valuations

[22:14] - Different valuation methods; income and market approaches

[25:57] - Converting transactional models into operational ones

[41:16] - Rapid fire questions segment with Ruby

[47:49] - Advice for modelers and contact information

VBA, AI, and Excel - Paul Barnhurst’s Key Takeaways from 40 Episodes

Tue, 24 Sep 2024 05:00:00 -0600

In this special solo episode, host Paul Barnhurst, also known as "The FP&A Guy," reflects on key insights gathered from past episodes of Financial Modeler’s Corner. With over 40 episodes under his belt, Paul dives into recurring rapid-fire questions posed to expert financial modelers worldwide. From circular references to VBA use and Excel's future, this episode offers valuable wisdom on the art and science of financial modeling.

Paul Barnhurst, an accomplished financial modeling professional and host of the podcast, takes center stage. Paul is the founder of “The FP&A Guy” and has earned the prestigious Advanced Financial Modeler (AFM) certification from the Financial Modeling Institute (FMI). His wealth of experience and insights makes this solo episode both engaging and informative.

Key takeaways from this week's episode include:

The most common preferences of expert financial modelers on key technical decisions.
Why dynamic arrays and other Excel functions are becoming increasingly important, and the pace of their adoption.
Insights into how artificial intelligence (AI) could impact financial modeling and whether it will replace human modelers.
The importance of good design principles in financial models, as shared by leading financial modeling experts.
Fun and practical Excel shortcuts used by seasoned modelers to boost efficiency and accuracy.

Here are a few quotes from Paul in this episode:

"Circular references are dangerous because most people don’t really understand what’s going on, and it can lead to other errors in your model." - Paul Barnhurst
"If at all possible, don’t use VBA in your model. The less you use it, the simpler the model is." - Paul Barnhurst
"I’m of the belief that AI will build models for us. It’s a question of when, not if." - Paul Barnhurst

In this special solo episode, Paul Barnhurst takes a moment to reflect on the lessons learned from over 40 episodes of Financial Modeler’s Corner. He shares key takeaways from the rapid-fire questions posed to some of the top financial modelers in the world, offering a wealth of advice on best practices, common pitfalls, and emerging trends in financial modeling. As always, he invites listeners to reach out with feedback, questions, and guest suggestions, reinforcing the show's commitment to fostering a global community of financial modeling enthusiasts.

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:09] - Introduction and background

[03:18] - Circular references in models

[04:55] - VBA in financial models

[06:45] - Dynamic arrays: the future of excel?

[16:50] - Will excel ever die?

[18:16] - AI and financial modeling

[20:31] - Financial models as corporate decision-making tools

[22:26] - Favorite excel shortcuts from top financial modelers

[30:34] - Closing thoughts and invitation to audience

The Power of Data Automation in Financial Models and Tools for Corporate Success with Paul Medici

Tue, 17 Sep 2024 05:00:00 -0600

In this episode of Financial Modelers Corner, host Paul Barnhurst welcomes Paul Medici, founder and CEO of Medici Financial Modeling. They dive into the art and science of financial modeling, sharing horror stories, insights, and practical tips on how to avoid common pitfalls. The discussion revolves around the importance of simplicity and structure, and how mastering the fundamentals can save time and deliver better results.

Today’s guest is Paul Medici, the Founder and CEO of Medici Financial Modeling. With over a decade of experience, Paul specializes in building bespoke financial models and custom data automation tools for corporate clients across the US, Canada, and Europe. His expertise spans a wide range of industries, including financial services, healthcare, manufacturing, mining, real estate, retail, technology, and even charitable organizations. He holds an MBA from the University of Toronto and a Master’s in Geological Science and Engineering from Queen’s University.

Key takeaways from this week's episode include:

The most common mistakes in bad financial models and how to avoid them.
How a background in geology led Paul Medici to a career in financial modeling.
The importance of understanding revenue and cost build-ups in different industries.
Why practicing financial modeling on personal projects can enhance your skills.
Key shortcuts and techniques to speed up your Excel modeling process.

Here are a few quotes from Paul Medici:

"All bad models have one thing in common: they're not user-friendly, difficult to update, and time-consuming." - Paul Medici
"Most corporate models start simple but turn into 'Frankenstein' models over time as people add complexity." - Paul Medici
"If you're thinking about financial modeling, practice by building models for everyday tasks like personal budgets." - Paul Medici
"The key to mastering financial modeling is understanding how the financial statements and supporting schedules link together." - Paul Medici

From his early career in geology to teaching advanced Excel at top investment banks, Paul brings a wealth of knowledge to the conversation. He emphasizes the importance of building user-friendly models, practicing regularly, and finding the right balance between complexity and functionality.

Follow Paul Medici:

Website - https://medicifinancialmodeling.com/
LinkedIn - https://www.linkedin.com/in/paulmedici/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
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Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:27] - Introduction to the episode and guest

[03:15] - The worst financial model story and lessons learned.

[07:17] - Career transition from Geology to Finance

[12:40] - Challenges in modeling different industries

[19:22] - Favorite industries and financial models

[22:17] - Bespoke data automation tools

[25:47] - Teaching Excel and financial modeling courses

[34:29] - Advice for FMI Certification

[39:03] - Rapid fire: financial modeling preferences

[44:13] - Final advice and contact information

Quantrix Approach to Simplify Complex Financial Problems with Gilbert Hangartner

Tue, 10 Sep 2024 05:00:00 -0600

In this episode of the "Financial Modelers Corner," host Paul Barnhurst welcomes Gilbert Hangartner, a financial modeler with a background in science. The discussion delves into the intricacies of financial modeling, the importance of simplicity in model construction, and the application of Monte Carlo simulations to understand risk. Gilbert shares his insights on how to approach financial modeling by asking the right questions rather than having complex formulas.

Gilbert Hangartner is a seasoned financial modeler who transitioned from a career in science, specializing in chemistry and physics, to financial modeling and risk analysis. His scientific training gives him a unique perspective on financial modeling, treating it as both a creative process and a technical discipline. Gilbert emphasizes the importance of simplicity and clarity in building effective models and is an advocate for using models as tools for communication and strategic decision-making.

Key takeaways from this week's episode include:

Understanding the importance of simplicity in modeling
The debate on whether financial modeling is more of an art or a science
Simplifying a problem and understanding the question before diving into model building.
Introduction to Monte Carlo simulations for risk management
A discussion on the limitations of Excel and future of financial modeling

Here are a few quotes from Gilbert Hangartner:

"A good model is not about complexity; it's about clarity and answering the right question." - Gilbert Hangartner
"For me, modeling is a creative act, much like writing a song or painting a picture." - Gilbert Hangartner
"Multi-dimensional modeling is key; real-world problems are never just two-dimensional." - Gilbert Hangartner
"The future of financial modeling lies beyond Excel; it’s time for more advanced, structured tools." - Gilbert Hangartner

In this episode, Gilbert Hangartner offers a fresh perspective on the world of financial modeling and challenges the conventional wisdom that financial models must be complex to be effective. Whether you're a seasoned modeler or just starting out, Gilbert's insights on Monte Carlo simulations provide valuable guidance on how to enhance your modeling skills and approach.

Follow Gilbert:

LinkedIn - https://www.linkedin.com/in/gilbert-hangartner-71754047/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
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Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:16] - Introduction to the episode and the guest, Gilbert Hangartner

[01:57] - The worst financial model horror story shared by Gilbert

[04:42] - Discussion on the importance of simplicity in financial modeling

[06:10] - Gilbert explains his transition from science to financial modeling

[10:11] - Art or Science? The nature of financial modeling

[13:45] - Strategies for asking the right questions when building a model

[17:16] - An overview of Monte Carlo simulations for risk modeling

[28:31] - The advantages of Quantrix over Excel

[44:47] - A contrarian view on the future of Excel in financial modeling

[47:48] - Closing Remarks and Contact Information

Discover the Power of Simplicity in Financial Modeling With Giles Male

Tue, 03 Sep 2024 05:00:00 -0600

In this episode of Financial Modelers Corner, host Paul Barnhurst is joined by Giles Male, who brings his unique perspective on the rapidly changing landscape of financial modeling. Together, they explore how the latest advancements in Excel—such as dynamic arrays and Lambda functions—are revolutionizing the way financial models are built and used. Giles also provides invaluable advice on the importance of simplicity, adaptability, and effective communication in modeling.

Giles Male is a CMA-qualified accountant and a seasoned financial modeler with extensive experience in bid analysis and complex financial modeling. As a co-founder of Full Stack Modeler, Giles is passionate about training and mentoring the next generation of financial modelers. He holds the prestigious Master Financial Modeler (MFM) accreditation from the Financial Modeling Institute, making him one of only seven individuals worldwide to have achieved this honor. Giles brings a wealth of knowledge on modern Excel and its application in financial modeling.

Key takeaways from this week's episode include:

The importance of embracing modern Excel techniques, including dynamic arrays and Lambda functions.
Insights into the changing landscape of financial modeling and why simplicity is often more effective than complexity.
The challenges and rewards of transitioning from traditional modeling methods to modern approaches.
How Giles's experiences in ultra-marathon running have influenced his approach to problem-solving and pushing beyond perceived limits in both personal and professional contexts.
Practical advice on maintaining model integrity, including the use of structured standards like FAST or SMART while adapting to specific project needs.

Here are a few quotes from Giles Male:

"Simplicity is the biggest lesson I’ve learned in my career. Complex models might seem impressive, but they’re often impractical." - Giles Male
"A good financial model should be as complex as it needs to be, but as simple as possible." - Giles Male
"There’s a visibility fog when reviewing your own models. Stepping away and coming back later is essential." - Giles Male

In this episode, Giles Male offers a wealth of insights into the evolving world of financial modeling. He emphasizes the importance of simplicity, the transformative power of modern Excel, and the critical need for clear communication in model design. As the industry continues to evolve, Giles’s focus on adaptability, continuous learning, and user-centric design serves as a guide for both seasoned professionals and newcomers alike.

Follow Giles:

Website - https://www.fullstackmodeller.com/
LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
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Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:18] - Introduction to the topic and guest Giles Male

[05:31] - Lessons from complex models

[07:12] - Giles shares his career journey into financial modeling

[16:10] - Achieving master financial modeler accreditation

[17:19] - Giles shares practical project insights

[28:42] - Defining advanced modeling skills

[34:00] - The future of excel and financial modeling

[41:50] - Excel shortcuts and best practices

[47:47] - Conclusion and contact information

Continuous Planning vs. Annual Budgets | Randy Brown’s Game-Changing FP&A Insights

Tue, 27 Aug 2024 05:00:00 -0600

In this episode of Financial Modelers Corner, Paul Barnhurst dives into the intricacies of financial modeling, focusing on cash flow forecasting and continuous planning with FP&A expert Randy Brown. Randy shares his unique journey from music school to becoming a financial consultant and emphasizes the importance of practical financial strategies, especially in volatile markets.

Randy Brown is a seasoned financial consultant with a rich background in FP&A, corporate finance, and financial modeling. After initially pursuing a career in music, Randy transitioned into finance, where he has built a successful career, particularly in cash flow management and continuous planning. His approach blends technical financial skills with real-world business acumen, making him a sought-after consultant in the industry.

Key takeaways from this week's episode include:

The critical importance of cash flow forecasting for business stability.
Practical steps to build a 13-week cash flow forecast.
Why continuous planning is more effective than traditional annual budgeting.
Common pitfalls in financial modeling, including the dangers of circular references and external workbook links.
Randy’s insights on managing finances for small to medium-sized businesses, especially in distressed situations.

Here are a few quotes from Randy Brown:

"The minute you create a budget, it’s meaningless. The business environment changes too fast for a static plan." - Randy Brown
"For cash flow forecasting, it’s all about identifying your sources and uses of cash and laying them out on a calendar." - Randy Brown
"The flexibility of working from home and being my own boss was the number one driver for becoming an independent consultant." - Randy Brown
"Learn relational data structures; understanding how data relates will improve every analytical task you do." - Randy Brown

In this insightful episode, Randy Brown shared his wealth of knowledge on financial modeling, continuous planning, and the critical importance of cash flow forecasting. His emphasis on the importance of relationships, the simplicity of effective cash forecasting, and the pitfalls of traditional budgeting methods offers a fresh perspective for financial professionals striving to improve their modeling practices.

Follow Randy:

Website - https://www.instagram.com/randy_brown/
LinkedIn - https://www.linkedin.com/in/randyjbrown/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
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Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:28] - Introduction to the episode and guest Randy Brown

[07:27] - Insights into Randy’s background and career journey

[13:17] - Continuous planning vs. annual budgeting

[20:36] - The benefits of fractional consulting

[23:37] - The Importance of cash flow forecasting

[28:01] - Building a 13-Week Cash Flow Forecast

[34:53] - Key considerations for cash flow management

[42:48] - Rapid fire financial modeling questions

[48:28] - Final advice and closing thoughts

E-Commerce Growth vs. Profit – Drew Fallon's Insights.

Tue, 20 Aug 2024 05:00:00 -0600

In this episode of Financial Modelers Corner, host Paul Barnhurst delves into the intricacies of financial modeling in the e-commerce industry with guest Drew Fallon, a seasoned e-commerce entrepreneur and co-founder of Iris, a cutting-edge FP&A tool for e-commerce businesses. The discussion offers valuable insights into the unique challenges of financial modeling in a rapidly evolving digital landscape, particularly in direct-to-consumer (DTC) businesses.

Drew Fallon is an experienced entrepreneur in the e-commerce and CPG sectors. He began his career in equity research, working on high-profile IPOs like Airbnb and Corsair. Drew later co-founded and served as CFO for Mad Rabbit, an e-commerce brand that achieved significant growth under his leadership. Currently, he is the co-founder and CEO of Iris, a financial modeling platform that integrates AI to help e-commerce businesses automate their financial forecasting and analysis.

Key takeaways from this week's episode include:

The key components of effective financial modeling for e-commerce businesses.
How cohort forecasting and customer retention play crucial roles in revenue prediction.
The importance of understanding fulfillment costs and their impact on gross margins.
Why many e-commerce brands fail due to poor financial modeling and how tools like Iris can help.
Insights into Drew's journey from equity research to building successful startups in the e-commerce space.

Here are a few quotes from Drew Fallon:

"The number one thing to focus on with these e-comm businesses is the returning revenue number. If you mess up the forecast for your returning customer, it's the easiest way to mess up the gross profit forecast." - Drew Fallon
"E-commerce is a tough business on working capital. It can be really challenging if you don't model out your cash flow accurately." - Drew Fallon
"If you get the gross profit wrong, then you get the CAC wrong. And then all of a sudden you're losing money, and you die." - Drew Fallon

In this insightful episode, Drew Fallon emphasizes the critical importance of precise financial modeling in the e-commerce sector, particularly in managing customer retention, fulfillment costs, and the dynamics of working capital. His experience in scaling e-commerce brands and developing Iris underscores the need for specialized tools and methodologies to navigate the complexities of this industry. Whether you're an entrepreneur, financial modeler, or simply interested in the intersection of finance and technology, this episode offers valuable lessons on how to build sustainable, profitable e-commerce businesses.

