Real world Financial Modelling in EXCEL

Numbers make for great stories. The stories we tell depend on the questions we ask. What questions do you want to ask?

How do you model growth in the midst of a pandemic? Will you have enough cash across a range of future timelines? How much are you really worth? Why?

Not just how, but why? Understand the why behind the process, focus on discovery, rather than mechanics. Graduate from being a simple model builder to a story teller. Just like learning a new language rewires our brain, building models should help us think better; if we use the exercise as a thought experiment, the model as a thinking tool.

Two live cases. Four half days. Real world models. With an instructor who has walked in your shoes before. And questions that come straight from a founder’s heart.

Getting comfortable with the math that matters for our businesses saves us future pain as well as capital. If we don’t know what we need from our models, we keep going around in circles.

This is a remote instruction course. Live instructor led but delivered via Zoom.

Financial Modeling. June 2021. Workshop

Real world Financial Modelling in EXCEL

Numbers make for great stories. The stories we tell depend on the questions we ask. What questions do you want to ask?

How do you model growth in the midst of a pandemic? Will you have enough cash across a range of future timelines? How much are you really worth? Why?

Not just how, but why? Understand the why behind the process, focus on discovery, rather than mechanics. Graduate from being a simple model builder to a story teller. Just like learning a new language rewires our brain, building models should help us think better; if we use the exercise as a thought experiment, the model as a thinking tool.

Two live cases. Four half days. Real world models. With an instructor who has walked in your shoes before. And questions that come straight from a founder’s heart.

Getting comfortable with the math that matters for our businesses saves us future pain as well as capital. If we don’t know what we need from our models, we keep going around in circles.

This is a remote instruction course. Live instructor led but delivered via Zoom.

What is this course about? Why is it needed?

Applied financial modeling in EXCEL. How do you build better financial models faster in EXCEL? How is course different from other financial modeling courses.

Designed and put together by a market practitioner who has been building models for 30 years. Taught to bankers, founders and consultants, the course has evolved over 2 decades. Tested and optimized for online delivery. While our initial focus was on building models, we have added components that deal with thinking behind building models.

As a founder what are the most common uses of financial models at work? How do models focused on growth and scale differ from models focused on risk and strategy? Do we need complex models or simple models? How do we validate assumptions? How much does model design matter?

We start by focusing on asking and answering the right questions. The models we build are only as good as the questions we ask. Do we need to build a model to manage and plan for growth or debt servicing? Launch roadmap or capital requirements? Scale, turnaround or downside protection? For validating assumptions or pricing product offering?

We use two case studies to work with multiple approaches to designing models.

A model for forecasting growth for a startup on high-octane fuel. A model for determining debt service capacity for a turnaround school system in the Middle East.

  1. Building a financial model for growth and capital allocation for startups and founders. The Maya’s Closet case study looking at a growing startup’s capital need and decisions the founders need to make to pick one or more growth strategies.
  2. Building a financial model for credit analysis and financial forecasting. The GEMS Education case study looks at the GEMS school system debt load in the midst of the Covid-19 related slow down in UAE to evaluate the capacity of the group to raise more debt.
  3. Building a financial model for fun and curiosity. Extending the GEMS model to answer the valuation question.

Course dates & schedule – Sept/Oct 2021


Cohort 6 – September 26th – 29th
Cohort 7 – October 10th – 13th

| 4 half days. 3 hours instruction + 1 hour assignments

Cohort 6 – 7 am to 10 am Pakistan standard time (GMT +5)
For US West Coast, Canada, South American and Far Eastern customers.

Cohort 7 – 5 pm to 8 pm Pakistan standard time (GMT +5)
For MENA, Pakistan, Europe, US East Coast customers.

Course Fee

$990.00

Covers the cost of instructions, reading materials and access to online resources. Applicable taxes and deductions will vary and depend on customer location.

Testimonials from our last cohorts

The hands-on model treatment. How the P&L, Income Statement and Balance Sheet works together. Counter-intuitive insights. Creating models is a way to refine and improve your thinking. Where do I sign up for the next one?

JC Cangilla
DEAL TEAM, FACEBOOK

The course material and delivery were excellent! The structure of the course lends itself well to building on different financial concepts, as well as putting them to practice. Overall, really enjoyed the experience and would recommend the course to my colleagues.

Zermeen Sahar
CHATHAM FINANCIALS

If you are thinking about venturing into the world of entrepreneurship or want to manage your existing business better this is a “must take” course. Well worth the time and money.

Mohammed Sabzwari
EMIRATES AIRLINES

Jawwad was effectively able to demonstrate how numbers can tell an important story about your business, it’s past, present, and future.

Saman Ghani Khan
PWC, CO-FOUNDER

Great to learn from a true expert.

Shahid Mustafa
BANKER & INVESTOR

If you’re a founder, these five days could save you from tragic failure; If you’re not, you’ll want to be one.

