Every business in the world, whether big or small has to consider many aspects, to obtain and sustain success. These include management, finance, technology, and marketing among others. More importantly, a business needs people to carry out these tasks and departments. Doing this with utmost diligence can help a business make necessary changes and decisions that could have a positive impact on its future. To master this, must enroll in the best financial modeling courses in Kenya listed in this article.
In today’s growing world, the demand for such people to work for businesses is higher than ever. And although everything in life takes practice and experience, many courses help you start your journey with the core skills and tools. Financial modeling is one such course that can help you on your way to becoming a financial analyst carefully dealing with huge numbers to help the business make better decisions.
What is Financial Modeling?
Financial modeling is summarising a company’s expenses and earnings in a spreadsheet intending to analyze, calculate and predict the impact of a decision. Financial modeling aims to estimate a company’s future results by combining accounting, finance, and business metrics. In simple words, a financial model is a representation of a company’s financial position in the future.
It is similar to predicting or forecasting. A financial model is created by analyzing the company’s past and present standing, along with many other metrics. Accounting is a major part of financial modeling. Accounts like income statements, balance sheets, cash flow statements, etc.
Financial modeling has many types. The result of a financial model is used by a company to make many important decisions related to capital, investments, expansion, valuation, and management among others. Despite the fact, that it is not easy to learn financial modeling as it takes practice and experience to efficiently make these models, it promises a successful career, should you choose to pursue it.
There are several courses to help you learn this analytical skill. If you are a student from Kenya looking to embark on a journey in this field and launch a career, this article is for you. Listed below are the 10 best financial modeling courses in Kenya.
What Are the Types of Financial Models:
- Three-statement model: As the name suggests, the three-statement model consists of three statements, namely, The Income Statement, Cash Flow Statement, and Balance Sheet. The three-statement model is one of the most important models which reviews historical performance and links the three statements to derive results to predict the company’s future performance.
- Discounted Cash Flow (DCF): The Discounted Cash Flow method of financial modeling calculates the value of the business by forecasting the number of future cash flows. This future value is then converted into present value after considering inflation and the time value of money and then added to the present value. These values are then compared and analyzed to conclude the current price or value of the company in the market.
- Merger Model: The merger model is an advanced model used to calculate the potential value of the company which are accredited or diluted values on the merger of two companies. The models can be very complex at times as while calculating them the analyst has to work with several elements.
- Leveraged Buy-Out Model (LBO): The calculation of this model is one of the most difficult and complex of all the models. This is because it involves modeling complex Schedules of Debts. These models can have analysts going in circles and a high level of detail and awareness is needed to complete a capable LBO.
Listed below are other types of financial models:
- Initial Public Offering (IPO)
- Consolidated Model
- Sum Of The Parts Model
- Option Pricing Model
- Budget Model
- Forecasting Model
- Merger Model
What Skills Are Important for Financial Modelling?
The following skills are prerequisites for a fruitful financial modeling career.
The most important skill at the core of financial modeling is accounting. If you wish to survive and thrive in this field, your understanding of accounting concepts and evaluation of core financial statements should be good. This is because you will be analyzing and comparing several accounts. So, the basic knowledge of how to solve the accounts is important before its analysis.
Forecasting is predicting the future after looking at past patterns and present variables. Financial modeling is forecasting the company’s future position by looking at variables and events from the past and present. The process involves carefully collecting and analyzing data and making valuable assumptions. Qualitative and quantitative factors have to be taken into account regarding the business in order to come to the most probable assumption.
You need to be a person who approaches problems with the intention to solve them. You need to be someone who thinks rationally and logically. This is because a solution requires not only involves understanding and analyzing the problem but also how you present the solution. Clearly and understandably presenting your results will help get your point across the table.
Because you will be working with large amounts of numbers, complex calculations, and comparisons attention to detail is critical. One small error, one miscalculation, or omission of an important factor can lead to an incorrect financial model for the future. You need to be aware and focused on every detail no matter how significant in order to ensure the most valid outcome.
You need to be analytical in your approach. You need to analyze every single element in front of you, no matter how influential before coming to a conclusion. Big factors in analysing could reveal several small factors influencing them and hence they need to be taken into consideration as well.
You need to think strategically about events and need to be aware of consequences. This will help you solve problems and variables as they come.
Well-Versed in Microsoft Excel
Many accounts, databases, and datasheets that you will extract your data from will be in the form of Excel document. Further, proficiency in Excel, it’s various formulas and functions will help you gather store, and access your own important data. Most importantly most valuations are done in Excel spreadsheets, making it mandatory to be an expert in it.
You should be able to manage your projects on time efficiently. As several valuable resources are invested by the business in your project, you will have to work with deadlines and inform your client about each update. An ability to manage time and resources and an organized mindset will help you a lot.
What is the Job Designation After Completing Financial Modeling?
You would be a candidate for the position of
- Junior analyst
- Investment Analyst
- Credit analyst
- Risk analyst
- Insurance analyst
- Performance analyst, among many others.