Follow Drew:

Website - https://www.irisfinance.co/
LinkedIn - https://www.linkedin.com/in/drew-f-74947b117/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

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Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:10] - Introduction to the episode and guest Drew Fallon.

[04:44] - Drew’s background and E-commerce journey

[11:52] - Discussion on Drew’s passion for startups and its challenges and rewards

[17:04] - Key elements of financial modeling specific to e-commerce

[28:16] - Operational metrics and cost assumptions and how they affect overall financial health.

[35:06] - The advantages of using Iris in e-commerce financial modeling.

[41:53] - Quick insights into Drew's financial modeling preferences

[47:08] - Drew’s advice for aspiring financial modelers

[49:30] - Final thoughts and how to connect with Drew

The Art of Financial Modeling and Data Management with Adam Rakich

Tue, 13 Aug 2024 05:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the Art and Science of Financial Modeling with your host Paul Barnhurst.

Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.

In this episode, Paul Barnhurst delves into the intricate world of data integration, especially within financial modeling and FP&A. The discussion revolves around the practical challenges and solutions for accessing and automating data flows, a topic crucial for finance professionals who often grapple with multiple data sources and complex modeling tasks. The episode offers insights into the evolving landscape of data management tools and how they can streamline processes for businesses.

Adam Rakich, a seasoned expert in the world of FP&A tools and data integration, joins the show. With a diverse background spanning social media marketing software, FP&A consultancy, and leadership roles at companies like Workday and OneStream, Adam now focuses on making data integration more accessible through his work at Data Blend. His deep understanding of the challenges accountants and financial modelers face with data management makes him a valuable resource for listeners looking to optimize their processes.

Key takeaways from this week's episode include:

The common pitfalls and solutions in financial modeling and data integration.
When and why businesses should transition from spreadsheets to specialized planning tools.
Practical strategies for automating data workflows, even when dealing with outdated or diverse systems.
The importance of understanding APIs, SQL, and other technical aspects of data integration.
How to build a business case for investing in data integration solutions.

Follow Adam:

LinkedIn - https://www.linkedin.com/in/rakich/
Click the link below to claim your free book (For a limited time only): The Business User’s Guide to Data Integration
https://www.amazon.com/Business-Users-Guide-Data-Integration-ebook/dp/B0CMBMDCJ2/
https://www.amazon.co.uk/dp/B0CMBMDCJ2/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:30] - Introduction and worst financial model experiences

[07:18] - Adam shares his career path from economist to data integration expert

[09:38] - Transitioning from spreadsheets to planning tools

[16:56] - The challenges of data integration

[26:01] - Hybrid approaches to data automation

[28:55] - Tools and strategies for freelancers and small businesses

[37:46] - Adam talks about his book and the key takeaways for readers.

[44:32] - Rapid fire questions on financial modeling tools and techniques.

[52:47] - Final thoughts and contact information

Learn Best Practices with Excel and Google Sheets - David Benaim

Tue, 06 Aug 2024 05:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the Art and Science of Financial Modeling with your host Paul Barnhurst.

Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.

In this episode of Financial Modelers Corner, host Paul Barnhurst sits down with David Benaim, an Excel MVP and data consultant based in Cambodia. They delve into a comparative analysis of two of the most popular spreadsheet tools—Excel and Google Sheets. The discussion covers the strengths and weaknesses of each platform, providing listeners with insights into when and how to use these tools effectively in their financial modeling and data analysis work.

David Benaim is a chartered accountant and Excel MVP who has made a name for himself as an expert in both Excel and Google Sheets. Originally from the UK, David now runs a data consulting firm in Cambodia, where he specializes in Excel training and data solutions. With a deep passion for spreadsheets, David is uniquely positioned to discuss the nuances of both platforms, making this episode a must-listen for anyone looking to optimize their use of Excel or Google Sheets.

Key takeaways from this week's episode include:

Key differences between Excel and Google Sheets, including tables, functions and data entry features.
The strengths of Google Sheets in collaborative environments and its data validation capabilities.
How to decide whether to use Excel or Google Sheets for different types of projects.
Insights into the new table features in Google Sheets and how they compare to Excel’s tables.
David’s tips on getting started with Google Sheets for those accustomed to Excel.

Follow David:

Website - https://www.xlconsulting-asia.com/
LinkedIn - https://www.linkedin.com/in/davebenaim/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:21] - Introduction to the episode and guest David Benaim.

[03:52] - David shares his unique global background and career journey from Deloitte to founding his own firm in Cambodia.

[07:00] - Discussion about David’s transition from working at Deloitte to starting his own business in Cambodia and the challenges he faced.

[14:38] - In-depth comparison of functions unique to Google Sheets, like “COUNTUNIQUE”, “FLATTEN”, and others not found in Excel.

[23:35] - Criteria and scenarios where Google Sheets is the better tool, particularly in collaborative environments and data entry tasks.

[30:25] - A look at the newly implemented table features in Google Sheets and how they stack up against Excel’s tables.

[38:54] - David shares his decision-making process for choosing between Excel and Google Sheets based on project needs.

[43:56] - Quick-fire questions where David shares his preferences on various Excel and Google Sheets functionalities.

[49:31] - Tips and resources for users looking to improve their skills in Google Sheets.

[50:47] - Final thoughts and how to connect with David Benaim.

Managing Complex Models with Structure with Christopher Reilly

Tue, 30 Jul 2024 05:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the Art and Science of Financial Modeling with your host Paul Barnhurst.

Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.

In this episode of the Financial Modelers Corner, host Paul Barnhurst delves into the intricate world of financial modeling with returning guest Christopher Reilly. The conversation centers around what is necessary to build robust financial models, highlighting the importance of three-statement models and cash flow forecasting. The episode is filled with practical insights, advanced techniques, and professional experiences that underscore the significance of simplicity, accuracy, and best practices in financial modeling.

Christopher Reilly is a seasoned financial modeler with extensive experience in consulting, private equity, and financial modeling education. Starting his career during the financial crisis, Christopher worked on high-profile bankruptcies such as Lehman Brothers and Rescap. His journey took him from a senior analyst role at Hilton Worldwide to middle-market private equity, and eventually to founding his own financial modeling education business. Today, he focuses on teaching and building financial models, with his work being featured by Wharton Online, Wall Street Prep, and LinkedIn Learning among others.

Key takeaways from this week's episode include:

The importance of simplicity in financial models and how over-complicating can hinder their effectiveness.
Practical steps and considerations for building robust three-statement financial models.
Tips for auditing models to ensure accuracy and integrity.
How to use advanced Excel functions and shortcuts to enhance modeling efficiency.
Insights into the role of AI in financial modeling and how it may shape the future of the profession.

Follow Christopher:

Website - https://www.financialmodelingeducation.com/
LinkedIn - https://www.linkedin.com/in/chris-reilly-mission-capital/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

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LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

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Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:11] - Paul introduces the episode and welcomes back Christopher Reilly.

[02:31] - Christopher shares a story about a complex healthcare deal model that required significant simplification.

[03:55] - Discussion on the importance of keeping models simple and useful.

[05:01] - Christopher talks about his career journey and experiences over the past year.

[08:31] - Christopher explains why he is passionate about teaching financial modeling.

[11:43] - Why every finance professional should understand how to build a three-statement model.

[14:20] - Steps to take when beginning to build a three-statement model.

[22:17] - Tips on structuring models vertically and building essential checks to ensure accuracy.

[28:07] - How to effectively use support schedules and detailed assumptions in modeling.

[32:36] - Essential tips for error checking, building support schedules, and maintaining model integrity.

[39:10] - Key Excel formulas and functions necessary for building financial models.

[46:58] - Discussion on the potential impact of AI on financial modeling and its future integration.

[49:53] - Final thoughts and details on Christopher Reilly’s courses and where to find them.

Power Query Magic to Become a Financial Modeling Master with Ken Puls.

Tue, 23 Jul 2024 03:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the Art and Science of Financial Modeling with your host Paul Barnhurst.

Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.

In this episode, Paul Barnhurst sits down with Ken Puls, a renowned expert in financial modeling and Excel. The discussion delves into the intricacies of financial modeling, the evolution of tools like Power Query and PowerPivot, and how they are revolutionizing data management and reporting. Ken shares insights from his extensive experience and offers practical advice for both novice and seasoned financial modelers.

Ken Puls is a Chartered Professional Accountant (CPA) and a Microsoft Excel MVP. He is the founder of Excel Guru, a platform dedicated to Excel-based solutions, and the co-founder of Skill Wave Training, which offers comprehensive courses on Power Query, PowerPivot, and Power BI. With a career that bridges both finance and IT, Ken has become a leading voice in the world of financial modeling and data analysis.

Key takeaways from this week's episode include:

Ken's personal journey and how he became a leading figure in Excel and financial modeling.
The importance of simplifying data entry and reducing errors through automation.
Key features and benefits of Power Query and PowerPivot.
Practical tips for financial modelers, including the use of VBA and dynamic arrays.
Insights into the future of AI in financial modeling and its current limitations.

Follow Ken:

Website - http://www.excelguru.ca/
LinkedIn - https://www.linkedin.com/in/kenpuls/
Level up Your Skill with Ken’s book - https://excelguru.ca/master-your-data/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

[01:15] - Introduction to the show

[01:55] - Welcome to the guest

[02:15] - Horror Stories in Financial Modeling: Ken and Paul share their worst financial modeling experiences.

[04:50] - Lessons Learned: Key takeaways from those early modeling experiences.

[06:02] - Ken’s Background: Detailed overview of Ken’s career and expertise.

[08:24] - Current Projects: Ken discusses his current ventures, including Excel Guru and Skill Wave Training.

[12:14] - Technology in Accounting: How being tech-savvy has benefited Ken in his accounting career.

[16:04] - Discovery of Power Query: Ken shares how he first learned about Power Query and its impact on his work.

[26:04] - Getting Started with Power Query: Recommendations for beginners on how to learn and use Power Query.

[29:00] - Building Financial Statements with PowerPivot: Overview of Ken’s course and its benefits.

[37:46] - Rapid Fire Questions: Ken answers quick questions about financial modeling preferences.

[46:47] - AI and Financial Modeling: Discussion on the role of AI in the future of financial modeling.

[48:59] - Conclusion: Final thoughts and where to find more information about Ken’s work.

Quantrix vs. Excel - Financial Modeling with Lyndsey Weber

Tue, 16 Jul 2024 03:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the Art and Science of Financial Modeling with your host Paul Barnhurst.

Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.

Lyndsey Weber, a seasoned expert in financial and supply chain modeling join us this week for a lively conversatio on both financial and supply chain modeling. She recounts her experience with some of the worst models she has encountered, the lessons learned, and the importance of organization and design in creating effective models.

Lyndsey shares her journey from ExxonMobil to Quantrix, offering a deep dive into the art and science of financial modeling.

Key takeaways from this week's episode include:

Having a well-defined structure and approach is crucial for creating and maintaining effective financial models. Poorly organized models can lead to significant challenges and inefficiencies.

A horror story about inheriting a model filled with bad practices, including hidden reference cells and broken VBA code. The experience teaches her the value of starting over and building a model from scratch with best practices.

The importance of understanding stakeholder needs, both emotional and practical, and designing models that cater to these needs. This approach helps in building models that are not only functional but also user-friendly.

The benefits of using Quantrix over traditional Excel, highlighting features like always-on pivoting, natural language formulas, and role-based access, which enhance efficiency and collaboration.

One of Lyndsey's key pieces of advice is to prototype models on paper before building them. Mapping out inputs, outputs, and key calculations in plain English helps in creating a clear and effective model structure.

Quotes:

Here are a few relevant quotes from the episode on financial analysis and modeling:

"This model that I inherited had, I feel every bad practice in the book, I vividly recall a couple of formulas where they just pointed to what I would call a cell island.”-Lyndsey Weber

“Having a defined structure and approach that can be repeated, I think is essential.”-Lyndsey Weber

In this episode, Lyndsey provides valuable insights into the complexities of financial and supply chain modeling. She sheds light on the best practices and tools that can make a significant difference in model-building. This episode will help you enhance your modeling skills and create more effective and user-friendly models.

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’. Visit www.fminstitute.com/podcast and use code “Podcast” to save 15% when you register. 

Follow Lyndsey:

LinkedIn - https://www.linkedin.com/in/lyndsey-weber/

Follow Paul:

Website - https://www.thefpandaguy.com  

LinkedIn - https://www.linkedin.com/in/thefpandaguy 

YouTube - https://www.youtube.com/@thefpaguy8376 

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 

Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

[00:55] - Introduction;

[03:57] - Worst spreadsheet model horror story

[04:43] - Key takeaway: Importance of organization in modeling

[06:57] - Guest Backgrounds

[12:10] - Evolution of modeling roles at ExxonMobil

[14:20] - Differences between supply chain and financial modeling

[20:30] - Overview of Quantrix as a modeling tool

[22:00] - Advantages of Quantrix over Excel

[28:40] - Areas for improvement in Quantrix

[35:27] - Considerations for scalability and collaboration in modeling

[38:50] - Excel Discusssion

[44:58] - Rapid Fire Section

[52:23] - Importance of prototyping models

[53:00] - Get to know our guests personally and Conclusion

The Importance of Predicting and Influencing in FP&A with Carl Seidman

Fri, 12 Jul 2024 03:00:00 -0600

Welcome to a special episode of Financial Modeler’s Corner! Today, we're thrilled to bring you an exciting Podswap from FP&A Tomorrow. Stay tuned for an engaging conversation with Carl Seidman that you won't want to miss. Here are the show notes from our previous episode.

Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst.

In today’s episode, Paul engages in a conversation with Carl Seidman to discuss why mastering presentation skills, and understanding the needs of the audience is crucial for excelling in your FP&A career.

Carl is a premier FP&A and Fractional CFO expert, providing financial advisory and leadership development services to top companies including Deloitte, Verizon, and Walmart. Carl is known for his impactful training programs and advisory work that drive success in financial planning and analysis.

Key takeaways from this week's episode include: :

Here is a concise summary of the key points from the discussion:

In FP&A, the ability to distill complex information into a concise, impactful message is paramount. It's not about how much you know, but what you can communicate effectively.

The ability to distill complex information into a concise, impactful message is paramount. It's not about how much you know, but what you can communicate effectively.

FP&A isn't just about numbers, it's about storytelling with data, painting a vivid picture of the financial landscape that guides strategic decisions and drives organizational success

Anticipating potential disruptions or changes in the business environment is a fundamental aspect of FP&A. By identifying risks and developing strategies to mitigate them, FP&A professionals can help the organization stay ahead and adapt effectively.

