FP&A RESOURCE GUIDE

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 Table of Contents
Section 1 - FP&A
Page 2 - What is FP&A
Page 3 - Common FP&A Roles
Page 4 - FP&A Roles Continue to Evolve
Page 5 - Top FP&A Skills Required
Page 7 - Tips for Budgeting & Forecasting
Page 8 - Budgeting & Forecasting Methods
Page 9 to 10 - Headcount Planning
Page 11 - Managing Expenses
Pages 12 to 14 - Ratio Analysis
Page 15 to 17 - R&O Analysis
Page 18 to 24 - FP&A Organizational Assessment
Page 25 to 29 - FP&A Planning Tools
Page 30 to 35- Storytelling/Presenting
Page 36 to 42- Strategic Frameworks
Page 43- FP&A Websites
Page 44 to 51 - FP&A Courses
Page 52 to 53 - FP&A LinkedIn Follows
Page 54 to 55- General Financial Metrics
Page 56 to 59- Common Industry Metrics
Page 60 to 69 - SaaS Metrics Guide (SubScript)
Section 2 - Excel
Page 71 to 72 - Excel Shortcuts
Page 73 to 84 - Excel 365 Functions
Page 85 to 89 - Excel Tables
Page 90 to 94 - Excel Power Query
Page 95- Excel LinkedIn Follows
Page 96 to 97- Excel Websites
Page 98- Excel YouTube Channels
Section 3 - Financial Modeling
Page 100 - Financial Modeling Skills
Page 101 - Financial Modeling Design Principles
Page 102 - Common Types of Financial Models
Page 103-106 - Financial Modeling Series (ProfitFrog)
Page 107- Financial Modeling Books
Page 108 - Financial Modeling Online Resources
Page 109- Financial Modeling Standards
Page 110 - Financial Modeling Follows
Section 4 - Power BI
Page 112 - Power BI Books
Page 113 - Power BI Websites
 Table of Contents
Section 5 - FP&A Data Scientist
Page 115- Prophet Forecasting Algorithim

Page 116- Microsoft Finn Forecasting

Page 117- Finance Data Science Books

Section 6 - FP&A Podcasts

Page 119 - Podcasts to Follow

Page 120 to 125 - FP&A Today

Section 7- Other
Page 127 - FP&A Services
 Section 1 - FP&A

1
 What Is FP&A?
FP&A is a set of activities that support a company in
accomplishing strategic objectives and managing an
organization's financial health:

Planning and budgeting

Forecasting

Integrated financial planning

Management and performance reporting

Financial modeling

Scenario modeling

Analytical activities

Business partnering

2
 Common FP&A Roles
Architect - Bridge between IT and finance. Have a
helicopter view of how everything fits together.

Data Scientist - Leverages advanced analytical

tools to generate hidden drivers and predictions.

Analyst - Works with architect. Analyzes data and

creates reports.

Storyteller - Presents results in contex that it's

easier for business leaders to make decisions.

Influencer - Works with senior executives to guide

the direction the company needs to take.

Connector - Connects and links things together.

Interpreter - Individual who sits between the

business and the analyst to provide materials for
the storyteller - to different audiences and
3 levels.
From: FP&A Trends 2021
 FP&A Roles Continue to Evolve

Courtesy of Born Capital

4
 Skills Required for FP&A Roles
Strategic Thinking - Ability to understand company
strategy and tie it to the financials. Able to use strategic
frameworks in analysis.

Critical Thinking - Able to objectively analyze and evaluate

different situations and form smart business judgments.

Communication - Able to communicate complex financial

concepts in simple business terms.

Storytelling - Able to take complex financial presentations

and convert them to a business story.

Influencing - Can influence the business to make smart

decisions without having formal authority.

Data Analytics - Able to work with large data sets and

generate value added insights.

Ability to Anticipate - Able to anticipate business needs

and convert them to financial plans.
5
 Skills Required for FP&A Roles
Financial Modeling - Can take assumptions and convert them
to a financial model that aids the business in making business
decisions

Excel - Strong knowledge of Excel, including using it to build

models, analyze data, and automate and streamline processes

Accounting - Working knowledge of accounting to include

debits, credits, accruals, the timing of revenue, and expenses.

Report Building - Can build business reports, graphs, charts,

and dashboards.

Problem Solving - Able to analyze a problem and provide

potential solutions to help solve the problem.

Collaboration - Able to work well with people from across the

company on various projects.

Planning - Able to build financial plans and forecasts for

revenue, opex., and capital planning.
6
 Tips for Budgeting & Forecasting

Understand your company's business Strategy

Understand the Key drivers of your business

Focus on the 80 items

Build a flexible Driver-based model

Involve Key stakeholders

Understand one-time vs. ongoing expenses

Use Scenario modeling

Provide a Range to your estimates

7
 Budgeting & Forecasting Methods
Common methods for budgeting & forecasting:
Zero-Based Budgeting - All budgets start with
zero and must be rejustified annually.

Incremental Budgeting - Prior year actuals plus

some incremental amount for growth.

Activity-Based Budgeting - This is top-down

budgeting in which you determine the key activities
and inputs necessary to support a certain target.

Driver-Based Budgeting - The budget is focused

on the key drivers that have the biggest impact on
the budget. Focus on understanding key business
drivers required to achieve objectives.

Value Proposition Budgeting - Review each line

item to determine the value it provides to the key
internal and external stakeholders and calculates
expenses based on the value they create.
8
 Headcount Planning Methods

Run Rate - Use the prior period compensation

costs and assign a growth factor to build the plan.

Name-Based Planning - Build a headcount plan

using names for each position with actual salaries
and then placeholders for new roles.

Role-Based Planning - Build plan based on

number of heads in each role using an average
salary for each role in the plan.

Capacity-Based Planning - Build plan using

capacity metrics to estimate the amount of labor
needed and the cost per unit of labor (Example:
Call Center)

9
 Compensation Costs
Base Salary - This is the base rate paid to an employee. Usually, either an hourly
rate or an annual salary.

Taxes - All government taxes (unemployment, healthcare, retirement, etc.).

Bonus - Usually a % of salary for all eligible employees.

Incentives - Special employee incentive programs. For example, operations might

pay a quarterly incentive based on certain performance targets.

Commissions - This generally consists of sales commissions paid based on the

sales plan. Usually, a certain percentage of sales.

Hiring Costs - The cost to hire an employee, including recruiting costs, relocation,
and hiring bonuses.

Benefits - These are benefits above and beyond base salary, such as insurance
premiums, travel, education reimbursements, etc.

Merit/Cost of Living - Usually, a percentage of base salary is assigned to all

employees for an annual cost of living increase.

Overtime - Estimate for the amount of overtime that hourly employees will work
during the year.

Attrition - Estimate a rate of attrition and build it into the compensation costs.

10
 Managing Expenses
Ways to Reduce Expenses:
Eliminate unused Software licenses.
Get rid of duplicate software.
Outsource non-core functions.
Offshore established processes.
Leverage buying power to reduce third-party spending.
Limit Overtime.
Stop servicing unprofitable customers.
Require capacity modeling support prior to approving backfills.
Shut down unprofitable products.
Stop all non-essential T&E.

11
 Financial Ratio Analysis
Ratio Analysis – Financial ratios are a way to analyze a business
and to easily compare and benchmark them against other
businesses in an industry.

Some common types of financial ratios include:

Profitability Ratios

Liquidity Ratios

Efficiency Ratios

Coverage Ratios

Market Value Ratios

12
 Efficiency Ratios
Common Operational Measures/(Efficiency Ratios):

CAGR = [(Current Year Sales/Period 1 Sales)^1/# of Periods] - 1

Gross Margin % of Sales = Gross Margin/Sales

R&D % of Sales = R&D/Sales

SG&A % of Sales = SG&A/Sales

Operating Income % of Sales = Operating Income/Sales

Return on Sales = Net Income/Sales

13
 Efficiency Ratio Analysis

Additional Commentary for Efficiency Ratio Analysis:

Revenue is increasing YOY, but expenses are increasing

at a greater rate than revenue.

