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KPMG Executive Education

Modeling & Projecting Financial Statements

Nov 21—22, 2019
2 days
New York, New York, United States
USD 1795
USD 897 per day

How it works


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Financial statements can deliver a ton of insights, if you know how to uncover them.

This two-day workshop helps professionals in valuation, corporate finance, planning and budgeting, investment banking, asset management, fixed income research, and equity research weave business and financial forecasts into spreadsheet-based projections of financial statements. These projections help professionals value a business, test future scenarios, and gain an integrated view of a business.

The workshop will also discuss tools and techniques to make participants more efficient and effective in developing models and analyzing information.


You MUST BRING A LAPTOP with Excel 2010 or above to the session to build models.

The following Excel topics will be covered in the "Optimizing Accounting & Finance with Advanced Excel" seminar. Please consider taking the one-day Excel seminar that precedes this course. Modeling & Projecting Financial Statements assumes that you have mastery of Excel skills covered in that course, which include:

  • Commonly used Excel shortcuts
  • Excel Data Tables (different from Pivot tables)
  • Excel Styles; Custom Formatting, Data Validation, Data Grouping
  • Iterations and circular references

Knowledge of Excel VBA is NOT required.

A good knowledge of accounting topics such as indirect cash flows, leases, taxes, and options


  • Introduction to modeling and design: Components of a financial statement model; Skills needed for modeling; Excel overview; Design choices
  • Efficient modeling and best practices
  • Building blocks of models and step-wise development: Enterprise activities

    • Forecasting EBITDA by forecasting sales and operating expenses
    • Forecasting working capital requirements for future business activity
    • Forecasting capital expenditures, PP&E, and depreciation
    • Non-current operating assets and liabilities: Modeling multi-period effects: When revenues are collected over multiple periods, or expenses are incurred over multiple periods
    • Forecasting reserves and allowances
    • Modeling current and deferred taxes
  • Building blocks: Financing activities

    • Understanding and forecasting enterprise free cash flows: Contrasting three approaches to measurement of free cash flows: cash-flow budgeting, equity valuation, and credit risk analysis
    • Forecasting funding needs and interest expense
    • Ensuring that the firm meets its debt-to-equity ratio constraints or debt-to-EBITDA constraints
    • Meeting seasonal funding needs via revolving line of credit
  • Overview of integrated models and their drivers

  • Valuation

    • Cost of capital and risk
    • Growth and terminal values


Dan is the founder of Almaris Consulting and Training. He brings in 25 years of extensive experience in consulting and training in accounting, financial statement analysis, business drivers, modeling. valuation, and credit risk analysis. He has worked with over numerous corporations, investment b...


Detailed Description
Detailed Description

Next dates

Nov 21—22, 2019
2 days
New York, New York, United States
USD 1795
USD 897 per day

How it works

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