MBB consultant trying to learn how to model
Hi. As the title says, I’m a consultant teaching myself accounting and financial modeling and I’m considering recruiting next on-cycle. I’ve found solid materials on accounting basics and LBOs (e.g., WSP, Peak Frameworks, WSO), but I haven’t had much luck finding realistic three-statement model practice materials (the kind some firms use as a one- to two-hour timed exercise).
Does anyone have recommendations for where to find good practice tests? Or is the best approach to pull a company’s 10-K and build the whole thing from scratch?
Any pointers on resources and how to get faster under time pressure would be much appreciated.
Based on the most helpful WSO content, here’s what you need to know:
For realistic three-statement model practice materials, you can explore the following:
WSO Financial Modeling Templates: WSO offers a variety of financial modeling templates, including three-statement models, which can be a great starting point for practice. These templates are designed to mimic real-world scenarios and can help you get comfortable with the structure and flow of the models.
WSP (Wall Street Prep): You’ve already mentioned WSP, which is a solid resource. Their courses often include practice exercises and case studies that simulate the type of timed exercises you might encounter.
Building from Scratch Using a 10-K: This is an excellent approach to deepen your understanding. By pulling a company’s 10-K and building a model from scratch, you’ll gain hands-on experience with real data. It’s also a great way to practice under time pressure if you set a timer for yourself.
Free DCF Modeling Training Guide: WSO provides a free DCF modeling training guide, which includes foundational elements of financial modeling. While it focuses on DCF, it can complement your three-statement modeling practice.
Timed Practice: To improve speed, simulate the test environment by setting a strict time limit (e.g., 1-2 hours) and working through a model. Use templates or exercises from WSO or WSP to replicate the pressure of a real test.
WSO Forums: Engage with the WSO community forums. Many users share their experiences, tips, and even practice materials for three-statement modeling tests. You might find additional resources or advice tailored to your needs.
By combining these resources and practicing consistently, you’ll not only improve your modeling skills but also get faster under time constraints. Good luck with your preparation!
Sources: Help with 3-Statement Model Test, Real Estate Modelling Test Practice, Real Estate Modeling Test Examples, Preparing 300 hours for McKinsey and BCG offer
Sed perspiciatis illo alias neque quia. Sit quo laboriosam porro nisi explicabo omnis delectus.
Qui officia aut et hic. Molestiae optio et repellendus sed ducimus. Sed aut quibusdam fuga fugiat eligendi exercitationem non. Repellendus maxime hic minus dicta est ipsa. Ipsa quia officiis qui sit.
Aspernatur enim dignissimos quos neque fugit distinctio. Maiores ea quibusdam delectus quasi necessitatibus ex sapiente. Consequuntur quis aspernatur quo a.
Nemo est omnis dolor reiciendis. Minima dignissimos consequuntur nihil in dolorem aut sed. Voluptas ipsa et animi dolores. Sunt alias nobis quia enim.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...