Quotes:

Here are a few relevant quotes from the episode about FP&A mastery:

"You're not going to go to a nice restaurant and pay a lot of money for a delicious dish, and then have it be delivered in a greasy brown paper bag. Right. So the deliverable matters a whole lot. It can actually significantly dismiss the credibility or value of everything that came up before at that point in time."-Carl Seidman

"I think that Great FP&A looks like a team of people who are equipped, from a technical standpoint, to be able to execute the kinds of requests that are being asked of them."-Carl Seidman

“The demands in business, the increasingly fast-moving environment, competition, the risks of getting some of this planning wrong are pushing the need of FP&A to be a whole lot more proactive, a lot more agile, a lot more well rounded and thinking instead of just being about financial planning and reporting."-Carl Seidman

Follow Carl:   

LinkedIn - https://www.linkedin.com/in/carlseidman

Website - https://seidmanfinancial.co

For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions. For AFP FPAC certification answer the questions and contact Paul Barnhurst for further details.

In today’s episode: 

[01:25] Carl introduction;

[02:42] Changing FP&A trend over the next five years:

[10:00] Carl’s background:

[12:05] Carl’s passion for presenting and communication

[15:44] Favorite voice Carl can impersonate?

[20:42] Becoming better speakers and why presentation matters

[33:44] How you can be better at influencing

[40:44] Most important skills for FP&A professionals

[45:00] Carl’s LinkedIn learning course

[47:15] Rapid Fire

[51:35] Carl’s book recommendation

[55:51] Parting words

The Future of Financial Modeling With George Mount

Tue, 09 Jul 2024 03:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the Art and Science of Financial Modeling with your host Paul Barnhurst.

Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.

George Mount, Excel MVP and data analytics expert, with an extensive background in finance and data science, shares his insights into the evolution of Excel, the integration of Python, and the importance of data analytics for financial modelers.

Key takeaways from this week's episode include:

Excel's flexibility is both its greatest strength and weakness. While it allows for complex modeling, this same flexibility can lead to chaotic and error-prone spreadsheets if not managed properly.

Today's Excel is vastly different from the Excel of a decade ago. With features like Dynamic Arrays, Power Query, and the integration of Python, Excel has become a powerful tool for modern data analysis and financial modeling.

Python’s capabilities in handling time series analysis, data visualization, and complex computations complement Excel’s functionalities, making it a valuable skill for modelers.

Excel excels in prototyping and wireframing due to its immediate data visibility and user-friendly interface. This makes it ideal for quickly iterating models and understanding data before moving on to more complex tools when necessary.

George shares advice on how to get started learning Python and other analytical tools to take your analysis and modeling to new heights.

A core principle for George is the importance of sharing what you know about Excel and data analytics. He emphasizes building a culture of knowledge sharing to foster growth and efficiency within teams.

Quotes:

Here are a few relevant quotes from the episode on financial analysis and modeling:

"Excel’ greatest strength and weakness is its flexibility.”-George Mount

“Excel is not the Excel of ten, 15 years ago. I often like to kind of think of it as modern Excel with Power

"Query, Power Pivot, now Python, Dynamic Arrays, LAMBDA, LET, and other things.”-George Mount

“The first rule of knowing Microsoft Excel is not to tell anyone that you're good at it.”-George Mount

In this enlightening episode, George Mount provides valuable insights into the evolving world of Excel and data analytics. By integrating new tools like Python and embracing the advanced features of modern Excel, financial modelers can significantly enhance their analytical capabilities.

 Follow George:

LinkedIn - https://www.linkedin.com/in/gjmount/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

[01:06] - Introduction;

[02:14] - Worst spreadsheet model horror story

[04:49] - Importance of achievable modeling in Excel

[05:16] - Guest Backgrounds

[08:57] - Combining data science and data analytics in Excel

[11:01] - Necessity of learning Python and R

[17:19] - Recommended resources for learning Python

[20:27] - Exciting new features in Excel

[22:25] - AI's role in Excel and financial modeling

[25:55] - Favorite function in Excel

[29:00] - Rapid fire;

[37:08] - Get to know the guest and Conclusion

Innovative Approaches to Financial Modeling And Risk Management With Raphael Benhamou

Tue, 02 Jul 2024 03:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the Art and Science of Financial Modeling with your host Paul Barnhurst.

Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.

Raphael Benhamou, an independent consultant and fractional CFO explores the art and science of financial modeling. Raphael shares his experiences, insights, and a few horror stories from his extensive career, highlighting the importance of operational understanding and the advantages of using modern tools like Causal for financial modeling.

Sample Causal Financial models if you want to review how Causal works:

Subscription Model - https://www.benhamouconsulting.com/subscription-saas-revenues

Pipeline Model - https://www.benhamouconsulting.com/pipeline-saas-revenues

Key takeaways from this week's episode include:

Raphael emphasizes the critical need for regular audits of financial models to prevent errors and ensure accuracy. He shares a horror story about a model that wasn't audited for five years, leading to significant financial discrepancies.

While Excel is known for its flexibility, Raphael discusses the trade-offs of using more structured tools like Causal, which can help reduce errors and provide more insightful analysis through its object-oriented approach and natural language variables.

The importance of integrating operational data with financial models to provide actionable insights. He stresses that understanding business operations is crucial for building effective and useful models.

Raphael shares his journey from using traditional Excel spreadsheets to adopting Causal, a modern financial modeling tool. He explains how Causal's dynamic dashboarding, probability distribution modeling, and seamless integration with other systems offer significant advantages over Excel.

The discussion focuses on the potential of AI in financial modeling, Raphael notes that while AI can build models, the real question is whether it should. He also touches on the importance of human judgment and expertise in interpreting and using these models effectively.

Quotes:

Here are a few relevant quotes from the episode on financial analysis and modeling:

"My perspective on this is what I was saying earlier about operating connecting to finance. I think to be a good financial modeler, you need to have a good understanding of what what's going on in the business as well, not just at the finance level.”- Raphael Benhamou

“It gave me a great grounding in best practices for modeling across all modeling platforms, especially Excel. Because one of my big nitpicks with Excel and Google Sheets is that it's too freeform.”- Raphael Benhamou

This episode provides valuable insights into the evolving landscape of financial modeling. The discussion sheds light on the benefits of modern financial modeling tools like Causal, the necessity of regular audits, and the critical role of understanding business operations. Whether you're a seasoned financial modeler or just starting, this episode offers practical advice and thought-provoking perspectives on how to enhance your financial modeling practices.

 Follow Raphael:

LinkedIn - https://www.linkedin.com/in/raphaelmibenhamou/
Website - https://www.benhamouconsulting.com/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
TikTok - https://www.tiktok.com/@thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

[00:03] - Introduction

[01:01] - Guest Introduction

[03:47] - Key Takeaways from the Horror Story

[04:55] - Guests’ Background

[07:13] - Introduction to Causal

[08:03] - Transition to Finance

[12:29] - Love for Modeling

[14:00] - Early Career and Tools

[17:46] - Flexibility vs. Structure

[23:50] - Types of Models Built in Causal

[39:43] - Rapid-Fire Session

[48:12] - Get to know the guest

[49:46] - Conclusion

Building Structured Financial Models from Chaos With Brian Vaddan

Tue, 25 Jun 2024 03:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the Art and Science of Financial Modeling with your host Paul Barnhurst.

Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.

In today’s episode, Paul engages in a conversation with Brian Vaddan.

Brian Vaddan is a distinguished financial modeler with a rich background in investment banking and financial engineering. His emphasis on intellectual curiosity, the need for simplicity, and the creative nature of financial modeling provide listeners with a fresh perspective on the discipline.

Key takeaways from this week's episode include:

A distinction between those who use spreadsheets casually and those who build models as a core discipline. He emphasizes the importance of creating models that are understandable and usable by others, akin to the difference between a sketch artist and an architect.

Intellectual curiosity, an almost obsessive desire to solve problems, and the ability to bring structure out of chaos are highlighted as key traits for successful financial modelers. Brian stresses that these traits are more critical than technical skills alone.

One of the profound insights shared is the importance of simplifying complex problems. Brian believes that the true measure of a modeler’s intellect is their ability to present complex ideas in a straightforward and understandable manner.

Financial modeling is described as a deeply creative exercise. Brian compares it to art, where each model reflects the modeler’s thought process and experiences, much like an artist’s painting.

Brian shares his experience transitioning from being a modeler to managing a team. He discusses the challenges of letting go and empowering others, and the iterative learning process involved in both building and reviewing models.

Quotes:

Here are a few relevant quotes from the episode on financial analysis and modeling:

"I guess, the easiest way for me to describe it is the difference between somebody who sketches on paper and someone who's an architect, or someone who has a hammer and someone who's an actual carpenter.”- Brian Vaddan

“One of the primary differences is that you will do it for someone else. So when I built a lot of the initial models from the earlier part of my career, it was for me. It was to derive an answer that I needed to a question that was asked of me.”- Brian Vaddan

“The way you display the depth of your intellect, to me, is not the complexity in the formula that you build, but how you take that complex formula and simplify it into a manner that anyone with just a basic understanding can understand.”- Brian Vaddan

“Never stop learning and don't quench that intellectual curiosity that will make your modeling experience and career so much richer and so much more rewarding.”- Brian Vaddan

In this engaging episode of Financial Modeler's Corner, Brian Vaddan shares his insights on the intricacies of financial modeling. He recounts his journey from investment banking to EY, emphasizing the importance of intellectual curiosity and perseverance. He advises aspiring modelers to maintain a growth mindset and continually seek learning opportunities, providing valuable insights into the discipline of financial modeling.

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit. 

View and download the Financial Modeling Code at financial-modelling-code.ashx (icaew.com)

Follow Brian:

LinkedIn - https://www.linkedin.com/in/brian-vaddan-62ba7325/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
TikTok - https://www.tiktok.com/@thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

[00:03] - Introduction

[01:00] - Guest Introduction

[01:14] - Horror Story

[03:40] - Rule of Thumb

[04:10] - Guests’ Background

[06:28] - Spreadsheets vs. Modeling

[10:16] - Essential Traits for Modelers

[13:30] - Modeling as a Discipline

[19:00] - Simplicity in Complexity

[24:00] - Modeling as a Creative Exercise

[28:10] - Transition to Team Leadership

[33:00] - Rapid-Fire Session and Guests’ Contact Information

[38:10] - Conclusion

Discovering New Dimensions In Accounting with Sasha Orloff

Tue, 18 Jun 2024 03:00:00 -0600

Welcome to a special episode of our podcast! Today, we're thrilled to bring you an exciting Podswap. Stay tuned for an engaging conversation you won't want to miss. Here are the show notes from our previous episodes.

TLDR: These show notes were optimized using Claude AI Haiku and are designed to make you listen to the full episode. We even asked Haiku to provide a Haiku summarizing the show notes for your reading pleasure.

Haiku:

Finance takes new shape,

AI-driven transformation,

Shaping the future.

Prepare to be captivated as hosts Paul Barnhurst and Glenn Hopper welcome Sasha Orloff, CEO of Puzzle, to uncover the technological advancements reshaping the world of finance and accounting. In this eye-opening episode, you'll discover:

- How generative AI is seamlessly integrating into everyday software, automating tasks and delivering data-driven insights.

- The rise of "AI agents" in 2024 - advanced systems designed to autonomously process complex problems and provide tailored solutions.

- Sasha's visionary project, Puzzle, modernizing accounting software with real-time, flexible financial data processing.

- The transformative potential of blockchain technology to enhance transparency and traceability of financial transactions.

- The future of finance is reimagined through AI and predictive analytics, empowering more precise forecasting and strategic decision-making.

Sasha shares his insightful perspective:

- "I'm building Puzzle, which is modern accounting software for growing companies."

- "We may not yet be at a point where AI is going to take our jobs, but the future will be divided into two camps: people who use AI and those who don't. One of these groups is going to be left behind."

Don't miss this captivating conversation that explores the intersection of finance, technology, and AI. Gain invaluable insights to stay ahead of the curve and thrive in the rapidly evolving world of corporate finance.

Follow the Conversation:

Glenn Hopper (LinkedIn: https://www.linkedin.com/in/gbhopperiii)

Paul Barnhurst (LinkedIn: https://www.linkedin.com/in/thefpandaguy)

Sasha Orloff (LinkedIn: https://www.linkedin.com/in/saor/)

Puzzle (LinkedIn: https://www.linkedin.com/company/puzzlefin, Website: https://puzzle.io)

Future Finance is sponsored by Qflow.ai. Learn more at Qflow.ai/future-finance.

Financial Modeler’s Corner is sponsored by the Financial Modeling Institute. Learn more at https://fminstitute.com/podcast/.

In today's episode:

[01:52] Introduction

[03:30] The latest phase of the AI revolution

[04:49] Pros and cons of chatbots and the rise and evolution of AI agents

[09:15] Recent updates about AI

[12:51] Guest’s background

[14:00] Insights from guest’s career

[16:35] Introduction of Puzzle and future of general ledger in accounting

[25:10] How blockchain can be an effective tool for accounting

[30:22] How AI and predictive analytics can change finance in upcoming years

[34:32] Democratization of data science and various uses of machine learning

[39:05] Lighting Round Questions

Secrets to Building Error-Free Financial Models with Cameron And Nicholas Hay

Tue, 11 Jun 2024 03:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the Art and Science of Financial Modeling with your host Paul Barnhurst.

Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.

In today’s episode, Paul engages in a conversation with Cameron and Nicholas Hay to discuss dynamic arrays in financial modeling. Cameron and Nicholas share their experiences and insights on using dynamic arrays to build fully dynamic models, avoiding common pitfalls, and the benefits of this approach.

Cameron and Nicholas are seasoned financial modeling experts and co-founders of Finomatic Consulting. Their practical advice and innovative tips have helped countless professionals enhance their modeling skills.

Key takeaways from this week's episode include:

Use dynamic arrays to reduce the number of formulas and potential error points. Clearly separate inputs, calculations, and outputs into distinct sheets. This enhances clarity and ease of use.

Ensure uniform column and row structures across sheets. This consistency minimizes errors and simplifies formula management, making models easier to audit and understand.

Mixing traditional Excel formulas with dynamic arrays reduces the benefits. A complete commitment ensures better performance and error reduction.

Using graphs and charts helps quickly identify trends and anomalies, making it easier to ensure realistic assumptions and accurate models.

Establishes a solid foundation, ensuring you learn best practices early on, which prevents the development of bad habits and enhances overall modeling skills.

Implementing dynamic arrays can drastically reduce the file size and complexity of models, making them more efficient and manageable.

Issues like mixed calculations and unrealistic assumptions emphasize the importance of thorough checks and realistic inputs in financial modeling.

Download a sample fully dynamic 3-statement model Excel Files — The FP&A Guy (thefpandaguy.com) courtesy of Cameron and Nicolas Hay.

