Financial Modeler's Corner

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 Learn

1. How logistics forecasting connects to financial forecasting
2. Why forecast accuracy and bias matter in decision-making
3. How operational drivers influence financial results
4. Ways finance, sales, and logistics teams can align better
5. How Excel and data analysis support forecasting and planning

Here are a few quotes from the episode:

1. “Sometimes the smallest operational issue becomes the biggest financial problem later.” – Amber Johnson
2. “Good forecasting isn’t about being perfect, it’s about learning and adjusting.” – Amber Johnson

Amber 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/

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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:

[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 Learn

1. Why structure and consistency are key in financial modeling
2. The role of simplicity in building models
3. Insights from Nick’s competitive modeling career
4. How to balance technical expertise with user-friendly design

Here are a few quotes from the episode:

1. "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
2. "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 Boberg

Nick 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/

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LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

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:

[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 Learn

1. How Claude 4.6 performs on real financial modeling accreditation cases
2. Where AI tools still make subtle but significant modeling errors
3. The difference between automation and augmentation in AI usage
4. Why strong modeling fundamentals remain essential
5. Practical ways to begin integrating AI into your modeling workflow

Here are a few quotes from the episode:

1. “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
2. “Modeling is just as much about the process as it is about the end result.” – Ian Schnoor

Claude 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 Learn

1. Why mastering the fundamentals of financial modeling is essential in an AI-driven world
2. How Chris integrates AI tools to enhance his modeling work
3. The role of dynamic arrays in streamlining financial models
4. The balance between technical skills and business decision-making
5. Insights on why complex models aren't always better

Here are a few quotes from the episode:

1. “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
2. “The real goal of any model is to help the business understand what to do next, not just to show off technical skills.” - Chris Reilly

Chris 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=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:

[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 Learn

1. Why financial modeling fundamentals matter more than ever in an AI-driven world
2. How Chris actually uses AI in real client models versus online hype
3. Why simple, well-built models outperform overly complex ones
4. How to balance technical modeling skills with business decision-making

Here are a few quotes from the episode:

1. “AI is a great accelerator if you already understand the fundamentals. If you don’t, it just magnifies the problem.” - Chris Reilly
2. “There’s a missing middle right now where people are skipping the fundamentals and jumping straight to the results.” - Chris Reilly

Chris 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=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:

[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 Learn

1. How a bad college project helped kickstart Luke’s modeling career
2. What Solver is and how it supports complex planning and reporting
3. Tips for simplifying models without losing value
4. The role of communication in building useful models
5. Luke’s take on AI and dynamic arrays in Excel

Here are a few quotes from the episode:

1. “We're not hiring you for your technical ability, we're hiring you for your potential.” – Luke
2. “I love spreadsheets, the way you can pull complex calculations together and form a view of a company.” – Luke

Luke 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=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:

[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 Learn

1. Why using someone else’s model as a template can be risky
2. The importance of understanding and communicating key assumptions
3. How to tailor models for investors and third-party users
4. What it’s like to fail, and then pass, the AFM exam
5. The value of applying both corporate and project finance in modelling

Here are a few quotes from the episode:

1. “If you're going to use someone else's model, make sure you understand everything inside it.” – Karishma
2. “It's not just about Excel. It's about who's using the model and what story you're telling with it.” – Karishma

Karishma'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=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:

[01:56] - 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 Learn

1. How AI is revolutionizing financial modeling and the specific ways it’s being used today.
2. The technical components behind AI agents and how they differ from simple chatbots.
3. The importance of context and system prompts when working with LLMs in financial tasks.
4. Insights into the memory limitations of LLMs and how agents work around this challenge.

Here are a few quotes from the episode:

1. "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
2. "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 Jacks

Tim 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 Learn

1. Why hard-coded models are a major risk to accuracy and flexibility
2. How to turn raw data into insights that drive real business decisions
3. The importance of starting every model with a clear question or goal
4. How the TACTIC framework improves structure and clarity in modeling
5. Why strong modeling skills matter at every career stage

Here are a few quotes from the episode:

1. “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
2. “Data is only useful if it can be transformed into actionable insights.” – Carolina Lago

Follow Carolina:

LinkedIn – https://www.linkedin.com/in/s-carolinalago/

Website – https://www.tacticfinancial.com

In 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 Learn

1. Key trends in Excel and financial modeling from 2025
2. How AI is changing the way models are built, tested, and audited
3. The importance of simplicity, documentation, and user involvement in model design
4. Why communication and business understanding are becoming essential skills for modelers

Here are a few quotes from the episode:

1. “Complexity can backfire by making you indispensable in ways that hurt your career growth.” – Paul Barnhurst
2. “AI is a magnifier, it makes good modelers better and highlights weaknesses in those without a solid foundation.” – Paul Barnhurst

In 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