In this episode of Financial Modeler’s Corner, host Paul Barnhurst aka The FP&A Guy talks about the electrifying world of Excel Esports at the Financial Modeling World Cup (FMWC) in Las Vegas. This special episode captures the energy and innovation of the event, showcasing interviews with top competitors, including Excel MVPs and data enthusiasts, while exploring how Excel competitions push the boundaries of modeling expertise.

The episode features Josh Aharonoff: Microsoft MVP, "Your CFO Guy," specializing in dynamic financial modeling and consulting. David Fortin: Excel expert, Microsoft MVP, and creator of the World of Warcraft-themed FMWC case study. Jaq Kennedy: UK-based actuarial consultant and Excel enthusiast, sharing personal stories and insights from the event. Amber Johnson: Industrial engineer turned Excel champion, known for her creative modeling approach.

Expect to Learn:

• Insights into the competitive world of the Financial Modeling World Cup and the role of Excel Esports.
• Unique perspectives on the creative use of Excel, from real-world modeling to themed case studies.
• How Excel innovations like Power Query, dynamic arrays, and VBA are transforming data work.
• Personal journeys of Excel enthusiasts and their favorite tips and tools.
• Why participating in competitions like FMWC can rapidly enhance your financial modeling skills.

Here are a few quotes from this episode:

• "I’ve spent 24 years working in Excel, and competing here has tripled my knowledge in just two years." - Jaq Kennedy
• "Competing is less about beating others and more about seeing how much you’ve improved." - Amber Johnson
• "Creating a case with input from Blizzard Entertainment was surreal—it brought my gaming passion into Excel." - David Fortin

The Financial Modeling World Cup is a celebration of creativity, community, and growth. Events like these provide an experience of learning from the best in the field, or simply embracing the love of Excel. 

Follow Josh:

• LinkedIn - https://www.linkedin.com/in/joshaharonoff/
• Website - https://www.yourcfoguy.com/

Follow David:

• LinkedIn - https://www.linkedin.com/in/david-fortin-cpa-816b20b5/
• Website - https://linktr.ee/Piggybankaccountant

Follow Jaq:

• LinkedIn - https://www.linkedin.com/in/jaqkennedy/

Follow Amber:

• LinkedIn - https://www.linkedin.com/in/ambernjohnsonwmu/

Follow Paul: 

• Website - https://www.thefpandaguy.com   
• LinkedIn - https://www.linkedin.com/in/thefpandaguy  
• YouTube - https://www.youtube.com/@thefpaguy8376  

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Sign 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: 

[01:27] - Introduction and Event Overview

[03:39] - Interview with Josh Aharonoff and David Fortin

[10:12] - Horror Stories and Excel Lessons

[12:25] - Excel Preferences

[23:04] - Interview with Jaq Kennedy

[30:14] - Rapid Fire with Jaq

[33:27] - Interview with Amber Johnson

[42:22] - Closing Thoughts and FMWC Invitation

[43:02] - Giles Male's Anthem

This episode takes you to the heart of the Financial Modeling World Cup (FMWC) 2024, hosted at the HyperX Gaming Arena in Las Vegas. Known as the "Excel Esports Championship," this unique event blends competitive financial modeling with the energy of live sports entertainment. From electric arenas to engaging case competitions, discover how Excel enthusiasts and world-class modelers push the boundaries of what's possible in financial modeling.

This episode features an exceptional lineup of guests, including Andrew Grigolyunovich, founder of the Financial Modeling World Cup and a pioneer in turning financial modeling into an esport; Michael Jarman, the 2024 FMWC World Champion known for his innovative modeling techniques and leadership at Operis; Giles Male, a commentator and self-proclaimed “Most Humble MVP”. Klinsmann Langhanz, founder of FMWC Brasil and a passionate advocate for Excel training and community-building; and appearances from Danielle Stein Fairhurst and Jaq Kennedy.

Expect to Learn:

• How the FMWC is transforming financial modeling into an exciting esport.
• Insights from top modelers on preparing for high-pressure competitions.
• The role of networking and community in fostering innovation and growth in the Excel world.
• Practical advice for improving financial modeling skills through competitions.
• Behind-the-scenes from the HyperX Arena, including hilarious moments.

