Danielle Stein Fairhurst was recently interviewed on a live webinar with The Outperformer, a career management platform on the topic of “Adding Financial Modelling to your Tool kit – a Must for any Accountant“. Financial modelling is now one of the most sought-after skills in the accounting job market but there’s a lot more to being a good financial modeller than just having good Excel skills.
Accountants are required to become more skilled at building financial models to solve real world problems for their clients and stakeholders. Those who don’t are putting a large risk on their career relevance.
Financial modelling is now one of the most sought-after skills in the accounting job market but there’s a lot more to being a good financial modeller than just having good Excel skills. Listen to this interactive session to hear from expert modeller, Danielle Stein Fairhurst who has recently written Financial Modeling in Excel For Dummies to help empower business professionals and accountants to edit, update and build their own informative, enlightening financial models with confidence.
- Understand and simplify the problem that you are trying to solve. Without this deep knowledge of the business, breaking down the problems and the decisions being made, it is difficult to build a model that has value.
- Avoid using “Spaghetti Links” and design your model so that any other user can easily pick up from where you have left off. More on this can be found in Danielle’s book (Click here for more)
- To add financial modelling to your CV, it is more important to highlight the scenarios for which yours models were developed. This highlight both your skill and your ability to practically apply your knowledge to the realities of business.
- Get involved with mentors and modelling groups to learn from. This is practical and efficient, and typically leads to great new relationships as well.
- If you want to test yourself, get involved in the next ModelOff competition to see how your skills compare to the best in this field.
EXAMPLE MODEL USED IN THE WEBINAR
Download the example financial model, click here
Danielle Stein Fairhurst, MBA is the Principal Consultant at Plum Solutions and the author of “Financial Modeling in Excel for Dummies”, May 2017 and “Using Excel for Business Analysis: a Guide to Financial Modelling Fundamentals”, Revised Edition, John Wiley & Sons, April 2015 Danielle is the founder of the Financial Modelling in Excel LinkedIn forum, which has more than 40,000 members worldwide. She also founded Modellers’ Meetup groups with over 5,000 members in seven countries and has been a guest on Excel TV. Watch here.