All your questions about the Financial Modeling Academy Scholarship Answered

Have you had questions about the Financial Modeling Academy Scholarship Program? In this webinar/blog, Oluwasegun and Solomon sit down to answer some Frequently Asked Questions (FAQs) about financial modeling, its importance, and the intricacies of the Financial Modeling Academy Scholarship.

Here are the summarized points capturing the key questions about the Financial Modeling Academy and how to gain its Scholarship:

What is Financial Modeling?

• Financial modeling involves forecasting a company's financial performance. It’s used for making business valuation decisions or operational choices by building models that project future financial scenarios, like five or ten years down the line. It’s crucial for data-driven decision-making.

What is the Financial Modeling Academy Scholarship Program About?

• The Academy aims to train financial modelers and get them accredited due to the high costs involved in training and certification. Our partnership with the Financial Modeling Institute in Canada helps provide accessible education and accreditation to African residents and students, making this valuable skill set more affordable.

How much is the Financial Modeling Academy Program?

• African Student Route ($150)

This route is designed for undergraduates who are enrolled in academic institutions or professional bodies like CFA, ICAN, etc. It offers a subsidized rate for students who want to enhance their skills in financial modeling.

• African Resident Route ($347)

This is aimed at professionals or postgraduates in Africa who are not students. It provides access to the full suite of training and resources offered by the Academy at a rate considerate of the economic conditions within the continent.

• Non-African Resident Route ($972)

This pricing is for individuals residing outside of Africa who wish to enroll in the program. It reflects the global market rate for professional training of this caliber.

Who Is Eligible for This Scholarship

• The scholarship is available to residents of Africa, excluding South Africa, undergraduate students, and professionals from various sectors who are keen on enhancing their financial modeling skills.

Can Someone Without Any Accounting or Finance Background Apply?

• Absolutely, but it's crucial to go through foundational courses offered by the academy, which will cover essential accounting principles and Excel skills. This preparation ensures everyone is on a level playing field before starting the more advanced aspects of financial modeling.

What Does the Curriculum Involve and What’s the Duration of the Program?

• The program runs for eight weeks and includes both self-paced and live virtual courses. It covers everything from basic Excel skills to advanced financial modeling concepts, ensuring participants can build complete financial models by the end.

What Career Opportunities Can Arise from Acquiring Skills in Financial Modeling?

• Financial modeling opens doors to numerous finance-related roles like asset management, investment banking, and corporate finance analysis. It equips professionals to operate at strategic levels within organizations, making them invaluable for data-driven strategic planning.

How relevant is the Financial Modeling Institute (FMI) to an Accountant with Tax Exposure?

• Accountants, especially those with tax exposure, will find transitioning into financial modeling easier because they already understand financial statements and their components. Financial modeling will be a straightforward addition to their skill set, enhancing their ability to make strategic decisions.

Is the FMI specifically for financial modeling?

• Yes, the FMI is the only global accreditation body specialized in financial modeling, based in Canada. It focuses exclusively on setting standards and certifying professionals in financial modeling.

As an Undergraduate of Accounting, What Areas in Accounting and Finance do I Need to Know Before Engaging in Financial Modeling?

• Understanding how to prepare and interlink the three main financial statements—profit and loss, balance sheet, and cash flow—is crucial. This foundational knowledge will make learning financial modeling much easier as it builds directly on these principles.

How Long Would One Have Access to the Virtual Training Platform?

• Participants will have one-year access to the training platform, including all learning materials and the community forum, ensuring they can fully utilize the resources and support offered throughout their learning journey.

Does the Course Cover Models for Project Finance and Startups?

• The primary focus of the course is on three-statement financial modeling and valuation. It doesn’t specifically cover project finance or startups, which are usually addressed in more advanced or specialized courses.

 For Non-Finance Students/Professionals, Will the Completion of the Primer Courses Be Part of the Eight-week Duration for the Program?

• The primer courses are available immediately after registration and need to be completed before the start of the main program. They are designed to bring all participants up to speed and ensure everyone starts with the necessary foundational knowledge.

How to Register for the Financial Modeling Academy.

Scan the QR codes below to be directed to the FMA African Resident and African Students landing pages! 

Remember, doors to the Financial Modeling Academy close on the 17th of May 2024. Don’t be left out!