Financial Modeler's Corner

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:

Here are a few quotes from Carl Seidman:

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.

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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

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:

Here are a few quotes from Mark Proctor:

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.

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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

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:

Here are a few quotes from 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.

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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

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:

Quotes from the Episode:

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.

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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

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:

Here are a few quotes from 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.

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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

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:

Here are a few quotes from 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.

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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

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:

Here are a few quotes from Paul in this episode:

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.

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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

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:

Here are a few quotes from 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.

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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

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:

Here are a few quotes from 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.

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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

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:

Here are a few quotes from 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.

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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

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:

Here are a few quotes from 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.

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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

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:

Here are a few quotes from 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.

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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

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:

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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

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:

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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.

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:

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

Visitwww.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.

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:

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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.

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

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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

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

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:

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.

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.

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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

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:

Key takeaways from this week's episode include:

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.

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 Raphael:

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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

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:

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.

Sign up for theAdvanced Financial Modeler AccreditationToday and receive 15% off by using the special show code ‘Podcast’. Visitwww.fminstitute.com/podcast and use code“Podcast”to save 15% when you register.  

Go tohttps://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:

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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

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:

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

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:

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.”

Sign up for theAdvanced Financial Modeler AccreditationToday and receive 15% off by using the special show code ‘Podcast’. Visitwww.fminstitute.com/podcast and use code“Podcast”to save 15% when you register.  

Go tohttps://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:

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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

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:

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"

Sign up for theAdvanced Financial Modeler AccreditationToday and receive 15% off by using the special show code ‘Podcast’. Visitwww.fminstitute.com/podcast and use code“Podcast”to save 15% when you register.  

Go tohttps://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:

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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

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:

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.”

Sign up for theAdvanced Financial Modeler AccreditationToday and receive 15% off by using the special show code ‘Podcast’. Visitwww.fminstitute.com/podcastand use code“Podcast”to save 15% when you register.

Go tohttps://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:

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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

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:

Quotes: 

Here are a few relevant quotes from the episode on financial analysis and modeling:

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 Podcastto save 15% when you register.  

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit.

Follow Carolina:

Follow Paul:

Follow Financial Modeler's Corner 

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.

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:

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

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:

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:  

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Follow Financial Modeler's Corner  

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;

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 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:

Quotes: 

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/

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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

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 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:

Quotes: 

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:

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/

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