For the last three years, expenses have been growing

faster than revenue.

COGS and SG&A increasing is the main driver of the

decline in Return on Sales.
14
 R&O Forecasting
R&O Forecasting - A high-level forecasting method focused on
identifying risks and opportunities vs. doing a full re-forecast of
the entire P&L:
Risks - In business terms, risk refers to unknown
factors that impact performance. These are the "bad
guys" that were not included in the annual budgeting
process.

Opportunities - These are the "Good Guys" that

were unknown or not included as part of the annual
budgeting process

Pros
Easy to implement.
Less time intensive.
Cons
Not as detailed.
Many small items, when added together, can
be material and get missed as the focus is on
material items.
15
 Revenue R&O Example

Sample Commentary for R&O Forecast:

Higher sales due to closing 2 deals earlier than anticipated.

Price increase at 3% for 40% of customer base starting in July.

Churn rate higher than planned and expected to continue.

Sales productivity improvement due to new training program.

A product outage occurred on January 6th for 6 hours due to

server failure resulting in $40K loss.

Decline in install revenue due to change in product mix.

16
 EBITDA R&O Example

Sample Commentary for R&O Forecast:

See revenue commentary for key revenue drivers.

COGS adjustment is based on a percentage of revenue impact.

Wage increases due to inflation being higher than expected.

Delayed customer support hires to preserve EBITDA.

Software lisc. renewal cost higher than forecasted.

Canceled marketing event due to COVID-19.

17
Reduced T&E due to COVID-19.
 Assessing Your FP&A Function

18
 Benefits of an FP&A Org. Assessment
Provides an understanding of the current state.

Aids in the creation of the ideal future state.

Provides data needed for tracking improvement.

Shows employee’s commitment to assessing and

improving the org.

Helps validate work done by the organization.

Helps diagnose problems and propose interventions.

Serves as a communication tool within the department

and with stakeholders.

Helps builds the organization’s capabilities.

19
What to Review During an Assessment

20
 FP&A Assessment Resources
FP&A Maturity Assessment Model — FPANDA CLUB –
Developed by Anna Oblakova

FP&A Maturity Model – Link to a webinar sponsored by

Board and presented by FP&A Trends on the FP&A Maturity
Model: Best-In-Class FP&A and How to Get there. Link:
FP&A Maturity Model Webinar

Podcast on moving up the Maturity curve by David Upton

Link: PodChats for FutureCFO: Moving up the FP&A
maturity curve - FutureCFO

The FP&A Maturity Model is a guide presented by the

Association for Finance Professionals Link: The FP&A
Maturity Model (futurecfo.net)

Financial Planning & Analysis and Performance

Management book by Jack Alexander, Chapter 5 provides
various FP&A Assessment tools

21
 Assessment Example
Conduct FP&A Skills Inventory Analysis:

Rate team on various financial capabilities.

Rate individual employees on various financial capabilities.

Develop a plan to improve individual and overall team skills.

Reevaluate periodically to track progress and adjust goals.

22
 Sample Stakeholder Survey
Open Ended Questions:

What would you like your FP&A team to start doing?

What would you like your FP&A team to stop doing?

Do you use the reports provided by your FP&A Team?

23
 FP&A Assessment Model
Developed by Anna Oblakova, Based on a set of questions,
you rate your current and desired state on 18 areas such as
(Tools, Reporting, Team Development, etc.):

The assessment model

rates each section on a 5-
point scale :

Lagging

Emerging

Defined

Progressive

Visionary

24 Link to Website: FP&A Maturity Assessment Model — FPANDA CLUB

25
Data Management

Budgeting/Financial Modeling

Dashboards/Reporting

Link to Full Article on FP&A Tools:

Workflow/Collaboration
4 Key Pillars of FP&A Planning Tools
 Data Management
Data Integrations - What systems does it integrate with?
Does it integrate with my EPR, CRM, and HRIS System?
How many dimensions and attributes can the tool manage?
What rules and configuration logic do they use for managing the
model?
Can the data be brought in and viewed at a transactional level?

26
 Budgeting/Financial Modeling
Data Model - What dimensions are included for modeling?
Calculation Engine - What does it use for the calculation engine
(Excel, Google Sheets, multi-dimensional modeling, other)?
Modeling Syntax - Is the syntax easy to learn?
Structure vs. Flexibility - Is the tool flexible enough to handle
your modeling needs? Does it have pre-built templates, can you
build your own templates?
Planning Model - What levels and modules does the tool have for
modeling. Revenue, headcount, expense, operational, etc?

27
 Dashboarding/Reporting
How well does the tool integrate with PPT, Google Slides, Excel,
etc.?
Can the data be easily connected with BI tools?
Can one bring in and display outside data in dashboards?
Can one create custom metrics and reports, or are you limited in
what reports are available?
How does the licensing work for sharing reports?

28
 Workflow/Collaboration
Can you create custom workflows?
Can you have multiple levels of approvals?
Can you assign a person and a date to each item in the workflow?
Do your notifications integrate with Teams, Outlook, Slack?
At what level can you leave comments, can you comment on
specific data elements?
Can you create threaded comments?

29
 The Art of Storytelling

Special thanks to Alex

Banyan and Vena
Solutions
30
 5 Key Knobs of Storytelling

1. Vulnerable Origin
2. Intention
3. Struggles & Obstacles
4. Transformation
5. A Message that Matters

31 Special thanks to Alex Banyan and Vena Solutions

 Tell Your Story

VULNERABLE ORIGIN INTENTION

Think about Harry Potter the back
cover did not talk about the
greatest wizard in the wrold it
spoke to the heart about a boy who
was an orphan living in a terrible
circumstance.
Have an intention that guides
your actions. Example of story
with a clear intention was the
Hangover

STRUGGLES & OBSTACLES TRANSFORMATION

What are the struggles & obstacles
you have faced. Every great story
tells of the struggles one has gone
through during the journey.
At the end of the story we want
to see a transformation think of
the Lord of the Rings, StarWars,
Harry Potter they all had
transformations.

A MESSAGE THAT MATTERS

A great example of building a story
around a message that matters is
Apple and Steve Jobs think different
campaign, this campaign talked
about what Apple believed in.

32 Special thanks to Alex Banyan and Vena Solutions

 Data Storytelling

Data storytelling is a methodology for

communicating information, tailored to a specific
audience, with a compelling narrative. It is the last
ten feet of your data analysis and arguably the most
important aspect.
What is Data Storytelling? | Data Stories Definition | Nugit
33
 Tips for Improving Your Presentation
1. Ask yourself on each slide/graph what is the main point
2. Eliminate all unnecessary presentation elements (bright
colors, lines, etc.)
3. Keep it simple and only cover what is necessary
4. Practice - Make time to plan out and practice what you will say
5. Join a speaking club - Great way to get comfortable presenting
6. Watch others present and take notes

34
 Presenting Resources

www.toastmasters.org - International speaking club

Join to practice giving effective presentations

Storytelling with Data - Great book on tips for

improving you data storytelling skills

www.ted.com/watch/tedx-talks
Watch presentations & take notes on what works!

Online Courses
(Linkedin/Udemy/Coursea)
35
 Strategic Frameworks

SWOT Matrix

Porter's 5 Forces

Boston Consulting Group (BCG) Matrix

PEST Framework

VRIO Famework

36
 SWOT Matrix
SWOT - SWOT stands for strengths, weaknesses, opportunities, and
threats. Consists of listing your strengths and weaknesses (internal)
and opportunities and threats in the marketplace (external).

