In this episode of Financial Modelers Corner, host Paul Barnhurst welcomes Ruby Liu, Director at KPMG Australia’s Valuation Team, to dive into intricacies of financial modeling. Having led KPMG Australia’s Sydney modeling team and worked as the head of corporate finance in the energy sector, Ruby’s vast experience spans from transactional modeling for infrastructure assets to advising clients on valuation and capital raising. Ruby Liu brings over 16 years of professional expertise in corporate finance, financial modeling, and valuations.

This episode offers practical insights on managing complex financial models, optimizing processes, and the challenges of transitioning models from transactional to operational use. Ruby’s guidance provides a valuable learning opportunity on how to build efficient and user-friendly financial models. Her deep knowledge and hands-on experience make her a key voice in the field of financial modeling.

Key takeaways from this week's episode include:

• The key differences between transactional and operational models and how to adapt them for long-term use.
• Why keeping the model user in mind is crucial for building effective financial models.
• Ruby’s top strategies for creating models that are simple, visually appealing, and efficient in calculation speed.
• Insights into the challenges of working with large, complex models and how to manage issues.
• How Ruby’s experiences at KPMG shaped her understanding of the financial modeling landscape.

Here are a few quotes from Ruby Liu:

• "The most efficient model isn’t the one with the most complex formulas, but the one that’s easy to understand and use." - Ruby Liu
• "In financial modeling, the goal is to fit the user’s purpose, not dazzle them with complexity." - Ruby Liu
• "I think AI can help build models, but we’ll still need human oversight to interpret the results." - Ruby Liu

In this insightful episode, Ruby Liu offers a masterclass in financial modeling. From her candid reflections on the pitfalls of overly complex models to the importance of keeping the end user in mind, Ruby’s practical advice is invaluable for both novice and seasoned modelers alike.

Follow Ruby Liu:

• LinkedIn - https://www.linkedin.com/in/liuruby

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In this special solo episode, host Paul Barnhurst, also known as "The FP&A Guy," reflects on key insights gathered from past episodes of Financial Modeler’s Corner. With over 40 episodes under his belt, Paul dives into recurring rapid-fire questions posed to expert financial modelers worldwide. From circular references to VBA use and Excel's future, this episode offers valuable wisdom on the art and science of financial modeling.

Paul Barnhurst, an accomplished financial modeling professional and host of the podcast, takes center stage. Paul is the founder of “The FP&A Guy” and has earned the prestigious Advanced Financial Modeler (AFM) certification from the Financial Modeling Institute (FMI). His wealth of experience and insights makes this solo episode both engaging and informative.

Key takeaways from this week's episode include:

• The most common preferences of expert financial modelers on key technical decisions.
• Why dynamic arrays and other Excel functions are becoming increasingly important, and the pace of their adoption.
• Insights into how artificial intelligence (AI) could impact financial modeling and whether it will replace human modelers.
• The importance of good design principles in financial models, as shared by leading financial modeling experts.
• Fun and practical Excel shortcuts used by seasoned modelers to boost efficiency and accuracy.

Here are a few quotes from Paul in this episode:

• "Circular references are dangerous because most people don’t really understand what’s going on, and it can lead to other errors in your model." - Paul Barnhurst
• "If at all possible, don’t use VBA in your model. The less you use it, the simpler the model is." - Paul Barnhurst
• "I’m of the belief that AI will build models for us. It’s a question of when, not if." - Paul Barnhurst

In this special solo episode, Paul Barnhurst takes a moment to reflect on the lessons learned from over 40 episodes of Financial Modeler’s Corner. He shares key takeaways from the rapid-fire questions posed to some of the top financial modelers in the world, offering a wealth of advice on best practices, common pitfalls, and emerging trends in financial modeling. As always, he invites listeners to reach out with feedback, questions, and guest suggestions, reinforcing the show's commitment to fostering a global community of financial modeling enthusiasts.

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• LinkedIn - https://www.linkedin.com/in/thefpandaguy 
• YouTube - https://www.youtube.com/@thefpaguy8376 

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In this episode of Financial Modelers Corner, host Paul Barnhurst welcomes Paul Medici, founder and CEO of Medici Financial Modeling. They dive into the art and science of financial modeling, sharing horror stories, insights, and practical tips on how to avoid common pitfalls. The discussion revolves around the importance of simplicity and structure, and how mastering the fundamentals can save time and deliver better results.

Today’s guest is Paul Medici, the Founder and CEO of Medici Financial Modeling. With over a decade of experience, Paul specializes in building bespoke financial models and custom data automation tools for corporate clients across the US, Canada, and Europe. His expertise spans a wide range of industries, including financial services, healthcare, manufacturing, mining, real estate, retail, technology, and even charitable organizations. He holds an MBA from the University of Toronto and a Master’s in Geological Science and Engineering from Queen’s University.

Key takeaways from this week's episode include:

• The most common mistakes in bad financial models and how to avoid them.
• How a background in geology led Paul Medici to a career in financial modeling.
• The importance of understanding revenue and cost build-ups in different industries.
• Why practicing financial modeling on personal projects can enhance your skills.
• Key shortcuts and techniques to speed up your Excel modeling process.

Here are a few quotes from Paul Medici:

• "All bad models have one thing in common: they're not user-friendly, difficult to update, and time-consuming." - Paul Medici
• "Most corporate models start simple but turn into 'Frankenstein' models over time as people add complexity." - Paul Medici
• "If you're thinking about financial modeling, practice by building models for everyday tasks like personal budgets." - Paul Medici
• "The key to mastering financial modeling is understanding how the financial statements and supporting schedules link together." - Paul Medici

From his early career in geology to teaching advanced Excel at top investment banks, Paul brings a wealth of knowledge to the conversation. He emphasizes the importance of building user-friendly models, practicing regularly, and finding the right balance between complexity and functionality.

Follow Paul Medici:

• Website - https://medicifinancialmodeling.com/
• LinkedIn - https://www.linkedin.com/in/paulmedici/

Follow Paul:

• Website - https://www.thefpandaguy.com  
• LinkedIn - https://www.linkedin.com/in/thefpandaguy 
• YouTube - https://www.youtube.com/@thefpaguy8376 

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