<![CDATA[Corporate financial modeling practices have evolved technically, yet they remain largely ad hoc, architecturally undocumented, and insufficiently aligned with governance and model risk principles. Spreadsheet-based models are frequently constructed in a fragmented manner, exposing organizations to assumption inconsistencies and model risk vulnerabilities. This study develops an integrated Financial Modeling Framework (FMF) using a design-based research approach to bridge the gap between financial modeling practice, financial statement analysis, and risk governance principles. The research produces a layered architectural artifact consisting of an assumptions layer, integrated financial statements layer, performance output layer, and validation mechanism. The novelty of this study lies in conceptualizing financial modeling as a governance-aware decision infrastructure that explicitly integrates financial statement structures, ratio transmission logic, and validation controls within a modular and transparent design. Theoretically, the study extends design science applications into the financial domain by emphasizing architectural structuring as a determinant of model quality. Practically, the FMF enhances transparency, consistency, and accountability in spreadsheet-based corporate financial model development.]]>
Copyrights © 2025
