Financial Modeler's Corner

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Brian Jones to explore how Excel is evolving in the era of AI and large language models. They discuss how Copilot, agent mode, and AI-driven capabilities are transforming the way users build, analyse, and improve spreadsheets. Brian shares insights into how Excel is becoming more like a developer tool and how AI can automate repetitive tasks while enhancing productivity for both beginners and advanced users.Brian Jones is the Vice President of Microsoft Excel, Forms, and Office Platforms. He has been with Microsoft since 1999, working across multiple productivity products, including Word, Office Forms, and developer extensibility tools. In his current role, Brian leads a global team responsible for Excel and related platforms, driving innovation and integrating AI capabilities like Copilot and agent mode into the product ecosystem.Expect to LearnWhat “agent mode” means and how it enables automation in spreadsheetsHow AI can help analyse, fix errors, and improve financial modelsWhy Excel still requires strong logic and formula knowledgeHow different AI models impact outputs and workflows in Excel EdgeHere are a few quotes from the episode:“Excel really is like a developer tool. When you're writing formulas, you're essentially coding.” – Brian Jones“It’s not just about building from scratch, it’s about improving what you already have.” – Brian JonesExcel is evolving into a more intelligent and interactive platform where AI acts as a powerful assistant rather than a replacement. From fixing broken references to building dashboards and automating workflows, tools like Copilot and agent mode are helping users work faster and smarterFollow Brian:LinkedIn: https://www.linkedin.com/in/brijones/Website: https://learn.microsoft.com/en-us/archive/blogs/brian_jones/Follow Financial Modeler's Corner: LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/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:[00:51] – Introducing Brian Jones[02:50] – Returning to the Excel Team[04:05] – AI & the Future of Excel[06:38] – Customer Questions About Copilot[10:22] – Agent Mode Explained[11:41] – Modeling the community about the Excel agent[13:14] – AI Models & Output Differences[17:16] – Final Thoughts

In this episode of The ModSquad, Ian Bennett, Partner at PwC, joins Paul Barnhurst, Giles Male, and Ian Schnoor to discuss the rapid changes happening in financial modeling with the rise of AI. The team explores how AI tools like Claude are revolutionizing the industry, the critical role of strong modeling skills, and the ongoing importance of trust in financial modeling. They also touch on the future of Excel in the age of AI and how professionals can adapt to stay ahead in this rapidly changing landscape.Ian Bennett is a Partner at PwC, leading Deals Modeling in Australia and globally. With over 25 years of experience, Ian has built and reviewed complex models for transactions, infrastructure, finance transformations, and BAU forecasting across Australia and the UK. Ian is a founding member of the Financial Modeling Institute's (FMI) Advisory Council and a member of FMI's Financial Modeling Global Leaders Council. He is also the lead author of PwC’s Global Financial Modeling Guidelines.Expect to LearnHow AI tools like Claude are reshaping the financial modeling process.The crucial role of human oversight and strong modeling skills, even with advanced AI.Why AI in financial modeling is seen as an augmentation tool rather than a replacement.How the role of financial modelers is evolving in the age of AI and automation.What the future holds for Excel, and how AI integration is transforming it.Here are a few quotes from the episode:“We all trade in trust. Whether you use AI or not, it’s your name behind it. That’s the most valuable thing in our profession.” - Ian Bennett“Financial modeling is so much more than just building a calculator in a spreadsheet. It’s a profession, it’s a discipline, it’s a career.” - Ian BennettClaude and other AI tools are significantly enhancing the way financial modeling is done, but as Ian Bennett highlights, trust and deep foundational knowledge remain critical. The future of financial modeling isn’t about AI replacing human modelers; it’s about how professionals can use AI to work smarter, faster, and more accurately.Follow Ian:LinkedIn - https://www.linkedin.com/in/ianschnoor/Follow Giles:LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/Follow Ian Bennett:LinkedIn - https://www.linkedin.com/in/ianrbennett/Website - https://www.pwc.com.au/deals/modelling.htmlIn today’s episode: [02:10] – Introducing Ian Bennett[07:00] – Testing Claude in Excel[10:10] – Focusing Beyond the Build Phase[14:00] – How AI is Enhancing Modeling Phases[17:30] – The Importance of Reviewing AI-Generated Models[19:45] – Trusting AI: Augmentation vs. Replacement[25:00] – Rethinking the Role of Financial Modelers[30:00] – The Future of Excel and AI Agent Mode[33:00] – Reinventing the Financial Modeling Profession[36:00] – The Future of Excel in the AI Era[39:30] – Final Thoughts

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Brian Jones, Vice-President: Microsoft Excel, Forms, Office Platforms, to discuss how Excel is evolving in the era of AI and large language models. They explore how Copilot, agent mode, and AI-driven features are reshaping how professionals build, analyse, and improve spreadsheets. Brian also shares insights into how AI can assist financial modelers, automate tedious spreadsheet tasks, and help users understand complex workbooks faster.Brian Jones is the Vice-President: Microsoft Excel, Forms. He has worked at Microsoft since 1999 across several productivity platforms, including Word, Office Forms, and developer extensibility tools. In his current role, Brian leads the Excel product team as they integrate AI capabilities like Copilot and agent mode to expand what users can accomplish inside spreadsheets.Expect to LearnHow AI and Copilot are changing the Excel user experienceWhat “agent mode” means for automating spreadsheet tasksHow AI can help analyse and improve financial modelsWhy Excel still requires strong modeling and formula knowledgeHow skill sheets and templates can guide AI inside workbooksHere are a few quotes from the episode:“Excel really is like a developer tool. When you're writing formulas, you're essentially coding.” – Brian Jones“One of the strengths of Excel is that the work is visible. You can see the formulas, the logic, and how the result was produced.” – Brian JonesBrian explains how AI is transforming Excel from a traditional spreadsheet tool into a more collaborative environment where users can interact with their data through conversation. Copilot can analyse spreadsheets, suggest formulas, correct errors, and even rebuild broken references automatically.Follow Brian:LinkedIn: https://www.linkedin.com/in/brijones/Website: https://learn.microsoft.com/en-us/archive/blogs/brian_jones/Follow Financial Modeler's Corner: LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/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:[02:53] – Brian’s Background at Microsoft[03:09] – Returning to the Excel Team[04:24] – The Rise of AI and LLMs in Excel[07:08] – Customer Questions About Copilot[10:39] – AI Rollouts and Product Updates[12:03] – How modelers Are Using Excel AI[17:52] – What Skill Sheets Are and Why They Matter[23:07] – Power Query and Excel Programming Languages[30:51] – Do We Still Need to Learn Formulas[36:07] – Getting the Most Out of Copilot[38:40] – Favorite Excel Shortcut and Functions[41:31] – Where to Follow Brian

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Amber Johnson to discuss forecasting, financial modeling, and how operational decisions impact financial outcomes. They explore the connection between logistics forecasting and financial forecasting, the importance of tracking forecast accuracy and bias, and how small operational issues can create large financial impacts. Amber also shares lessons from her experience working with data, forecasting demand, and helping businesses improve their systems and decision-making.Amber Johnson is a fractional industrial engineer and the founder of Peachy Profitability, where she helps teams work smarter through process improvement, data storytelling, and automation. She began her career as a “beer psychic,” forecasting demand at Anheuser-Busch, and has since built logistics networks, optimized warehouse flows, and guided businesses through transformational change. Amber is also the creator of Office Hours with Amber, a weekly livestream that encourages continuous improvement with curiosity and confidence.Expect to LearnHow logistics forecasting connects to financial forecastingWhy forecast accuracy and bias matter in decision-makingHow operational drivers influence financial resultsWays finance, sales, and logistics teams can align betterHow Excel and data analysis support forecasting and planningHere are a few quotes from the episode:“Sometimes the smallest operational issue becomes the biggest financial problem later.” – Amber Johnson“Good forecasting isn’t about being perfect, it’s about learning and adjusting.” – Amber JohnsonAmber Johnson shared practical insights on forecasting, operational drivers, and financial modeling. She highlighted how understanding logistics and operational data can improve financial decisions and help businesses plan more effectively.Follow Amber:LinkedIn: https://www.linkedin.com/in/ambernjohnsonwmu/Website: https://peachyprofitability.com/Follow Financial Modeler's Corner: LinkedIn Page - https://www.linkedin.com/company/financial-modeler-s-corner/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:[02:23] – Amber’s Background[08:21] – Founding Peachy Profitability[10:38] – Learning Excel and Forecasting[15:37] – Logistics vs Financial Forecasting[18:59] – Forecast Accuracy and Bias[23:59] – Finance vs Logistics Perspectives[31:41] – Aligning Teams Around Goals[36:07] – Favourite Excel Shortcuts[37:46] – Rapid Fire: modeling Opinions[44:39] – Where to Find Amber

In this episode of Financial Modeler's Corner, host Paul Barnhurst chats with Nick Boberg, a financial modeler and consultant based in Hamilton, New Zealand. Paul and Nick explore the essentials of building well-structured, effective financial models. They discuss Nick’s approach to simplicity and consistency, the importance of clarity in model design, and the role of competition in refining one’s Excel and modeling skills. Nick is a financial modeler and the co-founder of Boberg Advisory, a consultancy that specializes in providing financial modeling services to SMEs. With extensive experience as Finance Director at Anglesea Hospital and Associate Director at PwC, Nick has built and reviewed hundreds of models, many focused on cash flow forecasting, budgeting, and management reporting. He is also an accomplished competitor in the Financial Modeling World Cup and the Microsoft Excel World Championships, where he has achieved finalist and semifinalist placements.Expect to LearnWhy structure and consistency are key in financial modelingThe role of simplicity in building modelsInsights from Nick’s competitive modeling careerHow to balance technical expertise with user-friendly designHere are a few quotes from the episode:"The beauty of financial modeling lies in its simplicity. If you can make a model both functional and easy to follow, you've mastered it." - Nick Boberg"Consistency in formatting is key. A model that looks clean and well-structured builds trust with the user, especially when it's used for important decision-making." - Nick BobergNick shares that the core of building great financial models lies in structure and simplicity. He emphasizes the importance of creating models that are not only accurate but also easy to follow and understand. Whether in competition or in client work, Nick highlights that clear, well-structured models make a real difference in their effectiveness and usability.Follow Nick:LinkedIn: https://www.linkedin.com/in/nickboberg/Company: https://www.linkedin.com/company/boberg-advisory/Follow Financial Modeler's Corner: LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/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: [03:30] – Worst Modeling Experience[08:08] – Running Boberg Advisory[12:11] – Competing in Excel Championships[17:42] – Importance of Structure[20:00] – Risks of Complex Formulas[23:20] – Avoiding Hard Codes[27:13] – Building "Pretty" Models[30:10] – Dynamic Arrays in modeling[36:05] – Rapid fire Section[40:54] – Last Question & Wrap up

