Financial Modeler's Corner

In this episode of The ModSquad, Paul Barnhurst, Ian Schnoor, and Giles Male put Claude 4.6 to the test on real financial modeling accreditation cases. From three-statement forecasts to complex debt sculpting scenarios, the team examines just how far AI tools have come. The results are impressive, but not flawless. The discussion explores what this leap forward means for finance professionals and whether modeling is truly entering a new AI-assisted era. Ian Schnoor is Executive Director of the Financial Modeling Institute (FMI), the global accreditation body for financial modeling professionals. He brings extensive experience in modeling, training, and industry standards. Giles Male is Co-Founder of Full Stack Modeller and a two-time Microsoft MVP. He specializes in Excel, financial modeling systems, and practical AI implementation. Expect to Learn Here are a few quotes from the episode: Claude 4.6 marks a significant step forward in AI-assisted financial modeling, handling complex builds faster than ever before. However, subtle errors still highlight the need for strong technical knowledge and human oversight. The future of modeling isn’t replacement, it’s skilled professionals using AI to work smarter and deliver greater value. Follow Ian: LinkedIn - https://www.linkedin.com/in/ianschnoor/ Follow Giles Male: LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/ In today’s episode: [04:06] – Testing Claude [11:14] – Augmentation vs. Automation in Modeling [18:14] – The Value of Documentation in Modeling [28:43] – Debt Modeling with AI [33:20] – Transition from Manual to AI-Enhanced Modeling [38:16] – Testing with New Tools [41:24] – Debt and Equity Modeling with AI [46:45] – Claude's Progress & Areas for Improvement [57:33] – Final Thoughts

In this episode of Financial Modeler's Corner, host Paul Barnhurst is joined by Chris Reilly, founder of Financial Modeling Education, for an insightful discussion on the importance of mastering financial modeling fundamentals in the age of AI. Chris shares his perspective on how AI is transforming the modeling industry, why understanding the basics is more important than ever, and how dynamic arrays are changing the modeling landscape. Chris Reilly is a financial modeling expert with over 91,000 students trained globally. He has a diverse background, having worked in private equity and FP&A, and has developed a range of training programs through Wall Street Prep, Wharton, LinkedIn Learning, and his own courses. Chris emphasizes that strong foundational knowledge in finance and accounting is crucial to leveraging AI and new technologies effectively. Expect to Learn Here are a few quotes from the episode: Chris highlights how AI can help with dynamic arrays and improve model efficiency, but stresses that it should never replace the need for a strong understanding of financial fundamentals. His focus is on helping modelers leverage the right technology without bypassing essential knowledge. Follow Chris: LinkedIn: https://www.linkedin.com/in/chris-reilly-mission-capital/ Homepage: https://www.financialmodelingeducation.com/ Email list: https://financialmodelingeducator.com/ Follow Financial Modeler's Corner: LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/ Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984 Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’. Visit

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes back Chris Reilly for a deep and practical conversation on financial modeling fundamentals in the age of AI. Chris shares why mastering the basics still matters more than ever, how AI is changing modeling workflows in reality (not hype), and where automation genuinely adds value versus where human judgment is still essential. Chris Reilly is a former private equity professional and financial modeling expert with experience spanning restructuring, FP&A, treasury, and middle market private equity. He began his career at FTI Consulting during the financial crisis, working on major bankruptcies, including Lehman Brothers, before moving to Hilton Worldwide and later into private equity. Chris is the founder of Financial Modeling Education, where he has trained more than 90,000 professionals worldwide, teaching real-life models used to acquire and manage private equity-backed businesses. Expect to Learn Here are a few quotes from the episode: Chris emphasizes that while AI and automation can improve efficiency, they do not replace the need for strong accounting knowledge, modeling fundamentals, and business understanding. He explains that the best modelers focus less on tools and functions and more on clarity, reliability, and helping decision makers understand what to do next. Follow Chris: LinkedIn: https://www.linkedin.com/in/chris-reilly-mission-capital/ Homepage: https://www.financialmodelingeducation.com/ Email list: https://financialmodelingeducator.com/ Follow Financial Modeler's Corner: LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/ Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984 Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’....