STRENGTHS WEAKNESSES

Strong cash position No Digital storefront

Patented technology Limited product offering
Channel partnerships Quality issues

OPPORTUNITIES THREATS

International expansion New technology

Acqusitions Gov regulation
Digital storefronts Supply shortages

37
 Porter's 5 Forces
Porter's Five Forces - Porter's Five Forces is a framework that is used
to assess the attractiveness of an industry based on five competitive
forces.

Industry Competition - How much competition exists in

the industry

Potential New Entrants - Do barriers to entry exist in

the industry?

Power of Suppliers - How much power do suppliers of

inputs for your goods maintain? Does the industry have
many or one supplier?

Power of Customers - Do customers have a lot of

power over product pricing.

Threat of Substitutes - How many substitutes are

available for your product?
38
Boston Consulting Group (BCG) Matrix
BCG Matrix - The BCG matrix uses 4 quadrants to rank the
attractiveness of your products based on market share size and market
growth rate. The four quadrants are Stars, Question Marks, Cash Cows,
and Dogs.

39
 PEST Analysis
PEST Framework - PEST framework is used to assess your business
based on four major factors that could impact your business: political,
economic, social, and technological factors.

40
 VRIO Framework
VRIO Framework - The framework reviews your company's resources
through four lenses. These lens are value, rarity, imitability, and
organization.

Value - How valuable are the product(s) and/or service(s)

you provide to the marketplace?

Rare - How rare are the product(s) and/or service(s) you

provide to the marketplace?

Imitability - How easy is it for your competitors to

imitate your product(s) and/or service(s)?

Organization - How organized is your company, is it

positioned to be able to capitalize on opportunities that
exist in the marketplace?

41
 Resources to Learn More

WEBISTES

7 Business Strategy Fameworks for small Business

Top 5 Strategy Frameworks Every Business Strategist

Must Know | TSI (thestrategyinstitute.org)

Top 5 Business Frameworks according to Strategy

Consultants (business-to-you.com)

6 Business Frameworks From Top Business Strategy

Consultants - brunchwork

42
 FP&A Websites
FP&A Professionals (fpnaprofessionals.com)

FP&A Prep (fpaprep.com)

FPANDA CLUB

Home | FP&A Trends (fpa-trends.com)

The FP&A Guy (thefpandaguy.com)

FP&A Content from the Association for Financial Professionals

(afponline.org)

A list of resources for FP&A | Fipanda

43
 FP&A Courses
1. Financial Planning & Analysis Certification - Association of
Finance Professionals
2. FP&A BootCamp - Christian Wattig
3. Financial Modeling& Valuation Analyst - Corporate Finance
Institute
4. FP&A Mastery Program - Wall Street Prep
5. Become a Corporate Financial Planning Analyst - LinkedIn
Learning
6. Udemy includes courses such as
World Class FP&A Org
FP&A Foundations
FP&A: Building a Company's Budget
7. IMA's FP&A Certificate Series
8. Ilumeo.com
Corporate, Planning, budgeting, & Forecasting
44 Budgeting Best Practices
 FP&A Certificate (FPAC)

Earn the Certified Corporate FP&A Professional

and stand out in your career. This certification
helps set one apart as a qualified FP&A
professional who has earned the AFP's
prestigious FP&A Professional certification.

FP&A - Certified Corporate FP&A Professional

Sponsored by AFP (afponline.org)

45
 FP&A Bootcamp

Create analysis, forecasts, and presentations that

drive business forward. Master the essential skills of
Financial Planning & Analysis.

FP&A Prep (fpaprep.com)

Instructor: Christian Wattig

46
 CFI's FMVA

The Corporate Finance Institutes offers the Financial Modeling

& Valuation Analyst Certification Program.

Financial Modeling and Valuation Analyst

(FMVA)® | CFI
(corporatefinanceinstitute.com)

47
 FP&A Mastery

Wall Street Prep offers a course titled FP&A

Mastery that includes 8 modules covering
many of the key areas of FP&A.

FP&A Training | Financial

Planning & Analysis Course
(wallstreetprep.com)

48
 Other FP&A Courses

Building a Top-Notch FP&A

Organization | Udemy

FP&A - Financial Planning &

Analysis Foundations |
Udemy

Financial Planning &

Analysis Company's Budget
Course Online | Udemy

49
 Other FP&A Courses

Corporate Planning, Budgeting,

and Forecasting (illumeo.com)

https://www.illumeo.com/course
s/corporate-budgeting-best-
practices-training-course

50
 Other Finance Courses

Become a high-performing
finance professional

51
 FP&A Follows

Aliyyah Abdullah Bryan Lapidus, FPAC

LinkedIn LinkedIn

Nicolas Boucher Anders Liu-Lindberg

LinkedIn LinkedIn

Christian Franz Hansen Asif Masani

LinkedIn LinkedIn

Soufyan Hamid Larysa Melnychuk

LinkedIn LinkedIn

Brian Kalish, FP&A Darryl Morrissy

LinkedIn LinkedIn

52
 FP&A Follows

Stephen Newland Kathy. Svetina 🧩

LinkedIn LinkedIn

Anna Oblakova Terrell A Turner

LinkedIn LinkedIn

Chris Ortega Christian Wattig

LinkedIn LinkedIn

Carl Seidman Muhammad Zeeshan

LinkedIn Taqi | LinkedIn

53
 Common Financial Metrics (P&L)
Gross Profit Margin - Margin. after subtracting the cost of goods sold from
the revenue.
(Revenue - Cost of Goods Solds)/Revenue
Net Profit Margin - Margin after subtracting all expenses from revenue.
(Revenue - Expenses)/Revenue

Operating Profit Margin - Margin after subtracting only operating expenses

from revenue.
(Revenue - Operating Expenses)/Revenue

Earnings Before Interest Taxes Depreciation & Amortization (EBITDA)

Margin - EBITDA is a measure used to value a company that excludes
interest, taxes, depreciation, and amortization from the calculation.
(Revenue - Expenses (excluding Interest, taxes, depreciation &
amortization))/Revenue

Revenue Growth - Measures how quickly revenue has grown from one
period to the next.

(Ending Revenue/Begining Revenue) - 1

S&M Expense Ratio - Sales & Marketing expenses as a percentage of

revenue.
S&M Expenses/Revenue
R&D Expense Ratio - Research & Development expenses as a percentage of
revenue.
R&D Expenses/Revenue

G&A Expense Ratio - General & Administrative expenses as a percentage of

revenue.
54 G&A Expenses/Revenue
 Common Financial Metrics (B/S)
Net Working Capital- Margin. after subtracting the cost of goods sold from
the revenue.

Current Assets - Current Liabilities

Current Ratio- Measures the ability to meet short-term funding needs using
current assets
Current Assets/Current Liabilities

Quick Ratio - Measures the ability to meet short-term funding needs using
must liquid assets which excludes inventory.
(Current Assets - Inventories)/Current Liabilities

Debt to Equity Ratio - Measures the amount of debt the company has as a
percentage of overall equity.

Total Liabilities/Shareholder's Equity

Debt to Asset Ratio- Measures the amount of debt a company has when
compared to assets. Measures how much of the assets have been funded
through debt.

Total Liabilities/Total Assets

Days Sales Outstanding- Measures time it takes to convert sales to cash.
(Receivables/Revenue) * 365

Days Inventory Outstanding - Measures how long a company holds

inventory.
(Inventory/COGS) * 365
Days Payable Outstanding - Measures how long a company takes to pay its
creditors.
(Accounts Payable/COGS) * 365
55 20 Critical Balance Sheet Ratios Investors Must Analyze - https://www.oldschoolvalue.com
 Retail Industry Metrics
Sales Per Square Foot - Helps determine how efficient you are at using
store space.
Net Sales/Store Square Footage
Sales Per Employee - Sales generated per employee, helps with staffing
stores.

Net Sales/# of Employees

Average Order Value - Average amount a customer spends per
order/transaction.