Quotes:

Here are a few relevant quotes from the episode on financial analysis and modeling:

"A blank Excel workbook doesn't have any errors in it until you add data and formulas. Minimizing the number of formulas should reduce the error potential of the file.”

“With business, if you can understand how cash flows around a business, that's you can get in and really understand a business.”

“If you're going to dip your toe into dynamic arrays, you've got to make sure you commit fully with 100% commitment.”

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit. 

View and download the Financial Modeling Code at financial-modelling-code.ashx (icaew.com)

Follow Cameron and Nicholas:

Cameron Hay LinkedIn - https://www.linkedin.com/in/cameron-hay-ca-a31b4752/
Nicholas Hay LinkedIn- https://www.linkedin.com/in/nicholas-hay-1992/
Website - https://finomatic.co.uk/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
TikTok - https://www.tiktok.com/@thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

[00:03] - Introduction

[00:40] - Guest Introduction and Theme for the Week: Dynamic Arrays

[01:50] - The Worst Financial Model the Guest Experienced

[02:00] - Horror Stories: Mixed Calculations and Unrealistic Assumptions

[04:10] - Key Takeaways from Horror Stories

[05:00] - Guests’ Backgrounds and Career Journeys

[10:00] - The Importance of Structure and Design in Financial Modeling

[14:10] - Introduction to Dynamic Arrays and Their Benefits

[21:30] - Challenges with Corkscrews and Lambdas

[31:20] - Rapid-Fire Session and Guests’ Contact Information

Golden Rules to Prevent Excel Disasters in Financial Modeling with Gary Knott

Tue, 04 Jun 2024 03:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the Art and Science of Financial Modeling with your host Paul Barnhurst.

Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.

In today’s episode, Paul engages in a conversation with Gary Knott, to discuss invaluable insights and tips on avoiding common Excel pitfalls, structuring workbooks for success, and the importance of consistency and clarity.

Gary is a seasoned financial modeling expert and author of "Avoid Excel Horror Stories." He shares his golden ground rules for Excel modeling. With a background at Deloitte and his successful consultancy, Gary's practical advice and innovative tips have helped countless professionals enhance their modeling skills.

Key takeaways from this week's episode include:

Organize workbooks with clear, logical structures. Separate inputs, calculations, and outputs into distinct sheets. Use consistent naming conventions and separator sheets to enhance clarity and ease of use.

Maintaining a consistent design throughout the workbook. Use uniform column and row structures across sheets. Consistency minimizes errors and simplifies formula management, making models easier to audit and understand.

Formal training in financial modeling is crucial. It establishes a solid foundation, ensuring you learn best practices early on, which prevents the development of bad habits and enhances overall modeling skills.

Real-life horror stories highlight common errors, such as improper data copying and pasting. Ensuring consistent data formats and understanding the intricacies of your calculations are essential to avoid costly mistakes.

Use Macros for repetitive tasks like generating output sheets, not for complex calculations. They help automate processes and reduce manual errors but should be applied judiciously to maintain model integrity.

Implement data validation to restrict inputs. This minimizes user errors by ensuring only valid data entries are made, such as positive numbers or specific date ranges, enhancing the reliability of your models.

Regularly test models to ensure accuracy. Use master check sheets to consolidate checks and quickly identify errors. This proactive approach helps maintain the model’s integrity and reliability over time.

Quotes:

Here are a few relevant quotes from the episode on financial analysis and modeling:

"Consistency is key." I think of all the rules there are, that's the one. If you follow that one, that can bring you a long way in terms of getting a reliable model.

“Certainly, getting trained early, not trying to learn it yourself, but taking some formal training course so you can learn the basics.”

“I'm always a very keen fan of putting checks in models, collating them all on a master check sheet, and then adding them all up.”

"If the difference is zero, then your balance sheet balances. You can send that through to a master check sheet. Then if you add them all up, all the checks up and they're totally zero, then you haven't identified any issues"

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit. 

View and download the Financial Modeling Code at financial-modelling-code.ashx (icaew.com)

Follow Gary:

LinkedIn - https://www.linkedin.com/in/garyknottconsulting/
Website - https://www.knott-consulting.com/
Book - Amazon.com: Avoid Excel Horror Stories

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
TikTok - https://www.tiktok.com/@thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

(00:55) - Introduction

(01:40) - Guest Introduction

(01:50) - The worst Financial Model the Guest Experienced

(01:56) - First Horror Story and Mixed Calculations

(02:50) - Second Horror Story and Daisy Chains

(04:06) - Guest’s Career Journey

(05:50) - The Role of Accounting in Financial Modeling

(08:45) - Guest’s Introduction as Author

(10:00) - Golden Ground Rules for Financial Modeling

(14:00) - Importance of Using a Clear and Logical Workbook Structure.

(17:00) - A clean, Consistent Design to Make Models Professional and User-friendly.

(23:10) - Instructions for Users to Ensure They Understand How to Use the Model.

(29:00) - Horror Stories from Financial Modeling

(33:40) - Tips and Tricks and Benefits of Using Power Query

(37:19) - Rapid-Fire Session

(42:10) - Guest's Contact Information

Unlocking Financial Model Secrets and Advanced Techniques with Stephen Aldridge

Tue, 21 May 2024 03:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the Art and Science of Financial Modeling with your host Paul Barnhurst.

Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.

In today’s episode, Paul engages in a conversation with Stephen Aldridge, to discuss developing and implementing Financial Modeling standards and best practices, including insights from his work on the Financial Modelling Code. This conversation is packed with practical advice and fascinating anecdotes.

Stephen, the founder of Numeritas, has over 20 years of experience in Financial Modeling. Stephen has worked with and for top firms like KPMG and Deloitte. With a background in engineering, sales, and corporate management, he offers a unique perspective on Financial Modeling standards and best practices.

Key takeaways from this week's episode include:

Standards in Financial Modeling ensure consistency and reliability in financial models. Having an agreed-upon approach within a firm allows for seamless transitions when different individuals work on the same model, promoting accuracy and ease of understanding.

Financial modeling involves various acceptable methodologies, making consensus on best practices challenging. Flexible guidelines, like the Financial Modeling Code, help streamline processes and ensure consistency across different approaches.

Prototyping in Financial Modeling bridges the gap between modelers and users by creating early mock-ups of input areas. This approach ensures the model meets user expectations and captures necessary inputs accurately, saving time and resources in the long run.

Human factors, such as biases and assumptions, significantly impact financial modeling. Effective communication and understanding stakeholder interactions are crucial for creating accurate and practical models.

In implementing Modeling Standards, Firms should adapt modeling standards to their specific needs with a focus on basic principles like avoiding hard coding and maintaining consistency to enhance model quality and reliability.

Quotes: 

Here are a few relevant quotes from the episode on financial analysis and modeling:

“I suppose a few things within a firm, you probably want a house style, at least an agreed approach, so that if somebody else picks up the model, has to work on it or somebody leaves, then you've got continuity.”

“Prototyping helps the user to see what they like to get. If they think, oh no, this isn't what I would imagine, what about these things then? You're getting all that out in the open before you start coding.”

“It's very important to think about the human aspect of modeling and what goes around it as well, and the assumptions we make and the bias that can creep in and all these sorts of things.”

“Keep the user at the center of everything you do, keep them at the center of your thinking, and that way you'll produce a model that's much easier to use, and likely to have a longer life.”

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit. 

View and download the Financial Modeling Code at financial-modelling-code.ashx (icaew.com)

Follow Stephen:

LinkedIn - https://www.linkedin.com/in/stephenaldridge/
Website - https://numeritas.co.uk/

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
TikTok - https://www.tiktok.com/@thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Newsletter- Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode: 

(00:50) Introduction

(01:40) Guest Introduction

(01:45) Horrifying Financial Models

(04:10) Approach to Financial Modeling

(05:25) Guest's Background and Career Journey

(08:20) Developing Modeling Standards

(15:09) Divergent Views and Common Agreements

(18:15) Best Practices and Lessons Learned

(24:30) Importance of Prototyping

(28:00) Most Enjoyable Modeling Project

(30:30) Joking on Big Numbers

(33:20) Rapid-Fire Question Round

(44:20) Guest's Advice for Aspiring Financial Modelers

(44:47) Guest's Contact Information

Financial Modeling Techniques for Global FP&A Success with Carolina Lago

Tue, 07 May 2024 03:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the art and science of financial modeling with your host Paul Barnhurst.

Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.

In today’s episode, Paul engages in an interaction with Carolina Lago and discusses the essential tips for transforming data into actionable insights and the strategic approach to avoiding common modeling pitfalls. This discussion offers valuable wisdom that will enhance your analytical skills and financial acumen.

Carolina, a seasoned FP&A professional with over 15 years of international experience, shares profound insights from her extensive career, including her role in a significant IPO and leading software implementation across global departments.

Key takeaways from this week's episode include:

An early career encounter with a poorly designed financial model, filled with hard-coded numbers, underscores the necessity for creating flexible and dynamic financial models that can adapt to changing business needs.

The discussion highlights the critical need to avoid hardcoded data and external links in financial models, which can lead to rigidity and errors.

Insights from the financial modeling newsletter and courses show a wide range of professionals benefiting, from newcomers to seasoned directors. This variety demonstrates the widespread need for improved modeling skills.

The discussion focuses on the importance of transforming data into actionable insights. It's stressed that without the ability to analyze and interpret data effectively, its value is minimal.

The conversation sheds light on techniques for deriving actionable insights from complex data, crucial for any financial modeler. It also discusses the value of formal certifications like the Advanced Financial Modeler Certification as tools for professional development and skill validation.

Quotes: 

Here are a few relevant quotes from the episode on financial analysis and modeling:

“I inherited one, and I had to try to change it. I spent probably a couple of weeks trying to make it better, and I couldn't. It was just too full of hardcoded numbers and I had to find everything the way around and no design at all.”

“The first thing I learned about financial modeling was not to use hard codes and don't link outside of the spreadsheet.”

“Data is only useful if it can be transformed into actionable insights.”

“The TACTIC is (Targets, Assets, Calculations, Tools, Insights, and Correlations.) You start with the target which is the question that you need to answer with that financial model.”

“That's why I like financial modeling so much because it can transform data into something. So you can make decisions on top of that data.”

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register. 

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit. 

Follow Carolina:

LinkedIn - https://www.linkedin.com/in/s-carolinalago
Website - https://www.tacticfinancial.com

Follow Paul:

Website - https://www.thefpandaguy.com  
LinkedIn - https://www.linkedin.com/in/thefpandaguy 
TikTok - https://www.tiktok.com/@thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode: 

(00:04) Introduction

(00:50) Guest Introduction

(01:00) Horrifying Financial Models

(02:00) Insights from Guest’s Early Career Challenges

(03:10) Guest’s Career Journey and Global Experience

(05:00) Turning Data into Actionable Insights

(07:30) Introduction of the Tactic Framework

(09:50) Audience Engagement and Learning Opportunities

(20:00) Certification and Continuing Education

(22:40) Rapid-Fire Round

(24:50) Advice for Aspiring Financial Modelers

(26:00) Contact information to learn more about various modeling techniques and tools.

Embracing Skepticism To Enhance Financial Modeling Techniques With Geoff Robinson

Tue, 23 Apr 2024 03:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the art and science of financial modeling with your host Paul Barnhurst.

Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally. https://www.abacum.io

In today’s episode, Paul engages in a conversation with Geoff Robinson, to discuss the financial modeling world, blending technical skills with behavioral economics to enhance decision-making in finance.

Geoff Robinson, founder of TheInvestmentAnalyst.com and seasoned financial modeler with a rich background in investment banking and education, notably as a former managing director at UBS.

Key takeaways from this week's episode include:

An unconventional entry into investment banking at 43, highlighting how the background in education enriches the approach to financial analysis and modeling, emphasizing the crossover skills between teaching and financial analysis. This highlights how teaching skills are transferable and beneficial in the financial analysis and modeling sectors.
An anecdote about a significant error in a financial model, which failed to detect a $29 billion discrepancy, underscoring the critical importance of rigorous validation and diagnostic checks in financial modeling.
In the role of behavioral factors in financial modeling, adopting a stance of professional skepticism and the need for understanding and questioning the assumptions underlying a model before trusting its output.
For simplicity and planning in financial modeling, the most effective models are those that are straightforward, well-planned, and can communicate complex financial insights in an accessible manner.
Strategies for mitigating bias, such as incorporating different perspectives and rigorous testing of hypotheses, as the influence of cognitive biases on financial modeling to enhance the reliability of financial models.

Quotes:

Here are a few relevant quotes from the episode on financial analysis and modeling:

"The diagnostic on this model was said if total assets equal total liabilities and equity, okay. So no matter what happened, your balance sheet, even if it was mashed up, the diagnostics said it was fine and when you went into the detail, there was a $29 billion hole in that balance sheet."

"Financial models are a real kind of insight and window into the personality of the modeler. You can see how they think, you can see how they overcomplicate things. You can see if they're sloppy."

“Models are question-asking tools. One of your questions was is it a primary decision maker, a financial model? I don't think models are decision-makers. I think models are the way you test a hypothesis.”

"I suppose the blunt thing to say is don't trust anything until you understand it."

Follow Geoff:

LinkedIn - https://www.linkedin.com/in/geofftheinvestmentanalyst

Website - https://theinvestmentanalyst.com

Follow Paul:

Website - https://www.thefpandaguy.com

LinkedIn - https://www.linkedin.com/in/thefpandaguy

For an experienced-based approach to financial modeling, emphasizing skepticism, the effective communication of complex financial data, and the intersection of analytical rigor, educational techniques, and behavioral economics, visit FMI at www.fminstitute.com/podcast and use code ‘Podcast’ to save 15% when you register. Contact Paul Barnhurst for further details.

In today’s episode:

(01:58) Introduction

(02:44) Guest Introduction

(03:00) Horrifying Financial Models

(04:01) Joking on Big Numbers

(04:24) Approach to Financial Modeling

(05:14) Behavioral Insights in Modeling

(05:56) Best Practices and Lessons Learned

(42:40) Rapid-Fire Question Round

(47.09) Guest's advice for aspiring financial modelers

(47.38) Contact information to learn more about various modeling techniques and tools

How Simplicity In Financial Modeling Enhances Decision Making

Tue, 09 Apr 2024 03:00:00 -0600

Welcome to the Financial Modeler's Corner (FMC), where we discuss the art and science of financial modeling with your host Paul Barnhurst. Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.

In today’s episode, Paul engages in a conversation with Scott Rostan, Founder of Training The Street.

Scott found his passion for finance with his dedication to teaching and has been driving innovation in financial training ever since. As CEO of Training The Street and as an adjunct professor at UNC Kenan-Flagler Business School, he inspires the next generation of finance professionals

Through his leadership as CEO of Training The Street, Scott has reshaped the landscape of financial education, equipping individuals with the skills and knowledge needed to thrive.