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Luke Phillips, Senior Business Analyst at Access Analytic. Luke shares how he transitioned from Division I basketball to financial modeling, and how he helps clients solve complex budgeting and reporting problems using Solver, Excel, and Power BI. Luke Phillips is a chartered financial modeler and the Senior Business Analyst at Access Analytic. He works with clients across mining, oil and gas, manufacturing, and professional services to streamline budgeting and reporting through Solver and Excel. Luke holds a BBA in Finance from the University of Louisiana at Monroe, where he also played Division I basketball. Expect to Learn Here are a few quotes from the episode: Luke Phillips brings a grounded, real-world perspective to financial modeling, shaped by both professional experience and athletic discipline. His approach blends technical skill with a clear focus on communication and usability. Whether solving client challenges with Solver or exploring new Excel features, Luke keeps modeling practical and purpose-driven. Follow Luke: LinkedIn: https://www.linkedin.com/in/luke-phillips-75859013a/ Company: https://www.linkedin.com/company/access-analytic/ Follow Financial Modeler's Corner: LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/ Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984 Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’. Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. In today’s episode: [02:09] - Life in Australia & Background [03:16] - First Model Mistake &...

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Karishma Ramanwaj, a financial modeler based in Mauritius, to talk about her journey in financial modelling, building and reviewing models, and the lessons she’s learned from both success and failure. Karishma shares her experience of learning on the job, why understanding the end user is critical, and how she balances practical standards with flexibility. Karishma is a Certified Advanced Financial Modeler (AFM) and FMVA® professional, currently working as a Financial Modeler Associate at Hawkins Eberdal Ltd in Mauritius. With a strong foundation in both project and corporate finance, Karishma specializes in building decision-ready financial models that support capital raising, risk evaluation, and business growth. Expect to Learn Here are a few quotes from the episode: Karishma Ramanwaj’s story is a great example of growth through practice, persistence, and passion for financial modeling. Her focus on clarity, flexibility, and end-user needs brings valuable perspective to the modelling process. From overcoming early challenges to passing the AFM exam, she shows the importance of continuous improvement. Follow Karishma: LinkedIn: https://www.linkedin.com/in/karishma-ramnawaj/ Follow Financial Modeler's Corner: LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/ Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984 Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’. Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. In today’s episode: [01:56] - Guest Intro [04:51] - Journey into Modelling [06:00] - Why She Loves Modelling [08:37] - Storytelling with...

In this episode of The ModSquad, hosts Paul Barnhurst, Ian Schnoor, and Giles Male welcome Tim Jacks, founder of Taglo, for an insightful discussion on the integration of AI in financial modeling. Tim’s expertise bridges the worlds of financial modeling and AI, and in this episode, he shares his journey and discusses how AI is reshaping the financial modeling landscape. Tim Jacks is the founder of Taglo, a company dedicated to improving financial modeling with AI technology. His career journey spans financial consulting and software development, including building financial modeling tools. Over time, Tim's interest in artificial intelligence grew, and he delved into how AI, particularly Large Language Models (LLMs), could be used to enhance financial modeling processes. Expect to Learn Here are a few quotes from the episode: Tim Jacks provided valuable insights into the integration of AI in financial modeling, particularly how LLMs and agents are transforming workflows. While AI can significantly enhance efficiency, human expertise remains essential for applying financial modeling principles. Understanding the technical workings of these tools helps users leverage them effectively. The future of financial modeling will be human-led, AI-assisted. Follow Tim: LinkedIn: https://www.linkedin.com/in/timjacks/ Follow Ian: LinkedIn - https://www.linkedin.com/in/ianschnoor/ Follow Giles Male: LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/ In today’s episode: [00:05] - Intro & Hosts [01:33] - Guest Introduction: Tim Jacks [02:42] - Tim's Background in Modelling & AI [04:16] - What Are LLMs Really? [09:55] - ChatGPT vs. LLMs Explained [12:09] - LLMs Have No Memory [15:02] - How Tools Add Context to AI [19:35] - What Is an AI Agent? [22:35] - How Excel Agents Work [30:08] - Demo: Tools in Action [35:03] - Defining an Agent: LLM + Tools + Prompts [38:49] - Key Takeaway for Modellers

