Financial Modelling — Build a 3-Statement Model + DCF
The course a bank makes you sit before you touch a live model — built from a blank sheet. Over twelve modules you construct a complete, integrated three-statement model on Sokoni, a recognisable African business, and value it: an income statement, balance sheet and cash flow that link and balance to the cent, and a DCF that hangs off them and survives a stranger's review. Every number is traced, every schedule built by hand, every error deliberately broken and fixed. Extremely practical, industry-ready, and shadowed by two LeadAfrik tools — the interactive DCF model and the downloadable, formula-driven Excel workbook you rebuild here cell by cell.
12
Modules
~11h 15m
Reading time
Intermediate
Level
Self-paced
Format
Syllabus
- 01→
What a financial model is
One source of truth — the single discipline that separates a professional model from a spreadsheet — and the company you'll build on.
~35 minModule 01 - 02→
Excel for modelling — the cardinal rules
One formula per row, the colour conventions, absolute anchoring, and the tab structure that makes a model auditable instead of a liability.
~45 minModule 02 - 03→
Building the income statement
Revenue from a driver down to net income — every line a rate applied to the line above, never a typed number, with forward links to the schedules.
~55 minModule 03 - 04→
The balance sheet and cash flow
Assemble both statements and wire the one link — closing cash — that turns three tables into an integrated model that balances to the cent.
~60 minModule 04 - 05→
Making it balance
Why a correctly-linked model balances, the live balance check, and how to read it like a diagnostician the moment it doesn't.
~55 minModule 05 - 06→
The supporting schedules
Working capital, PP&E and depreciation — the workings that feed the three statements without a single hardcode.
~55 minModule 06 - 07→
Debt, interest, and circularity
The debt roll-forward, interest on opening balances, and the clean choice that keeps the model free of circular references.
~55 minModule 07 - 08→
Forecasting from drivers
Turning assumptions into a defensible five-year forecast — growth, margins, capex intensity — and defending the sanity of each.
~55 minModule 08 - 09→
The DCF, straight off the model
Unlevered free cash flow, WACC, terminal value, and enterprise value to value-per-share — driven live from the statements you built.
~60 minModule 09 - 10→
Sensitivity and scenarios
Data tables, the tornado chart, the Scenario Manager, and the reverse DCF — presenting a range, never a single false point.
~55 minModule 10 - 11→
Auditing and error-proofing
The structural checks, the formula habits, and the written review a model passes before it leaves your desk for a committee.
~55 minModule 11 - 12→
Capstone — the complete worked model
Assemble everything into one balancing model and DCF on Sokoni, and defend the value per share end to end.
~90 minModule 12
How to use this course
Start with module 01 if the material is new; skip ahead if you have prior exposure. Each module is self-contained but the arc is sequential — the projects in the final module assume the toolkit from modules 1-11. Every module ends with key takeaways and a curated further-reading list with primary sources.