Total Revenue/# of Orders

Customer Retention - Helps in understanding the number of customers
kept during a period.
((End of Period Customers - New Customers During Period)/Customers at
start of Period)*100

Conversion Rate - Helps you understand how many people who visited your
store/website became a customer

(# of Sales/# of vVsitors)*100
Inventory Turnover - Number of times you turned over your inventory
during a time period.

Cost of Goods Sold/Average Inventory Cost

Gross Margin Return on Investment - This tells you the profitability of
your inventory
Gross Profit/Average Inventory Cost

Shrinkage - Inventory lost due to theft, damage, or administrative errors.

56 Ending Inventory Value - Actual Inventory Value

 Service Industry Metrics
Billable Hours Leverage - Measures what percentage of hours a partner
bills of the total hours worked.
Total Billed Hours/Partner Billed Hours
Billable Headcount - Measures what percentage of headcount is billable
headcount vs. support headcount

# of Billable Employees/# of non-Billable Employees

Net Fee Revenue Per Partner - Measures the amount of revenue being
generated by each partner in the firm.

Billable Hours Per Partner * Average Hourly Rate of Partners Team

Gross Profit Per Partner - Measures the amount of Gross Profit each
partner is bringing in across their portfolio of business
Revenue Per Parter - COGS Per Partner

Average Gross Bill Rate - Measures the average billable rate across the
entire organization.

$ of Billed Work/# of Hours to Produce the Work

Total Billable Hours - This is the total number of billable hours for a time
period.

Sum of All Hours Billed

Days Sales Outstanding - Measures how long it takes to collect cash from
your sales
(Net A/R/ Sum of 12-Nonths of Net Revenue)*Days in the Year
Leverage Ratio - This metric is useful for service business that have debt.
Net Debt/TTM EBITDA
57 KPIs for service-based businesses (and formulas) - The Management Blog (beebole.com)
 Manufacturing Industry Metrics
Overall Equipment Effectiveness - Measures how effective your
equipment is at producing usable product.
Quality*Availability*Performance

Throughput - Measures how much a machine, factory, person is producing

over time.
Units Produced/Time
Capacity Utilization - Measures how much capacity you're producing from
your equipment vs. how much your equipment can potentially produce.

(Actual Output/Potential Output) * 100

Yield - This is a quality and performance KPI that measures how much of
your product is usable.

Usable Units Product/Total Units Produced

Scrap - Scrap is the material that is discarded or rejected ruing the

manufacturing process.

Scrap/Total Product Run

Availability - Measures the amount of time machines are working vs. the
total time they should be working.
Uptime/(Total Time)
Customer Return Rate - Measures what percentage of goods is returned by
your customer and not caught during your quality check process
Goods Rejected/# of Goods Delivered

On-Time Delivery Rate - Measures ability to deliver product to client on-

time
# of Work Orders Delivered Ontime/Total Work Orders
58 Top 12 Manufacturing KPIs To Track Operational Excellence (gomingo.io)
 Insurance Industry Metrics
Revenue Per Policyholder - Measures the average amount of revenue
generated per policyholder
Total Revenue/# of Policyholders
Average Cost Per Claim - The average amount paid out per claim filed by
customers.
All Claim Costs/# of Claims
Return on Surplus - Measures how much profit an insurance company can
bring in relative to the revenue it generates from its policies.

After-Tax Income & Capital Gains/Total Assets

Loss Ratio - Measures the amount paid out in policy claims vs the total
amount earned from all premiums.

Total Policy Payouts/Total Revenue from Premiums

Expense Ratio - The ratio of expenses excluding claim payouts vs total
revenue earned from all premiums.
Expenses Excluding Loss Payouts/Total Revenue from Premiums
Renewal Rate - Measures the number of customers who renew the policy
after the initial policy period is up

Customers who renew policy/Total customers

Average Policy Size - This is the average price or size of a policy during a
given time period.

Revenue from all policies/# of Policies

Underwriting Speed - A measurement of the time it takes to review a policy
and make an underwriting decision
Days in underwriting of all policies/Policies Written
59 Insurance Industry's 18 Most Critical Metrics - Guiding Metrics
 SubscriptionBusineses
Subscription Business Revenue
Revenue
Subscription Businesses (SaaS) - Revenue in a subscription
business is recurring and operates like an "Annuity" and so
understanding and valuing a subscription is business. A few key
factors play a significant role in this kind of business:

Cost to acquire the customer or "Annuity"

What does each customer pay

How long does a customer stay

SaaS Metrics Section created brought to you by Subscript the

Analytics platform for B2B Saas Teams

60
 ARR vs. CARR
𝐀𝐑𝐑 - Annual Recurring Revenue is typically calculated as money
earned over the next year from live contracts. ARR excludes
revenue that is committed but has not started booking.

𝐂𝐀𝐑𝐑 - Includes revenue that has gone live and revenue that is
booked and committed to go live and become recurring revenue.
This allows companies to more accurately reflect all revenue,
both committed and already recurring.

Use CARR when:

Growing rapidly 100% plus YOY

When you have a timing delay between booking and go live

61
 Common
SAAS
Metrics

62
 Common SaaS Metrics

Annual Recurring Revenue (ARR) - ARR is the value

of the recurring subscription revenue over the next
twelve months.

Average Revenue Per Account (ARPA) - ARPA is all

revenue (subscription, transactional, implementation)
divided by total accounts for a given period.

Billings - Billings shows the amount billed to the

customer over a certain period and will differ from
bookings.

Bookings - Metric that tells the value of signed

contracts with customers for a given period.

Burn Multiple - The burn multiple measures

efficiency and tracks how much revenue is generated
for each dollar spent.

63
 Common SaaS Metrics

CAC Payback - CAC payback is the time it takes to pay

back the cost of acquiring a customer and is usually
calculated in months.

Churn Rate - The churn rate is the percentage rate of

lost subscribers over a given period.

Customer Lifetime Value (CLV) - Customer lifetime

value is the customer's worth over the relationship's
lifetime.

Customer Retention Rate (CRR)- CRR measures

how many customers a company retains over a certain
period.

Conversion Rate - Conversion rate measures the

number of conversations a company receives from a
set of leads.
64
 Common SaaS Metrics
Gross Margin - Gross margin is the revenue received
minus the Cost of Goods Sold (COGS) related to the
item.

MRR (Monthly Recurring Revenue) - MRR shows the

monthly recurring revenue expected from all customers.

Net Promotor Score (NPS) - NPS is used to

understand customers' loyalty to a business's products
and firm.

Net Retention Rate (NRR) - NRR is the percentage of

revenue retained from existing customers over a period
of time.

Qualified Marketing Traffic - traffic that comes to

the website that is not currently a customer but could
become a customer in the future.

65
 Common SaaS Metrics

Rule of 40 - The rule of 40 is that a SaaS company's sum

of growth and profit margin should exceed 40%.

SaaS Magic Number - The SaaS magic number asks

how many dollars of revenue we create for every dollar
spent on acquiring a new customer.

SaaS Quick Ratio - The SaaS quick ratio measures the

ability to grow recurring revenue despite customer
churn.

Sales Rep Ramp - Sales rep ramp is the time it takes

your sales rep to ramp up and become fully productive
at selling.

Return on SaaS Employees (ROSE) - Rose Measures

recurring revenue dollars earned for every dollar of
employee expense.
66
 TIPS for
Aligning
SAAS
Metrics
How To Track and Analyze B2B SaaS Metrics (subscript.com)

https://www.subscript.com/the-dive/how-to-track-and-analyze-b2b-
saas-metrics

67
 Tips for Aligning & Standardizing
Align upon company-wide SaaS metrics to track
and report.

Limit Key SaaS metrics to no more than ten.

Standardize calculation method for SaaS

metrics company-wide.

Involve key stakeholders in the alignment

process.

Agree on source data for calculating SaaS metrics.

Automate tracking and reporting of SaaS metrics.

Conduct periodic reviews on key SaaS metrics.

68
 Metrics Calculated Multiple Ways
Customer Acquisition Cost (CAC) Payback - Several
methods exist for calculating CAC. Requires aligning on Sales
and Marketing Costs to include in the numerator and what
MRR and margin in the denominator.
Churn Rate - Churn can be calculated based on total revenue,
total customers, and both net and gross churn. Many different
methods exist for determining churn.
Conversion Rate - How you calculate your conversion rate
will vary depending on how you define a conversion and what
you consider a lead. Is the rate only for qualified leads or all
leads, etc.?
Average Revenue Per Account - Requires alignment on
what revenue to contain and how to calculate # of accounts
during the period.
Rule of 40 - Uses growth rate + profitability margin. The
growth rate is typically based on GAAP accounting, but several
options exist for what profit margin to use.

69
 Section 2 - Microsoft Excel

70
 Excel Shortcut Keys
Shortcut Key Shortcut Description Shortcut Key Shortcut Description

Ctrl + N Create a new workbook Ctrl + U Underline highlighted cells

Ctrl + O Open a saved workbook Ctrl + V Paste

Ctrl + S Save a workbook Ctrl + Y Redo Last action

Ctrl + A Select all content in workbook Ctrl + Z Undo last action

Ctrl + B To Bold Cell Ctrl + 1 Format cell contents

Ctrl +C Copy Ctrl + 5 Strkethrough cell contents

Ctrl +D Fill cell from data in cell above Ctrl + 9 Hide a row

Ctrl + F Search for something in workbook Ctrl + 0 Hide a column

Ctrl + G Jump to an area within workbook Ctrl + ; Enter current date in cell

Ctrl + H To find and replace cell contents Ctrl + - Delete columns or rows

Ctrl + I To italicize cell Ctrl + + Insert columns or rows

Ctrl + Shift + = Insert columns and rows

Ctrl + K Add a hyperlink to a cell

Ctrl + Shift + ~ Switch between formulas and values

Ctrl + L Open the create dialog box

Ctrl + Shift + @ Apply time formatting

Ctrl + P Print a workbook

Ctrl + T Create a table 71 Ctrl + Shift + ! Apply comma formatting

 Excel Shortcut Keys
Shortcut Key Shortcut Description Shortcut Key Shortcut Description

Ctrl + Shift + $ Apply currency formatting Alt + Page Up Move the screen toward the left

Ctrl + Shift + # Apply date formatting Ctrl + F2 Open print preview window

Ctrl + Shift + % Apply percentage formatting Ctrl + F1 Expand or collapse ribbon

Ctrl + Shift + & Place border around cells

Alt Open the access keys

Ctrl + Spacebar Select an entire column Tab Move to the next cell

Ctrl + Home Go to cell A1

F2 To edit a cell

Ctr + Shift + Tab Switch to previous workbook

F3 To paste a cell name for named cells

Ctrl + Shift + F Open fonts menu Apply absolute or relative cell

F4
references

Ctrl + Shift + O Select cells containing comments

ESC Cancel an entry

Ctrl + Up Arrow Go to top cell in current column

Enter Complete an entry

Ctrl + Down Arrow Go to last cell in current column

Alt + H + H Select a fill color

Ctrl + Right Arrow Go to last cell in selected row

Alt + H + B Add a border

Ctrl + Left Arrow Go to first cell in selected row

F9 Calculate workbooks

Ctrl + End Go to last cell in workbook

Shift + F9 Calculate active workbook

Move the screen towards the

Alt + Page Down
right
72 Ctrl + F4 Close Excel
 Microsoft Excel 365 Functions
CHOOSEROWS - Returns the rows that you specify from an
array/range of data.

Syntax: =CHOOSEROWS(array, row_num1,[row_num2],...)

Array/Range - Contains the rows to be returned and is a required input
Row_num1 - Enter the first-row number to be returned, required input
[Row_num2]... - Enter additional row numbers, 1st row required others optional

CHOOSECOLS - Returns the columns that you specify from an

array/range of data.

Syntax: =CHOOSECOLS(array, col_num1,[col_num2],...)

Array/Range - Contains the columns to be returned and is a required input

Col_num1 - Enter the first-column number to be returned, required input
[Col_num2]...- Enter additional column numbers, first required others are optional

DROP - Excludes a specified number of rows or columns from the

start or end of an array. Example dropping your headers.

Syntax: =DROP(array, rows,[Columns])

Array/Range - Range from which you will drop rows or columns

Rows - # of rows to drop, negative drops from the end of range
73 [Columns] - # of columns to drop, negative drops from the end of range
 Microsoft Excel 365 Functions
EXPAND - Expands/pads an array/range with a specified number
of rows and columns

Syntax: =EXPAND(array, rows, [columns],[pad_with)

Array/Range - This is the array/range you want to expand, required input
Rows - The # of rows to include in the expanded array and is required
[Columns] - The # of columns to include in the expanded array and is optional
[Pad-With] - The value you want to pad the range with and the default is #N/A

FILTER - Filters an array/range of data based on your criteria

Syntax: =FILTER(array,include,[if_empty

Array/Range - The array or range to filter

Include - Enter the inclusion criteria as a boolean array/range whose is the same
size as the filter array.
[If-empty] - The value to return if the filter array returns no values

HSTACK - Combine ranges/arrays together to create a larger

array/range

Syntax: =HSTACK(array1,[array2]...)

Array1 - Enter the first array/range you want to combine together

[Array2]... - Enter additional arrays/ranges you want to combine together
74
 Microsoft Excel 365 Functions
LET - Allows you to assign names to calculation results. This
means you can store intermediate calculations in your formula
and only have to reference them once.

Syntax: =LET(name1, name_value1, calcuation_or_name2,

name_value2, Calculation_or_name3...]
Name1 - Enter the name you want to use for the first value you that you are
creating. The name must start with a letter
name_Value1 - The value assigned to name1. This can be a formula, a cell range,
etc. that is assigned to name1
Calculation_or_name2
Calculation - The calculation is the last argument in the formula and includes
all the names used in the LET Function
Name2 - This is where you assign a second name to be used with the name
value if you need more than one
Name_Value2 - The value assigned to name1. This can be a formula, a cell range,
etc., that is assigned to name1
Calculation_or_name3.. - same as 2 but where you enter the third argument in
the formula or the calculation. You can have more than 3 in the formula.

75 Image from Microsoft Help within Microsoft Excel

 Microsoft Excel 365 Functions
LAMBDA - LAMBDA functions are used to create custom,
reusable functions that can be called by a name you assign the
function. The functions can be used throughout your workbook.

Syntax: =LAMBDA([parameter1, parameter2, ...,], calculation)

Parameter - A value that you want to send to the functions could be a cell
reference, a string or a number. You can include up to 253 parameters in a
LAMBDA function and this argument is optional.
Calculation - The calculation arguments is where you enter the formula you want
to execute and return as the result of the custom function you have created. This
is the last argument in the formula and is required.

For more on LAMBDA go to the blog article on my website

Excel LAMBDA Function — The FP&A Guy (thefpandaguy.com)

https://www.thefpandaguy.com/microsoft-excel/excel-lambda-
function-jb4zp

76 Image from Microsoft Help within Microsoft Excel

 LAMBDA HELPER FUNCTIONS
LAMBDA HELPER FUNCTIONS - Seven functions that are
designed to aid in creating re-usable LAMBA functions but also
serve as stand-alone functions themselves.

Functions include:

MAP
REDUCE
SCAN
MAKEARRAY
BYROW
BYCOL

If you are interested in learning more about these functions see

the blog below by Microsoft or go to my website to learn more.