In this episode, expect to learn:

The significance of technical skills, such as financial modeling, accounting, and Excel proficiency, in the finance industry
How specialized training programs can help individuals enhance their financial knowledge and technical abilities
The evolving role of AI in finance and how it complements human expertise rather than replacing it
The balance between technical proficiency and interpersonal skills to excel in their careers
How individuals can build trust with clients, colleagues, and stakeholders, ultimately contributing to the integrity and credibility of the finance profession.

Quotes: 

“It's really easy to start throwing stuff together and writing a nasty old nested if formula or whatever it might be, but that doesn't always mean it's clean or effective or meets those requirements we talk about.”

“And when you get good with the prompt engineering typing, questions, and answers, you can get a lot more productive and faster.”

“It's not ideal because circular references can make your model more complex and harder to understand, but in certain situations, they're necessary for accuracy.”

“If you just blindly took the financial information from this database, it could be off by a big factor. So again understanding what's going on, understanding the nuance, understanding the limitations is going to be much more valuable.”

“They're going to trust you and value you to distill what's important and then present it in an easy-to-digest way so that they can understand in simple terms what is happening. The analysis comes from the model, but the story is going to come from you.”

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register. 

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit. 

Follow Scott:   

LinkedIn - https://www.linkedin.com/in/scott-rostan-86b44417a
Website - https://trainingthestreet.com/

Follow Paul:

Website - https://www.thefpandaguy.com/  
LinkedIn - https://www.linkedin.com/in/thefpandaguy/ 
TikTok - https://www.tiktok.com/@thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode: 

[00:45] Introduction;

[01:00] Scott’s horror story of the worst Financial Model;

[01:58] The KISS principle;

[03:53] Scott’s background;

[05:56] Key projects that helped Scott;

[19:17] Training the Street courses;

[21:02] How is AI changing modeling;

[28:59] Skills required for a great modeler;

[42:50] Scott’s favorite Excel shortcut;

[44:18] Rapid fire;

[48:55] Scptt’s final piece of advice;

Unraveling the Mystery: Roderick Mckinley's Guide to Navigating Tokenomics

Thu, 28 Mar 2024 03:00:00 -0600

In today’s episode, Paul engages in a conversation with Roderick McKinley, blockchain & Tokenomics advisor of Rmckinley.net

Roderick, a crypto expert, discusses financial modeling in the crypto space, highlighting challenges like token volatility and treasury management. He emphasizes aligning incentives for healthy exchanges and discusses his online course on Tokenomics Modeling and fundraising.

Roderick also offers strategic guidance, product development, and Tokenomic design services for various blockchain applications, including DeFi, blockchain games, and Layer 1 protocols. He assists in developing tokenized business models, designing token utilities, and structuring token allocations for successful capital raises.

In this episode, these are your learnings:

Understand the integration of finance and blockchain and Tokenomics and strategic guidance for blockchain projects.
Gain insights into challenges and opportunities in transitioning from traditional finance to the crypto space.
Learn how to navigate complexities like token volatility and incentive alignment in blockchain projects.
Obtain practical tips on developing tokenized business models, designing token utilities, and structuring token allocations for successful fundraising.
Acquire valuable knowledge for navigating the evolving landscape of blockchain and cryptocurrency.

Quotes:

“Financial modeling often has a lot to do with client and industry expectations. What passes as good work or what passes as enough can change very dramatically from country to country and sector to sector.”

“Some of the stuff they teach you is that, well, the world's this way because it can't be any other way. And you pass exams sort of like explaining why it's impossible to fix things but suddenly blockchain technology actually gives you a completely different kind of tool chest that opens that up again.”

“Try and look for the shortest and most efficient way to express your calculations. Try and maximize the speed of your model.”

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit.

Follow Roderick McKinley:

Linkedin: https://www.linkedin.com/in/roderickmckinley

Website: https://rmckinley.net/

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Follow Financial Modeler's Corner

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

01:10 Introduction

01:55 Rodrick’s horror story

03:55 Rodrick’s background

05:25 Getting stuck on a tropical island

06:08 Rodrick’s love of problem-solving, geeky coding, and number-crunching

11:50 Interview with Boris Johnson

13:17 Definition of token economics

21:39 How do crypto companies manage their treasury?

28:04 Simplifying Tokenomics modeling

30:01 Deciding on tool selection

35:51 Rodrick’s Favorite and Most Valuable Excel Shortcuts

37:25 Rapid fire

42:42 Wrap up

Shaping Business Strategy: Ian Bennett's Insights on What Makes for a Great Financial Modeler

Thu, 14 Mar 2024 03:00:00 -0600

In this episode, Paul is joined by Ian Bennett, Partner, Deals Modelling team at PwC, Australia.

With over 20 years of experience as a professional financial modeler, Ian has constructed and assessed models critical for major transactions, infrastructure projects, and routine forecasting and reporting. Today Ian leads the deal modeling practice for Pwc Australia.

In addition to being a world-class Modeller Ian is incredibly dedicated to diversity, inclusion, and wellbeing (DI&W). This has propelled him through various positions within PwC and beyond. As a proud LGBTIQ+ ally, he serves on the Steering Committee of Shine@PwC, the firm's LGBTIQ+ employee network, and currently holds the role of wellbeing lead for the Financial Advisory business.

In this episode, expect to learn:

Why understanding the stakeholders involved in a project is vital
Why it's essential to listen actively to clients, understand their needs, and ask the right questions
How to analyze the success and effectiveness of the financial modeling process
What are the tools and technologies available in the market
What are the new technologies and methodologies for financial modelers to stay effective and successful in their roles

Quotes:

“You need a desire to understand the power of the things you have in front of you and not be scared.”

“Every model tells a story, and that story is known at the start of the project, and the questions that the model will be able to answer.”

“Models are built for a single primary purpose at the time that they are conceived’

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit.

Follow Ian Bennett:

Linkedin: https://www.linkedin.com/in/ianrbennett

Website: https://www.pwc.com.au/deals/modelling.html

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Follow Financial Modeler's Corner

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

00:20: Introduction

01:10: Problem that bettered Ian

03:00: Ian’s insights on financial models

05:18: Ian’s story

07:13: What is MFM and why did Ian pursue it?

08:35: Ian’s experience in the Global Excel Summit

10:49 Why Ian is passionate about financial modeling

11:52: Ian’s favorite industry that he likes to model

13:13: What makes a good financial modeler?

16:49: Things beyond the model that help in a project?

22:05: Approach and methodology

27:00: Tools beyond Excel

34:40: Technical nugget when building new models

36:50: Rapid fire

39:08: Ian’s favorite function

45:00: Ian’s advice to become a better financial modeler

45:36: Wrap up

Mastering SaaS Models: Derek Baker's insights on building robust SaaS models

Thu, 29 Feb 2024 11:06:12 -0600

In this episode, Paul Barnhurst is joined by Derek Baker, who is drawn to really hard problems. Derek discovered early in his career that he loves startups and building companies.

He began his career working for SaaS startups, building out their core FP&A processes. For many of the companies he worked with, he was building their very first financial model to help them operate the business and make capital allocation decisions. He found that every business - regardless of stage - can improve performance with excellent FP&A.

Today, he works at Neighbor.com, a Series B startup, building the “Airbnb” of personal storage. Building the FP&A function for a marketplace has been the biggest challenge of his career, and he is loving every minute of it.

Listen to this episode as Derek shares:

How he got into financial modeling for SaaS companies
His advice for building robust SaaS Models.
The importance of understanding a business to build better Models.
Everything about SaaS and SaaS Companies.
His position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, AI in modeling, and more.

Quotes:

“ The only way you're really going to learn how to build a model is by building it. You can do all the study you want, but at the end of the day, it's like anything, without practice, it's just theory. ”

“ The better you know an industry, the better you know the operations of the business, the easier it is to build a model.”

“ [ What separates good FP &A from great FP & A] I think it's 1- business acumen and 2- business partnering. Anyone can build a model in Excel and can learn those technical skills. But using those technical skills to help the business and partner with the business to help them understand the business better and grow the business is exactly what FP&A should be doing....”

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://fminstitute.com/podcast/and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Follow Derek:

LinkedIn - https://www.linkedin.com/in/derek-d-baker/
Website - https://community.plan-buddies.com/home

Follow Paul:

Website - https://www.thefpandaguy.com/
LinkedIn - https://www.linkedin.com/in/thefpandaguy/
TikTok - https://www.tiktok.com/@thefpandaguy
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true
Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

(00:22) Intro;

(00:45) Welcoming Derek;

(01:00) The worst Financial Model Derek has ever seen ;

(02:00) Key takeaways from the worst Financial Model;

(02:41) Derek’ s background;

(04:41) Experience and Challenges while building the first Financial Model;

(07:20) What Derek thinks was missing from Finance Education in school?;

(10:13) What is it that Derek likes about SaaS and SaaS companies?;

(12:31) Key inputs in SaaS Revenue Models;

(15:08) What is the first tool that SaaS Startups must invest in?;

(16:40 - 17:25) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad ) ;

(17:26) Building a Three Statement Model - SaaS vs other Industries;

(19:00) Building Deferred Revenue;

(21:56) How to get started with building SaaS Models?;

(24:05) How often does Derek use Dynamic Arrays?;

(27:20) One thing that helped Derek in building Financial Models;

(29:20) Technical advice that can help people become better Modelers;

(32:26) Derek’s favorite Excel Shortcut;

(32:58) Rapid Fire;

(36:09) Nugget;

(36:55) Connect with Derek;

(37:21) Outro;

Beyond the Numbers: Lance Rubin's Insights on AI, Power BI, and the Future of Financial Modeling

Thu, 15 Feb 2024 10:00:00 -0600

In this episode, Paul Barnhurst is joined by Lance Rubin, who has a wealth of financial modeling experience including working for PwC & KPMG, Investec Bank Corporate Finance & Advisory, National Australia Bank, and starting his own practice.

Lance spent two decades working for corporations (PwC & KPMG, Investec Bank Corporate Finance & Advisory, National Australia Bank). It was during this time he gained a love of modeling.

Lance was previously the CFO of fin-tech start-up Banjo (SME lender) and Sequel CFO whilst founding Model Citizn, a financial modeling, analytics, and automation consultancy firm following his 20 years in corporate. He has delivered a number of online training workshops in financial modeling and Power BI whilst also being a certified trainer for the FMI and he wrote a large portion of the CA (ANZ) study guide on financial modeling. He was also a judge at the world’s first Financial Modeling Innovation Awards and he presented at the Power BI Global Summit in 2022.

Listen to this episode as Lance shares: 

His learning from the worst models he has come across.
His journey into Financial Modeling and how he fell in love with modeling.
The key to Financial Transformations.
The HACK Framework.
The importance of Power BI and similar tech.
His advice on the use of tools and shortcuts.
His position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, AI in modeling, and more.

Quotes: 

“Financial Transformation is the combination of process, tech, and people. With people being the most important.”

“The HACK Framework (Hygiene, Automation, Capability, Knowledge) allows you to bring technical skills and soft skills. together...You need to develop capability and knowledge and you need to bring that together with hygiene and automation.”

“Data Modeling and Financial Modeling sound the same but are fundamentally quite different.”

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register. 

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit. 

Follow Lance:   

Website - https://www.modelcitizn.com/
LinkedIn - https://www.linkedin.com/in/financial-modelling/

Follow Paul:

Website - https://www.thefpandaguy.com/  
LinkedIn - https://www.linkedin.com/in/thefpandaguy/ 
TikTok - https://www.tiktok.com/@thefpandaguy 
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true 
Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode: 

(00:22) Intro;

(00:47) Welcoming Lance;

(01:00) The worst financial model Lance has ever seen;

(05:14) Takeaway from the worst financial model;

(08:02) Lance’s background;

(11:27) Key to Finance Transformation;

(17:37) The Hack Framework;

(18:43 - 19:29) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(19:30) What led to Lance’s love for Modeling?;

(22:38) The most interesting model;

(26:30) Importance of Power BI and similar Tech;

(31:51) AI and Financial Modeling;

(36:10) The learning that saved Lance a lot time while Modeling;

(41:16) Rapid Fire;

(46:58) Connect with Lance;

(48:15) Outro;

Beyond the Classroom: Why Learning Excel is an Investment for your Career

Thu, 01 Feb 2024 11:58:13 -0600

In this episode, we have another special treat for you which is part two of the Financial Modeling World Cup (FMWC) and the Microsoft Excel Collegiate Challenge (MECC). Paul attended modeling competitions in Arizona and Las Vegas watching competitors compete and talking to the commentators, spectators, and faculty, and we have brought you a few of those interviews.

Listen to this episode as :

Andrew Ngai shares how amazing it was to look out at the facility, the HyperX arena in Vegas, and realize that this was his hobby.
The founder of FMWC, Andrew Grigolyunovich talks about how it fulfilled a dream of his to talk about that.
Competitors share why learning Excel is so important for your career.
The students share some of their experiences, favorite Excel formulas, and why they're such big fans of Excel and financial modeling.

Quotes:

“Our slogan is “Learn, Train, Compete” for the Financial Modeling World Cup.”

Andrew Grigolyunovich

"It was the dream come true...that was exactly the moment that the thing that I was dreaming of, probably since back in 2016."

Andrew Grigolyunovich

"You're able to just help each other out. So, yeah, for me, my favorite part was the collaboration, just interacting."

Zach

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit.

Follow Andrew Ngai :

LinkedIn - https://www.linkedin.com/in/andrewngai

Follow Andrew Grigolyunovich :

LinkedIn - https://www.linkedin.com/in/andrewgrig/

Follow Paul Wagner:

LinkedIn - https://www.linkedin.com/in/phwagner/

Follow Paul:

Website - https://www.thefpandaguy.com/
LinkedIn - https://www.linkedin.com/in/thefpandaguy/
TikTok - https://www.tiktok.com/@thefpandaguy
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner

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Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

(00:45) Intro;

(01:34) A clip with Andrew Ngai ;

(02:00) Interview with Andrew Grigolyunovich ;

(11:46) Interview with Paul Wagner ;

(17:12) Interview with Sarah ;

(22:12 - 22:58) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad ) ;

(22:59) Introduction to Students Clips Section ;

(24:30) Interview with Tess Patton and Spencer Angell ;

(39:57) Interview with Kameron ;

(43:56) Interview with Daniel;

(46:37) Interview with Mikayla & Carson ;

(52:20) Clip from the Team of Utah;

(58:43) Outro;

From Campus to Spreadsheet: The Microsoft Excel Collegiate Challenge Journey

Thu, 18 Jan 2024 10:55:31 -0600

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI) the most respected accreditation in Financial Modeling globally.

In this episode, we have a special treat for you with multiple guests who attended the Microsoft Excel Collegiate Challenge (MECC). At the beginning of November, Paul had the opportunity to spend a day at the University of Arizona campus and watch these students compete and talk to commentators, spectators, competitors, and faculty, and we have brought you a few of those interviews.

