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Introduction to Financial Modeling for Beginners

Symon He and Brandon Young

Instructor Symon He hosts near daily LIVE office hours on TikTok 10:30PM PDT. Find him @SymonHe.

Arun Mohan - 5 Stars

“The experience was an enlightening one as I was a novice in Finance and Excel and this Class was best fit for me. I could understand everything as the instructor took time to explain at a good pace and patiently introduced excel as well as accounting methods. Looking forward to getting acquainted with more of Finance.”

 

Ethan Wong - 5 Stars

Read more

Instructor Symon He hosts near daily LIVE office hours on TikTok 10:30PM PDT. Find him @SymonHe.

Arun Mohan - 5 Stars

“The experience was an enlightening one as I was a novice in Finance and Excel and this Class was best fit for me. I could understand everything as the instructor took time to explain at a good pace and patiently introduced excel as well as accounting methods. Looking forward to getting acquainted with more of Finance.”

 

Ethan Wong - 5 Stars

“The course was designed very well, with clear explanations of the topic matter. Having the instructor show you everything step-by-step was very useful for learning. Also, having the excel spreadsheets to practice on was perhaps the most useful thing for me.”

 

There are THREE things you need to do in order to learn financial modeling:

            1.         You need to understand the key concepts of Finance

            2.         You need to understand the relevant features & techniques in Excel

            3.         You need to be able to put both of those together in practice.

 

 

You're reading this because you have an interest in learning financial modeling for your work or a desire to get into corporate finance.

 

We did too many years ago.

 

But when we first started out, we wasted a lot of time and effort learning useless and unnecessary information and techniques.

 

It didn't have to be as painful and time-consuming as it was.

 

That's why we created this course,  so you can avoid making the same mistakes that we made and learn financial modeling fast with no wasted effort. 

 

You DON’T have to learn everything about finance or Excel to become proficient at financial modeling.

 

You just need to know the RIGHT concepts and the RIGHT tools in each to get started.

 

Now why should you learn from us?

 

I’m proud to say that I have an MBA from Stanford University and have worked on many commercial real estate properties across a dozen asset types in multiple markets. I even helped create the underwriting standards for a 2000-store private restaurant chain, helping them open new locations around the world.

 

And as a licensed broker and real estate consultant, I've helped many private clients with locating, evaluating, and structuring investment opportunities including multi-million dollar commercial property acquisitions and 1031 exchanges.

 

My co-instructor, Brandon Young, has a Masters in Real Estate Finance & Development from the University of North Carolina Charlotte as well as a Masters in Finance from Tulane University. He has over a decade of combined financial and real estate experience, including acquisitions and development.

 

We've been living and breathing in financial models for practically our entire careers.

 

Andrés Soto - 5 Stars

“A really good course for beginners. Right now I understand everything.” 

Henry Taatjes - 5 Stars

"great instructors, great content”

Brady Burba - 5 Stars

“After reaching this point I see the training is going deeper into Excel and how to utilize the many tools and formulas Excel offers, without training on topics that are not relevant to my needs. Thank you. ”

 

What if I don't have any Finance or Excel background?

 

No worries. This is an introductory course and it assumes ZERO prior knowledge or experience.  It is condensed because we've curated only the most relevant and useful topics to get you going fast.  

 

What will I be able to do after I take your course?

 

After taking our course, you will be:

•           Able to confidently speak to key finance, accounting, and modeling concepts

•           Able to use over a dozen of the most useful Excel features & techniques

•           Able to construct three distinct financial models from scratch

 

What’s with the lemonade stand?

 

Learning Excel or finance on their own is tough enough, and learning them at the same time can be extra challenging.  To further muddy the waters by asking students to learn an arbitrary business model would be unnecessarily confusing and a waste of time.   

But even with a simple business model such as a lemonade stand, you'll be surprised by how complex and sophisticated the analysis can become.

 

What’s holding you back?

 

Are you afraid this course won’t work?  I promise you it will.

 

Are you afraid this course will work and you’ll actually have to start investing? I think that’s a pretty good problem to have.

 

Are you afraid it will take time and effort? It will. Real estate isn’t an easy business, if it was everyone would do it. But if you put in the work I promise you’ll see results.

