FP&A Modeling Course

Lesson 1 • Role of FP&A in Organisations

Defines FP&A's mandate within finance and its relationship to accounting, strategy, and operations. Establishes context for all modelling work that follows.

Lesson 2 • Balance Sheet and Cash Flow Essentials

Explains assets, liabilities, equity, and the three cash flow sections. Prepares analysts to link statements in integrated models.

Lesson 3 • Reading the Income Statement

Covers turnover, cost of goods sold, operating expenses, and net income line items. Connects income statement structure to driver-based modelling logic.

Lesson 1 • Workbook Architecture and Best Practices

Establishes tab structure, colour-coding conventions, and input-output separation. These habits prevent errors and make models auditable.

Lesson 2 • Essential Lookup and Reference Formulas

Covers VLOOKUP, INDEX-MATCH, XLOOKUP, and OFFSET for dynamic data retrieval. Enables analysts to build flexible, data-linked models.

Lesson 3 • Date, Text, and Aggregation Functions

Introduces SUMIFS, COUNTIFS, AVERAGEIFS, date functions, and text manipulation. Supports period-based aggregation and data cleaning tasks.

Lesson 4 • Data Tables and Sensitivity Analysis

Demonstrates one-variable and two-variable data tables for rapid sensitivity testing. Directly supports scenario analysis covered in later chapters.

Lesson 1 • Customer and Cohort Revenue Models

Models revenue using customer counts, conversion rates, and retention curves. Applies to subscription, SaaS, and recurring-revenue businesses.

Lesson 2 • Seasonality and Growth Adjustments

Incorporates seasonal indices and growth rate assumptions into monthly forecasts. Produces a realistic time-phased revenue schedule.

Lesson 3 • Driver-Based Modelling Philosophy

Contrasts driver-based and trend-based forecasting and explains when each applies. Sets the analytical mindset for all revenue and cost modelling ahead.

Lesson 1 • Operating Expense Schedules

Forecasts sales, marketing, R&D, and G&A expenses using driver-based and percentage methods. Produces a fully itemised OpEx schedule.

Lesson 2 • Depreciation and Amortisation Schedules

Builds PP&E and intangible asset schedules with straight-line and accelerated methods. Feeds D&A into the income statement and cash flow statement.

Lesson 3 • Headcount and Compensation Planning

Models salary, benefits, and payroll taxes from a headcount roster. Headcount is typically the largest operating expense and requires granular treatment.

Lesson 4 • Cost of Goods Sold Modelling

Builds COGS schedules using material, labour, and overhead drivers. Connects gross margin outcomes to operational assumptions.

Lesson 1 • Working Capital and Balance Sheet Drivers

Models accounts receivable, inventory, and accounts payable using days-based assumptions. Working capital changes flow directly into operating cash flow.

Lesson 2 • Debt Schedule and Interest Modelling

Constructs a revolving credit and term loan schedule with dynamic interest calculations. Introduces the circular reference challenge and resolution methods.

Lesson 3 • Cash Flow Statement Construction

Builds the indirect-method cash flow statement from net income and balance sheet changes. Validates model integrity through the cash reconciliation.

Lesson 4 • Income Statement Model Construction

Assembles revenue and cost schedules into a complete projected income statement. Establishes the top of the three-statement linkage.

Lesson 1 • Rolling Forecast Methodology

Builds a 12-month rolling forecast that replaces actuals as periods close. Demonstrates how rolling forecasts improve accuracy over static budgets.

Lesson 2 • Actuals vs. Budget Variance Analysis

Calculates and categorises favourable and unfavourable variances by driver. Variance analysis is the primary tool for management reporting.

Lesson 3 • Annual Budget Process and Structure

Covers the budget calendar, stakeholder inputs, and consolidation workflow. Positions the budget as the baseline for all subsequent variance analysis.

Lesson 4 • Waterfall and Bridge Charts

Builds waterfall charts to visualise period-over-period and budget-to-actual changes. Visual bridges communicate variance stories to non-finance audiences.

Lesson 1 • Scenario Planning Framework

Defines base, upside, and downside scenarios with distinct assumption sets. Scenario planning translates strategic uncertainty into financial outcomes.

Lesson 2 • Monte Carlo Simulation Basics

Introduces probability distributions and random sampling to model output ranges. Provides a more rigorous alternative to deterministic scenario analysis.

Lesson 3 • Break-Even and Threshold Analysis

Calculates break-even turnover, units, and margin thresholds under varying cost structures. Directly supports pricing and investment decisions.

Lesson 1 • Discounted Cash Flow Valuation

Builds a DCF model using projected free cash flows, WACC, and terminal value. Connects FP&A forecasting directly to enterprise valuation.

Lesson 2 • Capital Expenditure and ROI Modelling

Evaluates capital projects using NPV, IRR, and payback period frameworks. Supports capital allocation decisions and board-level investment proposals.

Lesson 3 • M&A Financial Screening Models

Builds acquisition screening models with synergy estimates and accretion-dilution analysis. Equips FP&A analysts to support corporate development teams.

Lesson 4 • Executive Dashboard and Model Output

Designs a one-page executive summary dashboard pulling from the integrated model. Translates complex model outputs into clear, decision-ready visuals.