Prepare for the Level 1 “Advanced Financial Modeler” (AFM) certification exam with this intensive, two-day prep course from FMI approved training provider, Plum Solutions
This two-day course is very hands-on and practical and each participant will be expected to create their own financial model. During the course, participants will use the Excel tools and techniques learned as well as financial modelling best practice to build an interactive and dynamic financial model that adheres to the highest industry standards.
The Financial Modelling Institute (FMI) Certifications are an internationally recognised credential for advanced Microsoft Excel, financial analysis and financial modelling skills.
Attending this training course should form the final part of your preparation for this exam. Candidates are expected to devote between 25 and 100 hours to preparation in total and attendees should already be familiar with the FMI Body of Knowledge and the skills checklist prior to attending this course.
Public courses are run in a computer laboratory with workstations provided. Participants may bring their own laptops if they prefer. The course is demonstrated using Microsoft Excel 2016, but participants can use Excel 2007, 2010 or 2013 if they prefer. Course materials contain instructions for different versions, and Excel 2011 for Mac users are also catered for. Those who would like to use a Mac are most welcome to bring their own laptops.
This course builds on students’ knowledge of Excel formulas and incorporates these into a fully integrated financial model. At each step during the course, participants build and practice each formula, tool and technique.
Body of Knowledge
- Financial Modelling Best Practice
- Excel Skills
- Accounting Foundations
- Financial Modelling Foundations
Model Planning, Setup and Assumptions
- Layout & design
- Inputs and assumptions
- Designing for scenario analysis
Building a Revenue Schedule
- Determining revenue drivers
- Calculating price and volume
Operating Costs and Depreciation Expense
- Separating fixed and variable costs
- Driving variable costs from revenue
- Building the depreciation schedule waterfall
Income Tax Expense and Working Capital
- Calculating income tax on pre-tax earnings
- Create working capital accounts
- Linking change in working capital to the cash flow statement
Debt, Interest and Shareholders’ Equity
- Creating the debt schedule
- Linking debts and interest to the financial statements
- Adding dividends and shares to the balance sheet
- Piecing together the components of the financial statements
- Dealing with circularity
- Balancing the balance sheet
Summary Page, Formatting, Presentation and Speed
- Creating an automated summary page
- Formatting and presentation
Model Troubleshooting, Fixing Errors and Avoiding Pitfalls
- Auditing a model
- Error prevention
Who this course is for
This course is suitable for those who wish to earn the Level 1 AFM Certification from the Financial Modeling Institute (FMI). This exam is held twice a year and for more information on the certification, see www.fminstitute.com/afm The AFM program is open to anyone who has an interest in or currently works in the financial markets. From finance students to seasoned industry professionals, the AFM designation is ideal for those who:
- Understand the fundamentals and methodologies of financial modelling
- Want to hone and validate their skills
- Work as part of a larger team to provide support for improvement or new projects
- Work extensively with Excel in their day-to-day work to make material financial decisions
The FMI exams are held in April and October in various locations around the world and you must independently register for this exam directly with the institute. It is not a requirement before undertaking this course that you are registered for, or sit this exam. This course will prepare you for the FMI exam but your attendance will in no way guarantee your exam results.