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Welcome to the Financial Modeler's Corner (FMC), where we discuss the Art and Science of Financial Modeling with your host Paul Barnhurst.
Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.
In today’s episode, Paul engages in a conversation with Stephen Aldridge, to discuss developing and implementing Financial Modeling standards and best practices, including insights from his work on the Financial Modelling Code. This conversation is packed with practical advice and fascinating anecdotes.
Stephen, the founder of Numeritas, has over 20 years of experience in Financial Modeling. Stephen has worked with and for top firms like KPMG and Deloitte. With a background in engineering, sales, and corporate management, he offers a unique perspective on Financial Modeling standards and best practices.
Key takeaways from this week's episode include:
Quotes:
Here are a few relevant quotes from the episode on financial analysis and modeling:
“I suppose a few things within a firm, you probably want a house style, at least an agreed approach, so that if somebody else picks up the model, has to work on it or somebody leaves, then you've got continuity.”
“Prototyping helps the user to see what they like to get. If they think, oh no, this isn't what I would imagine, what about these things then? You're getting all that out in the open before you start coding.”
“It's very important to think about the human aspect of modeling and what goes around it as well, and the assumptions we make and the bias that can creep in and all these sorts of things.”
“Keep the user at the center of everything you do, keep them at the center of your thinking, and that way you'll produce a model that's much easier to use, and likely to have a longer life.”
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 code “Podcast” to save 15% when you register.
Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit.
View and download the Financial Modeling Code at financial-modelling-code.ashx (icaew.com)
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In today’s episode:
(00:50) Introduction
(01:40) Guest Introduction
(01:45) Horrifying Financial Models
(04:10) Approach to Financial Modeling
(05:25) Guest's Background and Career Journey
(08:20) Developing Modeling Standards
(15:09) Divergent Views and Common Agreements
(18:15) Best Practices and Lessons Learned
(24:30) Importance of Prototyping
(28:00) Most Enjoyable Modeling Project
(30:30) Joking on Big Numbers
(33:20) Rapid-Fire Question Round
(44:20) Guest's Advice for Aspiring Financial Modelers
(44:47) Guest's Contact Information
No transcript available for this episode.

Financial Modeler's Corner

Financial Modeler's Corner

Financial Modeler's Corner