Financial Modelling and Forecasting Training Course

Duration 5 days 10 modules · 33 contact hours
Level Intermediate Certificate on completion
Who attends Financial Analysts, FP&A Analysts and others
Fee from USD 1,100 KSh 95,000 for Kenyan organisations
Where 52 cities + online See dates by city
Next start 9 Nov 2026 Course code SD-FM-051

Before you join: Participants should understand basic financial statements, including revenue, operating costs, depreciation, receivables, payables, inventory, debt and cash flow.

Dates & prices

Two start dates a month in every city, and live online on weekdays or weekends. Fees are per participant; classroom fees include tuition, materials, lunch and refreshments, and the certificate.

Suggest a date or city

Showing the next six months. Later dates, other cities and private deliveries for your team are available on request.

Course overview

Financial models are used to convert operating assumptions into decisions on budgets, funding, investment, pricing and performance. Yet many planning models fail under review because assumptions are unclear, formulas are inconsistent, cash is disconnected from profit, or outputs cannot be traced to source data. Finance professionals need models that explain what drives results, test uncertainty and withstand management, lender and audit scrutiny.

This course develops practical financial modelling and forecasting capability for planning, analysis and decision support. Participants build integrated profit and loss, balance sheet and cash flow forecasts; translate commercial and operational drivers into assumptions; model working capital, capital expenditure, debt and tax; and prepare scenario, sensitivity and break-even analyses. The course also addresses model structure, formula discipline, error checking, presentation and documentation. Participants learn to interpret model outputs and communicate the financial implications of different operating choices.

Teaching combines concise instructor briefings with guided model builds, financial cases, peer review and decision simulations. Cases reflect situations such as a manufacturer funding capacity expansion, a bank assessing a borrower forecast, and an NGO planning restricted-fund cash requirements. Participants leave with a structured Excel-based three-statement forecast model, a driver-assumption register, scenario analysis templates and a model review checklist. The five-day course is available as classroom training in more than 50 cities or live online, running from 08:30 to 16:30 each day, with approximately 6.5 contact hours daily. A certificate of completion is issued.

The course suits finance staff who already work with budgets, management accounts or spreadsheets and now need to create, challenge or review decision-ready forecasts.

What you will be able to do

  • Build an integrated three-statement financial model from operational assumptions
  • Construct driver-based revenue, cost and working capital forecasts
  • Prepare a 13-week rolling cash forecast and liquidity analysis
  • Model capital expenditure, depreciation, debt schedules and tax effects
  • Apply scenario, sensitivity and break-even analysis to management decisions
  • Use Excel modelling conventions, controls and audit checks to improve reliability
  • Interpret forecast variances and reconcile actual results to revised assumptions
  • Present forecast outputs, risks and recommendations through management reporting

Benefits of attending

For you

  • Build forecasts that connect commercial assumptions to cash and financial statements
  • Identify formula errors, circular references and unsupported assumptions before review
  • Explain downside cases and funding implications with clear numerical evidence
  • Reduce time spent rebuilding monthly forecasts through reusable model architecture
  • Contribute credibly to budget, investment and financing decisions

For your organisation

  • More consistent forecasting models across planning, treasury and business finance teams
  • Earlier visibility of cash shortfalls, covenant pressure and funding requirements
  • Clearer links between operational drivers and reported financial outcomes
  • Faster management challenge through documented assumptions and scenario outputs
  • Reduced model risk from standard checks, version control and review discipline

Course modules

10 modules over 5 days

Participants can design a clear, controlled workbook structure for financial forecasting.

  • Purpose, users and decision questions defined before model construction
  • Inputs, calculations and outputs separated using consistent worksheet architecture
  • Model timeline aligned with monthly, quarterly and annual reporting periods
  • Sign conventions, units and number formats established across linked schedules
  • Excel absolute, relative and mixed references applied without formula drift
  • Named ranges, data validation and input cells used for controlled assumptions

Participants can translate operating assumptions into transparent revenue and cost forecasts.

