Distinguish your skills. Elevate your career.
Join a global network of financial modelers.

Why the AFM?
Become an excellent financial modeler and validate your skills with the AFM accreditation.
The Advanced Financial Modeler (AFM) accreditation is FMI's flagship program.
Use FMI's learning resources to prepare for the AFM exam, a rigorous, proctored, 4-hour online exam.
Once you attain the AFM accreditation, you will be able to...
- Validate your ability to build a 3-statement model of a company from scratch
- Create a model that can be used as a critical decision-making tool, allowing users to make accurate and informed financial decisions
- Use a financial model as a powerful communication tool to clearly and effectively tell the story of a company

Advanced Financial Modeler (AFM) Curriculum
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Validate your advanced financial modeling knowledge and technical skills with the AFM accreditation.
AFM accreditation holders have learned, and demonstrated that they have acquired the skills and discipline to build best-in-class models that avoid all the errors commonly found in models

Model Planning & Design
This module introduces financial modeling essentials and the AFM Exam, focusing on the development, planning, and design of effective financial models.

The Front End
This module focuses on the different sections in the "Front End" of financial models, showing how to create a cover page, executive summary, apply key formatting concepts, and build scenarios.

Revenue
This module teaches how to forecast revenues and build a company’s revenue schedule, covering various methodologies, incorporating capacity constraints, and schedule construction.

Costs
This module covers forecasting various types of costs and building a company's cost schedule, focusing on proper forecasting methods, understanding operating leverage, and efficient financial statement creation.

Depreciation
This module focuses on building a company's depreciation schedule, covering methodologies for depreciating fixed assets, structuring schedules, utilizing Excel functions for capital expenditure forecasts, and linking outputs to financial statements.

Income Tax
This module teaches building a company's income tax schedule, emphasizing its importance, causes of deferred tax, construction of the schedule, and linkage to financial statements.

Working Capital
This module focuses on building a company’s working capital schedule, explaining the differences from other assets and liabilities, assumptions, and calculations needed for forecasting.

Capital Structure
This module elucidates the purpose, components, and construction of debt and equity schedules in a capital structure, highlighting various types, modeling cash, and key considerations for the revolver.

Financial Statements
This module instructs on building the three financial statements: Income Statement, Cash Flow Statement, and Balance Sheet.

Outputs and Troubleshooting
This module guides on finalizing financial models, focusing on troubleshooting balance sheet errors, constructing the executive summary, and formatting for printing.
1. Model Planning & Design
This module introduces financial modeling essentials and the AFM Exam, focusing on the development, planning, and design of effective financial models.
2. The Front End
This module focuses on the different sections in the "Front End" of financial models, showing how to create a cover page, executive summary, apply key formatting concepts, and build scenarios.
3. Revenue
This module teaches how to forecast revenues and build a company’s revenue schedule, covering various methodologies, incorporating capacity constraints, and schedule construction.
4. Costs
This module covers forecasting various types of costs and building a company's cost schedule, focusing on proper forecasting methods, understanding operating leverage, and efficient financial statement creation.
5. Depreciation
This module focuses on building a company's depreciation schedule, covering methodologies for depreciating fixed assets, structuring schedules, utilizing Excel functions for Capex forecasts, and linking outputs to financial statements.
6. Income Tax
This module teaches building a company's income tax schedule, emphasizing its importance, causes of deferred tax, construction of the schedule, and linkage to financial statements.
7. Working Capital
This module focuses on building a company’s working capital schedule, explaining the differences from other assets and liabilities, assumptions, and calculations needed for forecasting.
8. Capital Structure
This module elucidates the purpose, components, and construction of debt and equity schedules in a capital structure, highlighting various types, modeling cash, and key considerations for the revolver.
9. Financial Statements
This module instructs on building the three financial statements: Income Statement, Cash Flow Statement, and Balance Sheet.
10. Outputs and Troubleshooting
This module guides on finalizing financial models, focusing on troubleshooting balance sheet errors, constructing the executive summary, and formatting for printing.