In this episode of The ModSquad, Paul Barnhurst, Ian Schnoor, and Giles Male put Claude 4.6 to the test on real financial modeling accreditation cases. From three-statement forecasts to complex debt sculpting scenarios, the team examines just how far AI tools have come. The results are impressive, but not flawless. The discussion explores what this leap forward means for finance professionals and whether modeling is truly entering a new AI-assisted era.Ian Schnoor is Executive Director of the Financial Modeling Institute (FMI), the global accreditation body for financial modeling professionals. He brings extensive experience in modeling, training, and industry standards. Giles Male is Co-Founder of Full Stack Modeller and a two-time Microsoft MVP. He specializes in Excel, financial modeling systems, and practical AI implementation.Expect to LearnHow Claude 4.6 performs on real financial modeling accreditation casesWhere AI tools still make subtle but significant modeling errorsThe difference between automation and augmentation in AI usageWhy strong modeling fundamentals remain essentialPractical ways to begin integrating AI into your modeling workflowHere are a few quotes from the episode:“I’m not even doing this from a testing perspective now. I’m just using it because it’s adding so much value.” – Giles Male“Modeling is just as much about the process as it is about the end result.” – Ian SchnoorClaude 4.6 marks a significant step forward in AI-assisted financial modeling, handling complex builds faster than ever before. However, subtle errors still highlight the need for strong technical knowledge and human oversight. The future of modeling isn’t replacement, it’s skilled professionals using AI to work smarter and deliver greater value.Follow Ian:LinkedIn - https://www.linkedin.com/in/ianschnoor/Follow Giles Male:LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/In today’s episode:[04:06] – Testing Claude[11:14] – Augmentation vs. Automation in Modeling[18:14] – The Value of Documentation in Modeling[28:43] – Debt Modeling with AI[33:20] – Transition from Manual to AI-Enhanced Modeling[38:16] – Testing with New Tools[41:24] – Debt and Equity Modeling with AI[46:45] – Claude's Progress & Areas for Improvement[57:33] – Final Thoughts

In this episode of Financial Modeler's Corner, host Paul Barnhurst is joined by Chris Reilly, founder of Financial Modeling Education, for an insightful discussion on the importance of mastering financial modeling fundamentals in the age of AI. Chris shares his perspective on how AI is transforming the modeling industry, why understanding the basics is more important than ever, and how dynamic arrays are changing the modeling landscape.Chris Reilly is a financial modeling expert with over 91,000 students trained globally. He has a diverse background, having worked in private equity and FP&A, and has developed a range of training programs through Wall Street Prep, Wharton, LinkedIn Learning, and his own courses. Chris emphasizes that strong foundational knowledge in finance and accounting is crucial to leveraging AI and new technologies effectively.Expect to LearnWhy mastering the fundamentals of financial modeling is essential in an AI-driven worldHow Chris integrates AI tools to enhance his modeling workThe role of dynamic arrays in streamlining financial modelsThe balance between technical skills and business decision-makingInsights on why complex models aren't always betterHere are a few quotes from the episode:“AI is a magnifier. If you know what you're doing, it helps you get more done. If not, it makes problems worse.” - Chris Reilly“The real goal of any model is to help the business understand what to do next, not just to show off technical skills.” - Chris ReillyChris highlights how AI can help with dynamic arrays and improve model efficiency, but stresses that it should never replace the need for a strong understanding of financial fundamentals. His focus is on helping modelers leverage the right technology without bypassing essential knowledge.Follow Chris:LinkedIn: https://www.linkedin.com/in/chris-reilly-mission-capital/Homepage: https://www.financialmodelingeducation.com/Email list: https://financialmodelingeducator.com/Follow Financial Modeler's Corner: LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/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:[02:06] - Why Fundamentals Matter in AI Modeling[03:29] - Chris's Focus on Education & Clients[04:44] - How AI Amplifies Strengths & Weaknesses[05:39] - Dynamic Arrays: Excel's Game-Changer[07:09] - Should Dynamic Arrays Be Taught?[09:47] - Combining Functions for Efficient Models[12:01] - Struggles with New Excel Features[13:18] - Technical vs. Business-Focused Models[14:59] - The Joy of Mastering Balanced Models[15:44] - Closing & Chris' Educational Resources

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes back Chris Reilly for a deep and practical conversation on financial modeling fundamentals in the age of AI. Chris shares why mastering the basics still matters more than ever, how AI is changing modeling workflows in reality (not hype), and where automation genuinely adds value versus where human judgment is still essential.Chris Reilly is a former private equity professional and financial modeling expert with experience spanning restructuring, FP&A, treasury, and middle market private equity. He began his career at FTI Consulting during the financial crisis, working on major bankruptcies, including Lehman Brothers, before moving to Hilton Worldwide and later into private equity. Chris is the founder of Financial Modeling Education, where he has trained more than 90,000 professionals worldwide, teaching real-life models used to acquire and manage private equity-backed businesses.Expect to LearnWhy financial modeling fundamentals matter more than ever in an AI-driven worldHow Chris actually uses AI in real client models versus online hypeWhy simple, well-built models outperform overly complex onesHow to balance technical modeling skills with business decision-makingHere are a few quotes from the episode:“AI is a great accelerator if you already understand the fundamentals. If you don’t, it just magnifies the problem.” - Chris Reilly“There’s a missing middle right now where people are skipping the fundamentals and jumping straight to the results.” - Chris ReillyChris emphasizes that while AI and automation can improve efficiency, they do not replace the need for strong accounting knowledge, modeling fundamentals, and business understanding. He explains that the best modelers focus less on tools and functions and more on clarity, reliability, and helping decision makers understand what to do next.Follow Chris:LinkedIn: https://www.linkedin.com/in/chris-reilly-mission-capital/Homepage: https://www.financialmodelingeducation.com/Email list: https://financialmodelingeducator.com/Follow Financial Modeler's Corner: LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/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: [02:35] - Fundamentals Before AI[05:55] - From PE to Teaching[09:17] - Dynamic Arrays in Practice[13:25] - Limits of Dynamic Models[18:09] - Modeling vs Technical Debate[21:04] - AI Hype vs Reality[26:45] - Avoiding Bad Models[33:00] - Advice for Modelers[35:38] - Future of AI in Excel[38:02] - Closing Thoughts

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Luke Phillips, Senior Business Analyst at Access Analytic. Luke shares how he transitioned from Division I basketball to financial modeling, and how he helps clients solve complex budgeting and reporting problems using Solver, Excel, and Power BI.Luke Phillips is a chartered financial modeler and the Senior Business Analyst at Access Analytic. He works with clients across mining, oil and gas, manufacturing, and professional services to streamline budgeting and reporting through Solver and Excel. Luke holds a BBA in Finance from the University of Louisiana at Monroe, where he also played Division I basketball.Expect to LearnHow a bad college project helped kickstart Luke’s modeling careerWhat Solver is and how it supports complex planning and reportingTips for simplifying models without losing valueThe role of communication in building useful modelsLuke’s take on AI and dynamic arrays in ExcelHere are a few quotes from the episode:“We're not hiring you for your technical ability, we're hiring you for your potential.” – Luke“I love spreadsheets, the way you can pull complex calculations together and form a view of a company.” – LukeLuke Phillips brings a grounded, real-world perspective to financial modeling, shaped by both professional experience and athletic discipline. His approach blends technical skill with a clear focus on communication and usability. Whether solving client challenges with Solver or exploring new Excel features, Luke keeps modeling practical and purpose-driven.Follow Luke:LinkedIn: https://www.linkedin.com/in/luke-phillips-75859013a/Company: https://www.linkedin.com/company/access-analytic/Follow Financial Modeler's Corner: LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/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:[02:09] - Life in Australia & Background[03:16] - First Model Mistake & Lesson[04:46] - From Basketball to Finance[08:49] - What is Solver & Luke’s Role[10:33] - Learning Supply Chain & Ops[13:11] - Simplicity vs. Complexity[18:24] - AFM & CFM Exam Journey[22:46] - XLOOKUP Over INDEX MATCH[27:46] - AI in modeling & Challenges

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Karishma Ramnawaj, a financial modeler based in Mauritius, to talk about her journey in financial modelling, building and reviewing models, and the lessons she’s learned from both success and failure. Karishma shares her experience of learning on the job, why understanding the end user is critical, and how she balances practical standards with flexibility.Karishma is a Certified Advanced Financial Modeler (AFM) and FMVA® professional, currently working as a Financial Modeler Associate at Hawkins Eberdal Ltd in Mauritius. With a strong foundation in both project and corporate finance, Karishma specializes in building decision-ready financial models that support capital raising, risk evaluation, and business growth.Expect to LearnWhy using someone else’s model as a template can be riskyThe importance of understanding and communicating key assumptionsHow to tailor models for investors and third-party usersWhat it’s like to fail, and then pass, the AFM examThe value of applying both corporate and project finance in modellingHere are a few quotes from the episode:“If you're going to use someone else's model, make sure you understand everything inside it.” – Karishma“It's not just about Excel. It's about who's using the model and what story you're telling with it.” – KarishmaKarishma's story is a great example of growth through practice, persistence, and passion for financial modeling. Her focus on clarity, flexibility, and end-user needs brings valuable perspective to the modelling process. From overcoming early challenges to passing the AFM exam, she shows the importance of continuous improvement.Follow Karishma:LinkedIn: https://www.linkedin.com/in/karishma-ramnawaj/Follow Financial Modeler's Corner: LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/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:[01:56] - Guest Intro[04:51] - Journey into Modelling[06:00] - Why She Loves Modelling[08:37] - Storytelling with Numbers[10:56] - Key Assumptions & End Users[13:00] - Project vs. Corporate Finance[14:26] - Renewable Energy Focus[15:44] - Modelling Standards & Reviews[22:16] - AFM Exam: Fail to Pass[29:18] - Tools, Tips & Final Advice

