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Financial modelling and forecasting

Effective approaches to looking ahead. Use our selection of articles, reports, webinars and books to find out more about building financial models, the pitfalls of financial modelling and how to carry out effective forecasting.
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Latest on financial modelling and forecasting

Read our latest features and articles on financial modelling and forecasting.
AI: The Multi-Billion Pound Key to Unlocking UK Productivity
  • Article
  • 12 Sep 2024
A new report from Workday uncovers large businesses in the UK could save 7.9 billion employee hours per year through the use of ArtificiaI Intelligence (AI). Find out how you can embrace the future of work and consign productivity problems to the past.
Two people looking at the laptop having a conversation
Growth planning: essential steps for SMEs
  • Article
  • 22 May 2024
Successful SME growth planning involves critical appraisal, goal setting, budgeting, adaptability, and strategic partnerships. Read on to discover how to apply these strategies.
Two people looking at the laptop having a conversation
Border uncertainty holding back business
  • Article
  • 20 May 2024
Repeated delays in implementing a full UK border control regime in wake of the UK’s EU exit have had serious impacts on traders, according to the National Audit Office.
Two people looking at the laptop having a conversation
Treasury trading platform poses challenges
  • Article
  • 08 May 2024
PISCES paves the way for shares of private businesses to be traded in periodic auctions, but questions remain around demand and cost, ICAEW warns.
Two people looking at the laptop having a conversation
How CFOs can prepare for what lies ahead
  • Article
  • 26 Apr 2024
As non-financial data becomes more crucial to CFOs’ work, ICAEW has partnered on new research to support them in making changes for a fairer future.
CFOs must support CEOs’ focus on radical change
  • Article
  • 25 Mar 2024
At times of growth and a challenging economic outlook, finance’s agility and forecasting capabilities will be vital to a company’s ability to grow, PwC survey finds.
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Reports and guides

Financial Modelling code
  • Thought leadership report
  • 2024
  • PDF (755kb)
ICAEW’s Excel Community has worked with a broad swathe of modelling organisations and experts, taking a half dozen methodologies and paring down to the commonly held, widely accepted beliefs about what constitutes good modelling. Thus, we’ve created the Financial Modelling Code.
Superforecasting: How to improve your forecasting skills
  • Report
  • 2021
Forecasting is an essential skill for finance professionals and managers. Business decisions of all kinds depend on effective approaches to looking ahead. This guide outlines the core principles of “Superforecasting” which will help you develop your forecasting skills.
Exclusive Financial Modelling, Issue 63
  • Helpsheets and support
  • 2016
  • PDF (4,453kb)
This 2nd edition is a practical guide to financial modelling in a corporate finance transaction context. That rider is important. The guide is aimed at corporate financiers and modellers who need to prepare, use or review financial models for deals; it is not aimed at financial modellers who need to develop their understanding of corporate finance.
Financial strategy - forecasting issues
  • Report
  • 2016
This quarterly report discusses the risk and rewards of forecasting and the global issues which may affect your models.
Exclusive Guideline - Using non-financial measures
  • Helpsheets and support
  • 2014
A guide to using non-financial measures (NFMs) from the Business Performance Management Community.
BPM guideline: Determining your approach to budgeting and forecasting
  • Helpsheets and support
  • 2014
Most organisations spend significant time and resources on budgeting and forecasting activities.
More reports

Webinars

Financial modelling best practice
  • Webinar
  • 05 Nov 2024
Financial modelling is a discipline. A good financial model needs to tell a story and create confidence for the users and decision makers.
Exclusive Power BI for the Excel veteran
  • Webinar
  • 24 Jun 2024
Excel MVP & YouTuber David Benaim demonstrates how to import data into Power BI, manipulate and reshape data with its Power Query component, model data with its Power Pivot component, build out visuals, and publish online.
Exclusive Interactive dashboards and analytics in Excel
  • Webinar
  • 23 May 2024
Excel MVP & YouTuber David Benaim demonstrates how to use PivotTables to build interactive dashboards, and covers some advanced charting techniques.
Exclusive Model Risk Management: Understanding the Bank of England’s Supervisory Statement
  • Webinar
  • 19 Mar 2024
Model risk is one of the most important risks in a financial institution. It impacts front office, operations, finance, internal and external audit.
Data-driven insights: The importance of data quality in cash flow forecasting with Futrli
  • Webinar
  • 14 Feb 2024
Could bad data be holding your forecasts back? If you want to perform incisive cash flow forecasts and empower your clients to make the best business decisions, you need to have a focus on data quality. In this webinar, we will delve into the impact of good data on your cash flow forecasting. We will consider the processes you can implement today to ensure your clients’ data is captured, processed, and presented in the most effective manner, and look at how Futrli can help.
Exclusive Making Excel accessible
  • Webinar
  • 27 Jul 2023
This webinar aims to shed light on what accessibility features are built into Microsoft Excel and how users can get the most out of these features.
More webinars

Training courses

Our CPD courses cover topics including financial modelling, data visualisation, Excel modelling, and more.
CPD courses: data and technology Browse ICAEW's CPD courses and training on data and technology, across virtual, in-person and elearning platforms. Topics covered, include: Excel skills, data visualisation and applying AI.
A-Z of CPD courses by topic
  • Listing
As a global leader of the finance profession, ICAEW offers a comprehensive range of training and learning options for every stage of professional development, designed for finance teams and finance leaders.

eBooks

The ICAEW Library & Information Service 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.

