Comments for The FAST Modeling Standard http://www.fast-standard.org Promoting standardisation in financial modeling. Good models should be Flexible, Accurate, Structured and Transparent. Mon, 20 Dec 2010 22:52:18 +0000 http://wordpress.org/?v=2.9.1 hourly 1 Comment on 01.00 – Workbook Design by Marty Sammon http://www.fast-standard.org/the-standard/01-00-workbook-design-2/comment-page-1/#comment-2274 Marty Sammon Mon, 20 Dec 2010 22:52:18 +0000 http://www.fast-standard.org/?page_id=340#comment-2274 Great ideas and wish I had read this years earlier. Look forward to the rest of the tuts, and many thanks for sharing this process. Great ideas and wish I had read this years earlier. Look forward to the rest of the tuts, and many thanks for sharing this process.

]]> Comment on Export by Terry http://www.fast-standard.org/the-standard/fast-terminology/export/comment-page-1/#comment-2209 Terry Thu, 09 Dec 2010 01:05:57 +0000 http://www.fast-standard.org/the-standard/blog/export/#comment-2209 Re: 1.01-06 "Mark exportswith red font". I'm wondering why the choice of red when red is so often used for negative numbers (and indeed this is built in to Excel). Presumably red negatives are more likely to appear on presentation sheets and shouldn't be so much of an issue with export data. P.S. I've only just discovered FAST and I think it's a great idea. Thank you for taking the initiative. I hope it catches on. Re: 1.01-06 “Mark exportswith red font”.
I’m wondering why the choice of red when red is so often used for negative numbers (and indeed this is built in to Excel). Presumably red negatives are more likely to appear on presentation sheets and shouldn’t be so much of an issue with export data.
P.S. I’ve only just discovered FAST and I think it’s a great idea. Thank you for taking the initiative. I hope it catches on.

]]> Comment on 01.00 – Workbook Design by Barth Obiefuna http://www.fast-standard.org/the-standard/01-00-workbook-design-2/comment-page-1/#comment-2179 Barth Obiefuna Fri, 03 Dec 2010 19:39:34 +0000 http://www.fast-standard.org/?page_id=340#comment-2179 Very encouraging. Serves a better guide for modellers. Very encouraging. Serves a better guide for modellers.

]]> Comment on Financial Modeling Podcast Episode 1 by Michael Mabon http://www.fast-standard.org/financial-modeling-podcast-episode-1/comment-page-1/#comment-2056 Michael Mabon Fri, 12 Nov 2010 17:55:49 +0000 http://www.fast-standard.org/?p=1253#comment-2056 I would like to see these podcasts available as MP3 or Ogg files from this website because I use a Linux operating system, which iTunes does not support. I would like to see these podcasts available as MP3 or Ogg files from this website because I use a Linux operating system, which iTunes does not support.

]]> Comment on Contact by Ray http://www.fast-standard.org/contact/comment-page-1/#comment-2051 Ray Fri, 12 Nov 2010 00:05:59 +0000 http://www.fast-standard.org/?page_id=997#comment-2051 FAST... what an excellent discovery! I've been modelling spreadsheets since 1981 with VisiCalc. I've set my own standards for font color meanings, organization, constant handling, etc. People at the companies I've been with found my ideas and standards either marvelous or laughable. "Oh... it has colors in it. Ray must have made it." But I've become the Excel Guru wherever I've been. One problem now is that I cannot find the link to download the PDF from this website. I want in on this! Thanks. FAST… what an excellent discovery! I’ve been modelling spreadsheets since 1981 with VisiCalc. I’ve set my own standards for font color meanings, organization, constant handling, etc. People at the companies I’ve been with found my ideas and standards either marvelous or laughable. “Oh… it has colors in it. Ray must have made it.” But I’ve become the Excel Guru wherever I’ve been.
One problem now is that I cannot find the link to download the PDF from this website. I want in on this! Thanks.

]]> Comment on Podcast 5: Spreadsheet errors – with Ray Panko by Dan Vega http://www.fast-standard.org/podcast-5-spreadsheet-errors-with-ray-panko/comment-page-1/#comment-2021 Dan Vega Tue, 02 Nov 2010 09:18:35 +0000 http://www.fast-standard.org/?p=1369#comment-2021 Thanks for hosting Ray Panko for this podcast! I particularly enjoyed the comments on the difference between the reactions to questions of errors by spreadsheet developers versus other types of software developers. I think that the use of error finding software helps spreadsheet developers see and fix some of their errors in private. Maybe this will help them understand that there are errors lurking in their spreadsheets. I'm looking forward to more podcasts, and further study of the FAST Modeling standard. Dan Vega http://www.incisive.com Thanks for hosting Ray Panko for this podcast! I particularly enjoyed the comments on the difference between the reactions to questions of errors by spreadsheet developers versus other types of software developers.

