Anti-macro campaign seeks supporters

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A modelling consultancy is making waves in the world of Excel by promoting a standard to simplify financial spreadsheet models.

The FAST Standard promoted by London-based F1F9 advocates a “clear, crisp modelling style” based around the principles of flexibility, accuracy, structure and transparency.

The standard itself, which now boasts seven signatories including accountants Mazars, is a collaborative document hosted on the FAST Modeling Alliance website. The standard discusses the different nature of spreadsheet users, which divide between designers and modellers. Using an automotive analogy, these groups are described as either drivers (users of financial models) or mechanics.

“Rigorous consistency in model layout and organiSation is essential to retain a model’s logical integrity over time, particularly as a model's author may change. A consistent approach to structuring workbooks, worksheets and formulas saves time when building, learning, or maintaining the model,” the standard argues.

“Transparent models must rely on simple, clear formulas that can be understood by other modelers and non-modellers alike.”

In summary, the document promotes the following basic design principles:

  • Separate worksheets by type: so that  workings, presentation, foundation and control elements of the workbook are stored on different sheets.
  • Maintain consistent column structure across sheets
  • Maintain consistent time  lines throughout the model
  • Use links to improve navigation
  • Mark exports with red font and imports with blue font
  • A given calculation should appear only once in a model
  • Use normally positive convention on Workings sheets
  • Do not overuse macros.

The final point proved somewhat controversial when F191’s Morten Siersted presented his ideas at the Excel Developer Conference in London on 25 January. To support the FAST Standard initiative, the consultancy has been recording podcasts and publishing them both on its blog and as free downloads from Apple’s iTunes site. Episode 6, for example, features an interview with Professor Ray Panko, the doyen of Excel error research.

About John Stokdyk

John Stokdyk is the global editor of AccountingWEB UK and


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10th Feb 2012 15:32

Is it 1st April already?

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11th Feb 2012 09:01

Keystroke recorders ...

Of course reduced use of macros is the right approach and anyone who thinks otherwise is on dangerous ground

Whilst very simple to use any keystroke recorders are inherently dangerous because:

A large number of those using this facility do not understand the resulting codeVery difficult to track and auditDifficult to changeNo defined standardsPotential complexity if people get carried awayetc......

One should always create spreadsheets (or any other code) by keeping in mind that in the future someone else may need to sort out a problem or change the way it works. Introducing complexity or 'being clever' has the potential to introduce errors in the same proportion - therefore rendering the spreadsheet suspect and presumably affecting ones PI

On another part of Aweb there is a debate about the merits of training clients on the subject of basic book-keeping in the context of Cluod based systems. Why is it that in areas where huge 'foul ups' can occur (spreadsheets) few are prepared to take training and because it it so simple to use, jump straight, sometimes in with dire consequences and certainly with a massive hit on chargeable time

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