Training Courses

Deal Model to Operational Model Mastery

Turn a transaction model into an operating model for asset management. Master the systematic, best-practice techniques to convert a deal model into an operational model, incorporating actuals, implementing signed debt agreements, and testing that the result forecasts correctly.

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1 dayPractitioner-led
Hands-onYou convert the model,
not watch one being converted
In person or digitalDelivered in person
and worldwide online
Take awayThe completed model files
and templates

Who this is for

For anyone who inherits a model at financial close

This course is for anyone who needs to update, build, review or analyse operational models: project sponsors, bankers, advisors, and the analysts and managers who take a deal model past financial close.

Working confidence in Excel and an existing understanding of financial modelling are assumed. Typical attendees are analysts, managers, senior managers and associate directors.

You will get the most from this course if

You need to convert a deal model into an operational model after financial close
You want a structured way to incorporate actuals and historic accounting data into a forecast
You need to implement signed debt agreements and freeze debt terms within an operational model
You review, update or analyse operational models as part of your role

What you will learn

From deal model to operational model, systematically

Six modules take you from the principles that separate a deal model from an operational model through to testing and checking the converted model forecasts correctly.

Master proven modelling technique

Work with our powerful, easy to follow financial modelling methodology
Discuss and identify good versus bad modelling technique using real-life examples
Increase consistency across your team in calculation technique and presentation

Operational models and their uses

Understand why assets require operational models following financial close
Outline the importance of update process management for keeping an operational model current
Learn when an operational model is needed, and when it should be thought about

Financial close models and ‘actuals’

Discuss common issues found when converting financial close models to operational models
Understand our best-practice approach to incorporating historic financial information into the model
Develop an interface between an accounting system data dump and the model, to incorporate historic information easily
Convert accounting data into the level of detail required for forecasting, and reforecast from the historic financial information obtained

Beyond the accounting system

Understand the additional information required for tax computations, and how to incorporate it
Update depreciation calculations and incorporate historical capital expenditure
Clean up the model and remove legacy calculations, identifying redundant sections as you transition from deal model to operational model
Fix errors logically as redundant calculations are removed, and remove items required for financial close but no longer needed operationally

Implementing signed debt agreements

Discuss common reporting requirements for key stakeholders, and how to ensure the model reports these correctly
Automatically calculate historic DSCR values, and understand the challenges created by differences between accounting data and actual cash flows
Adapt the debt repayment schedule within the model, adjusting for a change in the drawdown profile
Learn the requirement for freezing debt size, debt repayments and debt interest

Testing and checking the model

Implement key checks so stakeholders can have confidence the model is reforecasting correctly from the historical data entered
Perform tests that ensure all historical information has been considered and incorporated
Identify issues within testing and debug these errors
Develop a comparison tool to analyse the difference between financial close and reality

Next available dates

Upcoming courses

How the course runs

You learn by converting a real model

Interactive, instructor-led and built on a single modelling standard that has been taught to more than 20,000 people. You convert the model yourself with individual coaching through every exercise, and you keep the completed files.

This course also runs privately: see in-house training for delivery built around your team and sector, or browse the full course portfolio.

Our trainers

Learn from a practitioner

Our courses are led by experienced members of our financial modelling and model audit teams. The trainers below run this course frequently, but your session could be led by any member of our team.

Joshua Grimm

Director, Singapore

Joshua leads the development and delivery of financial modelling training courses for Forvis Mazars in Asia. His expertise covers areas such as project finance modelling for large-scale renewable energy, utilities and infrastructure projects, as well as corporate finance modelling for M&A transactions and internal FP&A. He has supported clients with their projects from feasibility through financial close, all the way to operations.

Alex Portnoy

Partner, Sydney

Alex leads the financial model development team in the APAC region. He has 19 years of financial modelling experience, with a focus on M&A transactions, valuations and corporate and operational business reporting. His experience spans many aspects of a transaction, having worked on the developer, bidder and vendor side of projects. Alex’s recent project sectors include natural resources, energy, utilities and property development.

Leigh Tomlinson

Director, London

Leigh is an ACA chartered accountant with over 16 years of financial modelling experience. He has a wide range of sector and international deal experience, and is responsible for leading the development of financial models across the energy, infrastructure and environment sectors.

Contact our training team

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