Here are a few quotes from this episode:

• "Financial modeling competitions make you better at work and expand your career horizons." - Andrew Grigolyunovich
• "The FMWC community is about helping each other, not tearing each other down." - Giles Male
• "The unthinkable becomes possible when you network and collaborate." - Klinsmann Langhanz

With the Financial Modeling World Cup 2024, we've seen how Excel has grown from a business tool to the centerpiece of a thriving global community. From the inspiring vision of Andrew Grigolyunovich to the insights of world champion Michael Jarman, this event celebrates the art, science, and camaraderie of financial modeling.

Follow Andrew:

• LinkedIn - https://www.linkedin.com/in/andrewgrig/
• Company - https://fmworldcup.com/

Follow Michael:

• LinkedIn - https://www.linkedin.com/in/michael-jarman-excel/
• Email: [email protected]

Follow Giles:

• LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

Follow Danielle:

• LinkedIn - https://www.linkedin.com/in/daniellesteinfairhurst/

Follow Klinsmann:

LinkedIn - https://www.linkedin.com/in/klinsmann-langhanz/

Follow Paul: 

• Website - https://www.thefpandaguy.com   
• LinkedIn - https://www.linkedin.com/in/thefpandaguy  
• YouTube - https://www.youtube.com/@thefpaguy8376  

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Sign 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:

[00:01:42] - Host Paul Barnhurst sets the stage

[00:03:59] - A recap of the event's atmosphere

[00:07:13] - Interview: Andrew Grigolyunovich

[00:12:14] - Vision for the Future of FMWC

[00:22:54] - Creating FMWC Case Studies

[00:34:13] - Michael Jarman's Journey

[00:49:50] - Commentary with Giles Male

[00:56:22] - Jaq Kennedy and Danielle Stein Fairhurst

[00:58:24] - Interview: Klinsmann Langhanz

[01:08:38] - Closing Thoughts

In this episode of Financial Modelers Corner, host Paul Barnhurst (aka The FP&A Guy) welcomes Charles Keepman, a seasoned financial modeler and valuation expert, to discuss the intricacies of financial modeling, best practices, and common pitfalls. They explore real-world scenarios, discuss the value of creating dynamic models, and delve into the art of valuing companies, focusing on how different industries and stages of business impact modeling strategies.

Charles Keepman has spent years honing his skills in financial modeling, starting at Ernst & Young and later working at Economics Partners (now Ryan Valuation). With deep expertise in business valuation, Charles currently applies his modeling skills to help clients make strategic financial decisions. His career trajectory has been shaped by his passion for creating efficient and dynamic financial models that help businesses make informed, data-driven decisions.

Expect to Learn:

• Key principles for building auditable, easy-to-follow financial models.
• Insights into business valuation: when to use different approaches like DCF, asset, and market-based methods.
• The role of qualitative factors in valuation and how they can drastically influence outcomes.
• The role of Excel and financial modeling software in today’s fast-paced financial world.
• Why simplicity often trumps complexity in financial modeling, and how to strike the right balance.

Here are a few quotes from Charles Keepman:

• "I think AI will have a profound effect on financial modeling, but we need to make sure it’s auditable and understandable."
• "Financial models are great tools, but the true value lies in understanding the assumptions behind them."
• "You can get stuck in analysis paralysis if you overcomplicate your models with too many variables."

From emphasizing the importance of simplicity and clear assumptions to his preference for using tools like XLOOKUP over complex formulas, Charles provides a wealth of practical advice. His perspective on AI in financial modeling highlights the balance between leveraging technology and maintaining human judgment, ensuring that models remain accurate and useful.

