Financial Modeling in Excel Course

Lesson 1 • Core Formula Mechanics

Introduces formula syntax, operator precedence, and error types. Provides the formula literacy needed for every subsequent modeling task.

Lesson 2 • Workbook Organization Best Practices

Establishes naming conventions, tab color coding, and sheet linking standards. Prepares students to build structured, maintainable multi-sheet models.

Lesson 3 • Excel Interface and Navigation

Covers the ribbon, workbook structure, and keyboard shortcuts critical for speed. Sets the baseline efficiency expected throughout the course.

Lesson 1 • Math and Statistical Functions

Applies SUMIF, COUNTIF, AVERAGEIF, and array math to aggregate financial data. Supports summary schedules and KPI calculations in models.

Lesson 2 • Date and Text Functions

Covers EDATE, EOMONTH, YEAR, MONTH, and text manipulation for period-based models. Enables accurate timeline construction and label automation.

Lesson 3 • Lookup and Reference Functions

Teaches VLOOKUP, HLOOKUP, INDEX, and MATCH for dynamic data retrieval. Enables models to pull inputs from tables without hard-coded values.

Lesson 4 • Financial Functions Overview

Introduces NPV, IRR, PMT, FV, and PV as built-in financial tools. Connects Excel's function library directly to core finance concepts used in models.

Lesson 1 • Model Architecture Principles

Defines the input-calculation-output framework and single-source-of-truth rule. Prevents circular logic and hard-coded values that undermine model integrity.

Lesson 2 • Error Checking and Model Auditing

Uses trace precedents, dependents, and balance checks to validate model logic. Students learn to build self-auditing models that flag inconsistencies automatically.

Lesson 3 • Assumption and Driver Sheets

Builds a centralized assumptions tab that feeds all calculations. Teaches students to isolate variables so models can be updated with minimal rework.

Lesson 1 • Revenue Forecasting Methods

Covers volume-price, growth rate, and market-share approaches to revenue projection. Students select the appropriate method based on business model type.

Lesson 2 • Cost of Goods Sold and Gross Margin

Models COGS as a percentage of revenue and as a fixed-plus-variable structure. Establishes gross margin as the primary profitability driver in the model.

Lesson 3 • Below-the-Line Items and Net Income

Models interest expense, tax provisions, and non-recurring items to reach net income. Prepares the income statement for linkage to the balance sheet and cash flow.

Lesson 1 • Debt and Equity Schedule

Models debt drawdowns, repayments, and equity issuance to complete the balance sheet. Ensures financing activities are captured in the cash flow statement.

Lesson 2 • Three-Statement Model Integration

Links all three statements so changes in one flow automatically through the others. Students verify model integrity using a balance check and cash reconciliation.

Lesson 3 • Working Capital Schedule

Models accounts receivable, inventory, and accounts payable using days-based drivers. Working capital changes feed directly into the cash flow statement.

Lesson 4 • Cash Flow Statement Construction

Builds the indirect-method cash flow statement from operating, investing, and financing sections. The ending cash balance links back to the balance sheet to confirm the model balances.

Lesson 1 • Data Tables for Sensitivity Analysis

Builds one-variable and two-variable data tables to show output ranges across key drivers. Translates model outputs into decision-ready sensitivity grids.

Lesson 2 • Goal Seek and Solver Applications

Applies Goal Seek and Solver to back-solve for required inputs given a target output. Useful for break-even analysis and constraint-based optimization.

Lesson 3 • Tornado Charts and Waterfall Charts

Creates tornado and waterfall charts to visualize driver impact and value bridges. Communicates sensitivity findings clearly to non-technical audiences.

Lesson 1 • Comparable Company Analysis

Constructs a trading comps table using EV/EBITDA, P/E, and revenue multiples. Benchmarks the subject company against peers to derive a market-implied value range.

Lesson 2 • Football Field Valuation Summary

Combines DCF, trading comps, and transaction comps into a football field chart. Presents a consolidated valuation range for stakeholder communication.

Lesson 3 • Discounted Cash Flow Model

Builds a DCF from free cash flow projections, WACC, and terminal value. Outputs an intrinsic value estimate linked directly to the three-statement model.

Lesson 1 • Dynamic Arrays and Spill Functions

Uses FILTER, SORT, UNIQUE, and SEQUENCE to create dynamic output ranges. Reduces manual updates and enables self-refreshing summary tables.

Lesson 2 • Macros and Automation Basics

Records and edits simple macros to automate repetitive model tasks. Introduces VBA concepts without requiring full programming knowledge.

Lesson 3 • PivotTables for Financial Summaries

Builds PivotTables from model output data to create flexible summary views. Enables rapid slicing of financial data without altering the core model.

Lesson 4 • Interactive Dashboard Design

Combines charts, slicers, and form controls into a single executive dashboard sheet. Gives stakeholders a self-service view of key model outputs.