What are some common financial modeling errors to avoid?
An example of an AI chatbot conversation about common financial modeling errors.
What are some common financial modeling errors to avoid?
Some common errors include incorrect assumptions, lack of documentation, and not testing scenarios.
Can you explain why incorrect assumptions are a problem?
Incorrect assumptions can lead to flawed projections, which may result in poor decision-making.
What about lack of documentation?
Lack of documentation makes it hard to understand the model's logic and can lead to errors going unnoticed.
How can I test my financial model for errors?
You can test your model by running sensitivity analyses and comparing outputs against historical data.
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