In this episode of The ModSquad, hosts Paul Barnhurst, Ian Schnoor, and Giles Male welcome Tim Jacks, founder of Taglo, for an insightful discussion on the integration of AI in financial modeling. Tim’s expertise bridges the worlds of financial modeling and AI, and in this episode, he shares his journey and discusses how AI is reshaping the financial modeling landscape.Tim Jacks is the founder of Taglo, a company dedicated to improving financial modeling with AI technology. His career journey spans financial consulting and software development, including building financial modeling tools. Over time, Tim's interest in artificial intelligence grew, and he delved into how AI, particularly Large Language Models (LLMs), could be used to enhance financial modeling processes.Expect to LearnHow AI is revolutionizing financial modeling and the specific ways it’s being used today.The technical components behind AI agents and how they differ from simple chatbots.The importance of context and system prompts when working with LLMs in financial tasks.Insights into the memory limitations of LLMs and how agents work around this challenge.Here are a few quotes from the episode:"If you're using AI for Excel modeling, you need to remind it to follow good financial modeling principles, like the FAST Standard." – Tim Jacks"The beauty of LLMs is that you can go back and change the conversation, they're stateless, so it's like resetting the clock." – Tim JacksTim Jacks provided valuable insights into the integration of AI in financial modeling, particularly how LLMs and agents are transforming workflows. While AI can significantly enhance efficiency, human expertise remains essential for applying financial modeling principles. Understanding the technical workings of these tools helps users leverage them effectively. The future of financial modeling will be human-led, AI-assisted.Follow Tim:LinkedIn: https://www.linkedin.com/in/timjacks/Follow Ian:LinkedIn - https://www.linkedin.com/in/ianschnoor/Follow Giles Male:LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/In today’s episode:[00:05] - Intro & Hosts[01:33] - Guest Introduction: Tim Jacks[02:42] - Tim's Background in Modelling & AI[04:16] - What Are LLMs Really?[09:55] - ChatGPT vs. LLMs Explained[12:09] - LLMs Have No Memory[15:02] - How Tools Add Context to AI[19:35] - What Is an AI Agent?[22:35] - How Excel Agents Work[30:08] - Demo: Tools in Action[35:03] - Defining an Agent: LLM + Tools + Prompts[38:49] - Key Takeaway for Modellers

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Carolina Lago, a seasoned FP&A professional, to discuss how financial modelers can transform data into actionable insights while avoiding common modeling pitfalls. Together, they explore best practices in financial modeling, the dangers of hard-coded models, and why structure, flexibility, and clear purpose are essential for effective decision-making. Carolina also shares lessons from her international career, including her experience supporting a major IPO and leading global software implementations.Carolina Lago is an FP&A professional with over 15 years of international experience across multiple industries. She has played key roles in high-impact projects, including IPO preparation and enterprise-wide financial system implementations. Carolina is also the creator of the TACTIC framework, which helps financial professionals build models that are structured, insightful, and decision-focused.Expect to LearnWhy hard-coded models are a major risk to accuracy and flexibilityHow to turn raw data into insights that drive real business decisionsThe importance of starting every model with a clear question or goalHow the TACTIC framework improves structure and clarity in modelingWhy strong modeling skills matter at every career stageHere are a few quotes from the episode:“I inherited one, and I had to try to change it. I spent probably a couple of weeks trying to make it better, and I couldn't. It was just too full of hardcoded numbers and no design at all.” – Carolina Lago“Data is only useful if it can be transformed into actionable insights.” – Carolina LagoFollow Carolina:LinkedIn – https://www.linkedin.com/in/s-carolinalago/Website – https://www.tacticfinancial.comIn today’s episode:[00:00] - Trailer[00:50] - Guest Introduction[01:00] - Horrifying Financial Models[02:00] - Early Career Modeling Mistakes[03:10] - Carolina’s Global Career Journey[05:00] - Turning Data into Actionable Insights[07:30] - Introduction to the TACTIC Framework[09:50] - Learning Resources & Community Engagement[20:00] - Certifications and Continuing Education[22:40] - Rapid-Fire Round[24:50] - Advice for Aspiring Financial Modelers[26:00] - How to Connect and Learn More

In this special episode of Financial Modeler’s Corner, host Paul Barnhurst recaps an exciting 2025 and outlines what's ahead for 2026. Paul reflects on the top five most downloaded episodes of the year, shares insights from key guests, and highlights major developments in financial modeling, including Excel's newest features and the growing role of AI.Expect to LearnKey trends in Excel and financial modeling from 2025How AI is changing the way models are built, tested, and auditedThe importance of simplicity, documentation, and user involvement in model designWhy communication and business understanding are becoming essential skills for modelersHere are a few quotes from the episode:“Complexity can backfire by making you indispensable in ways that hurt your career growth.” – Paul Barnhurst“AI is a magnifier, it makes good modelers better and highlights weaknesses in those without a solid foundation.” – Paul BarnhurstIn today’s episode:[02:01] – Mod Squad Launch[03:02] – AI and Modeling[03:45] – Excel Feature Highlights[06:28] – Excel Championship Recap[10:12] – AI in Financial Modeling[12:54] – Time-Saving Modeling Tips[16:02] – Three-Statement Modeling[17:38] – Strategic Thinking for Modelers[20:30] – Final Thoughts and Certification Offer

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Ian Bennett, Partner and Deals Modelling Leader at PwC Australia, to discuss the art and science of financial modeling. Together, they explore what makes a good financial modeler, how Excel has evolved dramatically in recent years, and how emerging tools and AI are shaping the future of modeling. Ian reflects on his decades-long career, from his early days discovering Excel during audits to leading a large team of modelers across Australia and India. Ian Bennett is the Deals Modelling Partner at PwC Australia and a Master Financial Modeler (MFM) certified by the Financial Modeling Institute. With 24 years of hands-on experience in building and leading modeling teams, Ian’s approach combines deep technical expertise with a strong focus on communication, design, and problem-solving. He leads a 50-person modeling team at PwC and is known for his passionate advocacy for best practices, new tools, and innovation in modeling, including integrating AI and the latest features in Excel.Expect to LearnWhy defining a model’s purpose upfront is essential to successThe most important listening and scoping skills great modelers must developHow Excel’s evolution over the past 18 months is changing the gameWhat it means to be model-first vs. outcome-focusedWhy curiosity and human insight are irreplaceable, even in the age of AIHere are a few quotes from the episode:“Every model tells a story, and that story should be known at the start of the project. It’s about understanding what questions the model needs to answer.” – Ian Bennett“Be curious. That curiosity is what drives innovation in modelling, learning new tools, asking better questions, and solving real problems.” – Ian BennettFollow Ian:LinkedIn - https://www.linkedin.com/in/ianrbennett/Website - https://www.pwc.com.au/deals/modelling.htmlIn today’s episode: [00:00] - Trailer [01:09] - Introduction to Ian Bennett [02:13] - Worst Model Ian Has Seen [06:17] - Ian’s Background & Early Interest in Excel [08:19] - Becoming a Master Financial Modeller (MFM) [09:43] - Global Excel Summit Highlights [11:53] - What Makes a Great Financial Modeller [16:38] - Importance of Listening & Understanding Client Needs [23:03] - Time Allocation: Design vs. Building in Excel [28:14] - Modelling Tools Beyond Excel [31:34] - Excel’s Evolution & Exciting New Features [39:08] - Rapid Fire Questions [41:50] - Will AI Build Financial Models? [47:12] - Final Advice for Aspiring Modellers

In this episode of The ModSquad, hosts Paul Barnhurst, Ian Schnoor, and Giles Male are joined by Tea Kuseva, Community Manager at the Financial Modeling Institute, for a detailed discussion on the state of AI tools in financial modeling. The group continues its hands-on testing of seven tools, including TabAI, Excel Agent, Shortcut, and TrufflePig, evaluating how these platforms perform on real-world financial modeling tasksTea Kuseva is the Community Manager at the Financial Modeling Institute (FMI), the only global accreditation body dedicated to financial modeling. With her deep involvement in the modeling community and her role supporting professionals worldwide, Tea Kuseva brings thoughtful questions and provides structure to the discussion, helping translate technical insights into practical takeaways for finance professionals.Expect to LearnHow leading AI tools perform on real financial modeling tasksCommon issues like unbalanced sheets and flawed formulasKey differences between Excel-based and standalone toolsPractical ways AI can assist with analysis and reportingWhy Excel and modeling expertise still matter in an AI-driven workflowHere are a few quotes from the episode:“Even five years from now, you’ll still need to understand every cell if you're handing in a model.” – Ian Schnoor“Fast, consistent outputs are still better achieved by experienced humans than by today’s AI tools.” – Giles MaleAI tools show promise in assisting with financial modeling, but they are not yet reliable enough to replace human expertise. Strong Excel skills and sound judgment remain essential. Used wisely, AI can enhance productivity, but it should complement, not replace, technical understanding. The future of modeling is human-led, AI-assisted.Follow Ian:LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=caFollow Giles Male:LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/Follow Tea:LinkedIn: https://www.linkedin.com/in/tkuseva/In today’s episode:[01:16] - Guest Intro[06:07] - Tools Under the Microscope[07:59] - The Testing Framework[13:43] - Lessons from the Esports Challenges[19:33] - Real Examples from the Tools[25:54] - Practical Use Cases for AI Today[33:56] - Variability in AI Outputs[39:40] - Looking Ahead: The Next Five Years[44:58] - Final Comments[46:13] - Final Thoughts and Key Takeaways