Follow Charles:

• LinkedIn - https://www.linkedin.com/in/charles-keepman-58766a40/

Follow Paul: 

• Website - https://www.thefpandaguy.com   
• LinkedIn - https://www.linkedin.com/in/thefpandaguy  
• YouTube - https://www.youtube.com/@thefpaguy8376  

Follow Financial Modeler's Corner  

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Sign 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:

[01:24] - Introduction to Charles Keepman

[02:03] - The "Worst Financial Model" Horror Story

[05:57] - A Rundown of Charles’ Career

[09:04] - The Favorite Part of Financial Modeling

[14:53] - The Most Unique Uses of Excel in Personal Life

[17:26] - Valuing a Company: The First Steps

[21:43] - The Most Unique Business Models

[23:41] - Excel vs. Deal Work

[27:03] - The Simplicity vs. Complexity Debate

[32:49] - Excel's Evolution: Favorite Features

[36:20] - Rapid Fire Segment

[45:27] - Final Advice and Closing

In this special debate episode, host Paul Barnhurst aka The FP&A Guy is joined by an all-star panel of modeling experts to tackle some of the most contentious questions in the financial modeling world. This lively discussion promises insights, entertainment, and plenty of surprises as the panelists bring their expertise and humor to the table. Together, they bring decades of experience, fresh perspectives, and a shared passion for the art and science of financial modeling.

The powerhouse panel of financial modeling experts include: Derek Baker, FP&A professional and co-founder of the FP&A Hub; Lance Rubin, CEO of Model Citizen and Chief Excel Officer at Excel Cloud; Diarmuid "Dim" Early, founder of Early Days Consulting; Craig Hatmaker, retired founder of Beyond Excel and advocate for modern modeling techniques; Dr. David Brown, finance professor at the University of Arizona and founder of the Microsoft Excel Collegiate Challenge; Danielle Stein Fairhurst, Sydney-based financial modeling trainer, author, and Microsoft MVP; Ian Bennett, leader of PwC's global financial modeling practice and Master Financial Modeler; and Craig Thompson, former investment banker now innovating in software at Aleph.

Expect to Learn:

• Why financial models are (or aren’t) the ultimate decision-making tool for businesses.
• The role of Excel in the future: is it here to stay, or will it be replaced by emerging technologies?
• Power BI, Power Query, and Python in financial modeling—are they worth learning?
• Controversial techniques: the debate on circular references and dynamic arrays.
• Whether AI will eventually replace human modelers—and how soon.

Here are a few quotes from the episode:

• "Excel’s modern tools, like Power Query and lambdas, are setting the stage for AI to change how we build models." - Lance Rubin
• "AI can process data, but it lacks the creativity and business acumen needed for financial modeling." - Danielle Stein Fairhurst
• "Excel is the foundation of the financial system, and its adaptability ensures it will last for years to come." - Dr. David Brown

From the future of Excel to the role of AI, the importance of financial statements, and the tools that modelers should master, this episode explored the evolving landscape of financial modeling.

Follow Derek:

• LinkedIn - https://www.linkedin.com/in/derek-d-baker/

Follow Lance:

• LinkedIn - https://www.linkedin.com/in/financial-modelling/

Follow Diarmuid:

• LinkedIn - https://www.linkedin.com/in/diarmuidearly/

Follow Craig H:

• LinkedIn - https://www.linkedin.com/in/craig-hatmaker-4449879/

Follow David:

• Website - https://www.davidclaytonbrown.com/

Follow Danielle:

• LinkedIn - https://www.linkedin.com/in/daniellesteinfairhurst/

Follow Ian:

• LinkedIn - https://www.linkedin.com/in/ianrbennett/

Follow Craig T:

• LinkedIn - https://www.linkedin.com/in/cfthompson/

Follow Paul: 

• Website - https://www.thefpandaguy.com   
• LinkedIn - https://www.linkedin.com/in/thefpandaguy  
• YouTube - https://www.youtube.com/@thefpaguy8376  

Follow Financial Modeler's Corner  

• LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true  
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Sign 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:

[01:42] - Introduction to the Episode

[04:16] - The Debate Battle Starts

[07:12] - Should Financial Modelers Learn Python?

[11:15] - Dynamic Arrays vs. Traditional Models

[16:52] - Will Excel Ever Die?

[20:55] - Should Financial Modelers Learn Power BI?

[26:21] - Will AI Build Financial Models?

[32:09] - Circular References: Useful or Evil?

