M&A Science Academy’s

Introduction to Financial Modeling

Sign up for our M&A Science Academy live course session in partnership with:
Utkarsh Bhagat
Corporate Development and M&A Manager

Join us!

Join us on December 3 - 4 for Introduction to Financial Modeling! The two-day course will be taught live, virtually by Utkarsh Bhagat.

The course will be beneficial for new and experienced practitioners.

Participants will enhance their ability to navigate Microsoft Excel, refresh / enhance their accounting and finance knowledge and gain an understanding of key drivers for the construction of financial models.
The financial modeling course allows participants to construct a circular 3‐statement financial model of a public company.  Participants will gain exposure to shortcuts and efficiencies to enhance their ability to navigate in Microsoft Excel.  Further, participants will learn how to leverage an annual report of a publicly traded company to construct a financial model and discounted cash flows analysis.

Construction of a 3‐Statement Financial Model including the following topics and schedules: Excel shortcuts, efficiencies and best practices

  • Analyzing a 10‐K
  • Normalizing income statement
  • Analyzing and modeling the balance sheet (historical and projected)
  • Developing cash flow statement projections
  • Analyzing working capital and discussing cash conversion cycles
  • Analyzing the relationship between depreciation, capital expenditures and PP&E projections
  • Projecting definite-life intangibles
  • Discussing the concept of cash flow neutrality
  • Projecting share counts
  • Projecting debt balances and interest expense / (income)
  • Advanced Topics:
    • Modeling and understanding circularity in models
    • Techniques to ensure models balance
    • Sensitivity Analysis
  • Preparing a discounted cash flows analysis based on the 3-statement operating model

Reinvent the M&A training experience

Participants will be provided with Excel files to interact with alongside the live teaching.
The live course recording will be available for all participants afterwards.

For questions regarding the course content, please email bhagat@gmail.com.


December 3 - 4


9 AM - 4 PM CT, includes morning break, lunch break, mid afternoon break




Early Bird Special until Nov 27 - $2,200, after Nov 27 $2,500

Meet the Instructor

Utkarsh began his investment banking career with A.G. Edwards’ Healthcare group in Saint Louis, MO. After two years, he joined BMO Capital Markets where he worked in the Food & Consumer and Mergers & Acquisitions groups in Chicago, focusing primarily on M&A transactions in the Food industry.  From there, he joined the Mergers & Acquisitions Tax group at PricewaterhouseCoopers. Afterwards, Utkarsha spent 8 years leading excel, financial modeling and valuation trainings across investment banks, consulting firms and academic institutions.  In 2020, he joined Archer Daniels Midland’s Corporate Development and M&A team.

M&A Science Academy Certification

Upon course completion participants will receive an Introduction to Financial Modeling M&A Science Academy Certification and one month complimentary access to the Academy.