Download the Advanced Financial Modeler Candidate Handbook
Experts get what the AFM can do for you

The FMI is addressing a large unmet need by ensuring that new hires and existing employees have exceptional financial modeling skills. Employers globally are realizing that the FMI is establishing the new standard.
Paul Smith, FCA, CFA, MA
Former President and CEO of the CFA Institute

The FMI are the industry experts at validating skills in financial modeling. Our members regularly enroll in their accreditation exam, to complement their CFA, and their careers are richer for it.
Anne O'Brien
CEO @ CFA Society San Francisco

AFM takes your financial modeling skills to the next level. In my current role I use Excel extensively in the areas of Budgeting, Forecasting, Long-term Planning, Business Case Studies and Treasury. AFM has significantly enhanced my financial modeling skills and boosted my confidence enabling me to be a more effective business partner in critical business decisions.
Abdul Samad Janjua, AFM
Finance Manager @ General Motors

Achievement of an FMI certification is a strong differential among our students. Recruiters can trust that students who have passed the FMI exam have a high competency in financial modeling.
Marie José Beaudin
Executive Director, Soutar Career Centre, Desautels Faculty of Management, @ McGill University

Advanced Financial Modeler
$725 USD
Prerequisite: NoneUpcoming Exam Dates:
May 10, 2025 | July 26, 2025 | October 25, 2025 | February 21, 2026
You will receive access to the following for 12 months:
- 12 hours of AFM learning resources
- Exclusive access to the FMI Community
- Enrollment in the AFM exam

14-Day Money-Back Guarantee
If you change your mind about your AFM registration, please contact info@fminstitute.com before the 14th day following your purchase and we'll quickly and promptly refund your entire payment.
(PS: there’s a 96.5% chance you’ll be satisfied based on previous candidates.)
Get accredited and join AFMs at these organizations



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Join 1,000's of AFMs at these organizations



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Here's what people think of the accreditations
Get the AFM and launch your career
Institutions that Get the Importance of Financial Modeling

The Advanced Financial Modeler (AFM) accreditation is offered to ACCA’s 241,000 members based in 178 countries and regions.

Chartered Business Valuators Institute provides the FMI Foundations program to its students.

Institute of Chartered Accountants in England and Wales, representing more than 202,000 members and students around the world, recognizes the Advanced Financial Modeler accreditation.
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Recognizing the importance of financial modeling, CFA Societies are introducing the Advanced Financial Modeler accreditation to their charterholders.
Get Access to the FMI Community
Learning resources, networking opportunities, exclusive webinars and more. Here are some of our recent webinars featuring industry experts:
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Jordan Goldmeier
Data Science Leader and Microsoft MVP
Topic: Advanced Data Visualizations in Excel for Finance
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Craig Hatmaker
Founder of Beyond Excel (BXL)
Topic: Financial Modeling with Dynamic Arrays
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Paul Smith, CFM
Financial Modeling Specialist, FMI
Topic: Introduction to Cash Flow Modeling
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Chandoo
Founder of Chandoo.org and Microsoft MVP
Topic: 5 Impressive Ways to Visualize Variance (Budget vs. Actual)
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Danielle Stein Fairhurst, MFM
Founder of Financial Modeling World Cup (FMWC)
Topic: How to Promote Your Financial Modeling Skills and Build Your Profile
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Carolina Lago
Managing Director, Tactic Financial
Topic: Mastering Financial Modeling Under Time Pressure
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Brian Eggar
Head of Financial Modeling, Bloomberg
Topic: When DCF Modelling Goes Rogue
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Oz Du Soleil
Founder of Excel on Fire and Microsoft MVP
Topic: When DCF Modelling Goes Rogue
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Marli Basson
Founder of Near Future Ltd.
Topic: Introduction to Scenario Management in Financial Models
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Mark Proctor
Founder of ExcelOffTheGrid.com and Microsoft MVP
Topic: Introduction to Power Pivot with Mark Proctor

Melanie Coeshott
Career Coach & Mentor
How to shape and manage your personal brand?

George Mount
Founder and CEO of Stringfest Analytics
Introduction to Python

Liam Bastick
Director at SumProduct 11x Microsoft MVP
Financial Modelling in Power BI with Liam Bastick

Mark Proctor
Microsoft MVP and Founder of ExcelOffTheGrid.com
Introduction to Power Pivot and Introduction to Power Query

Gašper Kamenšek
Microsoft MVP and Founder of Excel Olympics
Introduction to Power BI

Michael Jarman
Head of Modelling at Operis
Standing Out as a Financial Modeler
Frequently Asked Questions
What does the AFM exam involve?
You will be provided with a case study to explore before getting to work inside Excel, building an integrated 3-statement model of a company from scratch. You will need to complete this model during a 4-hour virtual exam.
To promote practical skills, you’ve got to demonstrate them. Get accredited as an Advanced Financial Modeler and demonstrate to employers, stakeholders and clients that you can build effective financial models that can be relied upon to drive decision making.
What learning resources are include in the AFM?
Learning Resources include:
- A 12-hour step-by-step financial modeling video tutorial series (60 videos)
- Sample models
- Practice exams and solutions
- 1-hour Q&A session with FMI to address questions prior to the AFM exam
Have more questions?
Download the AFM Handbook or reach out to info@fminstitute.com.