In this episode of The Mod Squad, hosts Paul Barnhurst, Ian Schnoor, and Giles Male continue their hands-on testing of AI tools for financial modeling. This time, they put Subset, an AI-powered spreadsheet tool still in beta, through its paces. The hosts explore whether Subset can realistically handle core financial modeling tasks, including importing Excel files, building three-statement models, and applying basic accounting logic. Along the way, they uncover significant limitations, bugs, and logical errors that highlight the risks of relying on unsupported or immature tools.Expect to LearnWhat Subset promises to do and how it performs in real-world testingThe challenges of importing Excel files into non-Excel environmentsWhy basic accounting logic still breaks many AI modeling toolsThe risks of using outdated or unsupported AI tools found onlineWhat it would actually take for professionals to move away from ExcelHere are a few quotes from the episode:“There’s no AI on the planet that should tell you gross profit is revenue plus costs.” – Ian Schnoor“It’s clever, but massively flawed and unreliable in lots of areas right now.” – Giles MaleSubset shows ambition in trying to act as a full AI spreadsheet, but the testing reveals serious issues, from incorrect formulas to flawed financial logic and unstable performance. While the tool demonstrates how far AI experimentation has come, it also serves as a cautionary example of why finance professionals must validate outputs and maintain strong technical foundations. Follow Ian:LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=caFollow Giles Male:LinkedIn -  https://www.linkedin.com/in/giles-male-30643b15/In today’s episode: [02:40] – Welcome back to The Mod Squad[05:04] – Introducing Subset and its promises[08:38] – Importing Excel files into Subset[11:27] – Errors, bugs, and beta limitations[13:50] – Building a three-statement model from scratch[19:25] – A Basic Revenue Reality Check[22:37] – Why Excel Is Hard to Replace[27:10] – Lessons learned from testing multiple tools[30:01] – Why Structured Data Matters

In this episode of The Mod Squad, hosts Paul Barnhurst, Ian Schnoor, and Giles Male continue their exploration of tools for financial modeling. This time, they test Melder, a tool designed to streamline financial modeling tasks in Excel. The hosts evaluate how it handles various financial exercises, such as creating formulas and generating a deferred revenue schedule. While the tool shows promise, the hosts identify areas where Melder has room to improve, particularly with bugs and user experience quirks. This episode also highlights the challenges of using tools still in beta.Expect to LearnA detailed review of Melder’s features for Excel-based financial modeling.How Melder compares to other tools previously tested by the team.Challenges faced when using Melder for tasks like building formulas and financial schedules.The pros and cons of using Melder, especially when it comes to its unique features and limitations.Insights into tools’ development process, especially when still in beta.Here are a few quotes from the episode:"I appreciate the confidence behind the bold statements, but at the end of the day, tools need to make sure they’re doing the job correctly." – Ian Schnoor"When tools go wrong, it’s not just about fixing the error; it’s about understanding what went wrong so we can avoid future issues." – Giles MaleMelder offers some useful features for financial modeling, such as custom formulas and file handling, but it still faces challenges like data overwriting and slow performance. While it shows potential, especially in automating tasks, it needs further refinement to become a reliable tool for complex financial tasks. As it continues to evolve, we look forward to seeing how it improves and addresses these issues.Follow Ian:LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=caFollow Giles Male:LinkedIn -  https://www.linkedin.com/in/giles-male-30643b15/In today’s episode: [00:31] - What is Melder?[03:30] - Melder’s Website and Features[08:40] - Testing Melder on Financial Modeling Tasks[12:00] - Exploring Melder’s Formula Creation Capabilities[14:30] - Overview of the LLM Model and Google Gemini Models[19:43] - Testing the Trial Balance and Tool's Thought Process[24:08] - Understanding Overengineered Formulas[32:05] - Testing the PVM Use Case and Encountering Errors[41:51] - Final Thoughts and Melder’s Future Potential

In this episode of Financial Modeler’s Corner, hosts Paul Barnhurst and Ian Schnoor continue their exploration of AI tools for financial modeling. This time, they test Trufflepig, a tool designed to help financial analysts automate spreadsheet tasks while still allowing them to focus on the insights. The hosts test Trufflepig on various financial modeling tasks, discussing its performance and how it compares to other tools they've used. They cover tasks such as building a DCF model for Nvidia, generating executive summaries, and creating a financial forecast. While Trufflepig performs well in some areas, there are still challenges that need to be addressed, particularly with certain financial concepts like working capital and net income.Expect to LearnA review of Trufflepig, an AI-powered spreadsheet tool.How Trufflepig performs on real-world financial tasks.The benefits and limitations of AI tools in financial modeling.Insights into how Trufflepig compares with other financial modeling tools.Here are a few quotes from the episode:“The biggest advantage of using Trufflepig is that it helps you with the repetitive tasks, so you can focus on higher-level analysis.” - Ian Schnoor“Trufflepig is an interesting tool, but as with any new software, there’s a learning curve. But if it delivers value, it’s worth it.” - Ian SchnoorTrufflepig is a promising tool for financial professionals, particularly those looking to automate repetitive spreadsheet tasks. While it performs well on basic tasks like building DCF models and creating executive summaries, there are areas for improvement, especially around financial concepts like working capital and the handling of complex formulas.Follow Ian:LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=caTrufflepig: https://Trufflepig.ai/In today’s episode: [01:40] – Review of Previously Tested AI Tools[05:15] – Trufflepig’s Positioning and Messaging[12:00] – Trufflepig Attempts the eSports Modeling Case[22:00] – Challenges with TEXTSPLIT and Modern Excel Functions[30:50] – Executive Summary Generation[40:01] – Data Sourcing and Web Pulling Behavior[49:26] – Reasons for DCF and Market Price Differences[59:45] – Exporting to Excel and Formatting Issues[1:12:26] – Final Review and Closing Thoughts

In this episode of The ModSquad on Financial Modeler’s Corner, Giles Male and Ian Schnoor put Elkar to the test, a financial modeling tool that's been getting attention for its speed and slick design. From solving structured Excel challenges to building full forecast models, they push the tool to its limits. What follows is a revealing look at how Elkar performs when accuracy, logic, and professional modeling standards are on the line. Along the way, they uncover surprising strengths, critical flaws, and even moments of unexpected comedy. Whether you’re curious about automation or cautious about AI in finance, this episode offers plenty to think about.Expect to LearnWhat Elkar gets right: speed, formatting, and a sleek interfaceWhere it breaks down: logic errors, disconnected assumptions, and unreliable outputsHow Elkar stacks up against other AI tools like TabAI and AgentWhy using AI without understanding modeling fundamentals can be dangerousWhat it takes to turn a promising AI output into a reliable financial modelHere are a few quotes from the episode:"Right now, Elkar is like a junior analyst, you see potential, but you can't let them run unsupervised." - Giles Male"AI tools like this might build something that looks like a model, but without logic, it’s a house of cards." - Ian SchnoorIn this episode, Elkar proves to be a fast and visually polished AI tool with clear potential, especially in formatting and task execution speed. However, when it comes to financial logic, assumption structuring, and balance sheet integrity, it consistently misses the mark. The tool even resorts to shortcuts like hardcoding values and plugging imbalances. Follow Giles Male:LinkedIn -  https://www.linkedin.com/in/giles-male-30643b15/Follow Ian:LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=caElkar: https://elkar.coIn today’s episode: [06:48] - Exploring Elkar: Website, Pricing, and Features[10:34] - Elkar Takes on the Esports Excel Challenge[20:14] - Elkar Gets Caught Cheating[24:18] - Elkar Struggles with Complex Logic[35:45] - Cash Flow Logic & Balance Sheet Errors[46:38] - From Hardcoding to Dynamic Assumptions[53:45] - Balance Sheet Plugging and Logical Failure[57:34] - Reviewing Elkar’s Working Capital Assumptions[1:04:20] - Wrap up & Final Thoughts

In this episode of The ModSquad on Financial Modeler’s Corner, Paul Barnhurst and Giles Male put Shortcut under the AI microscope, testing one of the most hyped AI tools in the financial modeling world. With claims like “the most accurate Excel agent in the world” and the ability to outperform human champions in modeling tasks, Shortcut has made a big splash, but does it live up to its own bold promises? Paul and Giles run it through a rigorous series of real-world modeling challenges, from esports cases and financial forecasts to dashboard analysis and deferred revenue schedules. What they find is a tool with clear potential, and some serious red flags.Expect to LearnWhere Shortcut impresses with formatting, speed, and usabilityWhere it fails, especially with modeling logic How Shortcut compares to Excel Agent and TabAI across key modeling tasksWhy reversing formatting in a model is a huge red flagWhat to consider when investing in premium AI tools for modelingHere are a few quotes from the episode:“Shortcut has potential, but right now it’s flash over fundamentals.” - Giles Male“Could you imagine an analyst reversing formatting to make a number look negative? They’d be out the door.” - Giles MaleDespite the hype, Shortcut proved to be a solid tool with promise. It delivered impressive formatting and UI, yet had some serious issues like incorrect logic, hardcoded values, and non-balancing models, which held it back. A promising AI assistant, just not a replacement for real modeling expertise.Follow Giles Male:LinkedIn -  https://www.linkedin.com/in/giles-male-30643b15/In today’s episode: [01:15] - Intro & Where the AI Modeling Journey Stands[05:11] - Shortcut: First Impressions & Bold Claims[14:28] - Viral Demo Video Breakdown[23:12] - Esports Challenge: Basic Excel Tasks[31:19] - Intermediate Case: Modeling Accuracy[36:10] - Building a 3-Statement Forecast[44:24] - Red Flags: Formatting & Balance Sheet Errors[50:27] - Deferred Revenue Test[56:32] - Trial Balance Dashboard: Visuals vs. Substance[1:07:22] - Final Thoughts & Shortcut's Ranking