Listen to this episode as:

Excel MVPs, Oz Du Soleil and Jon Acampora share why they attended the show, what they love about the competition, and the magic of Power Query
The host of this competition, Prof David Brown talks about MECC.
The winner, Patrick Chatain and 3^rd-place finisher Benjamin Weber share their experiences.
Missy and Teresa from Salve Regina University, talk about why they started with Excel as they were building out a data analytics business program.
Craig Hatmaker shares everything about LAMBDA's and 5G modeling components.

Quotes:

“[How does MECC benefit students in the real world] Sometimes we get sponsors to actually write cases that are based on what they do . S o it gives them real-world experience of what they would be doing, which is invaluable w hen you're interviewing for a job . ....... ” - Professor David Brown

“ [Do you feel like you're better in Excel today for having competed] When I started competing, I didn't even know what Lambda, let alone dynamic arrays and all of that was. Now I know most of them and I think those are pretty good functions with pretty good use cases. So I think that made me a much better user in Excel. ” - 3rd Place Finisher Benjamin Weber

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Follow Oz du Soleil :

YouTube - https://www.linkedin.com/in/ozdata/

LinkedIn - https://www.youtube.com/channel/UCZgOVykPoRbSZQfY9YysiRQ

Follow Jon Acampora :

Website - https://www.excelcampus.com/

LinkedIn - https://www.linkedin.com/in/jonacampora

Follow David Brown:

LinkedIn - https://www.linkedin.com/in/dr-david-c-brown/?trk=public_post_feed-actor-name

Follow Craig Hatmaker :

LinkedIn: https://www.linkedin.com/in/craig-hatmaker-4449879/

Website: https://sites.google.com/site/beyondexcel/home
YouTube: https://www.youtube.com/@CraigHatmakerBXL

Building with Fast + 5G- https://www.youtube.com/watch?v=8Zl3yURsvdE&t=1s

Demo using 5G Components-
Intro 5G - Watch an Excel Model do something incredible using 5G methods - YouTube

Gist site to download Craig Hatmakers LAMBDAs for 5G modeling- https://gist.github.com/CHatmaker

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Am I Ok? - https://www.amazon.co.uk/Am-Essential-Questions-Investors-Financial-ebook/dp/B0CKY6XB4K?ref_=ast_author_mpb

Follow Financial Modeler's Corner

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

(00:43) Intro;

(01:44) Interview with Oz Du Soleil and Jo n A campora ;

(19:51) Everything about MECC with David Brown;

(25:43 - 26:30) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(27:30) Interview with Benjamin Weber ;

(36:34) Interview with Patrick Chat ain ;

(41:28) Interview with Missy and Teresa ;

(48:38) Interview with Craig Hatmaker;

(54:00) Outro.

Precision in Modeling: Sam Sivarajan’s Wisdom on Balancing Art, Science, and Decision-Making

Thu, 04 Jan 2024 10:00:00 -0600

In this episode, Paul Barnhurst is joined by Sam Sivarajan , who is a Speaker, Wealth Management Consultant, Behavioral Scientist, Stoicism Padawan, Fintech Advisor, Podcast Host, Bestselling Author and an Adventurer. He has a law degree, an MBA, a PhD in behavioral science, and has also earned a CFP.

Sam’s work is focused on how we can make better decisions so that we can get to better results – in investing, in leadership, and in our personal lives.

Listen to this episode as Sam shares:

His journey working in Telecom during the tech boom.
Advice on balancing the art and science of Modeling.
His advice on making smart assumptions.
The importance of Decision Making.
How to think critically when building a model and making assumptions.
Everything about his books ‘Making your money work’, ‘Uphill’ and ‘Am I Ok?’
His position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, AI in modeling, and more .

Quotes:

“ Never forget and lose sight of why you're creating the model, and who will use it....... ”

“ In my view, the model is simply a numerical representation of some prior deep-rooted strategic thinking , a nd you're bringing that to bear in that model as a representation . ”

“ A model is a simplification of reality. It isn't reality. And to remember that the model is but one tool in making key decisions. It shouldn't be the be all and end all...... ”

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Uphill - https://www.amazon.co.uk/Uphill-Ancient-Science-Choices-Challenges-ebook/dp/B0BGMJX9VN?ref_=ast_author_dp&dib=eyJ2IjoiMSJ9.fVxD2IJYvz1m0ZgBXJmkb595Ei0TtF8Wjx2TMOwZWzVdTmpjGxlD9-zbKVPzvrFn.gUxmNYfh-t6jXwKbr2EqugQZ4LBWXPOLoX6DrlNEsU0&dib_tag=AUTHOR

Follow Sam:

Website - https://www.samsivarajan.com/

LinkedIn - https://ca.linkedin.com/in/samsivarajan

Podcast - https://www.samsivarajan.com/podcast

Twitter - https://twitter.com/SamSivarajan

Sam’s books:

Making your Money Work - https://www.amazon.co.uk/Making-Your-Money-Work-Financial-ebook/dp/B0B36PDQLX?ref_=ast_author_dp&dib=eyJ2IjoiMSJ9.fVxD2IJYvz1m0ZgBXJmkb595Ei0TtF8Wjx2TMOwZWzVdTmpjGxlD9-zbKVPzvrFn.gUxmNYfh-t6jXwKbr2EqugQZ4LBWXPOLoX6DrlNEsU0&dib_tag=AUTHOR

Follow Financial Modeler's Corner

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

(00:22) Intro;

(00:45) Welcoming Sam;

(01:01) The worst financial model Sam has ever seen ;

(02:57) Sam’ s background;

(04:22) Sam’s experience at Telecom;

(10:27) How to balance the art of Art and Science of Modeling ;

(12:27) Why is the process often more important than the actual Model? ;

(17:07) Advice on Assumptions;

(21:51) Sam’s technique to get better at Modeling;

(22:30 - 23:15) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(23:21) How people think about making decisions;

(24:35) How to make better decisions;

(27:40) Frameworks that help with Decision Making;

(31:57) Sam’s experience while writing his books - Making your Money Work, Uphill and Am I Ok?;

(34:20) Rapid Fire;

(37:38) Connect with Sam;

(38:17) Sam’s advice on being a successful Modeler;

(39:34) Paul’s Top Picks

- The importance of the Thinking Process

- Validating Assumptions

(41:00) Outro

Exclusive Talk: Dave Hallwood, Giles Male, and Rafaël Le Saux Explore Being a Better Financial Modeler and Financial Modeling Certifications

Thu, 21 Dec 2023 21:22:54 -0600

In this LinkedIn Live, Paul Barnhurst is joined by three amazing Modelers, Dave Hallwood, Giles Male and Rafa ë l Le Saux.

Dave is the Group Finance Director at Aldrich Group Ltd . He is a Chartered Certified Accountant, Commercially minded with a background in Accounting and Business in SMEs

Dave took the AFM last year and the CFM this year.

Giles Male is a co-founder of Full Stack Modeler - an award-winning training program and community for Modelers at every level, with an opportunity to gain Full Stack Modeler accreditation. He will also be taking on a limited number of coaching clients in 2024. Giles took his AFM 2 years ago and is awaiting the result of CFM.

Rafaël Le Saux is a Director and Valuation & Modeling Advisory Lead at PwC Luxembourg / LVPA Board Member. He is passionate about Valuation and Modeling disciplines and has piloted his professional path toward amassing sufficient knowledge to support clients in solving complex valuation problems across different asset classes, industries, and geographies.

Listen to this episode as the guests talk about:

Their experiences in Modeling.
The value of Financial Modeling Accreditation.
How to improve your Financial Modeling skills
Their position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, AI in modeling, and more.

Quotes:

“this job is about people, it's about talking to people, it's about giving them information instead of data”

“One of the really good things about FMI is if you have got both AFM and CFM on your CV, that’s the level of credibility that reflects what you are doing.”

"Simple is hard, complex is easy"

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Follow Dave:

LinkedIn - https://www.linkedin.com/in/david-hallwood-fcca-87270449/

Follow Giles:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/
Apply to get Coached - https://fullstackmodeller.typeform.com/to/RezB1GRA

Follow Rafaël:

LinkedIn - https://www.linkedin.com/in/rafael-le-saux/

Follow Paul:

Website - https://www.thefpandaguy.com/
LinkedIn - https://www.linkedin.com/in/thefpandaguy/
TikTok - https://www.tiktok.com/@thefpandaguy
Twitter - https://twitter.com/TheFPandAGuy
YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true
Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

(00:22) Intro;

(00:46) Background of the guests - Dave, Giles, Rapha ë l;

(02:36) How did they become interested in building Financial Models?;

(06:40) Rapid Fire;

(14:55) What led these guys to take the FMI?;

(21:45) Why are they a fan of Financial Modeling World Cup?;

(23:36) How FMI helped them professionally?;

(24:45 - 25:30) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(27:18) What makes FMI unique?;

(37:36) When must someone take AFM and CFM?;

(41:03) FMI as a part of regular Graduation;

(46:08) Advice on being a better Financial Modeler;

(49:26) Connect with Dave, Giles and Rapha ë l ;

(50:40) Outro

From Classroom to Certification: Andy Temte's Unique Perspective on Financial Modeling

Thu, 07 Dec 2023 12:37:12 -0600

In this episode, Paul Barnhurst is joined by Dr. Andy Temte .

Dr. Andrew Temte, CFA, is the former CEO of Kaplan Professional and author of “Balancing Act: Teach, Coach, Mentor, Inspire,” and "The Balanced Business: Building Organizational Trust and Accountability through Smooth Workflows." He is also a board member and senior advisor at the FMI.

A thought leader on financial education and issues related to organizational health, continuous improvement, and workforce re-skilling, his articles have appeared in a number of media outlets, including Chief Executive and Chief Learning Officer.

This blend of higher education and professional education experience gives Dr. Temte a unique perspective when it comes to financial education and financial modeling

Listen to this episode as Andy shares:

His learning from the worst models he has come across.
His experience reviewing financial models for acquisitions.
His experience as a Member of the Board of FMI.
The value of Financial Modeling Accreditation.
Why he wrote his book ‘The Balancing Act’.
His position on controversial modeling issues.

Quotes:

“FMI is one of the only institutes that’s delivering a truly experiential credentialing process.”

“At the end of the day, modeling is about communication because you're helping communicate insights, derived from data and assumptions to drive behavior or changes or decisions. And so it's all about communicating.”

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Follow Andy Temte:

LinkedIn - https://www.linkedin.com/in/atemte/

Podcast - Balancing Act

Website - https://www.andrewtemte.com/

Andy’s books:

Balancing Act - https://www.amazon.com/Audible-Balancing-Act/dp/B0CFCZT4HN/ref=sr_1_2?crid=17K8UI3208G9Q&keywords=Andy+Temte&qid=1701342458&sprefix=andy+temte%2Caps%2C150&sr=8-2

The Balanced Business: Building Organizational Trust and Accountability through Smooth Workflows - https://www.amazon.com/Balanced-Business-Organizational-Accountability-.

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

Follow Financial Modeler's Corner

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

(00:22) Intro;

(00:46) Welcoming Andy;

(01:05) The worst financial model Andy has ever seen ;

(01:52) Andy’s key learning experience from the worst financial model ;

(02:45) Andy ’s background;

(05:07) Andy’s journey as a professor;

(07:16) Andy’s motivation to teach Finance ;

(11:02) Time at Kaplan;

(13:55) Andy’s views on the CFA program;

(17:27 - 18:13) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(18:18) Andy’s experience as a Member of the Board of FMI;

(20:03) Value of Financial Modeling Accreditation;

(25:23) Andy’s motivation behind writing the book “The Balancing Act”;

(33:17) What motivated Andy to start a Podcast?;

(34:54) Rapid Fire;

(37:27) Advice on being a successful Modeler;

(39:32) Connect with Andy;

(40:10) Outro.

Special Bonus Episode: Run the Numbers by CJ Gustafson

Thu, 30 Nov 2023 09:40:22 -0600

This week, we are bringing you another special bonus episode. This week, we are sharing a podcast that our host, Paul Barnhurst, recommends.

The Run the Numbers podcast is hosted by CJ Gustafson. The podcast is designed to talk about things he wishes he knew during the early days of his career that no amount of Googling would answer.

This week's Show Notes:

Sebastian Duesterhoeft, partner at Lightspeed Ventures, joins CJ to talk about anything and everything start-up operators need to know about your Total Addressable Market.

Request from you, the audience: We are constantly working to improve Financial Modeler’s Corner, and this week, I would like to ask for your help completing the survey about the podcast. This will help us make future episodes better for you, the listener. The survey will only take a few minutes to complete, and your response is invaluable to the team at Financial Modeler’s Corner.

Link to survey: https://forms.office.com/r/K2fHfSUvFp

TIMESTAMPS:

(00:00) Episode Preview

(00:55) SEGMENT: CJ's opening “Off the Books” monologue - the Billion Dollar outcome

(02:59) Start of interview

(04:38) Why is TAM so important to investors?

(09:19) Is a $2B TAM not good enough?

(12:06) How big is enough TAM?

(13:23) Sponsor: NetSuite

(14:44) Frameworks to calculate TAM

(19:19) Second and third growth engines

(25:18) On "maturity of the market"

(28:36) On extensibility

(32:27) Why your initial insertion point is crucial to your business

(36:22) ServiceNow and Datadog: why these companies are shining examples of expanding their TAM

(45:03) SEGMENT: Long-ass Lightning Round

(48:43) SEGMENT: Rep Yo Stack - Sponsored by Tropic

How Financial Modelers build a goldilocks “Just-right” Financial Model with Brian Egger

Wed, 22 Nov 2023 11:58:03 -0600

In this episode, Paul Barnhurst is joined by Brian Egger .

Brian is the Global Head of Financial Modeling, Senior Gaming/Lodging Analyst at Bloomberg Intelligence.

He has been publishing models professionally and writing investment research since the 90s on the sell-side as a brokerage analyst. His industry focus has always been broadly centered around consumer gaming, lodging, and leisure.

Brian has also worked in player-coach roles, whether it's being a research director or team leader or his current role, head of financial modeling, and outside the realm of being a practitioner, he has experience teaching as well.

Listen to this episode as Brian shares:

His experience with finding the right balance as a Modeler
His learning from the worst models he has come across.
His role as the Global Head of Financial Modeling at Bloomberg
Everything about Bloomberg’s Interactive Calculator.
Trends of the Industry over the years.
His thoughts on the FMI program and why continuous learning is so important.
His position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, AI in modeling, and more .

Quotes:

“ Models should be dynamic and not static, they should be integrated and not sort of siloed pieces not speaking to each other. ”

" There's a lot of merit just to continuously reinvesting in both your skill set and your credentials, and that it's really important to never stop doing that. The FMI has created a really intriguing platform as a way to do that. ”

“ The CFA exam prepares you in many ways to be a capable securities analyst. ”

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Join Paul in Vegas for the FMI World Cup Championship from

December 7, 2023 - December 9, 2023.

