Basic Package: Financial Statement Modeling

An abbreviated version of the Premium Package that focuses exclusively on financial statement modeling. Trainees will learn modeling best practices and build a complete financial statement model. Valuation modeling included in the Premium Package.

Basic Package: Financial Statement Modeling

Course Description

In this Basic Package by Wall Street Prep, you will develop a 3-statement model completely from scratch, inputting historical data and assumptions to project out financial statements using step-by-step instruction on selecting, locating, and developing appropriate projection drivers. At completion, you will have developed a complete and comprehensive three-statement model using various supporting schedules.

By the end of the course, trainees will gain skills that lay the foundation for many other modeling methodologies. At completion, trainees will have developed a 3-statement model using various supporting schedules and best practices.

Course Outcomes:
  • At completion, trainees will have developed a 3-statement model using various supporting schedules and best practices.
Course Details:

Target Audience

The Basic Package is designed for students and professionals pursuing careers in investment banking, private equity, corporate finance and equity research.

Access Timeframe



The program assumes a basic introductory knowledge of accounting (e.g. interaction of balance sheet, cash flow, and income statement) and proficiency in Excel. Students with no prior background in Accounting should enroll in the Accounting Crash Course. Students with limited experience using Excel should enroll in the Excel Crash Course.
Certificate Info:

Type of Certification

Certificate of Completion

Format of Certification


Course Outline

  • Introduction
  • Excel Settings for Modeling
  • Keyboard Shortcuts
  • The Boost Excel Add-In
  • Formatting Conventions
  • Modeling Best Practices
  • Naming, Linking & Deleting Cells
  • Model Structure
  • Gathering Documents for Modeling (the “PIB”)
  • Apple Case Study Introduction
  • Modeling the Historical Income Statement, Part 1
  • Modeling the Historical Income Statement, Part 2
  • Introduction to Forecasting
  • Segment-Level Revenue Forecasting
  • Operations Forecasting
  • Inputting the Historical Balance Sheet
  • Working Capital Forecasting & Roll-Forward Mechanics
  • Accounts Receivable, Part 1
  • Accounts Receivable, Part 2
  • Inventory
  • Accounts Payable
  • Accrued Expenses & Deferred Revenue
  • Intangible Assets
  • Modeling Intangible Assets
  • PP&E
  • Modeling PP&E
  • Other Balance Sheet Assets
  • Modeling Other Current Assets
  • Deferred Tax Assets
  • Deferred Tax Liabilities
  • Other Liabilities
  • Modeling Deferred Taxes & Other Balance Sheet Items
  • Debt
  • Modeling Debt
  • Capital Stock
  • Modeling Capital Stock
  • Treasury Stock
  • Modeling Treasury Stock
  • Retained Earnings and OCI
  • Modeling Retained Earnings
  • Modeling Other Comprehensive Income
  • Linking Schedules Back to the Balance Sheet
  • Cash Flow Statement Introductions
  • Review: The Cash Flow Statement
  • Cash From Operations
  • Modeling Cash from Operations
  • Cash From Investing & Other Financing Activities
  • Modeling Cash from Investing & Other Financing Activities
  • The Lemonade Stand
  • Understanding the Role of the Revolver in Financial Models
  • Modeling the Revolver
  • Modeling Interest Income
  • Dealing with Circularities in Financial Models
  • Integrity Checking & Balancing the Model
  • Sensitivity Analysis Using Data Tables
  • Scenario Analysis
  • Depreciation Waterfall


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