Maaz Saeed
HABIB UNIVERSITY

I heavily rely on MOOC to improve my skill set. The engagement level during this course was second to none.

Ahsun Kamran

The course is perfectly carved according to the objectives committed and Jawwad has the ability to convey core concepts in analogies and storytelling is great.

Syed Waqar Uddin

The hands-on approach and real world examples. I loved that we stayed in excel for the entire duration of the course.

Seemab Hassan
Huawei

Coming from a non tech, non finance background, this course made me brave enough to think I can work on putting basic models together as well as understand models that are put in front of me.

Sana Farid

Helps you realize that numbers, charts, graphs aren’t intimidating. It helps you face your fear of numbers, or EXCEL in my case, and simplifies it for you in a way that you begin to enjoy numbers as well as EXCEL.

Khadeejah Habib

This course made me fall in love with numbers, projections and dynamic models! It’s a must to have course for founders!

Sameer Ahmed Khan
Social Champ

Financial Modelling Day Planner

Day 1


Financial Modelling an E-commerce Startups

Maya’s closet case study walk through how we quickly build a simple financial model and use it for making business decisions and strategic choices.

Maya is a 4 year old ecommerce startups that has gone from strength to strength in its specialty market. The two founders are evaluating a number of growth options and are using financial modeling to pick between the choices in front of them.

1. Maya Case Study
2. Business Drivers
3. Linking drivers to financial model
4. Discussion
5. Expansion
6. Growth – Limits and Caps
7. Step Functions

Day 2


Modelling Downside

Shortfall analysis is a powerful modeling technique used in downside analysis.

While on day one we looked at growth, on day two we walk through a list of things that can go wrong and modeling their impact on Maya.

1. Shortfall applications
2. Order History
3. Trends – histograms – distributions
4. Shortfall concept
5. Finalizing balance sheet
6. Income statement
7. Statement of free cash flows
8. Debt Service Coverage Ratio

Day 3


GEMS Education: Turning Around School System

GEM Case study take a difference lens. For one unlike Maya, the model is significantly more complicated. We end working with many more assumptions and add another level of modeling complexity.

How do we turn around a school system hit with a increasingly severe regional slow down? How does that impact and effect projections and debt servicing capacity.

1. Building the Model
2. Business Goals
3. Modeling Challenges
4. Finalizing Balance Sheet
5. Income Statement
6. Statement of Free Cash flows
7. Assumptions, data sources, structure
8. Design thinking and model building

Day 4


GEMS Continued

Day four is an intense sprint that requires team members to incorporate new data and answer new questions when faced with a time sensitive deadline.

Given the outlook, can GEMS service its debt? Can it afford to borrow more? That is the banker’s lens.
What is GEMS cash outlook? Under which scenarios do cash projection go dangerously low? That is the founder’s lens.
How much is GEMS worth? From the founder perspective? From a buyers point of view? That is the investor and deal lens.

1. Extending the Model
2. Handling complexity
3. Changing the context
4. Putting it all together
5. Cross checks and simple rules
6. Answering the valuation question
6. Takeaways and conclusion



EXCEL templates for building Financial Models

About the instructor

Jawwad Farid has been building, implementing risk models and back office systems since 1993. Working with clients on four continents he helps bankers, board members and regulators take a market relevant approach to risk management.

Jawwad is a Fellow Society of Actuaries, (FSA, Schaumburg, IL), holds an MBA from Columbia Business School and is a computer science graduate from FAST NUCES. During the last 29 years, he has worked as an advisor and a consultant in North America, Pakistan, Middle East, Africa, Far East and the United Kingdom.

Jawwad’s expertise include investment management and risk models.

Jawwad advises due diligence teams on risk assessment and valuation in banking, treasury and insurance sectors, sets up FX and commodity hedging desks, builds fair value models for illiquid securities for FAS 157 disclosures (US$ 600 million portfolio), estimates contingent liability reserves, implements treasury, credit and enterprise risk platforms, designs Economic Capital allocation strategies across business lines and helps life and general insurance clients with regulatory reporting, IFRS 17 implementations, and allocation and bid patterns for 10, 20 and 30 year bonds, ALM mismatch and fixed income portfolio gap reduction.

Jawwad is an adjunct faculty member at the SP Jain Global School of Management in Dubai and Singapore as well as at IBA, Karachi, where he teaches Fintech, Venture Capital, Risk Management, Derivative Pricing, Treasury and Portfolio Management. He has taught as an adjunct professor since 1995 and is consistently rated as a practical hands-on market relevant instructor by students and participants in Bangkok, Kula Lumpur, Singapore, Dubai, Abu Dhabi, Nairobi, Bahrain, Doha, New York and Karachi.

Jawwad is the author of 5 books. The latest being Founder Puzzles. Earlier titles include Models at Work, Option Greeks Primer, Portfolio Optimization Models and Reboot.

EXCEL templates for building Financial Models

You can learn more about Jawwad at: