Financial Modeler's Corner

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 LearnThe 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 LagoFollow Carolina:LinkedIn - https://www.linkedin.com/in/s-carolinalago?originalSubdomain=chWebsite - carolinalago.comCourse Tactic On-Demand: https://tacticfinancial.com/financial-model-for-you/newsletter:  https://pages.tacticfinancial.com/thetacticalroomFollow Paul: Website - https://www.thefpandaguy.com   LinkedIn - https://www.linkedin.com/in/thefpandaguyYouTube - https://www.youtube.com/@thefpandaguyFollow 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=7079020077076905984Sign 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

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 LearnThe 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 AcamporaFollow Jon:LinkedIn - https://www.linkedin.com/in/jonacampora/YouTube - https://www.youtube.com/user/ExcelCampusWebsite - https://www.excelcampus.com/Follow Paul: Website - https://www.thefpandaguy.com   LinkedIn - https://www.linkedin.com/in/thefpandaguyYouTube - https://www.youtube.com/@thefpandaguyFollow 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=7079020077076905984Sign 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

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 LearnCommon 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 BlazsikFollow Drew:LinkedIn - https://www.linkedin.com/in/drewblazsik/YouTube - https://www.youtube.com/drewblazsikFollow Paul: Website - https://www.thefpandaguy.com   LinkedIn - https://www.linkedin.com/in/thefpandaguyYouTube - https://www.youtube.com/@thefpandaguyFollow 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=7079020077076905984Sign 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

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 LearnHow Alyona’s audit background influenced the creation of a finance platform for startupsWhy first-time founders struggle with financial modeling and how second-time founders differThe complexity behind manufacturing and fashion business models and modeling nuancesThe importance of simplified dashboards focusing on key metrics for decision-makingWhy communication and storytelling in financial modeling is essential for impactHere 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 MyskoFirst-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 MyskoFollow 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/thefpandaguyYouTube - https://www.youtube.com/@thefpandaguyFollow 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=7079020077076905984Sign 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

Scott Powell, co-founder of the Corporate Finance Institute, shares his 25 years of expertise in financial modeling. He dives into common pitfalls, emphasizing the dangers of overcomplication and legacy models. Scott advocates for a balance between technical precision and stakeholder usability, highlighting empathetic teaching as crucial to effective financial training. Listeners gain insights into essential Excel techniques, the importance of clear documentation, and the value of continuous learning to enhance financial modeling skills. Expect practical tips and inspiration!

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 GrigorianNarek’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/@thefpandaguyFollow 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=7079020077076905984Sign 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

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 PearlLauren 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-listFollow Paul: Website - https://www.thefpandaguy.com   LinkedIn - https://www.linkedin.com/in/thefpandaguy  YouTube - https://www.youtube.com/@thefpandaguyFollow 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=7079020077076905984Sign 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 

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 pitfallsThe importance of understanding the context and objectives behind a modelTips for inheriting and improving existing financial modelsThe benefits of continuous learning, both professionally and personallyInsights 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 ZlobinaIn 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/@thefpandaguyFollow 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=7079020077076905984Sign 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

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 volatilityHow FMI is earning global recognition from top firmsThe impact of adding financial modeling to the CFA programInsights from FMI’s expansion into China and IndiaThree principles for building a successful businessA 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 SchnoorIan 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=caWebsite - https://fminstitute.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=7079020077076905984Sign 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

Join Arta Ramaj, co-founder of 360 Finance, as she shares her unusual journey from geography to finance consultancy. She emphasizes the importance of solid foundations in financial modeling, revealing how adaptability and self-belief are crucial for entrepreneurs. Arta discusses viewing finance as a growth partner rather than a mere reporting function. Listeners will learn about the combination of technical and soft skills necessary for building investor-ready models, along with practical tips for applying these skills effectively in real-world scenarios.