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Free cpe webinars
How to Build a Financial Model for an Accounting Firm


Cost Free
Presentation Length 1.0 hour

Recorded DateJanuary 16, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Course LevelBasic
Course Description

“Planning and budgeting.” Quick, when you hear that phrase, what springs to mind? Perhaps you envision firing up trustly old Microsoft Excel? Then you open up last year’s budget workbook, change the column headers to next year, increase revenue and expenses by some historical growth percentage and — poof! — you’re done. 

The thing is, this sort of basic forecasting is a poor substitute for proper planning, and you can really only make a good plan (and budget) with a driver-based financial model. “Drivers” are the specific actions you intend to take as a business owner that will increase revenue and/or expenses, such as selling new services and hiring more employees, not arbitrary month-over-month percentage changes.

In this session, we’ll build out a driver-based financial model for an accounting firm that plans to significantly grow their practice with new service offerings and subscription billing options, more than doubling headcount every year for four years. Is that sort of growth possible? The numbers have the answer! Whether you’re new to financial modeling, or you’re doing it now in Excel, this session will equip you with best practices to do better planning for your own firm and your clients.

Learning Objectives:

  • Understand the benefits of driver-based financial modeling versus forecasting using historical trends

  • Identify and key drivers of revenue, expenses, and cash flows for a professional services firm

  • Learn how to program a driver-based financial model that includes Revenue Build, Staffing, OpEx, and COGS tables.

  • Generate a forecast report and dashboard that drives thoughtful discussion and planning with your firm partners and stakeholders so you can create a meaningful budget

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Martin Zych

CEO and Co-Founder
(425) 478-1150


Martin Zych is the CEO and co-founder of Jirav. He’s a career finance & accounting professional, specializing in high-growth tech companies. Previously he was the Finance Director at Limeade and Zephyr Health and a Controller at Atlas Accelerator CFO firm. Over his career, he set up dozens of finance functions and has helped raise over $200 million in funding.  He founded Jirav to build the tool he wished he’d had available for him during his whole career as a Controller / Finance Director at high growth companies.

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Blake Oliver, CPA, is an entrepreneur, accountant, writer, and speaker specializing in cloud accounting technology. In 2016 and 2017, Blake was named a “40 Under 40” in CPA Practice Advisor’s accounting profession. He is the co-host of the Cloud Accounting Podcast, a weekly news round-up at the intersection of accounting and technology that is also the #1 podcast for accountants and bookkeepers in the world.

About Our Presenter

Jirav delivers smarter financials and faster insights, helping you understand where your business has been and predict where you’re going. The system joins your cloud-based Accounting, HR, CRM and billing data to automatically surface a sophisticated, interconnected model that is unique to your business. Spreadsheet errors are eradicated, monthly reports occur in real-time, and connected data enables teams to collaborate on multiple scenarios – bookings, billing, revenue recognition, cash flow, and workforce/expense planning  – to get the answers they need, fast.