Best Practice & FAST
Best Practice
We believe that the spreadsheet is the foundation of financial communication and that a financial spreadsheet is a tool for communication and collaboration as well as calculation. Therefore Flexibility, Accuracy, Structure and Transparency are all essential.
Flexibility – Model design and modelling techniques must allow models to be adapted easily and quickly when new information becomes available.
Accuracy – Models must reflect key business assumptions directly and faithfully without being overbuilt or cluttered with unnecessary detail.
Structure – Rigorous consistency in layout and organisation is essential to retain a model’s logical integrity over time, particularly as a model’s author may change.
Transparency – Successful modelling is founded on simple, clear calculations that can be understood by other modellers and non-modellers alike.
The FAST Standard
The FAST standard was founded on its acronym, Flexible, Accurate, Structured, and Transparent, over ten years ago. It is now used by thousands of modellers worldwide as a shared code for financial modelling.
The ongoing development of the standard is a collaborative process in which all professional financial modellers can participate. This collaboration condenses millions of man hours of practical experience into a professional and effective set of rules that is increasingly becoming the quality benchmark for the world's leading businesses, banks and advisors.
A1 Financial Modelling complies with the FAST standard and all other best practice in its financial modelling consultancy and modelling training courses.
To enquire further about any of our services, please contact A1 Financial Modelling.
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