Financial Modeling in Excel: Build 3-Statement Models

Behind every major business decision, investment analysis, and corporate forecast is a financial model built to understand future performance.

Whether you are a finance student, aspiring analyst, accountant, MBA student, or working professional, having a practical understanding of how financial models work can help you analyze businesses more effectively and make better financial decisions.

This course is designed to provide a practical and beginner-friendly introduction to integrated financial modeling in Excel.

Instead of focusing only on theory, the course takes you through the actual step-by-step process of building a fully integrated 3-statement financial model from scratch.

You’ll learn how income statements, balance sheets, and cash flow statements connect with each other and how financial analysts project future company performance using structured forecasting approaches.

The course begins by introducing the structure of a financial model and how analysts organize financial data in a standardized and analysis-friendly format.

You’ll then learn how to analyze historical financial statements by understanding:

• Profitability margins

• EBITDA

• EBIT

• Net income margins

• Liquidity ratios

• Leverage ratios

• Financial statement relationships

As the course progresses, you’ll build the model step-by-step by learning how to:

• Project revenues

• forecast costs

• Project depreciation

• Create working capital schedules

• Complete cash flow statements

• build debt schedules

• Integrate financial statements

• Balance the balance sheet

The program also explains the logic behind financial modeling concepts instead of only focusing on formulas.

You’ll understand:

• How working capital impacts cash flows

• Why depreciation affects financial statements

• How supporting schedules work

• How statement linkages function

• How debt schedules impact interest expense

• Why integrated models must balance properly

The course additionally covers:

• Revenue forecasting workflows

• Cost projections

• Capital expenditure assumptions

• Depreciation schedules

• Receivables and inventory forecasting

• Payables forecasting

• Cash conversion cycle concepts

• Cash flow forecasting

• Debt repayment modeling

• Financial statement integration

Throughout the program, the focus remains highly practical and application-oriented.

You’ll work directly in Excel while building a financial model step-by-step through a structured learning process designed specifically for beginners and aspiring finance professionals.

Whether you are a beginner learning financial modeling or a finance student, this course builds practical financial analysis skills.

It is designed for aspiring equity research analysts, MBA students, Excel users entering finance, and working professionals.

Enroll now and develop a strong foundation in financial modeling and integrated financial statement analysis using practical workflows.

What Makes This Course Different

• Focuses on practical integrated financial modeling instead of only theoretical concepts

• Explains the logic behind forecasting and statement linkages step-by-step

• Features structured beginner-friendly progression for practical understanding

• Covers full 3-statement integration workflows in Excel

• Includes working capital, cash flow, and debt schedule modeling concepts

• Demonstrates how financial statements are connected in real financial models

• Designed to simplify financial modeling concepts through hands-on learning

By the End of This Course, You Will Be Able To

• Build practical 3-statement financial models in Excel

• Understand how financial statements connect and interact with each other

• Forecast revenues, costs, working capital, cash flows, and debt schedules

• Analyze historical company financial performance more effectively

• Apply structured financial modeling workflows confidently

• Understand the logic behind integrated financial modeling concepts

• Build stronger financial analysis and forecasting skills

• Develop a solid foundation in practical financial modeling workflows

What You’ll Learn

• Understand the structure and components of an integrated financial model

• Analyze historical financial statements and profitability metrics

• Project revenues, costs, and operating assumptions step-by-step

• Build depreciation and capital expenditure schedules in Excel

• Forecast working capital, including receivables, inventory, and payables

• Understand cash conversion cycle and working capital forecasting concepts

• Complete and link cash flow statements using integrated modeling workflows

• Build debt schedules and understand debt repayment modeling concepts

• Integrate income statements, balance sheets, and cash flow statements

• Balance a fully integrated 3-statement financial model confidently

Who This Course Is For

• Beginners learning financial modeling for the first time

• Finance, accounting, and MBA students

• Aspiring equity research and corporate finance professionals

• Excel users interested in financial analysis and forecasting

• Working professionals looking to strengthen financial modeling skills

• Anyone interested in learning integrated financial statement modeling workflows

About the Course Instructor

This course is designed and guided by Dheeraj Vaidya, CFA, FRM, Co-Founder of WallStreetMojo and ExcelMojo, with extensive experience in financial modeling, valuation, financial analysis, equity research, and professional education.

Dheeraj is an IIT and IIM alumnus and has previously worked with organizations such as JPMorgan and CLSA as an analyst. Over the years, he has trained more than 100,000 learners through structured and industry-focused finance training programs.

As Course Director, he focuses on building practical, structured, and application-oriented learning experiences designed to simplify complex finance concepts and help learners apply them confidently in real-world environments.