Training Courses - FAST Modeling Skills
Transaction
Training
Model
Fimech.tv
T101
FAST Modeling Skills
Overview
FAST Modeling Skills (T101) is a 2-day course that teaches financial modeling through FAST modeling design and construction techniques, which we introduce in a free 1-hr FAST Mechanics webinar. Each participant will be taught to apply these techniques rigorously, as he or she models a simple business acquisition case study. All of the calculations required to forecast the three primary financial statements -- profit and loss, balance sheet, and cash flow -- are modeled step-by-step, and the target company is valued based upon the present value of forecast dividends.
The course also includes an overview of inflation indexation, modeling depreciation, and deferred tax. Though we will model simple term debt interest and repayment calculations, financing issues are largely absent (see follow-on T-series courses). The course de-emphasizes theory in favor of detailed instruction and hands-on practice with good model design and modeling techniques, which are applicable to a wide variety of modeling topics.
FAST Modeling Skills is aimed at those people who need to build, modify, or run financial models.
| Date | Location | Price | Status |
|---|---|---|---|
| 21 Sep 10 - 22 Sep 10 | London | £1,900 | Wait list only |
| 26 Oct 10 - 27 Oct 10 | London | £1,900 | Wait list only |
| 7 Dec 10 - 8 Dec 10 | London | £1,900 | Wait list only |
Target audience
FAST Modeling Skills is aimed at those people who need to build or run financial models. For those with no modeling experience, this course provides a solid introduction to real-world financial modeling. For experienced modelers, this course will help the quality and productivity of your modeling.
Teaching approach
FAST Modeling Skills is a hands-on course with limited lecturing or speaking to PowerPoint slides. Attendees follow the instructor, while building their own financial models on their own computers; in this way they immediately practice what they have been taught.
Though the course provides a general grounding (or review for the more experienced) of basic financial accounting principles, the main aim of the course is to teach and practice FAST modeling skills, namely producing models that are flexible, accurate, structured, and transparent.
Agenda
The course covers elements of model design, Excel modeling techniques, and some basic financial accounting principles. Participants will rigorously apply FAST modeling principles to improve their modeling design, style, structure, and productivity.
As participants incrementally construct their models, they will avoid using the mouse in favor of keystroke techniques that will improve both their modeling speed and accuracy. All the while we will progress towards producing a fully-functioning financial model, accommodating subjects such as capital expenditure and modeling straight-line depreciation, deferred tax, the primary financial statements, basic term debt calculations and valuing forecast dividends.
Day 1 includes specific sessions focused on:
- Preparing the Excel environment followed by an initial 'skills and drills' session on disciplined use of keyboard shortcuts before we apply techniques to financial calculations.
- Introducing timing flags and indexation factors through simple modeling of operating revenues and expenses; purpose of relative anchoring to allow re-use of calculation blocks
- Setting up primary ‘balance corkscrews’ via modeling of fixed asset capital expenditure and depreciation and simple term debt interest and principal calculations
- Review of interim P&L, balance sheet, and cash flow using placeholders and introduction to alternative modeling sign conventions; what's the remaining road map for Day 2?
Day 2 continues to implement FAST modeling techniques through specific sessions focused on:
- Structured approach to reliable indexation factors; forecast price indices vs. contract reference price levels.
- Taxation: actual cash tax paid vs. P&L tax charge and deferred tax; simple introduction of concepts (see T301 "Advanced Tax Modeling" for detailed implementations).
- Share capital account; calculating profit-constrained dividends.
- Present value of shareholder distributions as primary DCF valuation methodology; model flexing and wrap-up on ancillary points raised and topics of interest to participants.
Requirements
Attendees should have a basic understanding of MS Excel (e.g. syntax of IF statement, purpose of $s for anchoring cell references). They will also need to bring a laptop with them, ideally one they are accustomed to using, with a Microsoft Windows operating system and Microsoft Excel loaded with Analysis Toolpak available. Laptops may be rented from Financial Mechanics for an additional charge.
Instructor
John Richter
John Richter is the instructor for this course. John was formerly a principal instructor for F1F9, a specialist financial modeling company that now licenses its training courses exclusively to Financial Mechanics. He has over 20 years experience in finance and has been teaching both introductory and advanced courses in financial modeling, as well as running his own modeling services company, for the past 8 years.
In partnership with his former colleague at F1F9, John developed the principles of FAST modeling; an approach to financial modeling adhered to by leading financial institutions and other organizations around the world. He has a BSc in Mechanical and Aerospace Engineering (1985) from Princeton University and an MBA (1992) from Harvard Business School.
Kenny Whitelaw-Jones
Kenny joined Financial Mechanics following 7 years as a financial advisor on project finance transactions across the energy, health, education, and waste sectors. Kenny has worked for several leading advisory firms including KPMG and Deloitte. In additional to his MA, he holds an MBA from Solvay Business School in Brussels and is a member of the Association of Corporate Treasurers and the Securities Institute.
Attendee comments
Here are some comments from past course attendees:
Presentation style is interactive and helps keep interesting going. Very good-clear explanations.
Really excellent course. Very well presented. John made the topic interesting and made a good job of including the course students.
Very good lecturer; patient, highly skilled, good examples, practical background, takes time for answering questions.
Very dynamic. Step by step. Excellent instructor overall, kept the class interested and the course was very interactive and practical
Very motivated and kept the course interesting, was very successful in his methods. Presents material very well. Clear and easy to follow
Well informed instructor, good background, keen in replying to questions with certain ease
The delivery of the underlying concepts and modelling techniques was very professional and made interesting. Importing a good skills-set required for modelling.
Well-paced, not over-bearing and excellent explanations. Gives lucid explanations to the more difficult matters and is very helpful.
Overall, useful introduction to financial modelling, with lots of tips and techniques recommended. Very impressed.
This is good to start, looking forward to the advanced course.
Really worthwhile - it's just a case of going away and practising the techniques regularly.