Auditing and Balancing a 3-Statement Model

Name: Auditing and Balancing a 3-Statement Model
Availability: InStock
Rating: 4.94 (33 reviews)

Review and fix an imbalanced model quickly by following error-checking best practices.

Review Excel’s formula auditing and error checking tools
Identify the most common errors and sources of imbalance in a 3-statement model
Apply techniques to ensure consistency and accuracy across financial models, including checking for column alignment, row differences, and proper referencing.
Reconcile changes in balance sheet accounts with corresponding cash flow statement entries to identify and resolve discrepancies effectively.

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Overview

Auditing and Balancing a 3-Statement Model Course Overview

The three-statement financial model forms the foundation on which many other models and analyses are built, and constructing a three-statement model is a critical skill for many roles in accounting and finance. In this course, we will cover the most common errors and issues that cause a three-statement model to be out of balance. We’ll show how to correctly find and fix these issues using error-checking best practices. We’ll also build some common error checks that can be used to quickly diagnose issues.

Who Should Take This Course?

This course is most suitable for anyone working in investment banking, equity research, and private equity. The content may also be relevant for other financial modeling roles such as corporate development and financial planning and analysis (FP&A).

Auditing and Balancing a 3-Statement Model Learning Objectives

Review Excel's formula auditing and error checking tools.
Identify the most common errors and sources of imbalance in a 3-statement model.
Apply techniques to ensure consistency and accuracy across financial models, including checking for column alignment, row differences, and proper referencing.
Reconcile changes in balance sheet accounts with corresponding cash flow statement entries to identify and resolve discrepancies effectively.

Prerequisite Skills

Recommended skills to have before taking this course.

Excel

Auditing and Balancing a 3-Statement Model

4.9

Led by Duncan McKeen

Led by Jeff Schmidt

Level 4

1h 45min

100% online and self-paced

Field of Study: Finance

NASBA CPE Credits: 2

Start Learning

What You'll Learn

Lesson

Multimedia

Exams

Files

Qualified Assessment

This Course is Part of the Following Programs

Why stop here? Expand your skills and show your expertise with the professional certifications, specializations, and CPE credits you’re already on your way to earning.

Financial Modeling & Valuation Analyst (FMVA®) Certification

Skills Learned Financial modeling and valuation, sensitivity analysis, strategy
Career Prep Investment banking and equity research, FP&A, corporate development

Learn More

What Our Members Say

Very practical! Easy to understand and apply

Jala Ajennadjat

A great refresher on the connections between the 3-financial statements and useful Excel tips

It covers common errors, troubleshooting techniques, and best practices for error-checking and corrections.

Mouhamad Izzat ALSbaini

How to deal with common basic errors in the model

Good exposure for beginner and prepare us to face some of the common basic errors in the model and how to use the correct tool in Excel to audit and fix the errors.

Hon Yang Ng

Simply An Awesome Delivery By The Instructor

Great Job! This course summarizes the crux of the 3-statement model. The instructor had an awesome countenance with an appealing sense of humour. Kudos, also to the CFI team for constantly reinventing content delivery. I think the little video of the instructor by the top right corner during delivery is a great development for better connection with learners. Awesome work guys!

Charles Pev

very interesting

Take time and well practice

Girma Tessema

Great course

Effective and practical tips to help for a lifetime of finance

Anand Sankaran

Auditing and Balancing a 3- Statement Model

The course provided me with tools in MS Excel that I was not aware of. The keyboard shortcuts enable time- savings. The course highlights how important the audit of a model entails!!!!

Rishi Albert

Great Course

Not only did this course help reinforce how the 3-statement model components relate to each other, it identified many different error scenarios - from formula inconsistencies to hidden rows, etc. Best of all, the course identified great tools to quickly run errors down and ensure model consistency.

Stephen Crane

Fully Practica Orientedl

Thankyou Faculty Member & CFI

JACKY SINGH

I learned excel

it is a useful course

Haya AlDossari

Great Experience

CFI is the best learning platform for finance professionals and students.

Yaseen Ghori

Great course

This has definitely been one of my favorite courses in the FMVA program so far, primarily because it covered many valuable and practical concepts.

Peter Herszenyi

Helped me to understand how to audit a 3-st model

Complete and very educational lesson

Eduardo Esteban Velasco Montenegro

Enhance Financial Modeling Skills with the CFI 3-Statement Course

Completing the CFI 3-Statement Modeling course is a valuable skill-building experience for those pursuing a career in finance. The course enhances financial modeling abilities and provides a competitive advantage in the job market. Overall, this course is a worthwhile investment for finance students, analysts, and professionals.

Abdulrazak Nuh Ahmed

Genial

QUE HALLA IDIOMA EN ESPAÑOL

Jonathan ricardo Martinez

Excellent

The content is straightforward and clear.

ELIJAH MWELU

Great

the course was great

Yerkebulan Sapargaliyev

Great Course for Auditing and Balancing Financial Statements

Great hands-on learning experience in auditing and balancing financial statements. Great review of the assignments to assist in learning.

Richard Beveridge

Fine

Еverything was great, but not as engaging as the others. Useful skills gained through patience in learning.

