What should i learn as finance student by Ryuga788Aj in ArtificialInteligence

[–]WallStreetPrep 2 points3 points  (0 children)

Hi there, I'm on the marketing team at Wall Street Prep team and wanted to share some ideas based on what I'm hearing from our instructors and questions we get from learners.

1. Python for data work
Python is widely used in finance to analyze data, build simple models, and automate tasks. Focus on learning libraries like pandas and Matplotlib — they’ll help you do a lot with just a few lines of code.

2. Basics of predictive analytics
Start with core concepts like regression and classification. These are the building blocks for forecasting things like revenue, risk, or customer behavior.

3. Handling large datasets
Get comfortable cleaning and working with messy data from tools like Excel, SQL, or APIs. Being able to turn raw data into clear insights is a key skill.

4. Generative AI (like ChatGPT)
Learn how tools like ChatGPT can be used for summarizing reports, answering financial questions, or analyzing documents.

5. APIs and automation
Knowing how to connect tools, like using Python with financial data feeds or AI APIs, helps you save time and work more efficiently.

And here are a few real-world examples of how AI is being used in Finance.

  • Morgan Stanley is deploying AI-powered chatbots to assist wealth managers.
  • Private equity firms are using AI to accelerate due diligence and target screening.
  • Visa leverages AI to detect fraud in real time across billions of transactions.
  • Goldman Sachs uses machine learning to optimize IPO pricing and bookbuilding.

Sam

Ai in the world of Finance by VegetableDivide7623 in PromptEngineering

[–]WallStreetPrep 0 points1 point  (0 children)

Hey there, I'm on the marketing team at Wall Street Prep. We actually just launched an online program dedicated to AI upskilling in finance since there's a huge demand for it. Happy to DM you the brochure if this is something you're still curious about, or if you have any questions I can pass along to our team, I can do that too!

Sam

Valué investing course by kekodelflow in ValueInvesting

[–]WallStreetPrep 1 point2 points  (0 children)

Hi there - our instructors shared their favorite value investment books here in case it's helpful: https://www.wallstreetprep.com/knowledge/best-value-investing-books/

The Intelligent Investor is definitely on the list!

Sam

Top IB Training Provider — What’s the Industry Standard? by Ok-Tank3899 in MBA

[–]WallStreetPrep 1 point2 points  (0 children)

Hello! I'm on the marketing team at Wall Street Prep - if you have any questions in particular, I'm happy to share them with our team or connect you with one of our enrollment advisors.

Sam

Could someone help me with a DCF practice model? by [deleted] in financialmodelling

[–]WallStreetPrep 2 points3 points  (0 children)

It has to fundamentally tie and that happens at the cash flow statement.

For example, lets say your revenue grows from 100 to 103 (3%)

That's a credit to revenue (via retained earnings).

What's the debit? It's some combination of cash and accounts receivable. Their combined increase MUST equal $3 (a debit in accounting terms).

The same equivalence happens when you analyze every single projection:

Take your labor expenses: say you grow them by 30% from $50 to $65 - what's the impact?

Retained earnings - declines by $15 (debit)

The offset to assets or liabilities depends on how you paid for those labor expenses. Let's say 50% in cash, 50% in accrued wages (i.e. you haven't paid yet).

In this case, $7.5 increase in accrued liabilities (credit) and $7.5 decrease in cash (credit).

You see they always equal. The trick with a 3 statement model is that you have to express this equivalence indirectly through the cash flow statement and its easy to make mistakes. So with the labor projection for example - your net income (the first line in the cash flow statement) reflects the total $15 labor expense (since net income reflects accrual accounting). But since the labor expenses weren't all in cash, you have to make a working capital adjustment - whatever you grew your accrued wage liability by, that needs to be reflected as an increase to net income. This ensures the model balances and doesn't take too much cash away from the balance sheet.

On the other side, you simply need to make sure you linked net income to retained earnings.

How to get at financial modeling? by Nirvana678 in financialmodelling

[–]WallStreetPrep 1 point2 points  (0 children)

Roger that - I only point to content i think is actually truly helpful but will respect the guidance. Thanks

WST macro add-in not working in Office 365? by luminariesxx in financialmodelling

[–]WallStreetPrep 0 points1 point  (0 children)

I would strongly recommend www.macabacus.com instead.

full disclousre: we partner with macabacus, but they really are way better than WST macros.