[39:27] - VBA in Financial Models

[44:41] - Number One Corporate Decision Making Tool

[52:58] - Which Financial Statement is Most Important?

[59:50] - Conclusion and Audience Poll

In this episode of Financial Modelers Corner, Paul Barnhurst aka The FP&A Guy dives deep into the intersection of corporate development and financial modeling, focusing on mergers and acquisitions (M&A). Sean Corcoran, a seasoned expert with over 20 years in corporate development, shares his insights on navigating complex transactions, building effective financial models, and driving strategic growth through acquisitions.

Sean Corcoran is the Head of Corporate Development at DigiCert and has an illustrious career spanning Fortune 50 companies, private equity-backed ventures, and public firms. With experience leading over 60 acquisitions worth billions, Sean has a comprehensive understanding of the M&A lifecycle, strategic planning, and financial modeling.

Expect to Learn

• Why simplicity and strategy are vital in corporate development financial models.
• Common pitfalls in financial models and how to avoid them.
• The importance of aligning strategic intent and integration during acquisitions.
• How FP&A professionals can transition into corporate development roles.
• The evolving tools and techniques in M&A due diligence and decision-making.

Here are a few quotes from Sean Corcoran:

• "Culture is one of the key criteria for successful acquisitions; the only way to assess it is to spend time with the prospective target."
• "A strategic partnership often evolves into an acquisition when both sides see value and alignment."
• "From a corporate development perspective, simplicity is king when building financial models."
• "AI is starting to play a role in M&A, especially in reviewing contracts and highlighting potential red flags."

From understanding the nuances of culture in acquisitions to navigating the challenges of carve-outs and earnouts, this episode offers an insightful conversation that highlights the complexity and opportunity within corporate development and the critical role of financial modeling.

Follow Sean:

• LinkedIn - https://www.linkedin.com/in/sean--corcoran/

Follow Paul: 

• Website - https://www.thefpandaguy.com   
• LinkedIn - https://www.linkedin.com/in/thefpandaguy  
• YouTube - https://www.youtube.com/@thefpaguy8376  

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=7079020077076905984

Sign 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:

[01:19] - Introduction to the Episode and Guest

[05:37] - Sean’s Background and Career Journey

[08:09] - Key Lessons from M&A Experience

[12:43] - Responsibilities in Corporate Development

[17:10] - Favorite Deals and Lessons Learned

[21:37] - Building Effective Financial Models

[30:11] - Ensuring Alignment in Financial Modeling

[34:36] - Lessons from a Career in Corporate Development

[37:39] - Rapid-Fire Questions

[42:59] - Closing and Networking

In this engaging episode of Financial Modelers Corner, host Paul Barnhurst, aka "The FP&A Guy," sits down with Liam Bastick, Managing Director of Sum Product and a highly respected figure in financial modeling and Excel expertise. Known for his complex modeling work, quirky sense of humor, and love for a good challenge, Liam shares insights into the nuances of financial modeling, discusses his favorite Excel tips, and reveals his fascination with the evolving role of AI in modeling.

Liam Bastick is a seasoned corporate trainer, author, and financial modeling expert, with a focus on Excel, Power BI, and AI applications. With a career that includes awards like Microsoft’s Most Valuable Professional and the inaugural Lifetime Achievement, international recognition, and extensive teaching, Liam provides listeners with both practical advice and fascinating anecdotes from his career.

Expect to Learn:

• Excel optimization tips and learn how to effectively use Quick Access toolbar 
• Circular references and financial modeling horror story insights
• Challenges and advantages of modeling in Power BI
• How AI is changing financial modeling and what the future might hold
• Liam’s approach to problem solving to stay at the forefront of innovation

Here are a few quotes from Liam Bastick:

• “The best tip I can give is to put the tools you use most often on the Quick Access toolbar. It’s underused but incredibly helpful.”
• “If you've got circular references in your model, you’re already on thin ice. They can lead to wrong answers and complete chaos.”
• “With AI, you can do the front-end and back-end work in financial modeling, but it’s still not there yet for the mechanics in the middle.”

