FINANCIAL STATEMENT MODELING
QUESTIONS WITH CORRECT ANSWERS 2025
FSMMisMaM______MmodelMforMcommonMmodelsM(DCF,MLBO,MComps)M-MCORRECTMANSWERM-Foundational
ExcelMFormatMNumbersMFirstM;MSecondM;M-MCORRECTMANSWERM-
formattingMforMwhenMaMnumberMis:Mpositive,Mnegative,MwhenMzero
ColorMCoding
1.MHardMcodedMInputs
2.MFormula/calculations
3.MLinksMtoMotherMworksheets
4.MLinksMtoMotherMfiles
5.MLinksMtoMdataMprovidersM-MCORRECTMANSWERM-1.MBlue
2.MBlack
3.MGreen
4.MRed
5.MDarkMRed
WhatMdoesMF9Mdo?M-MCORRECTMANSWERM-
IfMyou'reMlookingMatMaMcalculationMitMrunsMitMandMgivesMyouManswer.MRememberMnotMtoMhardMcodeMitMin.
..
ShouldMyouMuseMnamedMranges?
linkMtoMfiles?M-MCORRECTMANSWERM-No,MtheyMcreateMissues.
AvoidMifMpossible
ManyMshorterMtabsMorMFewerMlongerMtabs?M-MCORRECTMANSWERM-FewerMLonger
WhatMdoMyouMneedMtoMrunMaMFinancialMStatementMModel?
1.M______,M______,MandM_________
, 2.M_______MandM______
3.MlastM_M______'sMofM_____
4.MForMquarterlyMmodelsMandMLTMMcalculationsM-MCORRECTMANSWERM-1.M10-
K,M4thMquarterMpressMrelease,McallMtranscript
2.MEquityMresearch/MEPSMconsensusMestimates
3.MmonthsMofMnewsM(stockMsplits,Macquisitions,MmaterialMitems)
4.MlastM3M10-Qs,MPressMrelease,MandMcallMtranscript
WhatMisMaMPIB?M-MCORRECTMANSWERM-PublicMinformationMbook-
MusedMtoMgatherMallMdataMonMaMcompanyMandMspreadMaroundMtheMteam.
ModelingMOrderM(FinancialMstatements)M7Msteps.M-MCORRECTMANSWERM-1.MHistoricalMIS
2.MForecastMIS
3.MHistoricalMBS
4.MForecastMBS
5.MCashMFlowMStatement
6.MCreateMPlugs
7.MModelMerrorMproofing/Menhancements
WhatMisMtheMrollMforwardMapproachMofMBaseMCalculationMapproach?M-MCORRECTMANSWERM-
StartMwithMbeginningMofMperiodM(lastMendMofMperiod),MlookMforMchanges,MtoMgetMyourMendMofMperiodMEO
P/BOP
HowMdoMweMbeginMBalanceMSheetMForecasting?M-MCORRECTMANSWERM-ForecastMWorkingMCapitalM
1.MAccountsMReceivable
2.MInventory
3.MAccountsMPayable
4.MAccruedMexpensesM&MdeferredMrevenueM(canMgetMdetailledMbreakoutMofMAccruedMexpensesMfromM10-
k)
QUESTIONS WITH CORRECT ANSWERS 2025
FSMMisMaM______MmodelMforMcommonMmodelsM(DCF,MLBO,MComps)M-MCORRECTMANSWERM-Foundational
ExcelMFormatMNumbersMFirstM;MSecondM;M-MCORRECTMANSWERM-
formattingMforMwhenMaMnumberMis:Mpositive,Mnegative,MwhenMzero
ColorMCoding
1.MHardMcodedMInputs
2.MFormula/calculations
3.MLinksMtoMotherMworksheets
4.MLinksMtoMotherMfiles
5.MLinksMtoMdataMprovidersM-MCORRECTMANSWERM-1.MBlue
2.MBlack
3.MGreen
4.MRed
5.MDarkMRed
WhatMdoesMF9Mdo?M-MCORRECTMANSWERM-
IfMyou'reMlookingMatMaMcalculationMitMrunsMitMandMgivesMyouManswer.MRememberMnotMtoMhardMcodeMitMin.
..
ShouldMyouMuseMnamedMranges?
linkMtoMfiles?M-MCORRECTMANSWERM-No,MtheyMcreateMissues.
AvoidMifMpossible
ManyMshorterMtabsMorMFewerMlongerMtabs?M-MCORRECTMANSWERM-FewerMLonger
WhatMdoMyouMneedMtoMrunMaMFinancialMStatementMModel?
1.M______,M______,MandM_________
, 2.M_______MandM______
3.MlastM_M______'sMofM_____
4.MForMquarterlyMmodelsMandMLTMMcalculationsM-MCORRECTMANSWERM-1.M10-
K,M4thMquarterMpressMrelease,McallMtranscript
2.MEquityMresearch/MEPSMconsensusMestimates
3.MmonthsMofMnewsM(stockMsplits,Macquisitions,MmaterialMitems)
4.MlastM3M10-Qs,MPressMrelease,MandMcallMtranscript
WhatMisMaMPIB?M-MCORRECTMANSWERM-PublicMinformationMbook-
MusedMtoMgatherMallMdataMonMaMcompanyMandMspreadMaroundMtheMteam.
ModelingMOrderM(FinancialMstatements)M7Msteps.M-MCORRECTMANSWERM-1.MHistoricalMIS
2.MForecastMIS
3.MHistoricalMBS
4.MForecastMBS
5.MCashMFlowMStatement
6.MCreateMPlugs
7.MModelMerrorMproofing/Menhancements
WhatMisMtheMrollMforwardMapproachMofMBaseMCalculationMapproach?M-MCORRECTMANSWERM-
StartMwithMbeginningMofMperiodM(lastMendMofMperiod),MlookMforMchanges,MtoMgetMyourMendMofMperiodMEO
P/BOP
HowMdoMweMbeginMBalanceMSheetMForecasting?M-MCORRECTMANSWERM-ForecastMWorkingMCapitalM
1.MAccountsMReceivable
2.MInventory
3.MAccountsMPayable
4.MAccruedMexpensesM&MdeferredMrevenueM(canMgetMdetailledMbreakoutMofMAccruedMexpensesMfromM10-
k)