In this episode of The Mod Squad on Financial Modeler’s Corner, Paul Barnhurst, Ian Schnoor, and Giles Male take a close look at TabAI, a tool designed to simplify and speed up Excel tasks using automation and intelligent suggestions. With more tools dropping out of the market and Excel’s own Agent feature gaining ground, the question is simple: Does TabAI offer something worth switching to? From cleaning data and building dashboards to attempting a full five-year forecast, the team puts TabAI through a series of real-world modeling challenges to see what it gets right and where it still falls short.Expect to LearnWhere TabAI shines in helping analysts and where it needs improvement.How does it compare to Excel Agent in terms of speed, usability, and accuracy?Why finance pros still need to understand what’s going on under the hood.What to watch for when relying on tools that promise “done-for-you” modeling.Here are a few quotes from the episode:“Agent was faster, but TabAI handled more advanced stuff better.” - Ian Schnoor“AI is great at building things fast, but one small mistake can make the whole model unusable.” - Giles MaleTabAI turned out to be one of the more impressive tools we’ve tested so far, especially when it comes to everyday Excel tasks and building dashboards. It’s not perfect, especially with full-scale models, but it’s definitely a step in the right direction. For now, it’s a great helper, but you’ll still need your own modeling skills to get the job done right.Follow Ian Schnoor:LinkedIn -  https://www.linkedin.com/in/ianschnoor/Follow Giles Male:LinkedIn -  https://www.linkedin.com/in/giles-male-30643b15/In today’s episode: [02:28] - TabAI Leaves Retail[05:17] - Competing with Excel Agent[06:50] - TabAI Feature Overview[10:30] - The “Iron Man Suit” Claim[14:28] - eSports Case Test[23:12] - Dancing Fur Coat Model[29:14] - Trial Balance Dashboard[33:56] - Deferred Revenue Test[38:36] - Full Forecast Model Build[51:10] - Final Thoughts

In Episode 5 of The ModSquad on Financial Modeler’s Corner, Paul Barnhurst, Ian Schnoor, and Giles Male take a hard look at the changing landscape of financial modeling in the wake of Microsoft’s release of Excel Agent. Since launching at the end of September to coincide with Excel’s 40th birthday, Excel Agent has quickly changed the competitive dynamics for AI-powered modeling tools. The team explores the implications: how Excel Agent’s capabilities compare to other tools, why third-party platforms are shutting down, and what all this means for the future of work in modeling-heavy industries like investment banking.Expect to LearnWhy Excel Agent is pushing competing modeling tools like Rosie AI out of the market.What makes Excel Agent a “magnifier” of both modeling skill and error.How fast AI is evolving inside Excel and what that means for modelers today.Why AI won’t reduce hours in finance, despite speeding up modeling work.What OpenAI’s Project Mercury reveals about the next phase of automation in investment banking.Here are a few quotes from the episode:“You can't hit a prompt, go get a coffee, and expect a working model.” – Giles Male“If you don’t understand what the AI just built, you’re in trouble.” – Ian SchnoorThis episode makes it clear: AI is not a replacement for skill; it’s a multiplier. Excel Agent may be setting the new standard, but success still comes down to human understanding, judgment, and accountability. As the modeling world evolves rapidly, professionals who stay informed and upskill will thrive. The Mod Squad isn’t slowing down either; more tool reviews and sharp conversations are coming.Follow Ian Schnoor:LinkedIn -  https://www.linkedin.com/in/ianschnoor/Follow Giles Male:LinkedIn -  https://www.linkedin.com/in/giles-male-30643b15/In today’s episode: [05:29] - AI Tools Recap[07:26] - AI Hype and Hidden Risks[10:23] - AI as a Skill Magnifier[13:48] - Microsoft’s Impact on AI Startups[16:15] - Rapid Evolution of Excel AI[21:29] - OpenAI’s Role in Financial Modeling[29:17] - Understanding Assumptions and Calculations[31:53] - Final Thought

In this episode of The ModSquad on Financial Modeler's Corner, Paul Barnhurst, Ian Schnoor, and Giles Male explore Microsoft’s newly released Excel Agent, a beta tool designed to bring AI into Excel Online. The team compares its performance to Rosie AI, running both through a range of tasks, including formula building, audit reviews, and a full five-year model forecast. Along the way, they test the tools against real modeling challenges like the Excel Esports case and a creative custom case, "The Humble MVP." This isn’t just about flashy tech. It’s a deeper conversation on where AI can help, where it falls short, and why core financial modeling skills still matter.Expect to LearnWhat happened when Excel Agent tried to build a full five-year forecast model.Why solid modeling skills still beat "one-click" AI hype.Where AI tools succeed, and fail, in reviewing formulas and detecting issues.Why you should never fully trust AI without understanding what it’s doing.Here are a few quotes from the episode:“Building a model is like flying a plane; you don’t want a rookie in charge when something breaks.” - Ian Schnoor“You can’t hit a prompt, go get a coffee, and expect a working model.” - Giles MaleFollow Ian Schnoor:LinkedIn -  https://www.linkedin.com/in/ianschnoor/Follow Giles Male:LinkedIn -  https://www.linkedin.com/in/giles-male-30643b15/In today’s episode: [02:21] - What is an Excel Agent and why does it matter?[05:37] - Sharpen Your Modeling Skills[06:51] - Modeling Requires Human Judgment[09:27] - Esports Case: Rosie AI vs Excel Agent Test[19:39] - Excel Agent Hangs in Beta Mode[25:26] - Testing PVM in the Smoothie Business Case[30:01] - Ian Takes Over: Testing Excel Agent on AFM Model[44:11] - Building a five-year forecast model from scratch[55:19] - Adding a revolver to the model[01:00:12] - Why the balance sheet doesn’t balance[01:03:46] - Final thoughts and takeaways

Note: This episode was recorded and scheduled for release before the recent announcement that Rosie AI is shutting down.In this episode of the ModSquad series on Financial Modeler’s Corner, host Paul Barnhurst is joined by modeling experts Ian Schnoor and Giles Male to evaluate Rosie AI, a new tool that integrates with both Excel and Google Sheets. Together, they test its capabilities in building financial models, solving complex FP&A tasks, and performing real-world use cases. They push Rosie through a series of tests, from basic formula creation to building full three-statement models, and discuss where it excels, where it needs improvement, and its potential future in the world of financial modeling.Expect to LearnHow Rosie AI performs in real-world financial modeling tasksThe strengths and weaknesses of Rosie in building models and formulasKey insights into how AI tools are evolving in financial modelingThe importance of knowing how to validate AI-generated modelsHow Rosie compares with other AI tools and traditional financial modeling techniquesHere are a few quotes from the episode:“AI can’t replace the need for modelers to understand the logic, but it can help speed up certain tasks.” - Giles Male“If you know what you’re doing, these tools can save you time. If you don’t, you need to double-check everything.” - Ian SchnoorFollow Ian Schnoor:LinkedIn -  https://www.linkedin.com/in/ianschnoor/Follow Giles Male:LinkedIn -  https://www.linkedin.com/in/giles-male-30643b15/Rosie AI: https://www.askrosie.ai/In today’s episode: [02:23] - Excel Turns 40[07:29] - Microsoft’s AI Agent vs. Modeling Tools[16:18] - Exploring Rosie’s Website and Features[25:35] - Real-World FP&A Test: Trial Balance Summary[35:53] - Deferred Revenue Schedule Test[50:54] - Detecting Inconsistent Formulas in Financial Models[01:00:53] - Testing Rosie AI on a Five-Year Forecast Model Build[01:08:31] - Final Thoughts: Where AI Helps and Where It Doesn’t

Disclaimer: This episode is best experienced in video format. Since we’re testing new tools like Tracelight, the visuals add valuable context and make everything much clearer. We highly recommend watching the video for the full experience.In this episode of the ModSquad series on Financial Modelers’ Corner, host Paul Barnhurst is joined by modeling experts Ian Schnoor and Giles Male to evaluate Tracelight, a new Excel-based modeling tool. Together, they explore how well it performs across real-world use cases in FP&A, Excel eSports, and corporate finance. From auditing balance sheets to solving Excel battle cases and building five-year forecast models, the ModSquad puts Tracelight through a comprehensive test to assess what it gets right, what it gets wrong, and where it still needs improvement.Expect to LearnHow Tracelight performs across different financial modeling scenariosThe impact of LLM selection and prompt design on tool outputWhere Tracelight excels, and where it falls short, in building models and running checksHow Excel eSports challenges expose strengths and weaknesses in formula logicWhen these tools can save time, and when they create more workHere are a few quotes from the episode:"If you don't know your stuff, you're going to learn the wrong things; or worse, think it's right when it’s not." - Giles Male"The best Excel modellers aren’t the fastest, they’re the most thoughtful."-  Ian Schnoor Follow Ian Schnoor:LinkedIn -  https://www.linkedin.com/in/ianschnoor/Follow Giles Male:LinkedIn -  https://www.linkedin.com/in/giles-male-30643b15/Tracelight: https://tracelight.ai/In today’s episode: [02:22] - Tracelight Overview & Positioning[09:46] - Giles vs. Excel eSports Battle Case[18:00] - Reviewing Tracelight’s Logic and Output[28:04] - Advanced Test: Championship-Level Modeling[33:59] - AI Tools and the Learning Curve[41:49] - Deferred Revenue Schedule Test[56:26] - Why Doesn’t the Balance Sheet Balance?[1:02:21] - Fixing Balance Sheet Errors Using Cloud Opus[1:316:00] - Episode Wrap-Up and Final Thoughts

