Guides

How a 13-week direct cash flow forecast is built: receipts and disbursements by week, the opening receivables and payables curves, the revolver draw that holds minimum cash inside the facility limit, the working capital bridge, and the Monday variance check. With an Excel workbook whose revolver logic was recomputed in Python before listing.

Three widely shared papers on LLM agents in finance (TradingAgents, HARLF, Automate Strategy Finding) read from their abstracts and code, with the claims kept to what the authors state. No trading advice. Closes on the one pattern that transfers to a small company: agents that argue before a decision.

Two dates move the CBAM from a data exercise to a bill. On 1 January 2027 the chargeable share of embedded emissions doubles to 5 percent and the certificate price switches to a weekly ETS average. On 1 February 2027 the Commission's central platform starts selling certificates, priced for 2026 imports on the quarterly ETS average of the quarter of import.

How the EU CBAM certificate bill is computed for steel, aluminium, cement, fertilisers, hydrogen and electricity as free allocation phases out, 2026 to 2034.

The dates that govern the EU CBAM definitive period after Regulation (EU) 2025/2083: the 50 tonne threshold, 31 March 2026 applications, certificate sales from 1 February 2027, the first declaration on 30 September 2027, and the free allocation phase-out to 2034.

The transitional-period quarterly CBAM report ended with the Q4 2025 report. From 2026 the obligation is one annual CBAM declaration, first due 30 September 2027. What it contains under Regulation (EU) 2023/956 as amended by Regulation (EU) 2025/2083, and the Excel workbook that estimates the certificate bill.

Comment se calcule la facture de certificats MACF pour l'acier, l'aluminium, le ciment, les engrais, l'hydrogène et l'électricité pendant la suppression progressive de l'allocation gratuite, 2026 à 2034.

After Directive (EU) 2026/470 (Omnibus I) the CSRD applies from FY2027 to companies over 1 000 employees and EUR 450m net turnover. Which companies report for FY2025 and FY2026, which drop out, and when each group's first report is due, with the article for each.

What a CSRD double materiality assessment must cover under ESRS 1 (impact and financial materiality, IRO register, thresholds, topic conclusion) and an Excel workbook with live formulas that runs it.

How the snowball (smallest balance first) and avalanche (highest rate first) payoff orders work, what the CFPB says each trades away, a worked four-debt case where both clear in 34 months and differ by 40 in interest, a free browser calculator and a verified Excel workbook with both schedules over 240 months.

What a climate transition plan has to disclose under ESRS E1-1 (Delegated Regulation (EU) 2023/2772): the ten items in paragraph 16 including decarbonisation levers, locked-in emissions and Taxonomy-aligned CapEx, plus the E1-4 target rules on base years, 2030 and 2050 values and the 1.5C test.

Regulation (EU) 2026/1744, in force 27 July 2026, moved the high-risk obligations to 2 December 2027 for Annex III systems and 2 August 2028 for Annex I products. Article 50 transparency, the governance chapter, penalties and AI literacy applied on 2 August 2026 as planned. The dates, each with its article.

When the EU AI Act applies, how each system is classified, what providers and deployers must do by 2 August 2026, and the fine ceilings in Article 99.

What the three Article 8 KPIs are, how Delegated Regulation (EU) 2026/73 (the July 2025 simplification, applying from 1 January 2026) changed the template and added the 10% non-material rule, and an Excel workbook that screens activities and fills the KPIs, mapped column by column onto the new Template 1.

Where the 4% rule comes from (Bengen 1994 and the 1998 Trinity study), what each paper tested and found, the assumptions that carry over to any FIRE calculator, a worked case reaching a 25-times-spending target at 54, a free browser calculator and a verified Excel planner in today's money.

Scope 3 is the value chain: 15 categories under the GHG Protocol Corporate Value Chain Standard. What ESRS E1-6 requires (screen all 15, report the significant ones, refresh the full inventory every three years), and a $29 Excel workbook with a 60-row Scope 3 sheet, a DESNZ 2025 factor register and totals by scope.

What a green bond annual report must contain under the ICMA Green Bond Principles (June 2025) and the Harmonised Framework for Impact Reporting (June 2024): the four core components, allocation reporting, ex-ante impact estimates, pro-rata attribution, and the core indicators per project category, with an Excel workbook that lays them out.

What the fields on a TED notice mean and where they come from in Directive 2014/24/EU: the notice type, the CPV code that classifies the work, the 35-day minimum for open procedures, the thresholds from 1 January 2026 (EUR 140,000 and 216,000 for services), and the award criteria a buyer must state. For consultancies bidding for sustainability and ESG work.

What an IFRS S2 (and UK SRS S2) metrics and targets disclosure has to contain, paragraph by paragraph: the seven cross-industry metric categories in paragraph 29, the target fields in paragraphs 33 to 36, and an Excel workbook that lays them out with the arithmetic done.

What a fixed monthly overpayment and a one-off lump sum each do to a mortgage's term and total interest, a worked case where the lump sum works harder per pound but the monthly overpayment saves more in total, the allowance and penalty checks, a free browser calculator and a verified Excel comparison.

