cf-three-statementlisted

# Three-statement model Forecasts a company from operating drivers and produces three statements that agree with each other. It answers how much cash the business throws off, when it needs to borrow, and what its balance sheet looks like along the way. It is also the base a DCF, an LBO or a credit analysis sits on. Two things make this harder than a single cash-flow model, and they're the whole point: **the balance sheet has to balance every period**, and **interest depends on debt balances that depend on the cash flow that interest affects**. ## Before you build - Gather: the last historical year's revenue and balance sheet (cash, receivables, inventory, PP&E, goodwill, payables, accruals, debt, share capital), and the forecast horizon. - Gather drivers, per year: revenue growth, COGS and SG&A as % of revenue, D&A, capex, DSO / DIO / DPO days, accruals, tax rate, dividend payout. - Gather debt terms: opening balances, rates, amortization, a revolver commitment, and the minimum cash balance. - Follow `fm-model-conventions` and `fm-time-series`. Balances use `fm-corkscrew-balances`. ## Structure `Inputs` (scalars) → `Timing` (year index, flags) → `Drivers` (per-year assumptions, blue) → `IS` → `WC` (working capital and PP&E) → `Debt` → `BS` → `CFS` → `Checks`. Year 0 is the last historical year; the forecast runs 1…N. Keep drivers on their own sheet as input rows across the years, flat by default, so any single year can be overridden without breaking the row. If histor