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Carolina Lago, a seasoned FP&A professional, to discuss how financial modelers can transform data into actionable insights while avoiding common modeling pitfalls. Together, they explore best practices in financial modeling, the dangers of hard-coded models, and why structure, flexibility, and clear purpose are essential for effective decision-making. Carolina also shares lessons from her international career, including her experience supporting a major IPO and leading global software implementations. Carolina Lago is an FP&A professional with over 15 years of international experience across multiple industries. She has played key roles in high-impact projects, including IPO preparation and enterprise-wide financial system implementations. Carolina is also the creator of the TACTIC framework, which helps financial professionals build models that are structured, insightful, and decision-focused. Expect to Learn Here are a few quotes from the episode: Follow Carolina: LinkedIn – https://www.linkedin.com/s-carolinalago Website – https://www.tacticfinancial.com In today’s episode: [00:00] - Trailer [00:50] - Guest Introduction [01:00] - Horrifying Financial Models [02:00] - Early Career Modeling Mistakes [03:10] - Carolina’s Global Career Journey [05:00] - Turning Data into Actionable Insights [07:30] - Introduction to the TACTIC Framework [09:50] - Learning Resources & Community Engagement [20:00] - Certifications and Continuing Education [22:40] - Rapid-Fire Round [24:50] - Advice for Aspiring Financial Modelers [26:00] - How to Connect and Learn More

In this special episode of Financial Modeler’s Corner, host Paul Barnhurst recaps an exciting 2025 and outlines what's ahead for 2026. Paul reflects on the top five most downloaded episodes of the year, shares insights from key guests, and highlights major developments in financial modeling, including Excel's newest features and the growing role of AI. Expect to Learn Here are a few quotes from the episode: In today’s episode: [02:01] – Mod Squad Launch [03:02] – AI and Modeling [03:45] – Excel Feature Highlights [06:28] – Excel Championship Recap [10:12] – AI in Financial Modeling [12:54] – Time-Saving Modeling Tips [16:02] – Three-Statement Modeling [17:38] – Strategic Thinking for Modelers [20:30] – Final Thoughts and Certification Offer

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Ian Bennett, Partner and Deals Modelling Leader at PwC Australia, to discuss the art and science of financial modeling. Together, they explore what makes a good financial modeler, how Excel has evolved dramatically in recent years, and how emerging tools and AI are shaping the future of modeling. Ian reflects on his decades-long career, from his early days discovering Excel during audits to leading a large team of modelers across Australia and India. Ian Bennett is the Deals Modelling Partner at PwC Australia and a Master Financial Modeler (MFM) certified by the Financial Modeling Institute. With 24 years of hands-on experience in building and leading modeling teams, Ian’s approach combines deep technical expertise with a strong focus on communication, design, and problem-solving. He leads a 50-person modeling team at PwC and is known for his passionate advocacy for best practices, new tools, and innovation in modeling, including integrating AI and the latest features in Excel. Expect to Learn Here are a few quotes from the episode: Follow Ian: LinkedIn - https://www.linkedin.com/in/ianrbennett/ Website - https://www.pwc.com.au/deals/modelling.html In today’s episode: [00:00] - Trailer [01:09] - Introduction to Ian Bennett [02:13] - Worst Model Ian Has Seen [06:17] - Ian’s Background & Early Interest in Excel [08:19] - Becoming a Master Financial Modeller (MFM) [09:43] - Global Excel Summit Highlights [11:53] - What Makes a Great Financial Modeller [16:38] - Importance of Listening & Understanding Client Needs [23:03] - Time Allocation: Design vs. Building in Excel [28:14] - Modelling Tools Beyond Excel [31:34] - Excel’s Evolution & Exciting New Features [39:08] - Rapid Fire Questions [41:50] - Will AI Build Financial Models? [47:12] - Final Advice for Aspiring Modellers