Exclusive Hands-on financial modeling with Excel for Microsoft 365: build your own practical financial models for effective forecasting, valuation, trading, and growth analysis
  • eBook
  • 2022
  • Shmuel Oluwa
Financial modeling is a core skill required by anyone who wants to build a career in finance. This book explores financial modeling terminologies with the help of Excel. Starting with the key concepts of Excel, such as formulas and functions, this updated second edition will help you to learn all about referencing frameworks and other advanced components for building financial models.
Exclusive Financial modeling in Excel for dummies
  • eBook
  • 2022
  • Danielle Stein Fairhurst
This books provides practical hands-on exercises to help you build powerful models from scratch, and to work with existing financial models in Excel. Includes chapters on tools and techniques for financial modeling, applying scenarios, charting and presenting model output, building an integrated financial statements model, discounted cash flow valuation, and budgeting for capital expenditure and depreciation.
Exclusive Financial modeling for decision making: using MS-Excel in accounting and finance
  • eBook
  • 2020
  • Ron Messer
This book provides accounting students in post-secondary institutions with an advanced level understanding of how to use MS-Excel.
Exclusive Hands-on financial modeling with Microsoft Excel 2019: build practical models for forecasting, valuation, trading, and growth analysis using Excel 2019
  • eBook
  • 2019
  • Shmuel Oluwa
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.
Exclusive Using Excel for business and financial modelling: a practical guide (3rd edition)
  • eBook
  • 2019
  • Danielle Stein Fairhurst
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.
Exclusive Building financial models: the complete guide to designing, building, and applying projection models
  • eBook
  • 2018
  • John S. Tjia
Teaches how to build financial models using spreadsheets.
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.

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Business press

The ICAEW Library & Information Service 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.
Exclusive Value drivers for financial planning
  • Article
  • 01 Dec 2023
  • Klaus Möller, Payam Farahi, Michael Nudelmann, Michael J.Weiser
By selecting relevant and accepted value drivers, companies can make informed decisions in a volatile, uncertain, complex and ambiguous (VUCA) environment. The article explores the role of value drivers, which represent the key influencing factors of a business model, in financial planning. It describes how multinational crystal jewellery designer Swarovski moved from traditional budgeting to implementing a predictive driver-based planning and forecasting solution.
Exclusive The ins and outs of cash flow forecasting
  • Article
  • 01 Sep 2023
  • Jamilex Gotay
The article emphasizes the significance of cash flow forecasting in managing a company's finances. The business credit department plays a crucial role in cash flow forecasting by tracking cash inflows through accounts receivable, aiding in accurate financial predictions. The article gives advice on how to build a new cash flow forecast.
Exclusive Quantitative method stands as the most preferred method for scenario planning - GoodFirms Survey 2022
  • Article
  • 14 Nov 2022
  • PR Newswire
The research platform GoodFirms recently released its new research report, 'Scenario Planning - Objectives, Benefits, and Methods of Application'. GoodFirms surveyed global organizations regarding their scenario planning initiatives, finding that 'uncertainty mitigation' was the top reported objective and 'quantitative scenario' was the most widely used scenario planning method.
Exclusive Get comfortable wrapping yourself around Python
  • Article
  • 01 Jun 2022
  • John Alarcon, Kevin Moffitt, Cory Ng
In today’s digital environment, where more tools are becoming necessary for analysing large and unstructured data sets, Python is emerging as a helpful resource for accountants. Discusses Python's relevance to accountants in areas such as audit and business planning and forecasting, as well as in accounting roles where automation may be useful.
Exclusive Secrets of an Excel esports player: How pros tap the true power of spreadsheets
  • Article
  • 01 Mar 2022
  • Gordon Ung
An interview with Jason Moore, a heavy-duty Excel user and esports player. Read on to find out how much hardware you need to push spreadsheets to their limits, what it's like to compete in the Financial Modelling World Cup, and Moore's views on why Excel and VBA is so powerful.
Exclusive Identifying embryonic trends that matter
  • Article
  • 01 Jul 2021
  • Bob Goodson, Martin Reeves, Kevin Whitaker
To achieve strategic advantage, scan the market for surprises. To take advantage of emerging trends, companies must identify them when they are embryonic - identifying and interpreting anomalies to get ahead of their competition.
More articles

Online magazines

These journals are available only to logged-in ICAEW members, ACA students and other entitled users. To access them, please log in.

Articles and books in the ICAEW Library collection

The collection of the ICAEW Library & Information Service includes a range of articles, books and reports on financial modelling and forecasting. Use the links below to see what we have available to request in our Library catalogue (Libcat).

To find out how you can borrow books from the Library please see our guide to borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

Can't find what you're looking for?

The ICAEW Library can give you the right information from trustworthy, professional sources that aren't freely available online. Contact us for expert help with your enquiries and research.

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Some of the content on this web page was provided by the Chartered Accountants’ Trust for Education and Research, a registered charity, which owns the library and operates it for ICAEW.