 

Best of all, there is absolutely ZERO risk. Udemy gives you a 30-day money back guarantee to ensure you get what you pay for.

 

So go ahead, sign up and let’s get to work right away.

Enroll now

What's inside

Learning objectives

  • Understand the essentials of financial modeling using excel
  • Understand the financial modeling process
  • Be able to build their first financial forecast model in excel
  • Be able to build their first financial reporting model in excel
  • Be able to build their first financial decision making model in excel
  • Be proficient in financial model design
  • Understand core concepts in finance
  • Know the business of lemonade stands inside out!

Syllabus

Intro to the Course

Quick message for students

A few reminders before we begin
Get an overview and build your first financial model!
Read more

Take the course in order and don't skip around unless you have a existing background in finance and have some moderate skill level in Excel already.

Welcome to the course, this section introduces you to financial modeling. Learn about the financial modeling process, financial model design, and complete a short case study!

Learn about the financial modeling process and how to identify the different types of financial models.

Learn about financial model design and best practices for building financial models.

Learn how to create a mortgage calculation model in Excel. You'll also learn how to create an amortization schedule that shows how the mortgage loan amortizes over time.

This is part 2 of the introduction case study on building a mortgage calculation model.

Understand the Foundational Topics Required for Financial Modeling

Taking this section is like eating veggies--it might not always taste the best, but it'll be good for you. Promise!

This lecture discusses the balance sheet, accounting equation, and capital structure.

Learn how to read and interpret the information contained on the income statement.

This lecture covers the primary elements of the statement of cash flows.

This lecture covers the financial forecasting process and the important items you should take into consideration when developing a financial projection.

Here we cover the time value of money and how to calculate the value of a payment or series of payments at different points in time.

Capital Asset Pricing Model

Learn about the cost of debt and equity and how those two items are combined to calculate the weighted average cost of capital (WACC).

Learn about the various investment return metrics like internal rate of return (IRR), net present value (NVP), return on equity (ROE), equity multiple, and peak capital.

This section summarizes what you learned in the finance and accounting section. Congratulations, you're now ready for Excel!

Finance & Accounting Concepts
Learn the Key Excel Tools & Techniques Needed for Financial Modeling

Don't skip this section! All the case studies assume you have a solid understanding of these Excel features & techniques.

Learn how to anchor or lock in cells, rows, and columns in order to create more efficient formulas. This is important, we'll use these techniques a lot in the case studies!

Learn how to create drop-down lists in Excel using data validation. This is a neat trick that will enable to expand the functionality of your financial models.

Learn to use conditional functions in Excel like SUMIF, COUNTIF, and AVERAGEIF.

This lecture covers how to create and utilize named ranges. Named ranges are a big help when you're using lookup and reference functions.

Learn to create conditional statements using the IF, AND, and OR functions.

Learn how to use the most important financial functions like IRR, PV, and NPV. You'll also learn how to calculate various payments using the PMT, IPMT, and PPMT functions.

In this section we cover how to use the VLOOKUP, HLOOKUP, and MATCH functions. This is a really important lecture that will take your skills to the next level!

Tired of getting formula errors? I'll show you how to manage those errors and track down the root cause.

Here we cover how to import data from external sources like databases, websites, and text files.

PivotTables and PivotCharts are very powerful Excel tools and I'll show you how to use both.

Use solver to quickly manipulate decision variables to reach your desired outcome. We'll cover how to set solver up within Excel and teach you how to use it.

In this lecture you'll learn about data tables and how to set up a sensitivity analysis. Both one and two variable data tables are covered.

Tired of doing the same thing over and over? Learn how to record a macro and automate your work tasks.

Security is important! Learn how to secure your workbooks, worksheets, and manage the user input process.

This section summarizes what you learned in the finance and accounting section. Congratulations, you're now ready for the first case study!

Excel Features & Techniques
Learn to create a financial forecast model

Meet Lucy, teen entrepreneur looking to build her lemonade empire. And now she needs your help.

This case study teaches you how to create a financial forecasting model. You'll learn how to develop a proforma income statement, balance sheet, and statement of cash flows for Lucy and her lemonade stand.

Part 2 of the financial forecasting case study.