In this episode of The ModSquad, hosts Paul Barnhurst, Ian Schnoor, and Giles Male are joined by Tea Kuseva, Community Manager at the Financial Modeling Institute, for a detailed discussion on the state of AI tools in financial modeling. The group continues its hands-on testing of seven tools, including TabAI, Excel Agent, Shortcut, and TrufflePig, evaluating how these platforms perform on real-world financial modeling tasks Tea Kuseva is the Community Manager at the Financial Modeling Institute (FMI), the only global accreditation body dedicated to financial modeling. With her deep involvement in the modeling community and her role supporting professionals worldwide, Tea Kuseva brings thoughtful questions and provides structure to the discussion, helping translate technical insights into practical takeaways for finance professionals. Expect to Learn Here are a few quotes from the episode: AI tools show promise in assisting with financial modeling, but they are not yet reliable enough to replace human expertise. Strong Excel skills and sound judgment remain essential. Used wisely, AI can enhance productivity, but it should complement, not replace, technical understanding. The future of modeling is human-led, AI-assisted. Follow Ian: LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=ca Follow Giles Male: LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/ Follow Tea: LinkedIn: https://www.linkedin.com/in/tkuseva/ In today’s episode: [01:16] - Guest Intro [06:07] - Tools Under the Microscope [07:59] - The Testing Framework [13:43] - Lessons from the Esports Challenges [19:33] - Real Examples from the Tools [25:54] - Practical Use Cases for AI Today [33:56] - Variability in AI Outputs [39:40] - Looking Ahead: The Next Five Years [44:58] - Final Comments [46:13] - Final Thoughts and Key Takeaways

In this episode of The Mod Squad, hosts Paul Barnhurst, Ian Schnoor, and Giles Male continue their hands-on testing of AI tools for financial modeling. This time, they put Subset, an AI-powered spreadsheet tool still in beta, through its paces. The hosts explore whether Subset can realistically handle core financial modeling tasks, including importing Excel files, building three-statement models, and applying basic accounting logic. Along the way, they uncover significant limitations, bugs, and logical errors that highlight the risks of relying on unsupported or immature tools. Expect to Learn Here are a few quotes from the episode: Subset shows ambition in trying to act as a full AI spreadsheet, but the testing reveals serious issues, from incorrect formulas to flawed financial logic and unstable performance. While the tool demonstrates how far AI experimentation has come, it also serves as a cautionary example of why finance professionals must validate outputs and maintain strong technical foundations. Follow Ian: LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=ca Follow Giles Male: LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/ In today’s episode: [02:40] – Welcome back to The Mod Squad [05:04] – Introducing Subset and its promises [08:38] – Importing Excel files into Subset [11:27] – Errors, bugs, and beta limitations [13:50] – Building a three-statement model from scratch [19:25] – A Basic Revenue Reality Check [22:37] – Why Excel Is Hard to Replace [27:10] – Lessons learned from testing multiple tools [30:01] – Why Structured Data Matters

In this episode of The Mod Squad, hosts Paul Barnhurst, Ian Schnoor, and Giles Male continue their exploration of tools for financial modeling. This time, they test Melder, a tool designed to streamline financial modeling tasks in Excel. The hosts evaluate how it handles various financial exercises, such as creating formulas and generating a deferred revenue schedule. While the tool shows promise, the hosts identify areas where Melder has room to improve, particularly with bugs and user experience quirks. This episode also highlights the challenges of using tools still in beta. Expect to Learn Here are a few quotes from the episode: Melder offers some useful features for financial modeling, such as custom formulas and file handling, but it still faces challenges like data overwriting and slow performance. While it shows potential, especially in automating tasks, it needs further refinement to become a reliable tool for complex financial tasks. As it continues to evolve, we look forward to seeing how it improves and addresses these issues. Follow Ian: LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=ca Follow Giles Male: LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/ In today’s episode: [00:31] - What is Melder? [03:30] - Melder’s Website and Features [08:40] - Testing Melder on Financial Modeling Tasks [12:00] - Exploring Melder’s Formula Creation Capabilities [14:30] - Overview of the LLM Model and Google Gemini Models [19:43] - Testing the Trial Balance and Tool's Thought Process [24:08] - Understanding Overengineered Formulas [32:05] - Testing the PVM Use Case and Encountering Errors [41:51] - Final Thoughts and Melder’s Future Potential

