All class emails are sent to the email address per the NYU Brightspace roster. The Almaris system (if used for your class) also uses the same email. NYU Brightspace lists email for some of you and email for others. I don’t control these matters, nor can I change them. Please contact NYU IT (212-998-3333) or NYU Stern IT (212-998-0180) to learn how to read/forward/check spam for as well as accounts. Contact them for all ZOOM/email/NYU Brightspace/Admin/CapitalIQ issues. If NYU/Stern support cannot help you, please escalate these matters to Student Affairs/Dean's office without involving me. I will not respond to support requests. Almaris support cannot change emails. You can do so by clicking on the link "Change email" on their main login page.

Fall 2021: Tuesday evenings from 6-9 PM. I will teach this course in person, but I will also turn on Zoom. You are encouraged to attend in person, but you are welcome to attend via Zoom.

Please make sure you read the Announcement in NYU Brightspace for this course and read the details about highly recommended prework.


MBA ACCT-GB-3304 Specializations:

Various management disciplines teach you how to analyze and forecast parts of a business. Building on this foundation, this course will help you weave your forecasts into coherent spreadsheet-based pro-forma financials. Modeling financial statements provides a reality check on the forecasts, enables “what if” analysis, provides an integrated view of the business, and is a key step in valuation and credit risk analysis.

The course is indispensable to careers in investment banking, private equity, buy-side or sell-side research, credit research, corporate finance, valuation, project finance, and due diligence advisory. It gives a competitive edge during interviews, internships, and jobs. First-year and second-year students can both take this course.

Help and Office


Administrative Issues

Materials and Course Design

Almaris Assignments

Exams and Grading

Important computer tips for the final


Module Topic

Deriving cash flows, enterprise or unlevered cash flows


Building blocks of models; Linking cash flow forecasts to value


Designing models, Customers; Suppliers, employees, and other expenses


Multiperiod models: Long-term accruals and deferrals


Excel tools for scenario analysis; Capacity: PP&E and depreciation


Modeling taxes


Modeling financing


Time value of money and bonds


Integrative analysis


Which cash flows should one discount


Prioritizing assumptions in models; sensitivity analysis