There are several types of organizations where analysts are hired to make financial models and further analyze other business operations. Start-ups, Government Organisations, NGOs, Investment banks, and private firms are some examples of organizations that hire a team of Analysts to handle their finances. Apart from that, the field of finance has always proved to be very favorable in terms of job security and steady growth.
How Much Can I Expect to Earn After Completing a Financial Modeling Course?
An entry-level analyst with financial modeling skills in Kenya earns on average 188,000 KES. The lowest salary is 86,400 KES. The highest salary is 298,000 KES.
After all, financial modeling is a great career choice. So, without waiting any further let’s dive into the top 8 financial modeling courses in Kenya.
Top 8 Financial Modeling Courses in Kenya.
1) IIM SKILLS: Online Financial Modeling Course.
With an average rating of 4.9 out of 5, IIM SKILLS is one of the fastest-growing and preferred organizations providing online learning courses worldwide. Based in New Delhi, they have over 35000 students from several countries. They also have several alumni who are placed in top companies. With its growing presence, IIM SKILLS offers financial modeling courses in Kenya.
Their online Financial Modeling Course includes 70+ hours of lectures which include 50 hours of learning and 20 hours of doubt-solving sessions with experts. Over 100 hours of practical assignments help you practice what you learn. Numerous templates and case studies will help you learn ways to use your skills and the significance of financial modeling in real life.
You also get two months of internship and placement assistance with over 150 top firms that are placement partners. What makes this course even better is the 100% money-back guarantee, where you get a refund if you are not satisfied with your experience in your first session. They have batches both on weekdays and weekends. On the completion of the course, you get a certification from IIMSkills which is one of the most trusted and recognized in the industry.
- Basic and Advanced Excel.
- Accounting Concepts and Financial Statements
- Ratio/ KPI analysis
- Technicals of Financial Modelling
- Different Types of Financial Modelling
- Business Valuation
- One of the most trusted educational organizations providing financial modeling courses in Kenya.
- 70 hours of learning
- 100% practical course
- Placement assistance with top firms
- 100 Money-back guarantee
- Industry recognized certification
- Highly positive ratings
- Internship post-completion of the course and 24×7 support
- Lifetime access to course content.
2) Kenya School of Monetary Studies: Executive Diploma in Financial Modeling.
Keya School of monetary studies, formerly the School of the central bank of Kenya is an educational institution that specializes in providing banking and financial courses in Kenya. It is situated in Nairobi, Kenya. They offer many banking, investment, and finance-related short-term courses and long-term postgraduate courses.
Kenya School of monetary studies offers financial modeling courses in Kenya. Their Executive Diploma in Financial Modelling is a short-term diploma course for Graduates and experienced professionals to transform their careers. The course includes three modules to learn from.
- One of the oldest institutions for banking and finance in Kenya
- Positive reviews.
- Short term.
3) Knowledge Hut: Financial Modelling Course With Excel Training
Knowledge Hut is a leading online education provider based in Delaware, USA. In association with Upgrade, Knowledge Hut provides several online courses worldwide. Knowledge Hut also provides financial modeling courses in Kenya. They are known for having trained over 45000 students in over 100 countries. They have over 250 workshops available online.
Their Financial Modelling Course with Excel training provides comprehensive training led by Industry experts. The course is practical in its approach which helps you retain what you learn better. One of the best hands-on training in financial modeling is available through Knowledge Hut. Apart from this, they offer courses in fields like sales, marketing, management, and consulting. The course is divided into 3 modules and you will earn a certificate of completion from an esteemed organization after you complete the course.
- Module 1: Accounting Bootcamp
- Module 2: Financial structure and accounting
- Module 3: Extra Excel applications
- Certification from the well-known Knowledge Hut.
- Expert tutors
- Online hands-on training.
4) Knowledge Academy: Financial Modelling Training
One of the largest providers of training courses in the world, the popular Knowledge Academy provides over 30000 courses in various fields. They have served over 1000 locations in over 140 countries around the world. They are known to have over a million delegates. They offer several popular mainstream courses.
They also offer a short-term financial modeling course. They provide financial modeling courses in Kenya through online virtual sessions. The duration of the course is 1 day. It is an intensive course led by experienced professionals who are known to be experts in their field. On completion of the course, you will receive a certificate from a global education giant to rev up your career.
- Module 1: Introduction to financial modeling.
- Module 2: Valuation
- Module 3: Excel
- Module 4: Data dashboard
- Module 5: Presentation
- Module 6: Uses of financial modeling
- Learn from an education giant
- Certificate from a globally recognized organization
5) Upskill Development Institute:
Upskill development institute is based in Nairobi, Kenya. They offer training in several fields and conduct and provide research opportunities and consultancy services. They provide financial modeling courses in Kenya through physical classroom sessions. The course will help you establish a foundation for valuing a business.
They believe in hands-on practice of the learning material. The course duration is 5 days and is conducted by experts with years of experience. The learning experience includes theory, practicals, group discussions, and case studies. The course is divided into two modules and you will get a certificate in financial modeling at the end of the course.