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit.

Follow Brian Egger:

LinkedIn - https://www.linkedin.com/in/brianegger/

Brian’s article on the balance between complexity and simplicity -https://www.linkedin.com/pulse/what-level-detail-enough-financial-model-brian-egger/?trackingId=08lGH6pSQ865qLFJar2nzQ%3D%3D

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

Follow Financial Modeler's Corner

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

(00:22) Intro;

(00:46) Welcoming Brian;

(01:02) The worst financial model Brian has ever seen ;

(02:37) Brian’s key learning experience from the worst financial model ;

(03:13) Brian ’s background;

(05:05) Role as a Global Head of Financial Modeling at Bloomberg;

(06:19) How to find the right balance while Modeling? ;

(08:08) Signs that a Model is too detailed;

(10:57) Signs that a Model is too simple to make decisions;

(13:43 - 14:30) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(14:39) About Bloomberg’s Interactive Calculator;

(15:58) Brian’s key learning from that Project;

(20:25) Guidelines on Balance;

(23:52) Brian’s thoughts on FMI;

(27:44) Trends of the Industry over the years;

(29:58) Rapid Fire;

(34:31) Advice on being a successful Modeler;

(35:23) Connect with Brian;

(35:50) Paul’s Top Picks - Finding the balance between complexity and simplicity

(39:32) Outro.

From Rocks to Riches: The Power of Financial Models in the Mining Industry with Emilie Williams

Thu, 09 Nov 2023 10:48:57 -0600

In this episode, Paul Barnhurst is joined by Emilie Williams.

Emilie holds a Bachelor of Engineering (B.Eng.) in Mining, a Masters degree in (M.A.Sc.), Civil Engineering, a nd has earned her Level I and II FMI modeling certifications.

She has been bridging the gap between mine engineers, operations, finance, and management for more than 15 years. She has real-world, industry experience working on mine project strategies, diagnosing, and solving for factors that lead to project delays and inefficiencies, and creating best-practice tools and models to help her clients manage their operations, costs and realize their objectives.

Listen to this episode as Emilie shares:

Her journey from mine engineer to full-time financial model
Her learnings from the worst models she has come across
The unique challenges of modeling in the mining industry
Her experience with competing in ESPN’s most recent Excel Battle
The importance of practicing to be a better modeler
Her position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, AI in modeling, and more

Quotes:

“ The dependencies on physical constraints are not always easy to model. ”

"[Attending an FMI Course was] the first time I realized that there was actually a way to do it and actually the structure of modeling was a real thing, as opposed to, let's just stick things in our Excel spreadsheet …”

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Join Paul in Vegas for the FMI World Cup Championship from

December 7, 2023 - December 9, 2023 .

Sign up for the event today and receive 10% off by using the special code ‘FP&AGUY10’.Click on the link to register: Financial Modeling World Cup

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Follow Emilie Williams:

LinkedIn - https://www.linkedin.com/in/emilie-williams-06582761/

Website - https://cvmconsultants.ca/

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

Follow Financial Modeler's Corner

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Special Episode: Breaking into Finance Podcast with Craig Thompson

Thu, 02 Nov 2023 12:30:16 -0600

Special Episode

This week we are bringing you a unique episode. This episode is a Breaking Into Finance podcast episode hosted by Craig Thompson featuring Paul Barnhurst.

Show Notes from Breaking Into Finance

Last episode we teed up the topic of exit opportunities and the types of careers paths available to finance professionals. Today we're excited to be joined by Paul Barnhurst AKA The FP&A Guy, host of FP&A Today and Financial Modeler's Corner. Financial Planning & Analysis ("FP&A") drives the strategic finance function at corporates and is an increasingly popular next step for ex-bankers. Paul is a thought leader in the space who helps break down the FP&A role, the skills you need to be successful, and his thoughts on the future of financial modeling.

For more Breaking Into Finance Episodes click here

https://open.spotify.com/show/3KtwQ1mhwj7X0HKK7RyJHc?si=8e9eeeed0c18463f

Mastering Finance: Navigating CFA Institute and CFA Program Changes with Rob Langrick

Thu, 26 Oct 2023 09:00:00 -0600

Rob Langrick, CFA, CIPM, is the General Manager of the CFA Program. He was previously Head of Practice Analysis, overseeing annual curriculum updates to the CFA Program.

Before joining CFA Institute, he lead Bloomberg’s finance education division, where he built and launched Bloomberg’s certification product. He began his career as a sell-side equity research analyst in London and, after earning his MBA from Dartmouth worked in the private equity diligence unit of Bain & Company in New York.

List to this episode as Rob Shares:

His learnings from the worst models he has seen in his career
His experience as an Equity Analyst
The CFA Program and why they modified the program to include new content
The value of FMI's financial modeling content to the new CFA Program
The importance of learning about Financial Models
His views on why financial models are one of if not the most important corporate decision making tool

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Quotes:

“Often the best way to learn something is to teach it to others.”

“Modeling is just another branch of logic, reason and rationality.”

Follow Rob Langrick:

LinkedIn - https://www.linkedin.com/in/rob-langrick-cfa-cipm-b16736/

Follow Paul:

Website - https://www.thefpandaguy.com/
LinkedIn - https://www.linkedin.com/in/thefpandaguy/
Instagram - https://www.instagram.com/thefpandaguy/
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Twitter - https://twitter.com/TheFPandAGuy
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Follow Financial Modeler's Corner

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Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

(00:22) Intro;

(00:48) Welcoming Rob;

(01:00) The worst financial model Rob has ever seen ;

(02:33) Rob’s key learning experience from the worst financial model ;

(04:20) Rob’s background;

(06:28) Rob’s experience as an Equity Analyst;

(08:53) What motivated Rob to move into Education;

(10:27) What lead Rob to join the CFA Institute;

(11:55) Roles Rob had at CFA;

(14:33 - 15:19) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(15:20) Changes to the Practical Skills Modules;

(16:43) People’s response to change;

(19:20) Changes apart from Practical Skills;

(22:22) The main benefit to Charter Holders;

(24:55) Experience with FMI;

(26:24) Why is it important for everyone in finance to learn the basics of financial modeling ;

(28:33) Rapid Fire;

(32:47) Advice to college students;

(34:27) Connect with Rob;

Financial Modeling Through the Years: Stories & Insights from Colin Human, David Thompson, and Prem Beejan

Thu, 12 Oct 2023 09:00:00 -0600

In this episode, Paul Barnhurst is joined by three distinguished modeling experts: Colin Human, David Thompson, and Prem Beejan.

Colin Human started out his financial career as a 22-year-old chartered accountant in South Africa. Today, he is the CEO of Goalfix and provides financial modeling consulting and training.

David Thompson is an independent financial consultant who provides expert financial modeling, financial planning & analysis, independent valuations, strategy, and corporate development services to both the public and private sectors.

Prem Beejan is the Chairman at Maubank Holdings LTD and the Co-founder of the Financial Modeling Centre in Mauritius. FMI recently awarded Prem the Master Financial Modeler, and he is one of only 6 people globally to be awarded the designation.

Listen to this episode as they share about:

How they got started in financial modeling
Their experience and learning from the worst models that they came across
Financial modeling over the years and how it has changed.
The various Modeling tools used by them
The impact of Generative AI on Models
The importance of Formal Accreditation
Their position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, and more

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Follow Colin Human:

Website - https://goalfixglobal.com/staff/colin-human/

LinkedIn - https://www.linkedin.com/in/colin-human-b8072812/

Follow Prem Beejan:

Website - https://www.fmcmauritius.com/

LinkedIn - https://www.linkedin.com/in/prem-beejan-msc-mfm-5a921025/

Follow David Thompson:

Website - https://tghcorp.com.au/

LinkedIn - https://www.linkedin.com/in/strategy-finance-valuations-modelling/

Follow Paul Barnhurst:

Website - https://www.thefpandaguy.com/

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

TikTok - https://www.tiktok.com/@thefpandaguy

Twitter - https://twitter.com/TheFPandAGuy

YouTube - https://www.youtube.com/@thefpaguy8376

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Quotes:

“ Strategic thinking is really crucial for financial modelers as it allows them to create dynamic, adaptable, insightful models that can support a company's strategy and decision-making . ” - David

“ Unquantified strategy is just wishful thinking. It's as simple as that. ” - Colin

“ I am not saying that we cannot build models in other tools , t here could be other tools to build financial models , b ut the best, the easiest, the most accepted, the way it's made, the presentation, the reporting , and everything, it's all Excel. ” - Prem

In today’s episode:

(00:22) Intro;

(00:55) Welcoming the Guests - Colin, Prem and David;

(01:33) The worst financial model David has ever seen ;

(02:31) The worst financial model Colin has ever seen ;

(04:16) The worst financial model Prem has ever seen ;

(05:44) David’s key learning experience from the worst financial model ;

(06:23) Colin’s key learning experience from the worst financial model ;

(07:16) Prem’s key learning experience from the worst financial model ;

(08:00) David’s background;

(09:01) Colin’s background;

(10:51) Prem’s background;

(13:48) First Model Colin built;

(17:10) First Model David built;

(19:27) First Model Prem built;

(21:55) First Model Paul built;

(22:39) Changes seen over the years in Modeling ;

(24:52) Tools used in Modeling;

(28:19 - 29:05) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(29:06) What kept David interested in Modeling;

(31:08) Prem’s take on the impact of Generative AI on Models;

(32:24) Colin’s take on the impact of Generative AI on Models;

(34:48) David’s take on the impact of Generative AI on Models;

(36:20) Important skills to be a great Financial Modeler - David;

(37:29) Important skills to be a great Financial Modeler - Colin;

(38:53) Important skills to be a great Financial Modeler - Prem;

(40:37) The need for Formal Accreditation’s;

(43:19) Why Prem decided to earn the designation of Master Financial Modeler;

(46:51) The importance of Strategic Thinking;

(49:41) Rapid Fire;

(56:42) Nugget on Financial Modeling from the renowned Guests;

(58:51) Connect with David, Prem and Colin;

Charting a Start-up’s Journey: Financial Models for start-up’s with Zainab Nwachuku

Thu, 28 Sep 2023 09:00:00 -0600

In this episode, Paul Barnhurst is joined by Zainab Nwachuku , who is the Managing Director and the lead Financial Modeler of The Intellectual Plug which is a consulting firm in Nigeria that helps founders get ready for funding with investors.

Zainab is extremely passionate about financial modeling and hopes more women who are fond of numbers choose to join the profession.

Listen to this episode as Zainab shares:

Her journey from accounting to financial modeling
Her experience and learnings from the worst models she has come across
Her experience working with founders to help turn their ideas into a financial model that can help make their dreams a reality
The horror story of linking workbooks in Excel
Her unwavering passion for Modeling
Her position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, and more

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Quotes:

“ I feel like you actually have to make those mistakes yourself to even get it to understand because otherwise, you know, how do you even know that o h, it's not a model ?”

“ Simply being able to actually build a financial model has really taught me a lot about communication. ”

“ If you're not listening to the founder, whether or not they can implement some strategies i f you don't understand that from the founder, the model isn't going to make sense .”

Follow Zainab:

Website - https://theintellectualplug.com/

LinkedIn - https://www.linkedin.com/in/mszainababu/

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

https://www.linkedin.com/company/financial-modeling-world-cup/

Follow Financial Modeler's Corner

LinkedIn Page - https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Newsletter - Subscribe on LinkedIn https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Must follow LinkedIn Profiles:

Financial Modeling World Cup

Financial Modeling Institute

https://www.linkedin.com/company/fminstitute/

Chris Reilly

https://www.linkedin.com/in/chris-reilly-mission-capital/

Danielle Stein Fairhurst
https://www.linkedin.com/in/daniellesteinfairhurst/

Hedieh Kianyfard

https://www.linkedin.com/in/hediehkianyfard/

Lance Rubin

https://www.linkedin.com/in/financial-modelling/

Giles Male

https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:

(00:22) Intro;

(00:51) Welcoming Zainab;

(01:06) The worst financial model Zainab has ever seen ;

(02:27) Zainab’s key learning experience from the worst financial model ;

(03:30) Zainab’s background;

(05:00) What is fun and challenging about Modeling;

(07:05) About the Financial Modeling Group for women;

(09:50) Women in Modeling;

(11:17) About The Intellectual Plug;

(12:38) Common Company challenges;

(14:21) Funding routes for Start-ups in Nigeria;

(16:10 - 16:57) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(16:58) What does Zainab love about working with these start-ups;

(18:36) Challenges Zainab faced to build a model for early stage companies;

(20:57) Advice on building models for early stage companies;

(24:16) Rapid Fire;

(28:07) Nugget on Financial Modeling;

(29:45) Connect with Zainab;

(30:30) Paul’s best picks

The way Zainab talks about terrible models.
The way she communicates her journey of building models.
The horror story of workbooks
And her incredible passion for Modeling.

(32:00) Rapid Fire: The Pattern So Far;

(35:18) Must Follow LinkedIn Profiles

(37:22) CPE Credit

(37:40) Outro

Are LAMBDAs & Dynamic Arrays the future of Financial Modeling? A lively discussion with 4 modeling experts.

Thu, 14 Sep 2023 00:00:00 -0600

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI), the most respected accreditations in Financial Modeling globally.

In this episode, your host, Paul Barnhurst is joined by 4 fabulous guests, namely, Jeff Robson, Danielle Stein Fairhurst, Craig Hatmaker & Ian Schnoor. They are all highly accomplished and respected modelers in the Financial Modeling profession. In this episode they share thoughts on Dynamic Arrays and LAMBDAs.

Jeff is a Financial Modeler, Business Analyst, International Trainer & Presenter. Danielle is a Financial Modeler, Author, and Corporate Trainer based in Australia. Craig is a retired Financial Modeler and is a 5G (fifth generation) modeling enthusiast, and Ian is the Executive Director at the Financial Modeling Institute (FMI), which is also the sponsor of this Podcast.

Listen to this episode as the guests talk about:

Why it is important to keep current on the latest developments in modeling
LAMBDAs what they are and how they could revolutionize financial modeling
Dynamic Arrays, what they are, how they work, and what it is like to build a model using Dynamic Arrays
How Dynamic Arrays will make auditing models easier
The guest's favorite Dynamic Array formulas

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit with this episode.