Part 3 of the financial forecasting case study.

Part 4 of the financial forecasting case study.

Part 5 of the financial forecasting case study. Last section!

This section summarizes what you learned in the financial forecasting case study. Congratulations, you're now ready for the second case study on financial reporting!

Take What You've Learned So Far and Build a Full Financial Reporting Model

Overview of Financial Reporting case study exercise.

This case study teaches you how to create a financial reporting model. You've master the art of financial forecasting, now learn how to create a model that compares Lucy's actual 2016 results to what you projected.

Part 2 of the financial reporting case study.

Part 3 of the financial reporting case study.

Part 4 of the financial reporting case study. Last section!

This section summarizes what you learned in the financial reporting case study. Congratulations, you're now ready for the third case study on financial decision-making!

Learn to Create a Financial Decision-Making Model

Quick overview of our third and final case study on Lucy's lemonade business.

This case study teaches you how to create a financial decision-making model. You'll learn how to develop an acquisition/valuation model that Lucy can use to start buying out her competitors in the neighborhood!

Part 2 of the financial decision-making case study.

Part 3 of the financial decision-making case study.

Correction to the peak capital calculation in the upcoming lecture.

Part 4 of the financial decision-making case study.

Part 5 of the financial decision-making case study. Last section!

SUMMARY: Financial Decision-Making Model
Back of the Envelope
Building a Back of the Envelope Rental Income Property Model Part 1 of 2
Building a Back of the Envelope Rental Income Property Model Part 2 of 2
Well done! What's Next?

Well done! You've finished this course!

For new students of Udemy

Overview of some useful Udemy features like speeding up lectures, bookmarking, downloading files, and how to to ask questions to the Q&A forum.

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Assumes zero prior knowledge or experience in finance or Excel, making it accessible for individuals with no prior exposure to financial modeling
Uses a lemonade stand as a business model, which simplifies complex financial concepts and makes them easier to understand for beginners
Instructors have advanced degrees and extensive experience in finance and real estate, providing learners with practical insights and real-world knowledge
Requires learners to take the course in order and not skip around unless they have an existing background in finance and some moderate skill level in Excel already
Teaches Excel features and techniques that are essential for financial modeling, ensuring learners develop practical skills applicable to real-world scenarios
Covers financial forecasting, reporting, and decision-making models, providing a comprehensive understanding of the different types of financial models

Save this course

Save Introduction to Financial Modeling for Beginners to your list so you can find it easily later:
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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Introduction to Financial Modeling for Beginners with these activities:
Review Basic Accounting Principles
Solidify your understanding of fundamental accounting principles to better grasp the financial statements used in modeling.
Browse courses on Accounting Principles
Show steps
  • Review the definitions of assets, liabilities, and equity.
  • Study the accounting equation and its implications.
  • Practice basic journal entries and their impact on financial statements.
Practice Essential Excel Functions
Sharpen your Excel skills by practicing essential functions used extensively in financial modeling.
Browse courses on Excel Functions
Show steps
  • Complete online tutorials for VLOOKUP, IF, and SUMIF functions.
  • Create a sample spreadsheet and practice using these functions with different datasets.
  • Explore data validation techniques to create interactive models.
Read "Financial Modeling" by Simon Benninga
Gain a deeper understanding of financial modeling principles and techniques by studying a comprehensive textbook.
View Financial Modeling, fifth edition on Amazon
Show steps
  • Read the chapters relevant to the course syllabus.
  • Work through the examples provided in the book.
  • Compare the book's approach to the methods taught in the course.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Build a Simple Discounted Cash Flow (DCF) Model
Reinforce your understanding of financial modeling by building a DCF model from scratch.
Show steps
  • Gather historical financial data for a publicly traded company.
  • Project future cash flows based on reasonable assumptions.
  • Calculate the present value of future cash flows using an appropriate discount rate.
  • Determine the intrinsic value of the company based on the DCF model.
Create a Blog Post on Financial Modeling Best Practices
Solidify your knowledge and share your insights by writing a blog post on financial modeling best practices.
Show steps
  • Research and compile a list of financial modeling best practices.
  • Write a blog post explaining each best practice with examples.
  • Edit and proofread the blog post for clarity and accuracy.
  • Publish the blog post on a platform like Medium or LinkedIn.
Develop a Financial Model for a Startup
Apply your financial modeling skills to a real-world scenario by developing a model for a startup company.
Show steps
  • Choose a startup company or create a hypothetical one.
  • Research the industry and market for the startup's product or service.
  • Develop a financial model that projects the startup's revenue, expenses, and cash flow.
  • Analyze the model's results and identify key drivers of the startup's success.
Read "Using Excel for Business and Financial Modelling" by Danielle Stein Fairhurst
Enhance your Excel skills for financial modeling with a practical guide.
View Financial Modeling in Excel For Dummies on Amazon
Show steps
  • Read the chapters covering Excel functions and techniques relevant to financial modeling.
  • Follow the step-by-step instructions to create sample models.
  • Apply the techniques learned to the case studies presented in the course.