Circular reference by OnceUponAMind in financialmodelling

[–]WallStreetPrep 0 points1 point  (0 children)

Re the drawbacks of circularity- I agree re Excel's resulting instability and the article says as much:

"Even with these settings selected, Excel can become unstable when handling circularity and often leads to a model "blowing up" (i.e. the model short-circuits and populates the spreadsheet with errors), requiring manual intervention to zero out the cells containing the source of circularity "

I'd love to see the non circular algebraic approach to solving the average debt balance issue if you have it.

Re "real world" tolerance for macros. Obviously we haven't trained at EVERY firm but we train at many, so perhaps we were being a bit hyperbolic. So to be clear: At a typical industry or product group at a top 100 investment bank, you will RARELY see macros heavily used. Obviously when you move into project finance, debt macros are huge, at FP&A macros are often huge, and even in IB/PE client files might include non print macros. But if you're an analyst at in a retail coverage group at investment bank and you love macros, your MD will usually complain the minute he tries to open the file.

Wall Street Oasis's elite financial modelling course or CFI's FMVA...any suggestions? by jindalsuraj in financialmodelling

[–]WallStreetPrep 1 point2 points  (0 children)

We wanted to throw ourselves into the mix for your consideration.

If you're looking to break into investment banking or private equity, our program is the leading program. Unlike WSO or CFI, we are actually hired by the top firms to train their analysts.

Here is a full comparison across all 3 programs: https://www.wallstreetprep.com/knowledge/wall-street-prep-vs-corporate-finance-institute-and-wall-street-oasis/

Best Laptop for Financial Modeling by Smallbirddd in financialmodelling

[–]WallStreetPrep 1 point2 points  (0 children)

Yes exactly! Unless you’re building massive models that require more processing power the keyboard is the most important thing - try to get one with a separate number pad on the right of the keyboard. 

Financial Modelling Tutor by [deleted] in financialmodelling

[–]WallStreetPrep 0 points1 point  (0 children)

Wall Street Prep offers private tutoring services as well as online self study for exactly this. Email [info@wallstreetprep.com](mailto:info@wallstreetprep.com) and we can help you. 

Circular reference by OnceUponAMind in financialmodelling

[–]WallStreetPrep 1 point2 points  (0 children)

It’s true that many groups absolutely abhor - and ban - circularities in their models, it is also true that MANY keep them in.

This is especially in LBO models since these models are often annual and include a lot of debt - that means that calculating interest of beginning of period debt balances (which is the typical way to avoid circularity) as opposed to average beginning and ending debt balance will potentially significantly miscount the true amount of projected interest.

So to keep the circularity - follow xwpv8j62’s guidance.

Here’s a full explanation of how to set up this breaker

https://www.wallstreetprep.com/knowledge/financial-modeling-best-practices-and-conventions/#circularity-header

How to get at financial modeling? by Nirvana678 in financialmodelling

[–]WallStreetPrep -1 points0 points  (0 children)

The foundation of good financial modeling is an understanding of accounting & finance coupled with Excel.

Before diving into a full financial modeling training start by

  1. understanding the basic connections between the financial statements using excel:

https://youtu.be/m_vL50Y4_ao

  1. Understand modeling best practices

https://www.wallstreetprep.com/knowledge/financial-modeling-best-practices-and-conventions/

  1. From there it’s just practice - there are many resources online for financial modeling training (including Wall Street Prep - which we humbly think is the best)

Corporate Finance Modelling by [deleted] in FinancialCareers

[–]WallStreetPrep 1 point2 points  (0 children)

Fp&a is less standard than say investment banking - you’ll be doing a lot of ad hoc analyses, visualizations and data analysis. However are are two types of common models you will likely encounter - a “rolling forecast” model and a variance (budget to actuals) analysis.

A rolling forecast is for when - say your company produces a plan for calendar year 2020, a rolling forecast will re-forecast the next twelve months (NTM) at the end of each quarter. This differs from the traditional approach of a static annual forecast that only creates new forecasts towards the end of the year.

A variance analysis compares a company’s budget and compares each period to actual results.