I think that the use of error finding software helps spreadsheet developers see and fix some of their errors in private. Maybe this will help them understand that there are errors lurking in their spreadsheets.

I’m looking forward to more podcasts, and further study of the FAST Modeling standard.

Dan Vega
http://www.incisive.com

]]> Comment on Contact by Jack http://www.fast-standard.org/contact/comment-page-1/#comment-2016 Jack Thu, 28 Oct 2010 09:14:43 +0000 http://www.fast-standard.org/?page_id=997#comment-2016 I have been building financial models for over 20 years. I date back to before Excel. I very much like the idea of standardized modeling. I would be interested in helping to develop a certification. At the last company I worked for I was the only person that could follow the spreadsheet that Goldman sent us. It was correct but had a lot of constants in the formulas with no clue where they came from. Likewise I got to review Ernst & Young's spreadsheet about FASB 133, accounting for derivatives. Unfortunately it had error in the programming, not the concept. I fixed and sent it back. EY actually sent a thank you. I can easily see how some sort of standardization would make this type of review much easier. I have been building financial models for over 20 years. I date back to before Excel. I very much like the idea of standardized modeling. I would be interested in helping to develop a certification.

At the last company I worked for I was the only person that could follow the spreadsheet that Goldman sent us. It was correct but had a lot of constants in the formulas with no clue where they came from.

Likewise I got to review Ernst & Young’s spreadsheet about FASB 133, accounting for derivatives. Unfortunately it had error in the programming, not the concept. I fixed and sent it back. EY actually sent a thank you.

I can easily see how some sort of standardization would make this type of review much easier.

]]> Comment on 01.02 – Sheet Organisation by Jack http://www.fast-standard.org/the-standard/01-00-workbook-design-2/01-02-sheet-organisation/comment-page-1/#comment-2015 Jack Tue, 26 Oct 2010 22:23:11 +0000 http://www.fast-standard.org/?page_id=348#comment-2015 In a practical sense, it is often desirable to keep some calculations separated if the review of these is limited to a small subgroup. A good example is the calculation for deferred income taxes. This complicated subject is usually of little interest except to extent it changes the cash flow. I keep these calculation separate and ask the VP Tax for buy off on the formulas, then agreement with the calculations (if I have time) before presenting the results to executives. In a practical sense, it is often desirable to keep some calculations separated if the review of these is limited to a small subgroup. A good example is the calculation for deferred income taxes. This complicated subject is usually of little interest except to extent it changes the cash flow. I keep these calculation separate and ask the VP Tax for buy off on the formulas, then agreement with the calculations (if I have time) before presenting the results to executives.

]]> Comment on Contact by Luke Deer http://www.fast-standard.org/contact/comment-page-1/#comment-1966 Luke Deer Mon, 11 Oct 2010 22:59:56 +0000 http://www.fast-standard.org/?page_id=997#comment-1966 Why don't you make the FAST format MACROS publicly available on the website? I understand you have to cover costs, but if the objective is to promote the FAST standard then surely you want the widest diffusion of the basic materials as possible. For more advanced training then sure - for those who can afford it - people can register for the training sessions. I am not currently in that position and would like the a copy of the MACROS without having to build them for scratch based on guess work from the videos and the standard document. Why don’t you make the FAST format MACROS publicly available on the website? I understand you have to cover costs, but if the objective is to promote the FAST standard then surely you want the widest diffusion of the basic materials as possible. For more advanced training then sure – for those who can afford it – people can register for the training sessions. I am not currently in that position and would like the a copy of the MACROS without having to build them for scratch based on guess work from the videos and the standard document.

]]> Comment on 04.00 – Excel Features Used In Modeling by Kenny Whitelaw-Jones http://www.fast-standard.org/the-standard/04-00-microsoft-excel-specifics/comment-page-1/#comment-1963 Kenny Whitelaw-Jones Fri, 08 Oct 2010 15:54:35 +0000 http://www.fast-standard.org/?page_id=163#comment-1963 Thanks Travis - we'll take a look at this and amend in the next version. Thanks Travis – we’ll take a look at this and amend in the next version.

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