In this episode of Financial Modeler’s Corner, hosts Paul Barnhurst and Ian Schnoor continue their exploration of AI tools for financial modeling. This time, they test Trufflepig, a tool designed to help financial analysts automate spreadsheet tasks while still allowing them to focus on the insights. The hosts test Trufflepig on various financial modeling tasks, discussing its performance and how it compares to other tools they've used. They cover tasks such as building a DCF model for Nvidia, generating executive summaries, and creating a financial forecast. While Trufflepig performs well in some areas, there are still challenges that need to be addressed, particularly with certain financial concepts like working capital and net income. Expect to Learn Here are a few quotes from the episode: Trufflepig is a promising tool for financial professionals, particularly those looking to automate repetitive spreadsheet tasks. While it performs well on basic tasks like building DCF models and creating executive summaries, there are areas for improvement, especially around financial concepts like working capital and the handling of complex formulas. Follow Ian: LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=ca Trufflepig: https://Trufflepig.ai/ In today’s episode: [01:40] – Review of Previously Tested AI Tools [05:15] – Trufflepig’s Positioning and Messaging [12:00] – Trufflepig Attempts the eSports Modeling Case [22:00] – Challenges with TEXTSPLIT and Modern Excel Functions [30:50] – Executive Summary Generation [40:01] – Data Sourcing and Web Pulling Behavior [49:26] – Reasons for DCF and Market Price Differences [59:45] – Exporting to Excel and Formatting Issues [1:12:26] – Final Review and Closing Thoughts

In this episode of The ModSquad on Financial Modeler’s Corner, Giles Male and Ian Schnoor put Elkar to the test, a financial modeling tool that's been getting attention for its speed and slick design. From solving structured Excel challenges to building full forecast models, they push the tool to its limits. What follows is a revealing look at how Elkar performs when accuracy, logic, and professional modeling standards are on the line. Along the way, they uncover surprising strengths, critical flaws, and even moments of unexpected comedy. Whether you’re curious about automation or cautious about AI in finance, this episode offers plenty to think about. Expect to Learn Here are a few quotes from the episode: In this episode, Elkar proves to be a fast and visually polished AI tool with clear potential, especially in formatting and task execution speed. However, when it comes to financial logic, assumption structuring, and balance sheet integrity, it consistently misses the mark. The tool even resorts to shortcuts like hardcoding values and plugging imbalances. Follow Giles Male: LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/ Follow Ian: LinkedIn - https://www.linkedin.com/in/ianschnoor/?originalSubdomain=ca Elkar: https://elkar.co In today’s episode: [06:48] - Exploring Elkar: Website, Pricing, and Features [10:34] - Elkar Takes on the Esports Excel Challenge [20:14] - Elkar Gets Caught Cheating [24:18] - Elkar Struggles with Complex Logic [35:45] - Cash Flow Logic & Balance Sheet Errors [46:38] - From Hardcoding to Dynamic Assumptions [53:45] - Balance Sheet Plugging and Logical Failure [57:34] - Reviewing Elkar’s Working Capital Assumptions [1:04:20] - Wrap up & Final Thoughts