In this insightful episode, Liam Bastick shared his passion for financial modeling, bringing both humor and depth to complex topics in Excel, Power BI, and AI. His reflections on adaptability, continuous learning, and challenging the limits of traditional tools serve as powerful reminders for anyone in finance or data analysis. 

Follow Liam:

• Website - https://www.sumproduct.com/
• LinkedIn - https://www.linkedin.com/in/liam-bastick-73a39114/

Follow Paul: 

• Website - https://www.thefpandaguy.com   
• LinkedIn - https://www.linkedin.com/in/thefpandaguy  
• YouTube - https://www.youtube.com/@thefpaguy8376  

Follow Financial Modeler's Corner  

• LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true  
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Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode: 

[01:52] – Introduction to guest Liam Bastick

[03:44] – Liam’s Modeling Horror Stories

[08:32] – Liam’s Professional Journey and Challenges

[14:17] – Running a Business and Reinvention

[16:05] – Discussing AI’s Impact on Financial Modeling

[20:39] – Books and Teaching Tips

[35:50] – Rapid Fire: Excel Best Practices

[46:57] – Advanced Modeling Techniques and Final Tips

[54:16] – Contact Information and Wrap Up

In this insightful episode of Financial Modelers Corner, host Paul Barnhurst (aka The FP&A Guy) welcomes financial modeling expert Rachit Jain. They delve into the nuances of financial modeling, exploring the art of building accurate, reliable models and the importance of critical thinking and lifelong learning in finance. Rachit shares real-world horror stories from his early career, reflects on the challenges of predictive modeling, and emphasizes the human elements that make models truly effective.

Rachit Jain is a seasoned financial modeler with extensive experience in finance, auditing, and quantitative modeling. Having worked with firms like Hewlett Packard and Deloitte, Rachit brings a wealth of knowledge on creating models that inform decision-making and avoid critical pitfalls. His expertise spans FP&A, data science, and quantitative finance, making him an authority on building dynamic, real-world financial models.

Expect to Learn:

• How to build trust in financial models through transparency and sound design
• Why critical thinking and communication skills are crucial in financial modeling
• Rachit’s career journey and his transition from audit to financial modeling
• The role of data science in enhancing financial modeling capabilities
• Strategies for applying financial modeling in personal decision-making

Here are a few quotes from Rachit Jain:

• "The first step in financial modeling is critical thinking – you need to know what you want to achieve before you start building."
• "In financial modeling, curiosity is everything. It’s what drives you to improve and learn beyond the basics."
• "Before starting in financial modeling, understand what part of FP&A suits your skills. Not everyone is a ‘numbers person,’ and that’s okay."

In this episode, Rachit Jain highlights financial modeling as both an art and science, emphasizing the importance of accuracy, clarity, and storytelling. Rachit’s approach shows that great financial modeling goes beyond numbers; it requires curiosity, critical thinking, and a balance between simplicity and sophistication.

Follow Rachit:

• LinkedIn - https://www.linkedin.com/in/jainrachit1008/

Follow Paul: 

• Website - https://www.thefpandaguy.com   
• LinkedIn - https://www.linkedin.com/in/thefpandaguy  
• YouTube - https://www.youtube.com/@thefpaguy8376  

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=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:15] - Introduction to the Episode and Guest

[05:26] - Rachit’s Background and Career Path

[09:00] - Advice for Transitioning to Financial Modeling

[11:01] - Lifelong Learning in Finance

[13:17] - Financial Modeling as a Way of Thinking

[18:15] - Unique Applications of Financial Modeling

[22:23] - Building Models for Decision Making Process

[26:57] - The Intersection of Data Science and Financial Modeling

[33:40] - Rapid-Fire Financial Modeling Preferences

[38:53] - Closing Advice and Wrap Up

In this episode, Paul Barnhurst, host of Financial Modeler’s Corner, is joined by Carl Seidman, an experienced financial consultant and financial modeling expert. Together, they explore the intricacies of financial modeling, discuss the art and strategy of dynamic cash flow modeling, and touch on the unique challenges and lessons Carl has gathered from his years in turnaround consulting. They also discuss the broader skills and mindset shifts required for modelers who aim to excel in the complex field of financial analysis and corporate finance.

