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

14 required courses
 Earn a minimum passing grade of 80%

(11 core and 3 electives) in each course assessment

Common Career Paths

Financial Planning & Analysis

27 total courses (14 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

●
Reading Financial Statements
(25%)
●
Discounted Cash Flow (DCF)

Presentation
●
Excel Crash Course
& Visuals ●
Scenario and sensitivity analysis

(8%)
●
Introduction to Corporate Finance

●
Monthly cash flow forecasting

Budgeting & Finance Accretion/dilution analysis

Math for Corporate Finance

Forecasting (23%)
●

Capital IQ Fundamentals

(8%) ●
Leveraged Buyout (LBO)

Valuation Excel (17%) ●

Mergers & Acquisitions (M&A)

(10%)
Core Courses (required)



●

Industry-specific financial modeling

●
Financial Analysis Fundamentals

Finance










Excel






●
Accounting Principles and Standards

●
Professional Ethics

●

Present value, future value, net present ●


Functions and formulas (XNPV, XIRR, PMT,
value, terminal value
IPMT, VLOOKUP, CHOOSE, INDEX MATCH
●

Building a 3 Statement Financial
Annuities and perpetuities
MATCH, OFFSET)

Model

Capital markets

●

Auditing tools (tracing precedents/dependents,
Business Valuation Modeling Part I

go to special, conditional formatting)

●
Business Valuation Modeling Part II

●

Capital raising process — Initial Public
Offering (IPO)

●
Data validation, data table, goal seek

●
Budgeting and Forecasting

●

Capital structure — debt financing, equity
●

Solver and Macros

●

FP&A Monthly Cash Flow Forecast
financing

Model

●


Bond pricing, par value, coupon rate, yield Budgeting & Forecasting



●
Scenario and Sensitivity Analysis

to maturity

●

Incremental, activity based, value proposition,
●
Dashboard and Data Visualization

zero based budgeting

PowerPoint and Pitchbooks

Valuation






●
Break-even analysis, margin of safety

Elective Courses (choose 3)








●
Comps analysis
●

Quantitative forecasting — moving average,
●
Precedents analysis
simple and multiple linear regression

●
The Amazon Case Study
●
Variance analysis

●
Discounted cash flow (DCF) analysis

●
Advanced Excel Formulas
●


Budgeting tools — goal seek, solver,

●
Weighted Average Cost of Capital (WACC)

●
Real Estate Financial Modeling
consolidate, pivot tables

●
Enterprise value, equity value multiples

●

Start-up/e-Commerce Financial ●

Free Cash Flow to the Firm (FCFF) and Free
Model and Valuation
Presentations & Visuals





Cash Flow to Equity (FCFE)

●

Mining Financial Model and ●



Dynamic charts and graphs (football field
●

Net Present Value (NPV) and Internal Rate
Valuation
chart, waterfall chart, tornado chart, gravity
of Return (IRR)

●

Renewable Energy - Solar Financial sort table, gauge chart, bullet charts,
●

Sum-of-the-Parts (SOTP)

Modeling
sparklines, combo chart)

●
Leveraged Buyout LBO Modeling
●
Professional pitch decks

Accounting

●

Mergers and Acquisitions (M&A) ●

Financial dashboards

Modeling

●

Balance sheet, income statement, cash
flow statement

●
Corporate and Business Strategy
Strategy

●
Assets, liabilities, shareholders’ equity

Excel VBA for Finance

●
Strategic analysis process

●
Financial transactions

●
Corporate, business, functional-level strategy

Template Library
●

Prepayments, accrued expenses,
unearned revenue

●
PEST and Porter’s 5 forces

● Financial Modeling Templates ●

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
● Property, Plant and Equipment (PP&E) and strategies

Capital Expenditures (CapEx) ● Balanced scorecard

Learn more at cfi.to/fmva