  • Driver trees link volume, price, mix and retention assumptions
  • Revenue forecast built from units, pricing, timing and contract terms
  • Seasonality indices applied to monthly sales and service demand
  • Cost behaviour separated into fixed, variable and step-cost components
  • Headcount plan converted into salary, benefit and recruitment costs
  • Assumption register records sources, owners, dates and confidence levels

Participants can prepare a driver-based profit and loss forecast with explainable margins.

  • Gross margin forecast reconciled to pricing and direct-cost drivers
  • Operating expenses phased using contractual, headcount and activity assumptions
  • EBITDA, EBIT and net profit calculated through linked schedules
  • Depreciation and amortisation distinguished from cash operating expenditure
  • Forecast margin bridges explain changes from prior period results
  • Actual-versus-forecast variance analysis separates volume, price and efficiency effects

Participants can forecast balance sheet accounts and quantify working capital cash effects.

  • Receivables forecast using days sales outstanding and credit policy
  • Inventory plan derived from turnover, lead times and safety stock
  • Payables forecast linked to purchases, payment terms and supplier agreements
  • Accruals, prepayments and provisions projected using appropriate operating drivers
  • Balance sheet roll-forwards reconcile opening balances, movements and closing balances
  • Cash conversion cycle calculated from receivables, inventory and payables days

Participants can prepare direct and indirect cash forecasts for liquidity management.

  • Indirect cash flow constructed from profit and balance sheet movements
  • 13-week rolling cash forecast built from receipts, payroll and supplier data
  • Cash receipts scheduled by invoice timing, collection patterns and bad debts
  • Payment calendar incorporates payroll, tax, suppliers, debt and capital expenditure
  • Minimum cash thresholds compared with forecast balances and facility availability
  • IAS 7 cash flow classifications applied to operating, investing and financing flows

Participants can model financing, investment and tax schedules within an integrated forecast.

  • Capital expenditure schedule phases approvals, commitments, payments and asset commissioning
  • Depreciation forecast applies useful lives, residual values and commissioning dates
  • Debt schedule models drawdowns, repayments, interest and maturity profiles
  • Interest expense calculated using opening balances, rates and repayment timing
  • Covenant ratios tested against EBITDA, debt service and liquidity requirements
  • Tax forecast incorporates taxable profit, loss carryforwards and payment timing

Participants can link income statement, balance sheet and cash flow forecasts accurately.

  • Income statement, balance sheet and cash flow linked through schedules
  • Balance sheet check confirms assets equal liabilities plus equity
  • Retained earnings roll-forward connects profit, dividends and prior-period equity
  • Cash balance becomes the balancing output without artificial plugs
  • Circular references identified in debt, interest and cash sweep calculations
  • Iteration settings and switch controls managed when circularity is justified

Participants can test uncertainty and present its effect on financial decisions.

  • Base, upside and downside cases governed by distinct assumption sets
  • One-way sensitivity tables test price, volume, margin and interest-rate changes
  • Two-way data tables show combined effects of critical assumptions
  • Break-even analysis calculates volumes required to cover fixed costs
  • Contribution margin analysis informs pricing, product mix and capacity decisions
  • Decision trees compare contingent outcomes, probabilities and expected cash flows

Participants can review forecast models systematically and document model risks.

  • Formula consistency checks identify broken links, hardcodes and copied errors
  • Reasonableness tests compare margins, ratios and trends with expectations
  • Error flags highlight negative balances, missing inputs and timing mismatches
  • Version control records model owner, revision date and approved assumptions
  • Model documentation explains purpose, logic, limitations and key dependencies
  • Independent review checklist assesses inputs, calculations, outputs and presentation

Participants can communicate forecast implications and plan improvements to their current models.

  • Management dashboard presents revenue, EBITDA, cash and covenant forecast indicators
  • Waterfall charts explain movements between budget, forecast and actual performance
  • Variance commentary distinguishes facts, drivers, risks and management actions
  • Forecast narrative connects model outputs with operational decisions and accountability
  • Executive summaries state assumptions, downside exposure and required decisions
  • Application plan prioritises model improvements, data owners and review milestones

Exercises and examples are adapted to each cohort's sectors and roles.