Directive (EU) 2022/2555 applies to entities in the 18 sectors of Annex I and II that are medium-sized or larger under Recommendation 2003/361/EC, with size-independent exceptions. How the sector test and the size test work, what makes an entity essential rather than important, and what each carries.

Plain-English meaning of the five Greeks, the 1973 papers by Black and Scholes and by Merton that the pricing model comes from, the assumptions the model makes and why a real position differs, a sample call and put priced with all five Greeks and a two-leg spread's payoff, with a verified Excel workbook.

How financed emissions are computed under the PCAF Financed Emissions Standard (third edition, December 2025): attribution factor by asset class, EVIC, data quality scores 1 to 5, and an Excel workbook with live formulas.

How to decompose a revenue variance into price, volume and mix effects, the formulas in the order they are applied, why the three must reconcile to the total variance, and an Excel workbook that does it per product line alongside a driver-based budget and a rolling forecast.

Non-qualifying Revenue must not exceed the lower of 5% of total Revenue and AED 5,000,000. Below AED 100,000,000 of Revenue the AED 5m arm never binds, revenue from a Permanent Establishment or immovable property comes out of both sides of the ratio, and a Qualifying Free Zone Person that fails the test loses the 0% rate from the start of that Tax Period and for the four Tax Periods after it.

What cap rate, cash-on-cash return, DSCR and IRR each measure on a rental purchase, why they disagree on the same property, the sample case where the cap rate looks fine and the lender's ratio fails, a free browser calculator and a verified Excel analyzer.

ESRS E1-6 requires gross Scope 2 emissions twice, location-based and market-based, and totals disaggregated by each (Delegated Regulation (EU) 2023/2772, E1-6 paragraphs 49 and 52; kept in the revised ESRS of Delegated Regulation (EU) 2026/1563). What each method measures, when the two differ, and what a contract has to prove before it moves the market-based figure.

What the SFDR principal adverse impact statement must contain under Delegated Regulation (EU) 2022/1288 Annex I Table 1, how each of the 14 investee-company indicators is computed, and an Excel workbook with live formulas.

What an R multiple is (Van Tharp's definition), why expectancy in R is the one statistic that makes trades of different sizes comparable, how profit factor and maximum drawdown differ from it, what Kelly 1956 actually derived and why a journal should display it and not bet it, with a verified Excel journal and position sizing workbook.

The UAE Corporate Tax computation in the order Article 20(2) sets: Small Business Relief at AED 3,000,000, QFZP de minimis, interest and loss rules, 0% and 9%.

What a UAE Corporate Tax computation template has to carry row by row under Federal Decree-Law No. 47 of 2022: the inputs, the relief tests, the adjustments from Accounting Income to Taxable Income, the rates, carry-forwards and the filing date. With an Excel workbook whose formulas were checked against six worked cases.

A practice does not have a Corporate Tax deadline, it has one per client. The filing date comes from each client's own Financial Year under Article 57, the registration, return, deregistration and record dates run on separate clocks, a Tax Group files once for many entities, and a closed client still owes a final return before it can deregister.

Net Interest Expenditure is deductible only up to 30% of EBITDA under Article 30 of Federal Decree-Law No. 47 of 2022. The AED 12,000,000 figure in Ministerial Decision No. 126 of 2023 switches the rule off entirely below the line and off the table above it, the EBITDA in the rule is not the EBITDA in the accounts, and the ten-period carry-forward can expire without ever being used.

A late UAE Corporate Tax return costs AED 500 a month for twelve months then AED 1,000; late payment costs 14 percent a year on the unsettled tax. Which one hurts depends on the size of the liability: below about AED 43,000 of tax the fixed penalty dominates, above it the interest does. The figures from Cabinet Decision No. 75 of 2023, recomputed.

The UAE Corporate Tax return and payment are due nine months after the end of the Tax Period, so a 31 December 2025 year end falls due 30 September 2026. The deadline by financial year end, and the penalty amounts from Cabinet Decision No. 75 of 2023.

Who the UAE Electronic Invoicing System covers, the phase deadlines from MD 244 as amended by MD 66 of 2026, the PINT AE mandatory fields and the fines.

Small Business Relief lets an eligible UAE Resident Person elect to be treated as having no Taxable Income. Three things decide whether to take it: the AED 3,000,000 Revenue test is cumulative and permanent once breached, electing in a loss year destroys the Tax Loss instead of carrying it forward, and Ministerial Decision No. 131 of 2026 extended the relief to Tax Periods ending on or before 31 December 2029.

Appointing a Tax Agent is expressly without prejudice to the client's own responsibility under Article 14 of Federal Decree-Law No. 28 of 2022, and every Taxable Person remains responsible for the accuracy of its own return. Across the whole violations list in Article 24, the Tax Agent's own funds are named once, and it is not late filing.

A model will write you a compliance spreadsheet in a minute. What it will not do is hand you a figure with the document it came from. What traceability means in practice, on three Bindler workbooks, and the standing offer to correct any figure that does not match its cited source.