What is a Master Budget? The master budget plays a central role in financial planning and analysis (FP&A). It brings structure to the budgeting process by combining operating, capital expenditure (CapEx), and cash budgets into one coordinated plan. A company’s budget committee develops and approves a master budget for the organization. This committee typically includes…
What is NTM EBITDA? NTM EBITDA (Next Twelve Months Earnings Before Interest, Taxes, Depreciation, and Amortization) estimates a company’s operating performance over the next 12 months. Financial analysts use NTM EBITDA in several forward-looking multiples when evaluating comparable peers, potential M&A targets, and leveraged buyouts (LBO) deals. This metric is especially useful when assessing a…
What separates companies that have thrived for decades, like Apple, Amazon, and Google, from those that have disappeared? It all comes down to economic moats: the lasting advantages that protect profits and market share. In this episode of FinPod, we explore: What economic moats are and why they matter The five types of moats: brand…
Getting Started with Business Valuation A strong foundation in valuation is essential for finance professionals in investment banking, equity research, and private equity. This curated list of resources covers key concepts, techniques, and real-world applications to help you build confidence and take the next step in your learning journey. Build Your Valuation Foundations Every strong…
Is a P&L the Same as an Income Statement? P&L statement or income statement? This is a common question from individuals new to finance. In most cases, “P&L” and “income statement” mean the same thing: a report showing a company’s revenues, expenses, and profit or loss over a specific period. Using the terms interchangeably is…
At some point, nearly every finance professional faces the same question: Will getting a certification actually move the needle in my career? You’re not alone if you’ve wondered whether it’s worth the time, money, or effort. Maybe you’ve hit a ceiling in your current role. Maybe you’re applying for jobs, but your résumé isn’t standing…
In this episode of FinPod, we unpack one of the most critical topics in finance today: risk management. From inflation and interest rate hikes to global supply chain volatility, companies are navigating more uncertainty than ever—and effective risk strategies have become essential for survival and growth. If you’re in FP&A, corporate strategy, or financial leadership,…
In this episode of Careers in Finance, we sit down with Paul Barnhurst—also known as The FP&A Guy—to explore what it means to build a career in Financial Planning & Analysis. From his early days in procurement to leading FP&A functions across multiple companies, Paul shares how the role has evolved into one of the…
Financial Analysis in FP&A: Top 14 Resources to Build Your Skills What separates good FP&A analysts from great ones? Beyond technical knowledge, it’s a toolkit of analytical skills, modeling expertise, and innovative approaches that drive strategic decision making. Today’s FP&A professionals must deliver deeper insights faster than ever before. Whether you’re beginning your journey or…
What is the Difference Between Liquidity and Solvency? Liquidity vs. solvency comes up often in financial analysis, and for good reason — they highlight two very different questions. Can the company pay its bills this month? And can it stay in business over the long haul? Liquidity is about having enough cash or near-cash assets…
