What is the first step in building a financial model?

Why is it important to ensure consistency in financial statements over the years?

What type of financial statements are used in financial modeling?

Why is it recommended to use the latest year's financial statement for formatting?

How can facts and assumptions be distinguished in a financial model?

Why is it necessary to calculate subtotals and totals in a financial model?

What is the purpose of breaking down heavy line items in the P&L?