Carl Seidman is the founder of Seidman Financial and a recognized expert in financial planning, forecasting, and modeling. With experience in turnaround consulting and as a fractional CFO, Carl has worked extensively with underperforming companies and complex restructuring cases. He brings an in-depth understanding of the strategic nuances in financial modeling and cash flow management, which he shares in this episode.

Key takeaways from this week's episode include:

• The importance of long-term, flexible thinking in financial modeling and planning.
• Carl’s top lesson learned from a modeling “horror story” and how it shaped his approach to dynamic modeling.
• How dynamic arrays are transforming cash flow modeling and how to implement them.
• Why operational knowledge is crucial for effective financial modeling in turnaround situations.
• The value of networking and formal certifications in restructuring and financial advisory roles.

Here are a few quotes from Carl Seidman:

• "Financial modeling in complex situations is about facilitating discussions, not just presenting numbers." 
• "A good model tells you the ‘what,’ but the analysis and conversations that follow tell you the ‘so what’ and ‘now what.’"
• "It's important to know when to push the boundaries of what a model can do and when to keep things simple."

In this insightful episode, Carl Seidman leaves listeners with practical advice and a fresh perspective on financial modeling’s role in modern business. He highlights the value of flexibility, clear communication, and a long-term mindset, particularly in the complex terrain of turnaround consulting.

Follow Carl:

• Website - https://seidmanfinancial.com/
• LinkedIn - http://linkedin.com/in/carlseidman

Follow Paul: 

• Website - https://www.thefpandaguy.com   
• LinkedIn - https://www.linkedin.com/in/thefpandaguy  
• YouTube - https://www.youtube.com/@thefpaguy8376  

Follow Financial Modeler's Corner  

• LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true  
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Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:12] – Introduction to the episode and guest

[05:44] – Key Lessons in Modeling and Long-Term Strategy

[10:36] – From PwC to Turnaround Consulting

[16:02] – Certified Insolvency and Restructuring Advisor (CIRA)

[20:20] – Diagnosing Cash Flow Issues in Underperforming Companies

[28:52] – Embracing Dynamic Arrays for Efficient Cash Flow Modeling

[32:40] – Modeling Mindset: Curiosity and Continuous Improvement

[37:57] – Rapid-Fire Q&A: Financial Modeling Preferences

[41:59] – Advice for Aspiring Modelers: Practice and Experiment

[43:30] – Closing Remarks and Where to Connect

In this episode of Financial Modelers Corner, host Paul Barnhurst (aka The FP&A Guy) is joined by guest Mark Proctor. Together, they delve into the intricacies of financial modeling and data analysis, with a focus on building efficient models and leveraging automation in Excel. Mark shares his deep expertise on why structure is key, how to automate tedious tasks, and how Excel continues to evolve to meet the demands of modern financial professionals.

Mark Proctor is a seasoned financial professional with a background in accounting and finance, an Excel MVP, and the founder of Excel Off the Grid, a platform dedicated to improving efficiency and effectiveness in Excel. With decades of experience, Mark's insights are invaluable for anyone looking to optimize their use of Excel for financial modeling and beyond. He has helped countless professionals streamline their work through better data structure and automation techniques.

Key takeaways from this week's episode include:

• Key differences between financial modeling and data analysis
• Importance of automation in Excel and how tools like Power Query and Power Pivot can drastically improve efficiency.
• Why traditional tools like Vlookup aren’t ideal for modern data analysis and what functions you should be using instead.
• How to approach building models that are flexible and easy to use, even when multiple stakeholders are involved.
• Practical strategies for reducing manual processes and eliminating the need for repetitive tasks in Excel.

Here are a few quotes from Mark Proctor:

• "Hard coding is the enemy of a flexible financial model. Once you start hard coding, you lose the ability to see what's really driving the model."
• "One of the key takeaways from bad models is that manual adjustments should always be documented and trackable."
• "Automation should be about freeing up your time to focus on high-value tasks, not just about making things faster."