In this episode of The ModSquad on Financial Modeler’s Corner, Paul Barnhurst and Giles Male put Shortcut under the AI microscope, testing one of the most hyped AI tools in the financial modeling world. With claims like “the most accurate Excel agent in the world” and the ability to outperform human champions in modeling tasks, Shortcut has made a big splash, but does it live up to its own bold promises? Paul and Giles run it through a rigorous series of real-world modeling challenges, from esports cases and financial forecasts to dashboard analysis and deferred revenue schedules. What they find is a tool with clear potential, and some serious red flags. Expect to Learn Here are a few quotes from the episode: Despite the hype, Shortcut proved to be a solid tool with promise. It delivered impressive formatting and UI, yet had some serious issues like incorrect logic, hardcoded values, and non-balancing models, which held it back. A promising AI assistant, just not a replacement for real modeling expertise. Follow Giles Male: LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/ In today’s episode: [01:15] - Intro & Where the AI Modeling Journey Stands [05:11] - Shortcut: First Impressions & Bold Claims [14:28] - Viral Demo Video Breakdown [23:12] - Esports Challenge: Basic Excel Tasks [31:19] - Intermediate Case: Modeling Accuracy [36:10] - Building a 3-Statement Forecast [44:24] - Red Flags: Formatting & Balance Sheet Errors [50:27] - Deferred Revenue Test [56:32] - Trial Balance Dashboard: Visuals vs. Substance [1:07:22] - Final Thoughts & Shortcut's Ranking

In this episode of The Mod Squad on Financial Modeler’s Corner, Paul Barnhurst, Ian Schnoor, and Giles Male take a close look at TabAI, a tool designed to simplify and speed up Excel tasks using automation and intelligent suggestions. With more tools dropping out of the market and Excel’s own Agent feature gaining ground, the question is simple: Does TabAI offer something worth switching to? From cleaning data and building dashboards to attempting a full five-year forecast, the team puts TabAI through a series of real-world modeling challenges to see what it gets right and where it still falls short. Expect to Learn Here are a few quotes from the episode: TabAI turned out to be one of the more impressive tools we’ve tested so far, especially when it comes to everyday Excel tasks and building dashboards. It’s not perfect, especially with full-scale models, but it’s definitely a step in the right direction. For now, it’s a great helper, but you’ll still need your own modeling skills to get the job done right. Follow Ian Schnoor: LinkedIn - https://www.linkedin.com/in/ianschnoor/ Follow Giles Male: LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/ In today’s episode: [02:28] - TabAI Leaves Retail [05:17] - Competing with Excel Agent [06:50] - TabAI Feature Overview [10:30] - The “Iron Man Suit” Claim [14:28] - eSports Case Test [23:12] - Dancing Fur Coat Model [29:14] - Trial Balance Dashboard [33:56] - Deferred Revenue Test [38:36] - Full Forecast Model Build [51:10] - Final Thoughts

In Episode 5 of The ModSquad on Financial Modeler’s Corner, Paul Barnhurst, Ian Schnoor, and Giles Male take a hard look at the changing landscape of financial modeling in the wake of Microsoft’s release of Excel Agent. Since launching at the end of September to coincide with Excel’s 40th birthday, Excel Agent has quickly changed the competitive dynamics for AI-powered modeling tools. The team explores the implications: how Excel Agent’s capabilities compare to other tools, why third-party platforms are shutting down, and what all this means for the future of work in modeling-heavy industries like investment banking. Expect to Learn Here are a few quotes from the episode: This episode makes it clear: AI is not a replacement for skill; it’s a multiplier. Excel Agent may be setting the new standard, but success still comes down to human understanding, judgment, and accountability. As the modeling world evolves rapidly, professionals who stay informed and upskill will thrive. The Mod Squad isn’t slowing down either; more tool reviews and sharp conversations are coming. Follow Ian Schnoor: LinkedIn - https://www.linkedin.com/in/ianschnoor/ Follow Giles Male: LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/ In today’s episode: [05:29] - AI Tools Recap [07:26] - AI Hype and Hidden Risks [10:23] - AI as a Skill Magnifier [13:48] - Microsoft’s Impact on AI Startups [16:15] - Rapid Evolution of Excel AI [21:29] - OpenAI’s Role in Financial Modeling [29:17] - Understanding Assumptions and Calculations [31:53] - Final Thought