In this special launch episode of The Mod Squad, host Paul Barnhurst is joined by co-hosts Giles Male and Ian Schnoor to explore the evolving intersection of artificial intelligence and financial modeling. Together, they introduce a new podcast series, The ModSquad, designed to test AI tools built for financial modelers, FP&A professionals, and analysts. The trio shares their excitement, cautious optimism, and the pressing questions they hope to answer through hands-on experimentation with cutting-edge tools that promise to transform the modeling landscape. Paul, Giles, and Ian bring decades of combined experience across FP&A, corporate finance, Excel training, and financial modeling accreditation. This introductory episode sets the tone for a candid, unscripted, and deeply analytical journey into the practical realities of AI in finance.Expect to LearnWhy AI won't replace financial modelers, but will transform the way they workHow AI tools are being developed to serve finance professionals specificallyThe importance of judgment, communication, and scoping in effective modelingWhat The Mod Squad plans to test: from three-statement models to Excel esportsHow to prepare your career for the AI revolution in modelingHere are a few quotes from the episode:“Just because it looks cool doesn’t mean it gives you a finished product.” - Giles Male“Modeling is just as much the journey as it is the destination.” - Ian SchnoorFollow Ian Schnoor:LinkedIn -  https://www.linkedin.com/in/ianschnoor/Follow Giles Male:LinkedIn -  https://www.linkedin.com/in/giles-male-30643b15/In today’s episode: [01:21] - Introduction of the Episode[04:57] - Why This Series? Helping Modelers Cut Through the AI Noise  [09:14] - Fear & Job Security: Will AI Replace Financial Modelers?  [14:14]- The Human Element in Modeling: Judgment, Communication, Scoping  [21:03] - Series Format: Tools We’ll Test & Why  [26:03] - Testing Assignments: Who’s Doing What?  [29:03] - FP&A Use Cases Paul Will Explore  [35:21] - What to Expect: Raw Prompts, Real Results  [36:52] - Closing: Why This Series Matters & How You Can Engage

In this episode of Financial Modeler’s Corner, host Paul Barnhurst speaks with financial modeling expert Scott Strachan about the role of financial models in business planning and decision-making. Scott shares lessons from over 30 years of experience in accounting, consulting, private equity, and corporate finance. The discussion covers the importance of modeling for startups, the problems with annual models, the risks of overrelying on EBITDA, and how the FMI certification has helped him stay sharp in a changing industry. Scott Strachan is a Chartered Accountant and Chartered Financial Modeler who has worked across the UK, the Arabian Gulf, and now serves clients in Qatar and London. He has built and reviewed complex financial models for deals worth hundreds of millions of dollars, and now contributes to the Financial Modeling Institute as a content developer and exam writer. Scott is known for applying practical thinking to modeling and helping bridge the gap between theory and real-world execution.Expect to LearnWhy annual models are often inappropriate for startups and small businessesThe difference between one-time-use models and those built for regular updatesHow poor modeling leads to funding gaps and business failureWhy EBITDA can be misleading in deal evaluationHow preparing for the CFM exam can improve your modeling skillsHere are a few quotes from the episode:“A model is just an appendix to a business plan. If you don’t understand your market or product, no model will save you.” - Scott Strachan“EBITDA is a fantasy land metric. It ignores reality and tells you what you want to hear, not what you need to know.” - Scott Strachan“Every business fails because of bad management, and that often starts with not modeling your cash needs properly.” - Scott StrachanFollow Scott:LinkedIn - https://www.linkedin.com/in/scott-strachan-ca-a795851a4/?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_appFollow 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: [01:20] - Scott’s Background & Career in Modeling[06:26] - Why Annual Models Often Fall Short[09:11] - Why Startups Need Monthly Models[13:54] - Working Capital Mistakes in Startups[17:59] - Disposable vs. Ongoing Models[26:37] - Thoughts on EBITDA and Adjusted EBITDA[33:31] - Why Models Don’t Replace Business Fundamentals[40:25] - Excel Shortcuts and Modeling Habits[42:43] - Rapid Fire: Modeling Preferences[45:58] - Final Advice & How to Reach Scott

In this episode of Financial Modeler’s Corner, Host Paul Barnhurst sits down with David Stangeland, a finance professor at the University of Manitoba, to talk about teaching financial modeling, how students learn best, and the tools that have changed over the years, from PV tables to Excel. David shares what he's learned from more than 30 years in the classroom, why planning is so important in modeling, and how he uses real money investing through a student-managed fund to teach hands-on skills. He also talks about the value of the FMI curriculum, the role of judgment in modeling, and why he still learns something new every time he teaches. David has been teaching at the University of Manitoba’s Asper School of Business since 1991. He has a PhD from the University of Alberta and is both a CPA and a CMA. His research focuses on corporate governance and performance and has been published in top finance journals. He’s co-authored two corporate finance textbooks and currently advises the school’s $2.8 million student-managed investment fund.Expect to LearnThe most common mistakes students make when building modelsHow Excel helps students better understand what they're doingWhy structure and layout matter in a financial modelThe importance of combining modeling with real-world contextHow the FMI curriculum is used in teaching valuation and asset managementHere are a few quotes from the episode:“There’s no one right answer in valuation. It’s about making good assumptions and thinking through your logic to build a credible story.” - David Stangeland“Don’t think you know it all. Always be open to learning and improving. That mindset will take you further than any formula.” - David Stangeland“Spreadsheets aren’t going anywhere. Whether it’s Excel or something else, that flexible grid is still the best way to work with data.” - David StangelandFollow David:LinkedIn - https://www.linkedin.com/in/david-stangeland-phd-cpa-cma-b-comm-29773946/?originalSubdomain=caFollow 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: [02:03] - David’s Background[06:36] - Love for Teaching[10:05] - Starting with NPV Tables[13:54] - From Calculators to Excel[22:20] - Teaching with Three-Model Framework[27:54] - Current Projects Outside Teaching[33:19] - Modeling Standards Followed[35:20] - Favorite Lookup Function[37:18] - Advice for Aspiring Modelers

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Vaughan Grandin, Managing Director and Head of Financial Modeling at Teneo. They discuss his experiences building financial models in distressed situations, the importance of empathy in working with clients, and provide examples of complex models, including those from the airline, aircraft leasing, and classic car dealership industries.Vaughan Grandin is the Managing Director and Head of Financial Modeling at Teneo in London. He is a Chartered Accountant with the South African Institute of Chartered Accountants and has more than 20 years of experience in corporate advisory, finance, and restructuring. He leads Teneo’s financial modelling team, which supports clients and other advisory teams by creating reliable models for distressed companies, transactions, and stakeholder analysis.Disclaimer: All examples and stories shared in this video are from Vaughan Grandin’s previous roles and do not reflect his current employer.Expect to LearnWhy empathy matters in financial modelingHow to approach modeling in distressed situationsThe role of entity priority models and circular referencesKey principles for building robust financial modelsLessons from real-world modeling cases across industriesHere are a few quotes from the episode:“Empathy is a word I think about a lot in modeling, especially in distressed situations.” - Vaughan Grandin“A good model should be able to take whatever inputs you give it and actually use them to solve a problem.” - Vaughan Grandin“In distressed situations, time pressure is real; sometimes, a company only has weeks of cash left.” - Vaughan GrandinFollow Vaughan:LinkedIn - https://www.linkedin.com/in/vgrandin/?originalSubdomain=ukCompany - https://www.teneo.com/person/vaughan-grandin/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: [03:22] - Model Horror Stories [06:52] - Empathy in Modeling [07:55] - Inside Teneo’s Team [12:50] - Classic Car Dealership Model [21:16] - Modeling in Distressed Situations [27:56] - Managing Complexity [32:07] - Aircraft Leasing During COVID [40:31] - Six Elements of Robust Modeling [46:51] - Rapid-Fire Excel Q&A [53:45] - Closing Reflections

In this episode of Financial Modeler's Corner, host Paul Barnhurst is joined by Matthew Lee, Co-Founder and CEO of Nummo, a software tool built to help analysts and bankers build financial models more efficiently. Matt explains why he started the company after years in investment banking and as a CFO, and what he sees as the real opportunities and limits of automation in financial modeling. The conversation covers the pressure of dealing with work, common modeling mistakes, and where tools like Nummo can help speed things up without replacing analysts. Matt also shares thoughts on what makes a good model and why hands-on understanding still matters most.Matt is the Co-Founder and CEO of Nummo, an AI co-pilot for financial modeling that he wished he had during his time in finance. Before Nummo, Matt worked as an investment banker at Lazard, helping to execute sell-side and buy-side M&A deals totaling around $6 billion in enterprise value. He also served as CFO at a digital product studio, overseeing financial planning for emerging tech products launched by Fortune 500 firms and early-stage ventures. With over 40,000 hours in Excel, Matt built Nummo to deliver a banker-grade modeling platform that runs fully on-device, maintains cell-level accuracy, and automates workflows like DCFs, LBOs, comps, and fairness opinions.Expect to LearnWhy financial models still need human inputWhere tools like Nummo can improve modeling workflowsWhy version control and hidden hard codes cause major issuesHow to balance automation with accuracy and narrativeWhy it’s critical to never outsource your understanding of a modelHere are a few quotes from the episode:We’re about 30% of the way there. AI can help, but it can’t yet build a fully detailed, nuanced model.” - Matthew Lee“Even with automation, you still need to check for hidden hard codes and make sure your model tells the right narrative.” - Matthew Lee“Formatting, standardization, and QA are where AI is already adding value today.”- Matthew LeeFollow Matthew:LinkedIn - https://www.linkedin.com/in/matthew-m-lee/Company - https://www.nummo.xyz/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: [02:28] - Matt’s background[03:54] - Worst modeling mistakes[06:24] - What Nummo is and how it works[11:10] - Biggest Challenge in M&A Transactions[15:34] - Building models that tell a story[28:23] - How workflows are changing[31:53] - Favourite Excel Shortcut[39:44] - Rapid fire: Excel habits and preferences[45:35] - Final Question & Episode

