Stage 2 (2023) “Fun with Flags”


This is an actual case study that was presented to the participants of the Financial Modeling World Cup 2023, Stage 2 (March 10-13).

Case study description:
In financial modeling, a “flag” or “mask” is a technique that is used to track specific events or conditions, particularly in terms of timing. It involves a binary indicator that takes a value of either 1 or 0 (or TRUE or FALSE) to show whether a particular event or condition has happened or not. This indicator can be used in subsequent calculations to enable or disable certain features.
The case presented aims to test the participant’s comprehension of flags using an example project that has a financial close date, a construction period, and an operating period.

The downloadable file consists of the following:
Task: PDF file with Case Materials; PDF file with Questions
Solution: Excel file with full Solution Model; PDF file with correct Answers in Bold