Foundations Curriculum · Course 002 of 3
Excel Modeling for Financial Decisions
Build production-grade financial models from scratch. Ten modules plus a capstone, taught by a practitioner. Each module pairs a narrated build with an interactive worksheet that constructs the Excel template step-by-step — you type each formula, the harness validates, and at module completion you download the .xlsx of your work.
Dr. Kareem Tannous · ≈ 2 hr 30 min across 11 videos (target) · Capstone deliverable: integrated workbook + one-page valuation conclusion on a real publicly-listed company
Enrollment
$189 — Enroll for 12 months.
One-time payment. Twelve months of full access to Course 2 — Excel Modeling for Financial Decisions from your enrollment date. No auto-renewal. No subscription. No card-on-file recharge.
Enroll for $189 →Or get all three Foundations Courses for $504 → Bundle ($63 off)
How access works
- 12 months of full access from your enrollment date.
- Renewal: $72 within 90 days of expiration — grants 6 more months of access locked to your current course version.
- Re-purchase: $189 any time — fresh 12 months, latest curriculum, free updates within the new window.
- No auto-renewal anywhere. Every renewal is an explicit, opt-in, one-time charge.
Welcome to Course 002
1:25 · Optional · Orientation
A quick orientation from Dr. Tannous — what the course covers, who it’s for, and the interactive-worksheet pattern that defines this course. Available the moment your enrollment completes.
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The Ten Modules
Module 1 of 10
14–16 min target · refcard ready
Modeling Discipline — Why Most Models Are Broken
The seven rules that separate review-survivors from rework piles
It's three in the morning. The CFO is forwarding around a board model that has to ship in six hours. The terminal value doesn't tie. The named ranges point to two different sheets. Nobody can defend the number on the sum…
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Module 2 of 10
13–15 min target · worksheet live
Workbook Architecture — Sheets, Names, Defaults
How a model is laid out before a single formula is typed
Empty workbook on screen. Founder builds: Cover sheet → Inputs sheet → IS, BS, CFS, WC, Assets, Debt, DCF, Outputs tabs → tab colors → named ranges → defaults. The architecture decisions made in the first ten minutes det…
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Module 3 of 10
13–15 min target · worksheet live
Inputs — Building the Single Source of Truth
Every assumption lives here, named, dated, sourced — nowhere else
The Inputs sheet is the single most important tab in any production model. Every assumption — revenue drivers, margin assumptions, working-capital days, capex, debt, valuation — lives here exactly once, with a named rang…
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Module 4 of 10
12–14 min target · worksheet live
Income Statement Build
From revenue lines to operating income, driven entirely by Inputs
Build the IS from scratch driven entirely by named ranges from the Inputs sheet. Revenue line, COGS, opex, D&A, EBIT, interest, tax, net income. Every line traceable to either a historical filing number (in your historic…
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Module 5 of 10
13–15 min target · worksheet live
Working Capital and Operating Cash Flow
Days-based working capital and the bridge from net income to cash
Days-based working-capital schedule (DSO, DIO, DPO) and the indirect operating cash-flow build. Most models get working capital wrong; this module shows the right way. The cash-from-operations line is where accrual earni…
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Module 6 of 10
12–14 min target · worksheet live
Capital Expenditure and the Asset Schedule
Capex, depreciation roll-forward, and the implied capital-intensity check
Capex schedule by category. Depreciation roll-forward. Implied PP&E balance feeding the balance sheet. This module is where many models hide rounding errors — the depreciation schedule is mechanical, but the dependencies…
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Module 7 of 10
12–14 min target · worksheet live
Debt and Capital Structure Schedule
Tranche-by-tranche debt roll-forward, interest cost, capital structure
Debt schedule with multiple tranches. Each tranche: balance roll-forward, interest expense as average × rate, scheduled principal amortization. Sum to total interest expense feeding the IS. Capital-structure outputs (net…
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Module 8 of 10
12–14 min target · worksheet live
Balance Sheet and Cash Flow Tie-Out
Closing the loop — every cell consistent across all three statements
Assemble the integrated three-statement model. Balance sheet built from the prior schedules (asset, debt, working capital). Indirect cash flow from net income + D&A − ΔWC − capex + Δdebt. Diagnostic cells: balance-sheet…
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Module 9 of 10
12–14 min target · worksheet live
Sensitivity, Scenarios, and Outputs
Data tables, scenario manager, and the one-page outputs dashboard
The model can answer one question: what is the value? But that's a single number. Real reviewers ask: how sensitive is it to assumption X? What's the range under reasonable scenarios? This module covers two-variable data…
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Module 10 of 10
12–14 min target · worksheet live
DCF Valuation — Putting It All Together
Free cash flow, WACC, terminal value, and the football-field summary
FCF build from the projected income statement plus working-capital and capex schedules. WACC build (cost of equity + cost of debt + capital-structure weights). Terminal value via Gordon growth and exit multiple. Football…
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About This Preview Surface
Internal-only preview surface for founder review and testing. The HTML is served from Azure Static Web Apps; videos and the M01 reference card are served from Azure Blob Storage with public anonymous read. The robots meta on every page is noindex, nofollow.
Course 002 differs from Course 001 in production approach: HeyGen Avatar V is composited over an Excel screencast (avatar in lower-right corner; the workbook is the visual focus). The worksheet pedagogy is also different — instead of static .md worksheets, learners construct the Excel template step-by-step in an interactive builder that validates formulas and exports a working .xlsx file at module completion.
Status as of 2026-05-05: All 10 module scripts + capstone + welcome scripts authored. M01 reference card .xlsx generated and uploaded. M01 quiz authored. Course 002 test harness built (M01 fully wired; M02–M10 + capstone placeholdered). HeyGen renders pending; the worksheet builder lands with the Module 2 build.