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Course Resources (Please do this first)
Download all files listed under Downloadable materials below.
Save everything in one folder named AFM Resources.
Keep these open while studying (we will reference them throughout the course):
AFM Handbook
AFM Exam Structure
AFM Skills Checklist
Body of Knowledge Summary
Use Best Practices – Structuring Financial Models as your guide for clean model structure and formatting.
If you’re applying in Excel, keep Excel Keyboard Shortcuts nearby to work faster.
✅ Action now: Download the files and organize them before moving to the next lecture.
Important (before you start):
Download all files from the Resources / Downloadable materials section below the lecture.
Open the Excel file and the PDF case and keep them visible while watching.
Follow step-by-step (don’t just watch).
Pause the video after each step and apply it yourself, then continue.
If needed, rewind 10–15 seconds and repeat the step.
Objectives:
Understand the structure of revenue modeling in AFM-style financial models
Identify key revenue drivers and forecasting assumptions
Build revenue projections based on operational inputs
Recognize common revenue-related exam traps and adjustments
Objectives:
Differentiate between fixed and variable operating costs
Model SG&A expenses using realistic financial assumptions
Understand operating leverage and its impact on profitability
Identify cost behavior patterns frequently tested in AFM scenarios
Objectives:
Understand capital expenditure planning in financial models
Model depreciation using appropriate accounting methods
Link Capex decisions to cash flow and balance sheet impact
Analyze the effect of asset investment on profitability and valuation
Objectives:
Understand the components of working capital
Model receivables, payables, and inventory cycles
Analyze the cash flow impact of working capital changes
Identify working capital adjustments commonly tested in AFM
Objectives:
Calculate taxable income within a financial model
Apply corporate tax rates correctly
Model deferred tax effects when applicable
Understand how taxes affect net income and cash flow
Objectives:
Model senior debt amortization schedules
Calculate interest expense accurately
Understand the concept of excess cash and cash sweeps
Analyze debt repayment structures in AFM-style cases
Objectives:
Understand how revolving credit facilities function
Model drawdowns and repayments dynamically
Link revolver balances to cash flow shortfalls
Avoid circular reference errors in debt modeling
Objectives:
Model equity injections and dividend distributions
Update retained earnings accurately
Ensure balance sheet integrity and balancing checks
Perform a structured cash flow reconciliation
Objectives:
Build scenario analysis within the financial model
Test upside and downside assumptions
Evaluate sensitivity of key financial metrics
Interpret scenario results for decision-making
Objectives:
Review the complete financial model structure
Understand how all components integrate together
Analyze scenario outputs holistically
Prepare the model for final review and presentation
Objectives:
Format the financial model professionally
Prepare clean outputs for reporting
Design dashboards and summary views
Convert the model into presentation-ready PDF format
This course is a practical preparation program for the AFM (Advanced Financial Modeler) exam, designed to help you master financial modeling with a real-world, exam-focused approach.
You will build a fully integrated 3-statement financial model step by step — covering revenue modeling, operating costs (SG&A), working capital, CAPEX, depreciation, taxes, senior debt, revolver facilities, equity movements, and full cash flow integration.
This is not a theoretical course. It is hands-on and structured exactly the way AFM expects you to think during the exam. You will understand how financial statements connect, how scenarios affect results, and how to build professional models under time pressure.
Throughout the program, you will learn best practices in financial model structuring, error checking, assumption design, and logical flow. Special focus is placed on clarity, linking accuracy, and maintaining model integrity under different business scenarios. The course simulates real exam conditions to strengthen both speed and analytical confidence.
By the end of this course, you will be able to:
• Build a dynamic 3-statement model
• Model debt and cash flow schedules
• Perform scenario and sensitivity analysis
• Validate balance sheet and cash flow logic
Ideal for finance professionals, FP&A analysts, investment analysts, and AFM candidates who want practical mastery, structured thinking, and strong exam confidence.