Are you absolutely sure that the financial model you are basing your business decisions on is error-free?
Financial models have become omnipresent in the business world and are essential for decision-making.
However, you should know that according to the Institute of Chartered Accountants in England and Wales (ICAEW), approximately 90% of spreadsheets – of which financial models are a particularly complex instance – contain errors.
Knowing that, are you still sure that your last business decision based on a financial model was accurate?
I understand that it’s impossible to completely eliminate errors from financial models.
However, you can minimize the risks of errors creeping into your financial models by following financial modelling best practices and standards.
I adhere to the globally recognized FAST standards, which provide a framework for the best practices in financial modelling.
By following these standards, I ensure that my models are structured and designed in a detailed and comprehensive manner, reducing the potential for errors to occur.
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Questions you might have
Can you guarantee that your financial models are 100% error-free?
I cannot guarantee that my financial models are 100% error-free. However, I follow the FAST standards, which are globally recognized best practices for financial modelling. This ensures that my models are designed for reducing the risk of errors and improving decision-making.
You have not studied finance. How can you consider yourself a financial modeller?
Although I don’t have a formal education in finance, I’ve been building financial models for the last 10+ years, which has given me a deep understanding of the principles and concepts required for financial modelling.
Why do I need a financial modeller?
A financial modeller can help you better understand the financial implications of your business decisions, mitigate risks, and improve overall financial performance.