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Course Policy Regarding Collaboration and Exchange of Electronic Files for Modeling Assignments

This course requires each student to construct an LBO model.  The model will be built progressively over five assignments ((i) quality of earnings, (ii) the revenue model, (iii) the operating model, (iv) the LBO, and (v) returns, valuation and value creation attribution), with each submission being graded, returned, and forming the base for the next submission.  

I teach financial modeling for two reasons: (i) it is the core skill utilized by entry-level professionals in private equity, investment banking, business development, and strategic planning, and (ii) building a model is a great way to learn financial accounting and financial statement analysis and deciphering complex transactions.

This class includes students with skills ranging from never having seen a model to having previously built full models.  The course material and policies must provide the necessary pedagogical support while avoiding spoon feeding.  To aid students, we provide “sample models” for each of assignments (ii), (iii) and (iv) above I allow students to collaborate on assignments (ii), (iii), (iv), and (v).

The sample models illustrate a SaaS business not unlike our target business and are structured similarly to the assigned models.   The sample models also are used throughout the modeling instructional decks to illustrate key points.

However, downloading and utilizing these models as templates would significantly erode the pedagogical value of the modeling assignments.

Similarly, while it can be beneficial for students to work together on the modeling assignments, it is critical that each student submit their own work, i.e., a model that they have built.  The submission of models that are wholly or partially copied from another student or from a prior or current semester’s solution, would severely compromise both pedagogy and the integrity of the course.

Therefore, I have developed the following policy, which applies to this course.

1) Use of sample models:

Students may download copies of the sample models posted on Brightspace.  Students may use these sample models as references while building their own models.  Students may not build their models using the sample model as a template (i.e.  downloading, building-out, editing or otherwise adapting the sample model to complete the assignment).  Students may not copy/paste any section (formulas or otherwise) of the sample model for use in their submissions.

Example of acceptable use of sample models:

“I don’t understand what I am supposed to do in this section.  I will look at how it was done in the sample model and, in conjunction with the instructional deck, will build my own formulas accordingly.

Example of unacceptable use of sample model: “I don’t know what I am supposed to do in this section.  I will copy/paste the formulas in the sample model and edit them accordingly”.

Penalty:

1^st offence: -1 point on submission

Subsequent offences: 0 score on submission

2) Collaboration on modeling assignments:

Students may collaborate on all the modeling assignments except (i) the quality of earnings analysis.  This means that students may work together in pairs or groups, consult each other, compare progress and the final product.  However, each student must build 100% of their submission.  Students are not allowed to exchange electronic files pertaining to any section of any of the modeling assignments.  This policy applies to exchange of files before or after submission deadlines and to the use of past solutions.

Any student in currently possession of past solutions or another student’s submission is already in breach of course policy and should drop the course.

Penalty:

1^st offence: 0 on assignment for both the giver and the receiver of the exchanged files.

2^nd offence: course failure and disciplinary referral for both the giver and the receiver of the exchanged files.

Please feel free to contact me if any of this is unclear.