In this episode of Financial Modeler's Corner, host Paul Barnhurst is joined by Morten Lykke Pedersen, a seasoned financial expert and Partner at Deloitte, where he leads the financial modeling division within the Strategy, Risk, and Transaction Advisory group. Morten discusses his extensive experience in mergers and acquisitions (M&A), strategic financial modeling, and how financial models can empower businesses to make informed, data-driven decisions. He also shares insights on the importance of collaboration during the modeling process, tips for ensuring client engagement, and the role of financial models in presenting a company’s equity story.Morten Lykke Pedersen, CFA, CFM, is a financial expert with over a decade of experience. He specializes in mergers and acquisitions (M&A), providing strategic insights that empower businesses to optimize their strategies through forecasting and risk assessment. Morten's career spans notable roles, including his tenure at PwC, where he managed valuation and modeling services. At Deloitte, Morten is dedicated to guiding businesses through complex transactions and strategic initiatives, helping them navigate industry dynamics and execute transformative transactions successfully. He holds a CFA charter and certifications in financial modeling, and his educational journey includes advanced degrees from Aarhus University, Saint Mary’s University, and the CFA Institute.Expect to LearnThe critical role of collaboration in transaction modelingHow to build financial models that communicate a company’s story and manage riskThe importance of scenario analysis in M&A transactionsWhy financial models should reflect business realities, not just numbersHow formal training programs, like the Chartered Financial Modeler (CFM), can elevate modeling skills and team capabilitiesHere are a few quotes from the episode:“Financial modeling is about understanding the business, not just crunching numbers.” - Morten Lykke Pedersen“A financial model should only do what it’s supposed to do, keep it simple and fit for purpose.” - Morten Lykke Pedersen“It’s not about the formulas; it’s about making sure the people who own the numbers understand what’s going on in the model.” - Morten Lykke PedersenFollow Morten:LinkedIn -  https://www.linkedin.com/in/mortenlykkepedersen/?originalSubdomain=dkCompany - https://www.linkedin.com/company/deloitte/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: [02:16] - Guest Background[03:43] - Worst Model Horror Story[07:58] - Client Engagement[11:52] - Conveying Company Value[13:35] - Supporting Assumptions with Data[21:11] - The CFM Journey with Morten's Team[31:19] - Favorite Excel shortcut.[32:14] - The Number One Career Lesson[33:39] - Rapid-Fire Questions[37:38] - Final Advice

In this episode of Financial Modeler's Corner, host Paul Barnhurst celebrates the 40th anniversary of Microsoft Excel, a tool that has revolutionized the financial modeling industry and many others. Paul explores Excel’s fascinating history, its evolution over four decades, and shares interesting facts, hidden Easter eggs, and fun surprises that Excel enthusiasts will appreciate. From the first graphical interface to modern-day features like dynamic arrays, this episode showcases how Excel has shaped the way we work and how it continues to be an essential tool for financial modelers.Expect to LearnThe fascinating origin story of Excel and its early days on the Mac.Fun facts about Excel’s features, including its secret limitations and quirky surprises.Excel's functionality has evolved over the years to include over 500 functions.Hidden Easter eggs and games that were embedded in older versions of Excel.Creative and unique Excel projects, including games and pixel art, showcase the limitless possibilities within Excel.Here are a few quotes from the episode:"The first version of Excel only had 150 functions, and now we’re up to 516! That’s quite a leap over 40 years." - Paul Barnhurst"Sometimes, the most creative projects come from using Excel in ways you never thought possible, like pixel art or creating a full video game." - Paul Barnhurst"The tool of choice for modelers is Excel, and it has a lot more to offer than meets the eye." - Paul BarnhurstFollow 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: [02:17] - 16 Fun Facts About Excel[08:11] - Excel's Evolution[14:58] - Excel Easter Eggs[16:55] - Excel Jokes to Lighten the Mood[19:13] - Epic Excel Creations: Stunning Art[23:11] - Wrapping Up and Final Thoughts

In this republished episode of the Financial Modeler’s Corner, host Paul Barnhurst revisits the intricate world of financial modeling with returning guest Christopher Reilly. The conversation centers around what is necessary to build robust financial models, highlighting the importance of three-statement models and cash flow forecasting. The episode is filled with practical insights, advanced techniques, and professional experiences that underscore the significance of simplicity, accuracy, and best practices in financial modeling.Christopher Reilly is a seasoned financial modeler with extensive experience in consulting, private equity, and financial modeling education. Starting his career during the financial crisis, Chris worked on high-profile bankruptcies such as Lehman Brothers and Rescap. His journey took him from a senior analyst role at Hilton Worldwide to a middle-market private equity firm, and eventually led to founding his own financial modeling education business. Today, he focuses on teaching and building financial models, with his work being featured by Wharton Online, Wall Street Prep, and LinkedIn Learning, among others.Expect to Learn:The importance of simplicity in financial models and how over-complicating can hinder their effectiveness.Practical steps and considerations for building robust three-statement financial models.Tips for auditing models to ensure accuracy and integrity.How to use advanced Excel functions and shortcuts to enhance modeling efficiency.Insights into the role of AI in financial modeling and how it may shape the future of the profession.Here are a few quotes from the episode:“All models are wrong, some are useful, and if it’s too complicated, it’s not useful.” - Chris Reilly“AI won’t replace modelers, but it will complement us by improving assumption accuracy and reducing bias.” - Chris Reilly“Use the BASE structure: Beginning, Addition, Subtraction, Ending, it’s the easiest way to audit support schedules.” - Chris ReillyFollow Christopher:Website - https://www.financialmodelingeducation.com/LinkedIn - https://www.linkedin.com/in/chris-reilly-mission-capital/  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: [02:13] - Horror Story[03:46] - Why simple models are most effective[04:52] - Christopher’s career journey[08:07] - Passion for teaching financial modeling[11:31] - Why finance pros need 3-statement modeling[14:13] - Getting started with a 3-statement model[26:18] - Setting Up the Financial Plumbing[32:01] - Tips for error checks & model integrity[38:26] - Must-know Excel formulas & functions[46:16] - How AI may shape financial modeling[49:13] - Chris Reilly’s Financial Modeling Courses

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Sarah Schlott, founder of The Schlott Company. Sarah shares her perspective on why financial models often fail, not because of bad math, but because they don’t reflect how real businesses work. She talks about what it takes to earn trust as a finance partner, how to clean up messy data without losing momentum, and the importance of getting the right people involved in the process. Sarah and Paul also dive into how finance teams can shift from reactive number-crunchers to proactive business partners that bring clarity and confidence to decision-making.Sarah Schlott is a strategic finance leader with over 18 years of experience guiding companies through growth, M&A, and operational change. She’s worked across corporate finance, forecasting, budgeting, and reporting infrastructure. Sarah is the founder of The Schlott Company, where she helps founders bring order to financial chaos. Her approach blends classic FP&A with modern tools and a deep understanding of real-world business dynamics. She believes finance should bring clarity, not confusion.Expect to LearnWhy overly complex models usually create more confusion than insightWhat it means to be “battle-tested” as a finance leaderHow to build models that reflect business reality, not just spreadsheetsWhat to do when the data is unreliable or inconsistentWhy involving department heads early leads to better models and better outcomesHere are a few quotes from the episode:"When you’re constantly fighting about the numbers, you’re not ready to present the model." - Sarah Schlott"If the people who own the numbers don’t see themselves in the model, you should probably just chuck it." - Sarah Schlott"Stop being the cop. Be the radio tower that keeps everything aligned."  Sarah SchlottFollow Sarah:LinkedIn - https://www.linkedin.com/in/sarahschlott/Website - http://www.sarahgschlott.com/Company - https://theschlottco.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: [01:53] - Introduction to Sarah Schlott[03:14] - Worst Model Horror Story[07:48] - Founding The Schlott Company[10:19] - Experience Needed to Go Fractional[14:53] - Building Finance That Brings Calm, Not Confusion[17:28] - How to Work with Messy Data[20:58] - Pressure Testing Financial Models[28:04] - Finance as a Radio Tower, Not a Traffic Cop[39:39] - Rapid-Fire: Excel Tools and Modeling Styles[43:37] - Wrapping Up and Final Thoughts

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Nico Christie, co-founder of Fundamental Research Labs and creator of Shortcut, the superhuman Excel agent. Nico shares insights into his fascinating journey, from being a professional athlete to leading groundbreaking AI projects. Together, they explain how AI is revolutionizing financial modeling and making Excel smarter than ever before. Nico also discusses his work at Fundamental Research Labs, where they aim to build digital humans using AI, and the development of Shortcut, which aims to streamline the way we use Excel for financial modeling tasks. Nico Christie is the co-founder of Fundamental Research Labs and the CEO of Shortcut, a cutting-edge AI tool designed to supercharge Excel. Nico’s diverse background spans professional athletics, corporate finance, and AI research. His work at Fundamental Research Labs focuses on building AI that mimics human-like qualities, such as emotional experiences and consciousness. Nico has a passion for both technology and the real-world applications of AI in tools like Excel, making complex tasks faster and more intuitive.Expect to LearnHow Shortcut is revolutionizing Excel for financial modeling with AI.The process behind building digital humans at Fundamental Research Labs.Nico’s journey from professional dunker to AI innovator.How AI tools like Shortcut are transforming the financial modeling landscape.Insights on the future of AI in Excel and the response from companies like Microsoft.Here are a few quotes from the episode:"I just think Excel is the most beautiful design software ever created by humans." - Nico Christie"The goal of the company is to build digital humans, giving AI all of the fundamental human qualities, not just intelligence." - Nico Christie"People who were initially afraid of AI are no longer afraid once they see how it can be used in software engineering." - Nico ChristieFollow Nico:LinkedIn - https://www.linkedin.com/in/nicochristie/Twitter - https://x.com/nicochristie Follow Paul: Website - https://www.thefpandaguy.com LinkedIn - https://www.linkedin.com/in/thefpandaguyYouTube - https://www.youtube.com/@thefpandaguy                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: [02:15] - Introduction to Nico Christie[02:38] - Worst Model Horror Story[06:32] - Upcoming Projects and Exciting Roadblocks[09:14] - The Journey to Dunking[17:21] - The Power of Excel's Top Buttons[20:17] - Reviewing vs. Starting from Scratch[21:38] - Struggles with Formatting in Model Reviews[32:35] - The Impact of AI Tools on the Profession[37:26] - Favorite Excel Shortcut[39:54] - Financial Models as Decision-Making Tools[42:34] - Wrapping Up