Follow Jeff Robson:

Linkedin: https://www.linkedin.com/in/jeffrobson/
Website: www.accessanalytic.com.au
YouTube: https://www.youtube.com/@AccessAnalytic

Follow Danielle Stein Fairhurst:

Linkedin: https://www.linkedin.com/in/daniellesteinfairhurst/
Website: https://plumsolutions.com.au/

Upcoming Events for Danielle Stein Fairhurst

Danielle is speaking at the global excel summit - Global Excel Summit 2024 | Microsoft Excel Event | Welcome
Upcoming webinar on Scalable models - https://www.linkedin.com/events/scalablemodelling-usingmsfabric7106464501708840960/

Follow Craig Hatmaker:

Linkedin: https://www.linkedin.com/in/craig-hatmaker-4449879/
Website: https://sites.google.com/site/beyondexcel/home
YouTube: https://www.youtube.com/@CraigHatmakerBXL

Building with Fast + 5G- https://www.youtube.com/watch?v=8Zl3yURsvdE&t=1s

Demo using 5G Components-
Intro 5G - Watch an Excel Model do something incredible using 5G methods - YouTube

Gist site to download Craig Hatmakers LAMBDAs for 5G modeling- https://gist.github.com/CHatmaker

Follow Ian Schnoor:

Linkedin: https://www.linkedin.com/in/ianschnoor/
Website: https://fminstitute.com/

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

YouTube - _{https://www.youtube.com/@thefpaguy8376}

Follow Financial Modeler's Corner

LinkedIn Page - https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Subscribe to our Newsletter- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Quotes:

“Python brings a suite of libraries that can do some amazing things.”

“You don’t have to learn Python, Dynamic Arrays, or LAMBDAs for Financial Modeling, but you need to know it exists to stay relevant.”

“ Dynamic arrays force you to have consistent formulas. ”

“ LAMBDAs are functions that write functions using native excel functions. ”

“Learn the basics and start experimenting.”

In today’s episode:

(00:22) Intro;

(00:39) Introduction of Guests;

(03:30) Take on Python into Excel ;

(06:49) Addressing Security Issues ;

(07:32) What are Dynamic Arrays ;

(09:58) Use case of Dynamic Arrays;

(11:45) What is LAMBDA;

(18:20) FMI exams and Dynamic Arrays;

(21:57) LAMBDAs for 5G modeling ;

(24:13) How to use 5G modeling;

(26:29 - 27:15) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(28:59) Auditing Dynamic Array Models;

(33:30) Favorite spillable functions;

(36:58) The potential of a standard to use LAMBDAs and Dynamic Arrays;

(39:45) AI building Models;

(44:20) Advice for the audience;

(46:59) Advice on LAMBDAs;

(49:15) Advice for Modelers;

(51:42) Connect with Jeff, Danielle, Craig & Ian

(52:57) Outro

Become a better Modeler by developing a decision-making mindset: Hedieh Kianyfard

Thu, 31 Aug 2023 00:00:00 -0600

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host, Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI) the most respected accreditations in Financial Modeling globally.

In this episode, Paul Barnhurst is joined by Hedieh Kianyfard, who is the founder of Finexmod. This is the website where Hedieh shares her views on financial modeling and shows that it’s possible to have fun with finance.

Hedieh is passionate about economic development and aims to make financial modeling easy and fun for everyone.

Listen to this episode as Hedieh shares:

Her journey and background in financial modeling
Her experience and learning from the worst models that she came across
How Hedieh considers Modeling as a great career and more than a stepping stone.
Responsibility as a modeler to reject bad projects and help ensure good projects are accepted.
Everything about her book- Financial Modeling Detective
10 Financial Modeling Commandments
Why people should avoid circular references – hint they are the devil 😊
The importance of having a decision-making mindset
Her position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, and more

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Quotes:

“A Financial Modeler is like a Fortune Teller.”

“Modeling is a great career and more than a stepping stone.”

“ It’s important to put yourself, in the end, users' shoes to understand their needs better. ”

“ As modelers we have a responsibility to reject bad projects and help ensure good projects are accepted. ”

Follow Hedieh:

Website - https://www.finexmod.com/

LinkedIn - http://linkedin.com/in/hediehkianyfard

Instagram - https://instagram.com/finexmod

Facebook - https://m.facebook.com/people/Finexmod/100063965894693/

Youtube - https://youtube.com/@FinancialModelDetective

The Interpolate-Lookup function as explained by Professor Edward Bodmer- https://edbodmer.com/interpolate-lookup-function/

Financial Model Detective Book: Financial Model Detective: Hints and tricks for review of financial models: Kianyfard, Hedieh: 9781074174606: Amazon.com: Books

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

Follow Financial Modeler's Corner

LinkedIn Page - https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Newsletter - Subscribe on LinkedIn https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

In today’s episode:

(00:22) Intro;

(00:45) Welcoming Hedieh;

(01:06) The worst financial model Hedieh has ever seen ;

(03:26) Hedieh’s key learning experience from the worst financial model ;

(06:23) Hedieh’s background;

(09:35) About Hedieh’s website - Finexmod

(10:23) About Hedieh’s book - Financial Modeling Detective

(12:25) Why is it important to have someone audit Financial Models

(16:12) Financial Model Ten Commandments

(17:31) Rule 9 - Why people should avoid circular references

(19:21) Rule 10 - The Modeler shouldn’t be selfish

(21:15 - 22:02) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(22:03) The decision makers mindset;

(26:31) How to develop that decision making mindset;

(28:30) What is the process of infrastructure project;

(30:58) Rapid Fire;

(35:31) When did Hedieh realize Financial Modeling as a career

(37:31) Connect with Hedieh;

(38:32) Paul’s best picks:

(40:50) CPE Credit with this episode;

(41:20) Outro

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Becoming a Better Financial Modeler with Chris Reilly

Thu, 17 Aug 2023 00:00:00 -0600

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI), the most respected accreditations in Financial Modeling globally.

In this episode, Paul Barnhurst is joined by Chris Reilly, who is the founder of Financial Modeling Education. Chris spent many years working in private equity, and today, he runs his own business focused on providing financial modeling education and financial modeling consulting services.

Chris is very passionate about Financial Modeling and helping others learn to build robust financial models focused on the 3-financial statements.

Listen to this episode as Chris shares:

The worst model he ever built; hint it involves using his phone :)
His journey and background into Modeling
The importance of simple, uncomplicated model design
How being a part of a financial modeling community like FMI can help modelers
The revolver approach for managing cash and why it is important in modeling
The benefits and challenges of using EBITDA to value a company
His position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, and more

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code Podcast.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Follow Chris:

Website - https://www.financialmodelingeducation.com/

LinkedIn - https://www.linkedin.com/in/chris-reilly-mission-capital/

Newsletter - https://financialmodelingeducator.com/

Follow Financial Modeler's Corner LinkedIn Page & Subscribe to Newsletter

Linkedin Page - https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

LinkedIn Newsletter - https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

Quotes:

“ A poor design leads to a poor output. ”

“ Schedules feed the structure. Once you have that dialed in your head you can build whatever you want. ”

“ It’s nice to have a community where you can get some live feedback on your search as opposed to going down the internet rabbit hole. ”

“To learn to be a modeler you need to model. Spend time finding ways to improve your modeling skills.”

In today’s episode:

(00:22) Intro;

(00:47) Welcoming Chris Reilly;

(01:00) The worst financial model Chris has ever seen ;

(03:01) Chris’s takeaway from the worst financial model ;

(05:56) Chris ’s background;

(07:40) What Chris wished he had known that he knows now;

(11:52) FMI’s Premier Modeling Community;

(14:33 - 15:20) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(15:21) Hardest concept for people to grasp;

(18:23) Reasons why balance sheets do not work;

(20:00) The Revolver Approach;

(21:48) The most important skill to build a Financial Model;

(23:22) The value of EBITDA and its pitfalls;

(29:07) Rapid Fire;

(31:35) Chris’s take on Circular References

(33:23) Nugget on how to become a better modeler;

(36:36) Connect with Chris;

(37:48) Paul’s best picks- how Chris learned from his initially not so perfect models and how those mistakes helped him become the best educator.

(38:56) CPE Credit with this episode;

(39:07) Outro.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Financial Modeling education, Excel competitions, exciting academic research and more with Professor David C. Brown

Thu, 03 Aug 2023 00:00:00 -0600

In this episode, Paul Barnhurst is joined by David C. Brown, an Associate Professor of Finance. David focuses on teaching finance and financial modeling, bringing his real-world experience to the classroom with his students. He is also heavily involved in helping students improve Excel skills, including running the Microsoft Excel Collegiate Championship (MECC)

He is very passionate about research and his work has been highlighted by the Wall Street Journal and MarketWatch.

Listen to this episode as David shares:

His journey and background into Modeling
His experience starting and running the Microsoft Excel Collegiate Challenge
How Financial Modeling competitions help you grow and learn
The key differences between modeling for competition and modeling for work
His learning from his research and years of experience
How he would structure the college finance program if he were in charge
His latest research on Target Date Funds and how they perform relative to other retirement portfolios
His position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, and more

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code podcast.

Visit www.fminstitute.com/podcast and use code podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Follow David:

YouTube - https://www.youtube.com/@docbrownexcels

Website - https://www.davidclaytonbrown.com/

E-mail - dcbrown@email.arizona.edu

· To learn more about Microsoft Excel Collegiate Challenge, visit this website- https://mecc.college/

Follow Paul:

Website - https://www.thefpandaguy.com/

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

TikTok - https://www.tiktok.com/@thefpandaguy

Twitter - https://twitter.com/TheFPandAGuy

YouTube - https://www.youtube.com/@thefpaguy8376

Quotes:

“ Collegiate Challenge is not about being the best, its about challenging yourself, learning more and getting better at it. ”

“ If you understand Python you can figure out Excel. ”

“ Excel is the way to get people into data analytics. ”

“ Challenge the assumptions, challenge the model and eventually figure out whats wrong. ”

In today’s episode:

(00:22) Intro;

(00:45) Welcoming David Brown;

(01:25) The worst financial model David has ever seen ;

(03:17) David’s take away from the worst financial model ;

(06:08) David ’s background;

(10:05) How David decided to become a Finance Professor ;

(12:39 - 13:25) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(13:27) What is the Microsoft Excel Collegiate Challenge;

(17:20) Excel Tables;

(19:17) Advice to students willing to participate in these competitions;

(21:33) David’s experience with these competitions;

(24:47) How to help students with a hands on experience to building models;

(27:04) David’s suggestion to changes in college curriculum;

(29:07) Financial Modeling for competitions vs. Building it for clients;

(31:10) David’s learning from his research;

(37:58) Rapid Fire;

(42:19) Nugget on how to become a better modeler;

(43:57) Connect with David;

(44:50) Paul’s best picks

– How David wishes to teach the college program for Finance

(45:23) CPE Credit with this episode;

(45:40) Outro.

Benefits of competing in the Financial Modeling World Cup - Insights from World Champion Diarmuid Early

Thu, 20 Jul 2023 00:00:00 -0600

In this episode, Paul Barnhurst is joined by Diarmuid Early, one of the best modelers in the world and, the Founder of Early Days Consulting. He is a regular competitor in the Financial Modeling World Cup (FMWC) and is often referred to as the Michael Jordan of financial modeling for his impressive results. He is the winner of the 2021 FMWC and a runner-up in the 2020 and 2022 editions.

Listen to this episode as Diarmuid shares:

His journey and background into Modeling

How Financial Modeling competitions help you grow and learn

The key differences between modeling for competition and modeling for work

His practical advice on how to build a 3-statement model

How assumption ambiguity and structural ambiguity impact your model.

His position on controversial modeling issues including circular references, dynamic arrays, modeling standards and more

Financial Modeler’s Corner is sponsored by the Financial Modeling Institute

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% of by using the special show code FMC15.

Visit www.fminstitute.com/podcast and use code FMC15 to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit for listening to the episode.

Follow Diarmuid:

YouTube - https://www.youtube.com/@DimEarly/

LinkedIn - https://www.linkedin.com/in/diarmuidearly

Stream the events of FMWC live on YouTube by visiting - Financial Modeling World Cup

Link to the next streaming session on July 27th at 9 AM MST of which Paul Barnhurst will be a part - Battle VII - Road to Las Vegas 2023 (Excel Esports)

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

Quotes:

“You need to have certain discipline around what you want your model to do.”

“Getting better at excel has been more valuable than getting better known by winning the FMWC.”

“ Do terribly struggle for an hour and a half with what should have been a 30-minute question, but eventually get it out. You'll learn a ton from that. ”

“ The big value in the competition is a learning opportunity and you don't need to train to start learning. ”

“ The person who is most valuable as a financial modeler is the one who can tell you what are good assumptions to make. ”

In today’s episode:

(00:22) Intro;

(00:45) Welcoming Diarmuid;

(01:16) The worst financial model Diarmuid has ever seen ;

(04:13) Diarmuid’s take away from the worst financial model ;

(07:45) Diarmuid ’s background;

(09:45) How Diarmuid became interested in Financial Modeling Competitions ;

(11:48) How Diarmuid felt after winning the competition;

(12:51) What Diarmuid enjoys about competing;

(18:05) Financial Modeling for competitions vs. Building it for clients;

(22:37 - 23:23) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(23:30) Diarmuid’s top advice for competitions;

(25:10) Rapid Fire;

(29:45) Nugget on how to become a better modeler;

(34:40) Connect with Diarmuid;

(35:40) About FMWC;

(37:55) CPE Credit with this episode;

(38:30) Outro;

David Brown: The Future of Financial Modeling

Thu, 06 Jul 2023 00:00:00 -0600

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI), the most respected accreditations in Financial Modeling globally.

In this episode, Paul Barnhurst is joined by David Brown, the Managing Partner of D Brown Consulting and one of the most respected financial modelers, consultants, and educators in the field of finance with offices on multiple continents.

Listen to this episode as David shares:

His journey and background into Modeling
How to find your passion and be willing to put yourself out there
How he learned he had a passion for teaching at a young age
How intuition is a good place to start, but the model helps validate hunches and numbers
How he explains the balance sheet without using numbers to non-finance people
Ways to embrace AI and use it to be more efficient in the work you do.
His position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, and more

Follow David:

Website - https://www.dbrownconsulting.net/

Twitter - https://twitter.com/dbrownanalyst

Instagram - https://www.instagram.com/dbrownconsulting/

YouTube - https://www.youtube.com/c/dbrownconsultingdbrownconsultingtv

To learn more about David Brown and his offerings, see below:

Learn more about dbrownconsulting and their practices and methodologies for working with data, by following this link: https://youtu.be/4qp8f3u3NvM
Take your financial modeling skills to new heights with dbrownconsulting’s Advanced Financial Modeler Certificate Course!

Ian Schnoor: Why validate your Financial Modeling Skills?

Thu, 22 Jun 2023 00:00:00 -0600

In this first episode, Paul Barnhurst is joined by Ian Schnoor, the Executive Director of the Financial Modeling Institute and one of the foremost educators on financial modeling globally.

Listen to this episode as Ian shares:

· What it was like in the early days of financial modeling

· Why FMI created a financial modeling accreditation in the first place

· The importance of Financial Modeling as a profession

· How FMI created a community to help all modelers find the best resources and elevate the profession in the process

Follow Ian:

Website - https://fminstitute.com/

E-mail - info@fminstitute.com

Follow Paul:

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/