VBA, AI, and Excel - Paul Barnhurst’s Key Takeaways from 40 Episodes

Financial Modeler's Corner

In this special solo episode, host Paul Barnhurst, also known as "The FP&A Guy," reflects on key insights gathered from past episodes of Financial Modeler’s Corner. With over 40 episodes under his belt, Paul dives into recurring rapid-fire questions posed to expert financial modelers worldwide. From circular references to VBA use and Excel's future, this episode offers valuable wisdom on the art and science of financial modeling.

Paul Barnhurst, an accomplished financial modeling professional and host of the podcast, takes center stage. Paul is the founder of “The FP&A Guy” and has earned the prestigious Advanced Financial Modeler (AFM) certification from the Financial Modeling Institute (FMI). His wealth of experience and insights makes this solo episode both engaging and informative.

Key takeaways from this week's episode include:

• The most common preferences of expert financial modelers on key technical decisions.
• Why dynamic arrays and other Excel functions are becoming increasingly important, and the pace of their adoption.
• Insights into how artificial intelligence (AI) could impact financial modeling and whether it will replace human modelers.
• The importance of good design principles in financial models, as shared by leading financial modeling experts.
• Fun and practical Excel shortcuts used by seasoned modelers to boost efficiency and accuracy.

Here are a few quotes from Paul in this episode:

• "Circular references are dangerous because most people don’t really understand what’s going on, and it can lead to other errors in your model." - Paul Barnhurst
• "If at all possible, don’t use VBA in your model. The less you use it, the simpler the model is." - Paul Barnhurst
• "I’m of the belief that AI will build models for us. It’s a question of when, not if." - Paul Barnhurst

In this special solo episode, Paul Barnhurst takes a moment to reflect on the lessons learned from over 40 episodes of Financial Modeler’s Corner. He shares key takeaways from the rapid-fire questions posed to some of the top financial modelers in the world, offering a wealth of advice on best practices, common pitfalls, and emerging trends in financial modeling. As always, he invites listeners to reach out with feedback, questions, and guest suggestions, reinforcing the show's commitment to fostering a global community of financial modeling enthusiasts.

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In today’s episode:

[01:09] - Introduction and background

[03:18] - Circular references in models

[04:55] - VBA in financial models

[06:45] - Dynamic arrays: the future of excel?

[16:50] - Will excel ever die?

[18:16] - AI and financial modeling

[20:31] - Financial models as corporate decision-making tools

[22:26] - Favorite excel shortcuts from top financial modelers

[30:34] - Closing thoughts and invitation to audience