In this episode of Financial Modeler's Corner, host Paul Barnhurst sits down with Patrick Daguet, a seasoned finance professional, educator, and structured finance expert for a thoughtful and inspiring conversation about the real-world side of financial modeling. With over four decades in the industry, Patrick shares what he's learned from years of building models, working on massive infrastructure deals, and teaching the next generation of finance professionals. From navigating the challenges of project finance to celebrating those satisfying “balance sheet balances” moments in the classroom, Patrick offers a grounded, practical perspective on how modeling works beyond the spreadsheet.Patrick is the President of Sharklets, a training company specializing in CFA, FRM, and CAIA prep, and a Senior Professor at IÉSEG School of Management. With a background in structured finance, infrastructure projects, and model design, he bridges academic rigor with practical experience. He has helped train thousands of finance professionals across the globe and continues to lead CFM study groups. Patrick’s love for teaching is matched by his real-world expertise, having worked on major infrastructure deals, including France’s national stadium.Expect to LearnWhy financial models should be treated as decision-making tools, not just math.What makes project finance models more complex than corporate ones.The real-world impact of financial models, from runways to stadiums.How teaching has shaped Patrick’s understanding of modeling.Why lifelong curiosity is the key to staying relevant in finance.Here are a few quotes from the episode:“A financial model is a decision tool that incorporates all the information necessary to form your own judgment." - Patrick Daguet"I fell into teaching when people told me I had a talent for explaining the complex clearly." - Patrick Daguet"You are sentenced to lifelong learning when you choose a career in finance." - Patrick DaguetFollow Patrick:LinkedIn - https://www.linkedin.com/in/patrickdaguet/Email - [email protected] 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: [01:59] - Guest Intro: Patrick’s Background[03:34] - Modeling Horror Story[07:28] - Defining a Financial Model[08:46] - Lifelong Learning & Certifications[11:58] - Passion for Project Finance[14:39] - Favorite Project: Stade de France[17:58] - Challenges in Project Finance Models[24:59] - Transition to Teaching[31:30] - CFM Study Groups & Community[37:20] - Excel Tools & Rapid Fire Round[45:12] - Closing Advice & Takeaways

In this episode of Financial Modeler's Corner, host Paul Barnhurst invites "Your Average Finance Bro," for a light-hearted and humorous conversation about financial modeling. The episode takes a comedic spin on the often serious world of finance, diving into the importance of Excel, the art of building memorable models, and even how Excel proficiency can play a role in dating. Expect a mix of fun and insight, with Finance Bro offering his unconventional wisdom about financial modeling, presenting with confidence, and making your work stand out in the finance world.Your Average Finance Bro, is a renowned figure in the financial modeling world. He has built a reputation not just for his financial modeling skills but also for his humorous take on the profession. He's a self-proclaimed founder of Goldman Sachs, inventor of the discounted cash flow model, and someone who has been involved in some of the most memorable (and fictional) moments in finance history. Finance Bro brings a fun and unconventional approach to the world of finance, often blending humor with expert insights.Expect to LearnThe importance of memorability in financial modeling and how it can impact your career.Why Excel continues to dominate financial modeling and how Finance Bro contributed to its popularity.The lighter side of financial modeling, including hilarious pranks and Excel jokes.How to present financial models with confidence, even if the numbers are questionable.The essential skills and mindset needed for financial modelers to stand out, especially in high-pressure situations.Here are a few quotes from the episode:"Memorability is extremely important in financial modeling. If you screw up, people will remember that forever." - Your Average Finance Bro"The ability to present a model is more important than the model itself." - Your Average Finance Bro"If you can't teach someone how to build a model, you’re not teaching them anything at all." - Your Average Finance BroFollow Finance Bro :LinkedIn - https://www.linkedin.com/in/your-average-finance-bro/Instagram - https://www.instagram.com/youraveragefinancebro/?hl=enWebsite - linktr.ee/financebroYouTube - youtube.com/@youraveragefinancebroFollow 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: [02:57] - Guest's Background[04:33] - Becoming a Strong Financial Modeler[06:27] - Defining Financial Modeling[09:20] - What to Do When Your Model Breaks[14:14] - Why Excel Dominates Over Google Sheets[17:46] - Circular References vs. Leg Day[19:28] - Favorite Code Words[24:40] - Favorite Industry to Model[26:07] - Rapid Fire Section[28:38] - Favorite Lookup Function[29:51] - Closing Thoughts

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Dr. Stephen Horan to discuss the fundamentals of financial modeling, the challenges and rewards of teaching finance, and how curiosity and simplicity are central to both education and professional modeling. Dr. Horan draws on his extensive experience as a finance professor and former Managing Director at CFA Institute, offering unique insights into the intersection of academia, practical modeling, and credentialing.Dr. Stephen is a finance professor at UNC Wilmington and former Managing Director at the CFA Institute. He has over 30 years of experience in academia and industry, has authored award-winning research, and co-wrote Strategic Value Investing, featured on Warren Buffett’s reading list. His work bridges theory and practice in finance education. Dr. Horan is also a sought-after speaker and serves on editorial boards for leading finance journals.Expect to LearnWhat makes a model readable and useful and why fundamentals matter.How to teach financial modeling in a way that’s active and practical.The difference between book knowledge and real-world application in finance.Insights into CFA Institute’s evolution toward practical skills and global relevance.The mindset and skills students need to transition from learning to doing.Here are a few quotes from the episode:"Curiosity is the skill I had to learn and it’s the one that’s helped me most in my career." - Stephen Horan"Give someone the experience of building a model and solving problems. That’s the real education." - Stephen Horan"The ability to explain how you built a model is more powerful in an interview than listing courses on a résumé."  Stephen HoranFollow Stephen:LinkedIn - https://www.linkedin.com/in/stephenhoranphd/Twitter - http://twitter.com/StephenHoranCFAFollow 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: [02:07] - Guest Introduction [04:19] - Modeling Horror Story [10:41] - Bridging Theory and Practice [13:31] - Power of Teaching [17:55] - Learning by Modeling [26:23] - CFA Institute Insights [35:07] - Favorite Excel Shortcut [39:36] - Rapid Fire Round [46:02] - Final Thoughts and Contact

In this episode of Financial Modeler’s Corner, host Paul Barnhurst speaks with Janice Shade and Michael Tapia about the intersection of sustainability, financial modeling, and education. They share the behind-the-scenes creation of a unique MBA course focused on sustainable finance and modeling at Bard College. The episode dives into horror stories from the modeling trenches, highlights the challenges of teaching complex topics in an accessible way, and explores the future of financial education and tools.Janice is a systems entrepreneur and finance educator with over 30 years of experience. She has worked with both for-profit and nonprofit ventures, focusing on democratic access to capital and economic justice. Janice is also the author of Moving Mountains and teaches finance at Bard’s MBA in Sustainability program. Michael transitioned from the fitness industry into sustainable finance. With an MBA in Impact Finance from Bard, he co-developed and co-taught a financial modeling course that incorporates ESG data and sustainability into traditional financial analysis. Michael is passionate about inclusive, community-driven investment strategies and financial education.Expect to LearnWhat makes a financial model “fit for purpose”, and why complexity isn’t always better.How financial modeling can support sustainability and social impact.Tips for teaching finance to non-finance students and building curriculum from the ground up.The importance of scenario and sensitivity analysis in forecasting.Practical insights on bridging theory and hands-on financial modeling in academia.Here are a few quotes from the episode:"Finance shouldn't feel mystical or exclusive, our goal is to make it approachable and relevant." - Janice Shade"As a former trainer, I saw how performance metrics drove change. Now I see capital can do the same, if used with purpose." - Michael Tapia"Forecasting is hard, and no forecast is ever right. We're just trying to make it less wrong." - Janice ShadeFollow Janice:LinkedIn - https://www.linkedin.com/in/janice-shade/Website - https://innovatecapital.org/teamFollow Michael:LinkedIn - https://www.linkedin.com/in/michael-tapia-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: [02:29] - Introduction of Janice and Michael[07:20] - Worst Financial Model[14:04] - Defining a Financial Model[15:18] - Story Behind the MBA Modeling Course[22:43] - Janice’s Key Takeaways from First Cohort[29:34] - Michael’s Course and Podcast Episodes[42:45] - Favourite Shortcut in Excel[43:47] - Creative Excel Uses[47:32] - Rapid Fire Section

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

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Scott Powell, co-founder and board member of the Corporate Finance Institute (CFI), to discuss the principles and pitfalls of financial modeling. The conversation centers around how overcomplication, legacy models, and misused functions can undermine even the most polished models, and how thoughtful planning, stakeholder consideration, and service-oriented teaching can significantly enhance modeling effectiveness.Scott Powell brings over 25 years of global experience in corporate finance education and financial modeling. He is a founding member of the Corporate Finance Institute, where he has led the creation of impactful learning tools and courses. Based in Vancouver, Canada, Scott has worked with major financial institutions worldwide and is deeply passionate about practical finance education and the power of financial literacy to transform lives.Expect to Learn:Why financial models often fail and how to avoid those pitfalls.The importance of balancing technical precision with stakeholder usability.How teaching and empathy enhance modeling skills.Key Excel techniques and when to avoid overengineering.Scott’s insights into using AI and advanced Excel tools to stay current.Here are a few quotes from the episode:"Every time you're in Excel, try to learn just one new thing. In a year, you're going to have learned a ton." - Scott Powell"If you open your model three days later and can’t understand what you did, then you made it too complex." - Scott Powell"Don’t start building your model until you understand the end goal and the user’s needs." - Scott PowellScott’s thoughtful and service-driven approach makes this episode a must-listen for anyone in the world of financial modeling. His real-world stories, practical Excel strategies, and emphasis on simplicity offer powerful insights. Whether you’re building your first model or refining your 100th, Scott’s advice will help you level up. A valuable guide for modelers who want to build with purpose and clarity.Follow Scott :LinkedIn - https://www.linkedin.com/in/scott-powell-cpa-fca-fmva-84baa71/overlay/photo/Website - corporatefinanceinstitute.com Company - learningstrategiesgroup.comFollow Paul: Website - https://www.theFP&A ndaguy.com  LinkedIn - https://www.linkedin.com/in/theFP&A ndaguy  YouTube - https://www.youtube.com/@theFP&A ndaguyFollow 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: [01:14] - Welcome and Guest Intro[03:00] - Model Horror Story[10:09] - Founding CFI[14:13] - Memorable Teaching Moments[16:30] - Starting a Model[21:28] - Technical vs. Soft Skills[24:20] - Advice for Trainers[30:23] - Keeping Up with Excel[39:44] - Fun with Excel[41:18] - Rapid Fire Round[47:21] - Final Thoughts and Wrap-Up