What you take back to work

  1. Integrated three-statement forecast model template
  2. Driver-based assumption register
  3. 13-week rolling cash forecast template
  4. Capital expenditure and debt schedule templates
  5. Scenario and sensitivity analysis toolkit
  6. Financial model review checklist

Who should attend

  • Financial Analysts — build and explain forecasts supporting investment and operating decisions
  • FP&A Analysts — improve planning models, rolling forecasts and management reporting
  • Finance Managers — challenge assumptions and review models before approval
  • Management Accountants — connect budgets, actuals and revised outlooks
  • Treasury Analysts — assess liquidity, debt service and short-term funding needs
  • Investment and Credit Analysts — test borrower or project forecasts during appraisal

Skills and tools covered

Three-statement modellingDriver-based forecastingCash flow forecastingScenario analysisModel audit controlsForecast communication

Tools and standards

Microsoft Excel, IAS 7 Statement of Cash Flows, Sensitivity analysis, Decision trees

How the course runs

Training methodology

Instructor briefings introduce each modelling method before participants apply it to linked financial cases. Guided model builds develop formulas, schedules and reporting outputs in a logical sequence. Small-group reviews compare assumptions, identify model errors and challenge forecast narratives. Decision simulations use changing sales, cost, funding and working-capital conditions to test scenarios. Participants also review model extracts against control checklists and prepare an application plan for improving a current forecasting process. Delivery is instructor-led in the classroom or live online.

Requirements and prerequisites

Participants should understand basic financial statements, including revenue, operating costs, depreciation, receivables, payables, inventory, debt and cash flow. They should be comfortable using Microsoft Excel for formulas, cell references, sorting and simple charts, and should have some exposure to budgeting, management accounts or financial analysis. Prior experience building a full three-statement model is not required. Advanced Excel functions, VBA, programming, accounting qualification and prior valuation experience are not required. Participants should bring a laptop with Microsoft Excel installed where course delivery arrangements permit.

A typical training day

08:30 – 10:30First session
10:30 – 10:45Refreshment break
10:45 – 12:30Second session
12:30 – 13:30Lunch and networking
13:30 – 15:00Third session
15:00 – 15:15Refreshment break
15:15 – 16:30Workshop and daily review

Live online deliveries follow the same structure in East Africa Time, with shorter screen blocks and longer breaks.

What the fee includes

  • Instruction by a practitioner facilitator
  • Full course workbook and materials
  • Exercise files, templates and case studies
  • Refreshments and lunch on classroom deliveries
  • Certificate of completion
  • Post-course application plan

Frequently asked questions

Participants need basic knowledge of financial statements and confidence with everyday Excel formulas and cell references. The course starts with model structure and does not assume prior experience building an integrated forecast.

Participants should bring a laptop with Microsoft Excel installed where delivery arrangements permit. They may also bring a non-confidential budget, forecast or reporting example to use during application planning.

It is designed for FP&A staff, financial analysts, management accountants, finance managers, treasury analysts and credit or investment analysts. It is most useful for people who prepare, review or rely on forward-looking financial information.

This course concentrates on operating forecasts, liquidity, financial statements and management decisions rather than transaction valuation methods. Excel is used as the modelling environment, but the focus is financial logic, linked schedules and model controls rather than advanced functions or VBA.

Participants can restructure an existing budget or forecast into a driver-based, linked model and introduce clearer assumption records and review checks. The cash forecasting, scenario and reporting methods can be applied to monthly forecasting cycles, funding reviews and investment proposals.

The course runs from 08:30 to 16:30 each day, providing approximately 6.5 contact hours daily. Time is divided between instruction, guided model construction, case analysis, peer review, decision simulations and application planning.

Questions about this course?

Ask about dates, fees, group bookings or running it for your team. Our training team replies by email.

Ask on WhatsApp info@skillsetdevelopment.com

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