Financial Modeling & Valuation Analyst (FMVA)® Certification Program

CFI’s Financial Modeling & Valuation Analyst (FMVA)® Certification Program covers the most important skills required to become a world-class financial analyst including finance, accounting, Excel, financial modeling, valuation, budgeting, forecasting, presentations, dashboards, and strategy.

How It Works

100% online; Complete real-world case studies in learn at your own pace Excel and PowerPoint

12 required courses Earn a minimum passing grade of 80% (9 core and 3 electives) in each course assessment

Common Career Paths

Financial Planning & Analysis 24 total courses (12 required)

Investment Banking Recommended study time of 120 - 200 hours

Corporate Development 127+ downloadable templates

Equity Research Average completion time of 6 months

Private Equity & Venture Capital

Click to learn more at cfi.to/fmva Financial Modeling & Valuation Analyst (FMVA)® Certification Program

All Courses Curriculum Topics

Prep Courses (optional) Financial Modeling Strategy (4%) Financial ● 3-statement financial modeling ● Accounting Fundamentals Accounting (5%) Modeling ● Discounted Cash Flow (DCF) ● Reading Financial Statements (25%) Presentation & Visuals ● Scenario and sensitivity analysis ● Excel Crash Course (8%) ● Monthly cash flow forecasting ● Introduction to Corporate Finance Finance Budgeting & ● Accretion/dilution analysis ● Math for Corporate Finance Forecasting (23%) ● Leveraged Buyout (LBO) ● Capital IQ Fundamentals (8%)

Valuation Excel (17%) ● Mergers & Acquisitions (M&A) (10%) Core Courses (required) ● Industry-specific financial modeling

● Financial Analysis Fundamentals Finance Excel ● Building a 3 Statement Financial

Model ● Present value, future value, net present ● Functions and formulas (XNPV, XIRR, PMT, value, terminal value IPMT, VLOOKUP, CHOOSE, INDEX MATCH ● Business Valuation Modeling MATCH, OFFSET) ● Annuities and perpetuities ● Budgeting and Forecasting ● Auditing tools (tracing precedents/dependents, ● Capital markets ● FP&A Monthly Cash Flow Forecast go to special, conditional formatting) Model ● Capital raising process — Initial Public Offering (IPO) ● Data validation, data table, goal seek ● Scenario and Sensitivity Analysis ● Solver and Macros ● Capital structure — debt financing, equity ● Dashboard and Data Visualization financing ● PowerPoint and Pitchbooks ● Bond pricing, par value, coupon rate, yield Budgeting & Forecasting ● Advanced Financial Modeling and to maturity Valuation (Amazon Case) ● Incremental, activity based, value proposition, zero based budgeting Valuation Elective Courses (choose 3) ● Break-even analysis, margin of safety

● Comps analysis ● Quantitative forecasting — moving average, ● Advanced Excel Formulas simple and multiple linear regression ● Precedents analysis ● Real Estate Financial Modeling ● Variance analysis ● Discounted cash flow (DCF) analysis ● Start-up/e-Commerce Financial ● Budgeting tools — goal seek, solver, Model and Valuation ● Weighted Average Cost of Capital (WACC) consolidate, pivot tables ● Enterprise value, equity value multiples ● Mining Financial Model and

Valuation ● Free Cash Flow to the Firm (FCFF) and Free Presentations & Visuals Cash Flow to Equity (FCFE) ● Mergers and Acquisitions (M&A) ● Dynamic charts and graphs (football field Modeling ● Net Present Value (NPV) and Internal Rate of Return (IRR) chart, waterfall chart, tornado chart, gravity ● Leveraged Buyout LBO Modeling sort table, gauge chart, bullet charts, ● Sum-of-the-Parts (SOTP) ● Corporate and Business Strategy sparklines, combo chart)

● Renewable Energy - Solar Financial ● Professional pitch decks Modeling Accounting ● Financial dashboards ● Excel VBA for Finance ● Balance sheet, income statement, cash flow statement Strategy Template Library ● Assets, liabilities, shareholders’ equity ● Strategic analysis process ● Financial transactions ● Financial Modeling Templates ● Corporate, business, functional-level strategy ● Prepayments, accrued expenses, unearned revenue ● PEST and Porter’s 5 forces

● Competitive advantage ● Operating cash flow, investing cash flow,

financing cash flow ● Key Performance Indicators (KPIs)

● Depreciation methods ● SWOT analysis and lifecycle analysis

● Working capital ● Market segmentation and Porter’s generic strategies ● Property, Plant and Equipment (PP&E) and

Capital Expenditures (CapEx) ● Balanced scorecard Learn more at cfi.to/fmva