Announcing LAMBDA Helper Functions (microsoft.com)

https://techcommunity.microsoft.com/t5/excel-blog/announcing-
lambda-helper-functions-lambdas-as-arguments-and-more/ba-
p/2576648

77
 Microsoft Excel 365 Functions
SEQUENCE - Used to generate a list of sequential numbers in a
arnage/array.

Syntax: =SEQUENCE(rows,[columns],[start],[step]
Rows - Enter the number of rows you want to return, is a required field
[Columns] - Enter the number of columns you want to return, optional field
[Start] - Enter the number you want to start with if not entered, starts with 1
[Step] - Enter the amount to increment each number by if not entered assumes 1

SINGLE - This function is used to return a single value with

implicit intersection.

Syntax: =Single(value)

Value - Enter the value you want to be evaluated using implicit intersection.

SORT - Used to sort a range or array.

Syntax: =DROP(array,[sort_index],[sort_order],[by_col])

Array/Range - The range/array to be sorted, required argument

[Sort_index] - The number that identifies the column or row to sort by, optional
[Sort_order] - Choose 1 ascending or -1 descending order, ascending is default
[by_col] - Used to indicate desired sort function, by row or column
78
 Microsoft Excel 365 Functions
SORTBY - Sorts a range or array using another range or array.

Syntax: =SORTBY(array,by_array1,[sort_order1],[by_array2],
[sort_order 2],...
Array/Range - The range/array that is being sorted
By_array1 - The first range/array to be sorted on
[Sort_order1] - Sort order for criteria 1, 1 for ascending, -1 for descending
[By_array2] -The second range/array to be sorted on
[Sort_order2] - Sort order for criteria 2, 1 for ascending, -1 for descending
... You can have multiple arrays and sort orders and such as 3,4,5,6, etc.

TAKE - Returns contiguous rows or columns from the beginning

or end of an array/range based on what you specify.

Syntax: =TAKE(array,rows,[columns)

Array/Range - The array/range from which to take the rows or columns

Rows - Enter number of rows to take, if from end use negative values
Columns - Enter number of columns to take, if from end use negative values

79
 Microsoft Excel 365 Functions
TEXTBEFORE - Allows you to return text before a given character
or string.

Syntax: =TEXTBEFORE(text, delimiter,[Instance_num],

[match_mode],[match_end],[if_not_found]
Text - This is the text that you want to search and is required
Delimiter - This is where you mark the point before which you want to extract the
data and is required.
[Instance_num] - The instance for which you want to extract the text by default
will extract at the first instance, a negative number starts the search from the end
[Match_mode] - Enter 0 for case sensitive, 1 for case insensitive, optional
[Match_end] - Will treat the end of text as a delimiter, by default is an exact match
[If_not_found] - Enter the value you want to return if nothing is found, optional

TEXTAFTER - Allows you to return text after a given character or

string.

Syntax: =TEXTAFTER(text, delimiter,[Instance_num],

[match_mode],[match_end],[if_not_found]

See TEXTBEFORE formula for details around each function input

as it operates the same it is just used to split text after a certain
point instead of before a certain point.

80
 Microsoft Excel 365 Functions
TEXTSPLIT - Allows you to split text strings by using column and
row delimiters

Syntax: =(text, col_delimiter,[row_delimiter],[ignore_empty],

[match_mode],[pad_with])

Text - Enter the text you want to split, required field

Col_Delimiter - This delimiter is used to spill the text across the columns and is
required
[Row_Delimiter] - Delimiter is optional and used to spill the text down the rows
[Ignore_empty] - Tell the formula what to do when you have two delimiters next
to each other and so one is empty contains no data. Use True/False, optional
[Match_Mode] - Search the text in case sensitive or case insensitive mode,
optional argument
[Pad_with] - This is the value for which to pad the result. By default it is #N/A

TOCOL - Returns an array/range in a single column.

Syntax: = TOCOL(array,[ignore],[scan_by_column])

Array/Range - Array/range that is to be returned as a column

[Ignore]- Ignore certain values, 0 - keeps all, 1 - ignore blanks, 2 - ignore errors, 3 -
ignore erros and blanks
[Scan_by_column] - by default the array is ordered by row, and you will need to
tell it you want it to order the values by column. True- Columns, False - row

81
 Microsoft Excel 365 Functions
TOROW - Returns an array/range in a single row

Syntax: = Syntax: = TOROW(array,[ignore],[scan_by_column])

Array/Range - Array/range that is to be returned as a row
[Ignore]- Ignore certain values, 0 - keeps all, 1 - ignore blanks, 2 - ignore errors, 3 -
ignore erros and blanks
[Scan_by_column] - by default the array is ordered by row, and you will need to
tell it you want it to order the values by column. True- Columns, False - rowl

UNIQUE - Returns a list of unique values from a range/array

Syntax: =UNIQUE(array,[by_col],[exactly_once]

Array/Range - The array/range from which you want to return unique list
[by_col] - This argument is optional and is used to determine how to compare data
[Exactly_once] - Optional argument that return list of data that appears only once

VSTACK - Combine/append multiple ranges/arrays into one large

vertical array

Syntax: =DROP(array1, [array2]..)

Array1 - This is the fist array you want to append to the list
[Array2].. This is the additional arrays you want to append to the list
82
 Microsoft Excel 365 Functions
WRAPCOLS - Wraps the provided range/array by columns at a
specified point to create a new array

Syntax: =WRAPROWS(Vector, Wrap_count,[pad_with])

Vector - The reference of cells to wrap
Wrap_Count - The number of values to include in each column
[Pad_with] - The value to pad with when no value is included

WRAPROWS - Wraps the provided range/array by rows at a specified

point to create a new array

Syntax: =WRAPROWS(Vector, Wrap_count,[pad_with])

Vector - The reference of cells to wrap

Wrap_Count - The number of values to include in each row
[Pad_with] - The value to pad with when no value is included

RANDARRAY - Returns a random array of numbers

Syntax: =RANDARRAY([rows],[columns],[min],[max], [whole_number]

[Rows] - The number of rows you want to return

[Columns] - The number of columns you want to return
[Min] - The minimum number you want to include in your array
[Max] - The maximum number you want to include in your array
[Whole_number] - True - returns a whole number, false - decimal
83 values
 Microsoft Excel 365 Functions
XMATCH - searches for an item in a range/array, returns position

Syntax: =XMATCH(lookup_value,lookup_array,[Match_mode],
[Search_mode])
Lookup_value - The value you want to lookup in your array
Lookup_array - The range/array to search in for the lookup value
[Match_mode] - Match type, 0 - exact, -1 exact or next smallest, 1- exact or next
largest, 2 - wildcard match
[Search_mode] - 1 - search first to last, 2 - search last to first, 2 and -2 binary

XLOOKUP - Used to find something in a range/array

Syntax: =XMATCH(lookup_value,lookup_array,return_array,
[if_not_found],[Match_mode],[Search_mode])

Lookup_value - The value you want to lookup in your array

Lookup_array - The range/array to search in for the lookup value
Return_array - The range/array to return the value from
[If_not_found] - Enter text you want displayed when no value is found
[Match_mode] - Match type, 0 - exact, -1 exact or next smallest, 1- exact or next
largest, 2 - wildcard match
[Search_mode] - 1 - search first to last, 2 - search last to first, 2 and -2 binary

84
 Excel Tabular Data Structure

The Data format for analyzing data in excel

should be structured as follows (Tabular Data):

1. Column headers in one row.

2. Each data record is in one row, and each row

contains a complete record set.

3. No blank rows in the data.

4. No subtotals throughout the data or totals at the

end.

5. Each field/column houses its own type of data (i.e.,

Month, Product, amount, geographic region, etc.).

6. A single Column should never contain more than

one type of data.

85
 Excel Table Benefits
Takes an array or range of data and turns it into a
“structured data set” .

Works in Excel 2007 or later.

Creating a table tells Excel that a data set is related

together.

Understanding and using tables is a necessary part of

learning Power Query.

Tables make managing and analyzing your data easier,

including sorting, filtering, updating, and analyzing data
in Pivot Tables.

Excel Tables are the beginning of your structured data

journey, which helps prepare you for data modeling.

