May 19th, 2015
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New England College of Business and Finance
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What doesFinancial Information System (FIS)mean?A financial information system (FIS) accumulates and analyzes financial data used for optimal financial planning and forecasting decisions and outcomes. FIS is used in conjunction with a decision support system, and it helps a firm attain its financial objectives because they use a minimal amount of resources relative to a predetermined margin of safety.Introduction to Financial ModelingWhat is a financial model? What is the difference between a financial model and the spreadsheet solutions you create or VBA programs you write all the time to answer financial questions or solve financial problems?Def. A Financial model is a financial information system which is designed to represent in mathematical terms the relationships among the variables of a financial problem so that it can be used to answer what if questions or make projections. Some of the spreadsheet solutions that people create capture some of these relationships as well and, therefore, can answer what if questions to some extent. But because they are not primarily designed with these objectives in mind, they do not try to capture as many of these interdependencies as possible, and their structures often make it cumbersome to answer what if questions or make projections with them.So let us look at a simple, concrete example. Suppose you are using a spreadsheet to calculate, based on your taxable in

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