Igor Gurevich

Great Insights for Auditing Financial Models

The course gives clear guidance on auditing Financial Models efficiently.

John Lukwesa

Great100

Great skill to have. Comprehensive modules.

Temitayo Lawal

Great course on auditing a 3-statement model

The advice given was very useful to understand how to effectively review and audit a 3-statement model. I've actually memorized a few very useful shortcuts to audit models, and keep using them along the other courses I'm taking to earn my FMVA certification. Great, great course and funny instructor as well xD.

Jorge Truchero

Awesome Course

Always felt comfortable with Excel modeling, but have learned a great deal more through CFI.

Robert Mock

Great learning experience

The Auditing and Balancing a Three-Statement Model course was clear, practical, and hands-on. I gained valuable Excel auditing and financial modeling skills that I can apply immediately. Highly recommend CFI for anyone serious about finance.

TCHOUFACK HUGUES ALAIN

great learning experience

I truly enjoyed this challenging course on balancing a 3-Statement model. Kudos to the course instructor(s) and to the team putting together the models and exercises. For the fun of it, I did put to the test ChatGPT's ability (or lack thereof) to audit an Excel spreadsheet; this was a total failure! I would be curious to know if Copilot can help make some faster strides. I am also intrigued by Macabacus. The CFI material quality continues to impress me after all these years.

Yves Seybel

Frequently Asked Questions

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What are the requirements to take the courses?

All of our certification programs are open to students and professionals in various industries and levels of experience. Our curriculum is designed to teach what you need to know from basic fundamentals to advanced practical case studies. To take the courses and complete the exercises, students will only need access to a PC and/or Mac, Microsoft Suite (2016 or newer), and a stable internet connection. Click here to view the Technical Requirements

Can I download the Excel files and financial modeling templates for the course?

Absolutely! All the files and templates needed in a course are available for download. Just look for a module that shows Downloadable Files within the course dashboard. See here for a visual guide on how to do this.

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You will have yearly access to the courses as long as you maintain an active subscription. All the courses are self-paced as well so you can take your time in learning without worrying about any deadlines. Click here to compare our available enrollment options.

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Yes, CFI is accredited by the Better Business Bureau® (BBB) to maintain training standards, the CPA Institutions in Canada, and the National Association of State Boards of Accountancy (NASBA) in the USA. Most of our courses qualify for verified CPE credits for CPA charter holders. Please refer to this page to view all available CPE credits.

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Students must complete all the video lessons, quizzes, and final assessments in each course. You can retake the assessments as many times as necessary until you reach an 80% passing grade. For more information on how to earn a course certificate, click HERE.

How are the exams conducted?

Students are required to complete an online assessment (Multiple choice questions, Fill-in-the-Blanks, and Excel Questions) at the end of each course. You can take the exams on your own schedule and will need to earn at least 80% to pass the course and earn your certificate of course completion. Please note that course exams can be repeated as many times as you need. Students are also required to complete the FMVA® final exam to earn their certification. How to Take a Qualified Assessment

Can I email the instructor if I have questions?

While the courses are designed mainly for self-study, we are happy to provide email assistance for general or technical support inquiries. The Full Immersion bundles include a premium email support function that allows you to communicate directly with in-house experts regarding course content. This is one of the key features that sets the Full Immersion bundle apart and makes it a worthwhile upgrade over the more affordable self-study bundle. You can compare more features in our bundles here.

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Based on hundreds of reviews from thousands of students we know how CFI courses have helped so many people advance their finance careers. Our courses are designed to be extremely practical and simulate the experience of being trained as a professional financial analyst…the ultimate way to advance your career. For real-world examples and to help delve even deeper into the course concepts, please look into our free career resources library.

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Auditing and Balancing a 3-Statement Model

Auditing and Balancing a 3-Statement Model Course Overview

Who Should Take This Course?

Auditing and Balancing a 3-Statement Model Learning Objectives

What You'll Learn

Introduction

Excel Options and Auditing Tools

Hardcoded Data and Formulas

Totals and Subtotals

Referencing Columns and Rows

Sign Switching

Balance Sheets are Cumulative

Copy Fixes Forward

Comprehensive Review

Balance Sheet and Cash Flow Statement Reconciliation

Find the Errors

Course Summary

Qualified Assessment

This Course is Part of the Following Programs

Financial Modeling & Valuation Analyst (FMVA®) Certification

What Our Members Say

Jala Ajennadjat

Mouhamad Izzat ALSbaini

Hon Yang Ng

Charles Pev

Girma Tessema

Anand Sankaran

Rishi Albert

Stephen Crane

JACKY SINGH

Haya AlDossari

Yaseen Ghori

Peter Herszenyi

Eduardo Esteban Velasco Montenegro

Abdulrazak Nuh Ahmed

Jonathan ricardo Martinez

ELIJAH MWELU

Yerkebulan Sapargaliyev

Richard Beveridge

Igor Gurevich

John Lukwesa

Temitayo Lawal

Jorge Truchero

Robert Mock

TCHOUFACK HUGUES ALAIN

Yves Seybel

Frequently Asked Questions