In this episode of The ModSquad on Financial Modeler's Corner, Paul Barnhurst, Ian Schnoor, and Giles Male explore Microsoft’s newly released Excel Agent, a beta tool designed to bring AI into Excel Online. The team compares its performance to Rosie AI, running both through a range of tasks, including formula building, audit reviews, and a full five-year model forecast. Along the way, they test the tools against real modeling challenges like the Excel Esports case and a creative custom case, "The Humble MVP." This isn’t just about flashy tech. It’s a deeper conversation on where AI can help, where it falls short, and why core financial modeling skills still matter. Expect to Learn Here are a few quotes from the episode: Follow Ian Schnoor: LinkedIn - https://www.linkedin.com/in/ianschnoor/ Follow Giles Male: LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/ In today’s episode: [02:21] - What is an Excel Agent and why does it matter? [05:37] - Sharpen Your Modeling Skills [06:51] - Modeling Requires Human Judgment [09:27] - Esports Case: Rosie AI vs Excel Agent Test [19:39] - Excel Agent Hangs in Beta Mode [25:26] - Testing PVM in the Smoothie Business Case [30:01] - Ian Takes Over: Testing Excel Agent on AFM Model [44:11] - Building a five-year forecast model from scratch [55:19] - Adding a revolver to the model [01:00:12] - Why the balance sheet doesn’t balance [01:03:46] - Final thoughts and takeaways

Note: This episode was recorded and scheduled for release before the recent announcement that Rosie AI is shutting down. In this episode of the ModSquad series on Financial Modeler’s Corner, host Paul Barnhurst is joined by modeling experts Ian Schnoor and Giles Male to evaluate Rosie AI, a new tool that integrates with both Excel and Google Sheets. Together, they test its capabilities in building financial models, solving complex FP&A tasks, and performing real-world use cases. They push Rosie through a series of tests, from basic formula creation to building full three-statement models, and discuss where it excels, where it needs improvement, and its potential future in the world of financial modeling. Expect to Learn Here are a few quotes from the episode: Follow Ian Schnoor: LinkedIn - https://www.linkedin.com/in/ianschnoor/ Follow Giles Male: LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/ Rosie AI: https://www.askrosie.ai/ In today’s episode: [02:23] - Excel Turns 40 [07:29] - Microsoft’s AI Agent vs. Modeling Tools [16:18] - Exploring Rosie’s Website and Features [25:35] - Real-World FP&A Test: Trial Balance Summary [35:53] - Deferred Revenue Schedule Test [50:54] - Detecting Inconsistent Formulas in Financial Models [01:00:53] - Testing Rosie AI on a Five-Year Forecast Model Build [01:08:31] - Final Thoughts: Where AI Helps and Where It Doesn’t

Disclaimer: This episode is best experienced in video format. Since we’re testing new tools like Tracelight, the visuals add valuable context and make everything much clearer. We highly recommend watching the video for the full experience. In this episode of the ModSquad series on Financial Modelers’ Corner, host Paul Barnhurst is joined by modeling experts Ian Schnoor and Giles Male to evaluate Tracelight, a new Excel-based modeling tool. Together, they explore how well it performs across real-world use cases in FP&A, Excel eSports, and corporate finance. From auditing balance sheets to solving Excel battle cases and building five-year forecast models, the ModSquad puts Tracelight through a comprehensive test to assess what it gets right, what it gets wrong, and where it still needs improvement. Expect to Learn Here are a few quotes from the episode: Follow Ian Schnoor: LinkedIn - https://www.linkedin.com/in/ianschnoor/ Follow Giles Male: LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/ Tracelight: https://tracelight.ai/ In today’s episode: [02:22] - Tracelight Overview & Positioning [09:46] - Giles vs. Excel eSports Battle Case [18:00] - Reviewing Tracelight’s Logic and Output [28:04] - Advanced Test: Championship-Level Modeling [33:59] - AI Tools and the Learning Curve [41:49] - Deferred Revenue Schedule Test [56:26] - Why Doesn’t the Balance Sheet Balance? [1:02:21] - Fixing Balance Sheet Errors Using Cloud Opus [1:316:00] - Episode Wrap-Up and Final Thoughts