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Financial modelling and forecasting

Find out more about building financial models, the pitfalls of financial modelling and how to carry out effective forecasting.

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  • Articles and books in the Library collection

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Featured article 

Demolishing uncertainty
On the basis of research involving 25,000 forecasters and a million predictions, the authors identified a set of practices that can improve companies’ prediction capability: providing training in the basics of statistics, assembling teams of forecasters, tracking performance and giving feedback.

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Featured guide

Financial modelling code
(ICAEW, 2018)
Building on the earlier guide, the Twenty principles for good spreadsheet practice, this thought leadership guide from ICAEW's IT Faculty sets out guidance on what the Faculty sees as the universal tenets of best practice in the field.


The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Hands-on financial modeling with Microsoft Excel 2019: build practical models for forecasting, valuation, trading, and growth analysis using Excel 2019

This book will help you understand financial modeling concepts using Excel, and provides you with an overview of the steps you should follow to build an integrated financial model.

Using Excel for business and financial modelling: a practical guide (3rd edition)

A hands-on guide to using Excel in the business context. Contains step-by-step instructions of how to solve common business problems using financial models, including downloadable Excel templates, a list of shortcuts and tons of practical tips and techniques you can apply straight away. Formerly titled Using Excel for business analysis.

Principles of financial modelling: model design and best practices using Excel and VBA

A practical guide to financial modelling, demonstrating how to plan, design and build financial models.

Showing 3 of 18 items

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Volatility forecasting using financial statement information

This paper examines whether financial statement information can predict future realized equity volatility incremental to market-based equity volatility forecasts. The paper uses an analytical framework to identify accounting-based drivers of realized volatility.

What's in your leadership toolbox?

Finance teams have been moving from counting wealth and policing compliance to creating wealth and strategy, so they need to broaden and upgrade some of their skills. As well as traditional finance functions, senior finance executives and their teams are now often expected to do financial modeling, data analytics, consider cyber security, risk management and more. The authors present their framework to help finance executives develop their leadership abilities.

A practical guide for non-financial companies when modeling longer-term currency and commodity exposures

Provides guidance on implementing long-term risk modelling to manage business risk. It discusses selection methods for simulating future prices and rates, a method for back testing risk models, and a method for estimating earnings at risk.

Showing 3 of 9 items

Articles and books in the Library collection

Financial modelling
(ICAEW, 2016)
Best-practice guideline from ICAEW's Corporate Finance Faculty, aimed at corporate financiers who need to prepare, use or review financial models for deals.

Next generation Excel modelling in Excel for analysts and MBAs (for Windows and Mac OS) 
(John Wiley & Sons, 2013)
Covers advanced business decision making, financial, and accounting functions. The book demonstrates how to create models to boost efficiency and improve your forecasting ability.

Business and financial models 
(Kogan Page, 2013)
A step-by-step guide to building a financial model, from formulating questions to monitoring performance. .

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