Career center

Learners who complete Introduction to Financial Modeling for Beginners will develop knowledge and skills that may be useful to these careers:
Investment Analyst
An investment analyst analyzes financial data to make investment recommendations. This course helps anyone looking for a career as an investment analyst by providing practical experience in constructing financial models. The course's focus on forecasting, reporting, and decision-making models is essential for this role. The course's exploration of key finance concepts and Excel techniques further enhances skills needed for investment analysis, making this a strong fit.
See salaries and explore the career path for Investment Analyst
Financial Analyst
A financial analyst relies on financial modeling to make recommendations for investment strategies. This course will help build a foundation for this role by teaching the use of Excel for financial analysis. The course covers core finance concepts, accounting, and the use of key Excel features, including building financial models for forecasting, reporting, and decision-making. A financial analyst benefits from the practical application of these concepts, which are central to this course.
See salaries and explore the career path for Financial Analyst
Real Estate Analyst
A real estate analyst evaluates the financial viability of real estate investments, a process that relies on the creation of financial models. This introductory course on financial modeling helps a real estate analyst by providing foundations in finance, accounting, and model building in Excel. The course introduces concepts of financial forecasting, reporting, and decision-making, all applied to a business model. This course is taught by instructors with significant real estate experience.
See salaries and explore the career path for Real Estate Analyst
Corporate Finance Analyst
A corporate finance analyst uses financial modeling to advise on a company's financial strategy and operations. This course allows those seeking to become corporate finance analysts to understand the importance of financial modeling. This course teaches finance and accounting concepts as well as Excel skills, which are crucial for this career role. The creation of forecasting, reporting, and decision-making models builds directly applicable skills.
See salaries and explore the career path for Corporate Finance Analyst
Budget Analyst
Budget analysts prepare and manage budgets, using financial analysis and modeling to ensure resources are allocated effectively. This course may be helpful to anyone looking to enter this role because it provides practical experience in Excel-based model building, including forecasting, reporting, and decision-making. Learning key finance and accounting concepts builds a strong foundation for any budget analyst. The course helps build confidence in using these skills.
See salaries and explore the career path for Budget Analyst
Financial Consultant
A financial consultant advises clients on financial planning and strategies. This career relies on financial modeling to assess scenarios and make recommendations. This course is useful to a financial consultant with its curriculum, focusing on finance concepts and Excel techniques. The course's focus on creating forecasting, reporting, and decision-making models helps build capabilities in financial modeling. This foundational knowledge could be considered vital for this role.
See salaries and explore the career path for Financial Consultant
Management Consultant
A management consultant uses financial modeling to assess business operations and recommend strategic improvements. This course could help someone become a management consultant by providing training in financial modeling. The course teaches core finance and accounting principles, as well as important Excel skills, all of which are necessary for this work. The course's focus on developing practical models is particularly beneficial.
See salaries and explore the career path for Management Consultant
Business Analyst
A business analyst uses data to understand business needs and offer suggestions. This course may be useful to a business analyst seeking to enhance analytics skills as the course includes instruction on financial modeling. The course introduces important Excel features and techniques necessary for data analysis. The course's emphasis on creating financial models could help someone develop the skills needed for business analysis.
See salaries and explore the career path for Business Analyst
Equity Analyst
An equity analyst researches and analyzes financial data to inform investment decisions on equity. The course may be helpful to anyone who wants to become an equity analyst because it teaches Excel-based financial modeling. The course's instruction in financial concepts, accounting, and modeling could be a way to develop key skills. The course's hands-on approach to financial models may be seen as valuable for equity analysis.
See salaries and explore the career path for Equity Analyst
Data Analyst
A data analyst collects and interprets data to identify patterns and provide insights. This course may be helpful for a career as a data analyst, as it involves working with Excel and requires attention to detail. The course introduces several Excel techniques, which enhance skills in data handling. The course's focus on financial data and modeling contributes to a broader data analysis skill set.
See salaries and explore the career path for Data Analyst
Project Manager
Project managers oversee projects, which often require careful financial planning and management. This course may benefit a career as project manager by enhancing the ability to understand and create financial models. The course helps build proficiency in using Excel-based financial tools, which are useful for budgeting and resource allocation. The course's curriculum introduces essential finance and accounting principles.
See salaries and explore the career path for Project Manager
Accountant
An accountant manages financial records and ensures accuracy in financial reporting. This course may be useful for anyone looking to become an accountant, as learning about financial models and gaining experience with Excel may provide new tools. The course's focus on accounting concepts and financial reporting could be beneficial. The course's practical approach to financial model building may appeal to those in the accounting field.
See salaries and explore the career path for Accountant
Operations Manager
An operations manager oversees the daily operations of an organization and may require understanding of financial data. This course may be useful to operations managers by introducing them to financial modeling. The course's focus on Excel techniques can assist operations managers in analyzing data. The course also covers some important finance and accounting concepts, all of which would be relevant in this role.
See salaries and explore the career path for Operations Manager
Entrepreneur
Entrepreneurs need strong financial skills to manage their businesses and make informed decisions. This course may be beneficial for an entrepreneur, helping to learn practical financial modeling. The course emphasizes understanding key finance concepts and using Excel to build models. The real-world case studies, based on a lemonade stand business model, make this course useful for entrepreneurs seeking to manage their own finances.
See salaries and explore the career path for Entrepreneur
Market Research Analyst
A market research analyst gathers and analyzes data to understand market trends. While this course focuses on financial analysis, it may be useful in a market research role. This course provides practical training in using Excel for analysis. The experience of using data to build financial models may help one become more comfortable with data analysis in general.
See salaries and explore the career path for Market Research Analyst

Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Introduction to Financial Modeling for Beginners.
Cover image
Financial Modeling, fifth edition
Save
Provides a comprehensive guide to financial modeling techniques. It covers a wide range of models and provides practical examples. It useful reference for understanding the theoretical underpinnings of financial models and for building more sophisticated models beyond the scope of the course. This book is commonly used as a textbook in finance courses.
Financial Modeling, fifth edition
Hardcover
$$$$
Financial Modeling, fifth edition
Kindle Edition
$$$
Cover image
Financial Modeling in Excel For Dummies
Save
Focuses on practical Excel techniques for financial modeling. It provides step-by-step instructions and real-world examples. It is particularly useful for students who want to improve their Excel skills and learn how to apply them to financial modeling. This book is valuable as additional reading to reinforce the Excel skills taught in the course.
Financial Modeling in Excel For Dummies
Paperback
$$
Financial Modeling in Excel For Dummies
Paperback
$$
Financial Modeling in Excel For Dummies
Kindle Edition
$$

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Effort
6.5 total hours
Via
Udemy
Instructors
Symon He
Brandon Young
Language
English
Good to know
Assumes zero prior knowledge or experience in finance or Excel, making it accessible for individuals with no prior exposure to financial modeling
Uses a lemonade stand as a business model, which simplifies complex financial concepts and makes them easier to understand for beginners
Instructors have advanced degrees and extensive experience in finance and real estate, providing learners with practical insights and real-world knowledge
Requires learners to take the course in order and not skip around unless they have an existing background in finance and some moderate skill level in Excel already
Teaches Excel features and techniques that are essential for financial modeling, ensuring learners develop practical skills applicable to real-world scenarios
Covers financial forecasting, reporting, and decision-making models, providing a comprehensive understanding of the different types of financial models
Share and help others discover this course.
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