86
 Excel Table Layout

87
 Excel Table Design Menu

88
 Table Nomenclature

Tables are similar to named ranges in that they can have no spaces in the name
but can have _ and . in the name. For example, the above table is named
Data.CP. Similar to named ranges you can reference table names in excel
formulas.

Table Headers – Table headers use the nomenclature of the table name so in this
case = Data.CPG[Headers] in a cell would reference all six header rows in the
above example. If I wanted to reference the first column header Sku name I
would write = Data.CPG[[#Headers],[sku name]].

If I needed to reference the data in a specific column, I would type the table name
= Data.CPG followed by the column name so if I wanted to reference the column
period, I will write Data.CPG[Period].

This type of structured referencing makes creating calculated columns easy. For
example, say I need to add a new column called ASP, and I need to multiply the
Quantity column x the Price column in a new column labeled ASP I would write =
[Quantity]*[Price] and it would automatically calculate the answer in every row
within that column.

89
 Power Query

90
 Power Query

Power Query is an ETL (Extract Transform Load) Tool:

Designed to combine files together.

Designed to clean & transform files.

Designed to automate the refresh process.

91
 Power Query Interface
Power Query opens inside Excel as a separate window. When
Power Query is open, you cannot work on your Excel
worksheet.

92
 Power Query Menus

The first part of the Data ribbon in Excel is

related to Power Query and is focused on
helping you load data to Power Query. The
second pane lets you refresh your data and
access your queries in Power Query.

The Home menu in Power Query contains some

of the most common functions and features in
Power Query, including loading your data, adding
and removing columns and rows, performing
fundamental transformations, and options for
combining data together (Merge & Append).
93
 Power Query Menus
The Transform menu is used to perform general transformations
such as grouping your data, using the first row as a header, splitting
columns or performing basic math operations on your data.

The Add Column menu provides options for adding

columns to your data. You can add an index column,
conditional column, duplicate a column or extract
data from an existing column, and more.

The View menu provides an

option for seeing the M code
behind the query, a diagram
of how all queries are related
together and various options
for setting up different views
94
in the the query pane.
 Excel Follows

Leila Gharani Kat Norton

LinkedIn LinkedIn

Oz Du Soleil John Michaloudis

LinkedIn LinkedIn

Jon Acampora Jordan Goldmeier

LinkedIn LinkedIn

Mynda Treacy Brian Jones

LinkedIn LinkedIn

Cris Dutton Matt Britian

LinkedIn LinkedIn

95
 Excel Websites
Exceljet | Work faster in Excel – This website does a
great job of providing guidance on every function
available in Excel today.

Welcome to Chandoo.org – Learn Excel, Charting

Online – One of the most popular Excel websites on
the internet.

Excel Tips & Solutions Since 1998 - MrExcel – Bill

Jellen runs the MrExcel website and has published
over 300 books on Excel. His site includes one of
the biggest and best message boards.

Excel Easy – #1 Excel tutorial on the net (excel-

easy.com) – This website has great tutorials on
learning Excel from the basics through VBA.

Excel Campus – Master Excel. Dominate Deadlines.

– Includes a number of tutorials and free
resources for learning Excel.
96
 Excel Websites
Xelplus - Leila Gharani – Includes over 300 tutorials
on Microsoft Office, Google Sheets. Her primary
focus Is on Excel and she is my favorite Excel
teacher, runs a highly successful Excel YouTube
channel.

Microsoft Excel, Word and Outlook Online Training

Courses (myonlinetraininghub.com) – This website
has a great blog and free resources for learning
Excel and Microsoft office.

How To Excel | Master Excel – Hosted by John

MacDougall and he has a lot of great blog
articlesfor learning Excel and other Microsoft
products including Power Automate.

Excel Blog (microsoft.com) – This is the official

Microsoft Excel Blog website and will have details
on latest updates to Microsoft Excel.

97
 Excel YouTube Channels
Mike Excel is fun Girvin (ExcelIsFun - YouTube) - the channel has
nearly 3,500 videos. He has 100’s of playlists, including full free
courses he teaches at his local college. His videos include
everything from beginner to highly advanced concepts.

Leila Gharani (Leila Gharani - YouTube) – has over 1.5M

subscribers and 400 videos. Outstanding teacher who has the
ability to explain difficult concepts and make them seem easy.

Bill Jelen (MrExcel.com - YouTube) – Has over 2,200 videos on

Excel, and every weekday releases a 2-minute video showing a
brief tip or trick to improve your Excel skills.

Chandoo (Chandoo - YouTube) – Contains hundreds of videos

on various Excel subjects from simple tips and tricks to how to
build dashboards, budget trackers and more.

ExcelJet (Exceljet - YouTube) – Contains hundreds of short videos

(2-5 Minutes) on various Excel topics. Great way to learn a new
tip or trick every day.
98
 Section 2 - Financial Modeling

99
 Financial Modeling Skills
Understanding of accounting

Strong Excel/spreadsheet skills

Ability to read financial statements

Understanding of how to link 3-financial statements

Attention to detail

Presentation skills

Analytical skills

Problem-solving

Forecasting

Ability to simplify complex things (Formulas, models,

assumptions)
100
 Financial Modeling Design Principles
Plan and design your model upfront.

Include an assumptions tab - ask the right questions.

Limit file size by using best practices.

Never hardcode data into your formulas.

Structure the file (inputs, calculation, outputs).

Include a cover page, executive summary, and table of

contents.

Use schedules (Working Capital, Debt, etc.).

Build a scenario section for your model.

Use color-coding to distinguish (inputs, links, calculations).

Keep formulas simple.

101
 Common Types of Financial Models
Financial models can be used for many different purposes
but some of the most common types of financial models
include:

Integrated 3- Statement Model

Discounted Cash Flow

Merger & Acquisiton Model (M&A)

Budget/Forecasting Model

Consolidation Model

Options Pricing Model

Company Comparables Model

Project Model

102
 Profit & Loss Statement

Revenue - COGS - Expenses = Profit

Revenue: Money generated from your product(s).

Cost of Goods Sold (COGS): Direct costs necessary to produce

your product.

Gross Profit: Profit after subtracting the Cost of Goods Sold

(COGS).

Operating Expenses: Expenses incurred in the normal

operation of the business.

R&D: Expenses related to research & Development of

product
G&A: General & Administrative expense such as finance,
legal, management team
S&M: Expenses related to selling & marketing of product,
such as sales commissions

Operating Income: Income after subtracting out cost of gods

sold and all operating expenses

Net Income - Income after all expenses

103
 Scenario Planning

Brainstorm - Start by coming up with multiple different

1 scenarios that you believe could happen for your business.

Choose Scenarios - After discussing various scenarios

choose which scenarios to model. This can start with
2 ranking scenarios based on which ones you believe will be
most valuable to model.
Develop Model - Build the model or models that allow
3 you to compare each scenario against each other. Focus
on key drivers for each scenario.
Evaluate Scenarios & Develop Game Plan- Review each
4 scenario that you modeled in step 3 and ensure you have a
game plan for the different scenarios.
Implement Game Plan - Implement game plan for
scenario selected and continually monitor the business
5 and adjust plan or implement new scenario when
necessary.

104
 A Financial Model
Fed Reserve Definition (SR11-7) - A Quantitative method,
system or approach that applies statistical, economic, financial or
mathematical theories, techniques, and assumptions to process
input data into quantitative estimates."

Investopedia Definition - Financial Modeling is the process of

creating a summary of a company's expenses and earnings in the
form of a spreadsheet that can be used to calculate the impact of
a future event or decision.

Danielle Stein Fairhurst Definition - A complex spreadsheet -

As long as a spreadsheet has financial inputs and outputs, and is
dynamic and flexible, I'm happy to call it a financial model!

Profit Frog Definition - A spreadsheet or application that helps

us develop forecasts for business decisions so we can make the
decision that optimizes our profits.

