Modeling & Projecting Financial Statements

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.


  • A laptop with Excel 2010 or above is required to build models.
  • A working knowledge of Excel is required (advanced knowledge of Excel, such as macros, is not needed for this course).
  • A good knowledge of accounting topics such as indirect cash flows, leases, taxes, and options.

11/30-12/1/2017 New York
CPE Credit:
$1,795 **

Venue and Hotel Details


  • 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

Program Details

Prerequisite:  Baseline understanding of U.S. GAAP Accounting
Preparation:  None
Level of Knowledge:  Intermediate
Field of Study:  Finance
Delivery Method:  Group Live, Instructor-Led Course

Course Leader

Dan Gode, Co-founder, Almaris E-Learning Systems.

Course Testimonials

“Excellent instructor and easily one of the best corporate training classes I've attended. I will recommend my entire staff take this course.” - Controller, Large Nursing and Rehabilitation Care Provider

* Discounts cannot be combined and must be applied at time of initial registration.

** Tuition price includes daily breakfast, lunch, and morning and afternoon refreshments.

If you have previously attended this course, you may not be eligible for CPE credits. Please contact KPMG Executive Education to confirm your eligibility.

CFA Institute CE Qualified Activity

As a participant in the CFA Institute Approved-Provider Program, KPMG Learning has determined that this program qualifies for 13.5 credit hours. If you are a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE tracking tool.