As Excel continues to evolve with powerful features like dynamic arrays and advanced automation, the tools discussed in this episode are essential for anyone looking to keep pace with the future of financial modeling. Mark’s emphasis on mastering the basics and thinking structurally will help you work faster and more effectively.

Follow Mark:

• Website - https://exceloffthegrid.com/
• LinkedIn - https://www.linkedin.com/in/markstephenproctor/

Follow Paul: 

• Website - https://www.thefpandaguy.com   
• LinkedIn - https://www.linkedin.com/in/thefpandaguy  
• YouTube - https://www.youtube.com/@thefpaguy8376  

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=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:54] - Financial Modeling Horror Stories

[04:55] - Lessons from Bad Models

[06:28] - Mark's Career Journey and Background

[12:59] - Data Analysis vs. Financial Modeling

[19:17] - Excel as a Data Analysis Tool: Key Innovations

[22:55] - Automation in Excel and Practical Tips

[33:59] - The Importance of Mastering Excel Basics

[44:19] - Wrap-Up and Closing Remarks

In this episode of Financial Modeler’s Corner, host Paul Barnhurst dives into the evolution of financial modeling with guest Chase Wright. The discussion focuses on modern financial modeling tools and workflows, particularly a new spreadsheet tool called Equals, and how it compares to Excel and Google Sheets. Wright shares his journey from a finance background to working at startups, where he developed innovative methods to streamline financial operations using cutting-edge tools.

Chase Wright is a seasoned finance executive with a decade of experience across startups and tech companies like GitLab, Instabug, and Red Hat. Currently the Head of Finance and Data at Uniqode, Chase has a unique blend of corporate finance, data science, and business management expertise. He’s also an advisor to Cacheflow and a limited partner at FOG Ventures. With an engineering background and deep experience in finance, Chase brings a fresh perspective on the challenges and innovations in financial modeling.

Key takeaways from this week's episode include:

• How Chase Wright’s career journey led him to innovate in financial modeling
• The role of modern spreadsheet tools like Equals in finance and data teams
• How to use tools like Equals to automate reporting and financial analysis
• The importance of balancing curiosity and necessity when developing career skills
• The pros and cons of traditional modeling tools like Excel and Google Sheets versus newer alternatives

Here are a few quotes from Chase Wright:

• “Equals is a modern spreadsheet for data and finance teams, connecting directly to your data sources.” - Chase Wright
• “Financial models are incredibly helpful, but at the end of the day, it's the intuition behind the model that really matters.” - Chase Wright
• “Slack integration in Equals makes communicating insights across the company incredibly simple.” - Chase Wright
• “AI in Equals acts as a copilot, making things like summing columns or adding borders incredibly intuitive.” - Chase Wright

In this episode, Chase Wright shares his journey from struggling with complex models in Excel to embracing the automation and connectivity that Equals offers highlights the growing need for more intuitive and efficient financial tools. He emphasizes that the right tools, combined with critical thinking, can not only improve workflows but also provide deeper insights that drive business success.

Follow Chase:

• Website - https://www.uniqode.com/
• LinkedIn - https://www.linkedin.com/in/chasewright/
• Blog - https://medium.com/uniqode-secret-sauce/an-operators-guide-for-managing-your-saas-startup-s-cash-flow-c1dbfc3a1e71

Follow Paul: 

• Website - https://www.thefpandaguy.com   
• LinkedIn - https://www.linkedin.com/in/thefpandaguy  
• YouTube - https://www.youtube.com/@thefpaguy8376  

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=7079020077076905984

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Visit www.fminstitute.com/podcast and use the code “Podcast” to save 15% when you register. 

In today’s episode:

[01:45] – Introduction to Chase Wright and his journey

[02:54] – The nightmare of VBA models and lessons

[04:24] – Educational Path: Finance to Engineering

[07:01] – Equals: The modern spreadsheet tool

[15:13] – How Equals Simplifies Data Integration

[20:02] – Financial modeling: Critical Thinking in Action

[31:03] – Rapid Fire Segment: Excel and Equals

[39:37] – Conclusion and Final Thoughts