Advanced Financial Modeler (AFM)
Develop expertise in building reliable 3-statement financial models and demonstrate your acumen in finance, accounting, and Excel.
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About the Advanced Financial Modeler Credential
The AFM program is the only globally recognized accreditation that validates mastery in financial modeling. Gain the technical skills to create a financial model from scratch, to support critical business decisions, and to communicate a company’s story with clarity and impact. The AFM bridges the gap between theoretical finance knowledge and practical, best-in-class modeling execution.
Topics covered:
- Module 1 - Getting Started
- Module 2 - The Front End
- Module 3 - Revenues
- Module 4 - Costs
- Module 5 - Depreciation
- Module 6 - Income Tax
- Module 7 - Working Capital
- Module 8 - Capital Structure
- Module 9 - Financial Statements
- Module 10 - Outputs & Troubleshooting
Learn about the steps needed to achieve the Advanced Financial Modeler accreditation
Explore Our Courses
Enrolling in the AFM program gives you access to the FMI Community, a global hub of thousands of financial modelers. As a member, you’ll benefit from learning resources, study groups, events and webinars, and networking opportunities - all designed to support your growth and success.
Requirements ...
No Formal Education Pre-requisites: the FMI does not require a specific degree or prior qualifications to sit for the AFM exam.
Experience Recommended: while not mandated, candidates typically benefit from:
- A strong foundation in accounting principles (e.g., IFRS/GAAP).
- Understanding of corporate finance concepts.
- Proficiency in Microsoft Excel.
Focus on Skill: The exam is purely skill-based, so preparation is key, regardless of background.
Exam Essentials
The AFM exam is a challenging, proctored assessment lasting four hours and conducted entirely online. Candidates are presented with a case study and must construct a complete three-statement financial model for a company from the ground up.
You can take the exam conveniently from your home or office computer.
It is scheduled four times a year, with the upcoming sittings set for:
October 25, 2025 | February 21, 2026 | May 9, 2026 | July 11, 2026.
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4 hours -
A case study to build an integrated 3-statement model of a company from scratch in Excel.