105
 Profit Frog Series

What is Profit & Loss (P&L) and How to Use It Effectively in

your Business

What is a Financial Model? A Guide to Financial Modeling

What is a Scenario Planning Template and How Can I use it?

Learn more at ProfitFrog.com

106
 Financial Modeling Books

107
 Finacial Modeling Online Resources
Financial Modeling Knowledge Hub

Full Stack Modeler - "Promises to transform your

modelling skill set"

Plum Solutions - https://plumsolutions.com.au

Corporate Finance Institute (CFI) - Corporate

Finance Institute | FMVA® | CBCA™ | CMSA®

Wall Street Mojo - Investment Banking, Financial

Modeling & Excel Blog (wallstreetmojo.com)

Financial Modeling Courses & Investment Banking

Courses (wallstreetprep.com)

WSO Courses | Wall Street Oasis

Financial Modeling Certification | Financial

Modeling Institute (fminstitute.com)
108
 Financial Modeling Standards

FAST - (Flexible, Appropriate, Structured,

Transparent) - The FAST standard is structured
design rules for financial modeling.
(https://www.fast-standard.org/wp-
content/uploads/2019/10/FAST-Standard-02c-
July-2019.pdf)

SMART - The Smart methodology provides 10

guiding principles that help ensure your model is
following best practice modeling standards.
(http://info.corality.com/download-10-smart-
guidelines-for-financial-modelling)

BPMS - The Best Practice Modeling Standards is

a modeling standard produced by the
Spreadsheet Standards Review Board.
(http://www.ssrb.org/download)

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 Financial Modeling Follows

Lance Rubin Hedieh Kianyfard

LinkedIn LinkedIn

Danielle Stein Fairhurst Chris Reilly 🟢

LinkedIn LinkedIn

Giles Male Kenny Whitelaw-Jones

LinkedIn LinkedIn

Ian Schnoor, CFA, CFM Viswanathan M B

LinkedIn LinkedIn

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 Section 4 - Power BI

111
 Power BI Books

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 8 Power BI Websites
SQLBI - Site managed by Alberto Ferrari and Marco Russo two
of the most knowledgeable people when it comes to BI and
learning Dax

Guy in a Cube - The website is run by Adam Saxton and

Patrick LeBlanc and provides weekly Power BI video content

Microsoft Power BI Blog - This is the official blog by

Microsoft

Chris Webb BI Blog - Chris Webb is a Microsoft employee that

blogs about all things Power BI

RADCAD - This site was created by Reza Rad and Leila Etaali
and includes videos, blogs, books and everything you need to
learn Power BI

Excelerator BI Blog - This website is run by Matt Allington

who is an expert in Power Bi and has written a lot of great
books on the subject.
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 Section 5 - FP&A Data Scientist

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 Prophet Forecasting Algorithim

Prophet is a forecasting procedure

implemented in R and Python. It is
fast and provides completely
automated forecasts that can be
tuned by hand by data scientists and
analysts.

Prophet | Forecasting at scale. (facebook.github.io)

https: //facebook.github.io/prophet/

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 Microsoft Finn Algorthim
The Microsoft Finance Time Series Forecasting Framework, aka
Finn, is an automated forecasting framework for producing
financial forecasts. While it was built for corporate finance
activities, it can easily expand to any time series forecasting
problem!

Automated feature engineering, back testing, and model

selection.
Access to 25+ models. Univariate, multivariate, and deep
learning models all included.
Azure integration to run thousands of time series in parallel
within the cloud.
Supports daily, weekly, monthly, quarterly, and yearly forecasts.
Handles external regressors, either purely historical or
historical+future values

Microsoft Finance Time Series Forecasting Framework • finnts

https://microsoft.github.io/finnts/
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 Finance - Data Science Books

117
 Section 6 - FP&A Podcasts

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 Podcasts

FP&A Today The Financial Modeling

Podcast Podcast

The Role Forward GrowCFO

Podcast Show

The MyExcelOnline CFO Weekly

Podcast Podcast

The Finance & Accounting Being Planful

Show Podcast

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 FP&A Today 2022

120
 FP&A Today Episodes
Episode 1: Jordan Goldmeier - The Big Data FP&A Pros
Need to Know, Bad Excel Education and the Function
Everyone Should Use

Episode 2: Jack Alexader - How a Top Gun Maverick FP&A

Keeps their Seat at the Table

Episode 3: Bryan Lapidus - How to Succed in Best in Class

FP&A

Episode 4: Francesca Valli - Secrets to Awesome Change

Management in Finance

Episode 5: Gemma Davie - Leading from the Front to Score

Excellence in FP&A

Episode 6: Cameron Janke - Lessons from Moving from

Audit to FP&A, IPO, M&A and Beyond

Episode 7: Kenneth Fick - FP&A as influence without

121
Power
 FP&A Today Episodes
Episode 8: Stephanie Herbots & Zoe Cooke - Mental
health and burnout in FP&A

Episode 9: Anna Oblakova - 50 Shades of FP&A Maturity

Episode 10: Carl Seidman - FP&A as the Great Anticipator

Episode 11: Aliyaah Abdullah - How to Succeed with

Supply Chain Value

Episode 12: Kathy Svetina - The Fractional CFO's Inspiring

Guide to FP&A

Episode 13: Christian Wattig - Getting from Good to Great

in FP&A

Episode 14: Lance Rubin - Becoming the World's Next Top

Financial Modeler

Episode 15: Matthew Bernath - Host of the Financial

Modeling Podcast
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 FP&A Today Episodes
Episode 16: Jamie Genge - Winning Big with Monte Carlo
Analysis in FP&A

Episode 17: John King - Inside the Success of FP&A at

Walmart

Episode 18: Gen Z Guests - What Gen Z wants in FP&A

Episode 19: Budgeting & Forecasting - All your Budgeting

& Forecasting Questions Answered

Episode 20: Howard Tunnicliffe - How FP&A Drives

Revenue at The Economist

Episode 21: Jon Laudie - From FP&A and chill to CFO

Episode 22: Gabriella Guiterrez - Using AI to Predict

Revenues within FP&A

Episode 23: CJ Gustafson - Gaining FP&A Mastery in

123
SaaS Rocket Ships
 FP&A Today Episodes
Episode 24: Larysa Melynychuk - Becoming the Agent for
Change in FP&A

Episode 25: Nick Brignola - How FP&A Birthed $46Billion

Worth of Pharma Takeovers

Episode 26: Ben Murray - The SaaS CFO: My Career in FP&A

Episode 27: AFP Conference - FP&A Big Lessons from AFP

2022

Episode 28: Anders Liu-Lindberg - Start with Why in FP&A

Episode 29: Chris Reilly - Simplifying Private Equity and

Financial Modeling

Episode 30: Sruthi Lanka - Why Top Startups see FP&A as

Central to Strategy

Episode 31: Cole Dixon - How Cotopaxi uses FP&A in

124
its Mission
 FP&A Today Episodes
Episode 32: Joseph Clayton - The outsized role of FP&A in
big real estate deals

Episode 33: Jeff Marx - How to Land your Dream Job with a
Finance Passport

Episode 34: Data Visualization & Storytelling - All your

Questions Answered

Episode 35: Glenn Snyder - The Secrests to Building World-

Class FP&A Teams

Episode 36: 2022 Year-End - The Complete Year in Review

with Top FP&A 2023 Predictions

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 Section 6 - Other

126
 The FP&A Guy Services Offered
Contact me at pbarnhurst@TheFPandAGuy.com if you are
interested in any of the below services:

Corporate training to include Excel, Data Visualization,

Storytelling, Soft skills, Leadership, Financial and Business
Comprehension, and FP&A Training

FP&A consulting services (budgeting/forecasting, financial

model, Org Assessment, data analysis

Content creation for your finance businesses (Webinars,

Blogs, LinkedIn Posts, White Papers)

Click here to sign up for my free newsletter

127