- Module 1: Valuation
Introduction to valuation
Comparable company analysis
Precedent transaction analysis
Discounted cash flow analysis
Weighted average cost of capital
- Module 2: Cash flow model
Building an integrated cash flow model
Intro to financial modeling
Modeling and Projecting the financial statements
Analyzing and concluding the model
- Physical classes
- Allround approach which involves theory, practical, group discussions, and case studies
- Short term
- A well-known organization in Kenya
- Certified course
- Financial Modeling Courses in Singapore
- Financial Modeling Courses in Melbourne
- Financial Modeling Courses in Toronto
- Financial Modeling Courses in London
- Financial Modeling Courses in Kong Kong
- Financial Modeling Courses in Dubai
6) OCL Learning: Financial Modeling With Excel Training in Kenya.
Open cast labs or OCL delivers professional services and technology solutions. The firm combines innovation and expertise to provide quality education services. Open Cast Labs offers financial modeling courses in Kenya. The course is delivered by seasoned experts with vast experience in their respective fields.
The course teaches you financial modeling basics and advanced level. It covers financial modeling in great detail The course is taught through a combination of theory, practical, and case studies. You will receive training manuals and additional course material. You will receive a certification at the end of the course.
Introduction to Financial Modeling in Excel
- Key Excel functions used in Financial modeling
- Advanced range names, including formulas and naming conventions
- Pivot Tables
- Scenarios, sensitivity, data tables
- Best practice guidelines and spreadsheet modeling standards
Financial Modeling Overview
- Modeling fundamentals
- Steps in model building
- Key concepts
- Capital budgeting & depreciation modeling
- Debt modeling
- Capital Structure
- Ratio analysis
- Tax considerations
- Reporting considerations: changing timescales, changing currencies, units
Specific Purpose Modeling
- Company valuation & financial statement simulation
- Project finance modeling
- Mergers & Acquisitions Analysis
Advanced Modeling Applications
- Multi-variable Monte Carlo Simulations
- Advanced MapReduce
- Introduction to VBA Macros: useful functions and macros, and how to apply these to models
- Advanced Charting techniques
- Advance Excel Dashboards
- Physical classroom course in Nairobi, Kenya
- Detailed course with a mix of topics
7) Star College of Management Studies
Star College of Management Studies is a financial and management training institution operating in Kenya since 2001. They offer best-in-class educational facilities in the fields of accounting, finance, and management. They are one of the best educational institutions in Nairobi, Kenya, and have won several national awards.
They also offer financial modeling courses in Kenya. Their Financial Modelling in Excel training course provides you with 3 modules of intensive learning. Their approach is comprehensive as they like to get deep into theoretical as well as practical concepts. Earn a certificate from a reputed organization.
- Module 1: Advanced Excel
- Module 2: Advanced Excel for financial modelers.
- Module 3: Financial modeling in Excel.
- One of the best training institutions in Kenya, students are winners of national awards.
- Comprehensive classroom training
- Certified course from a reputed institution.
8) EY Virtual Academy: Certificate in Financial Modelling and Valuation
EY virtual academy is an initiative by Ernst & Young Pvt Limited. It provides Comprehensive coverage of handpicked topics in the fields of business and technology. These courses are provided online to a large part of the world. It could be a great option for you if you are looking for financial modeling courses in Kenya. Their Certificate in Financial Modelling and Valuation course provides you with hands-on experience to learn financial modeling. You will earn a certificate in financial modeling from EY at the end of the course.
- Best practices
- Structuring and designing models
- Sector-specific working of revenue and expense
- Understanding various possible ways to compute different line items forming part of financial statements
- Tax calculation
- Integrating financial statements to present a cohesive output
- building macros
- Various approaches to valuation and how to apply them
- Presentation of output in an appealing as well as meaningful manner.
- Reputed global company.
- In-depth course
- Long term
- Certificate from Ernst & Young
FAQs: Financial Modeling Courses in Kenya
1) Which course is best for me?
All courses can have their pros and cons for you. So, to select a course that is good for you, we recommend further researching your favorite courses from the list above and selecting the course that suits you best in terms of availability, schedule, affordability, learning approach, syllabus, internship, and placement opportunities, support and overall of the environment of learning. By considering all these factors before you choose a course, will make sure you make the correct decision and are satisfied with it.
2) Are there any prerequisites for the financial modeling courses in Kenya?
Generally, these courses require an undergraduate degree or high school completion with experience in accounts. But some courses waive qualifications. Visit individual websites to know more about the prerequisites.
3) Where can I find further information for individual courses?
You can find further information like contact number, email address, and office address by visiting their websites or doing a Google search with the name of the course.
4) Is investing in this course worth it?
Yes. The field of finance has one of the most secure and sought-after jobs in the world. Although, you have to learn and gain experience to grow in the field, in the long term it can prove as a very satisfying career.
The world of financial modeling is very promising in the right hands. Enrollment in your preferred course promises good results in life and career provided you put in the necessary efforts to enjoy the fruits this career has to offer. Every seed in the garden needs to be tended by the gardener with effort and patience for it to grow into a tree and for him to enjoy its fruits. We hope the article helps you find the right course and start your career in Financial modeling in Kenya.