Ans.5) The scope of financial modeling applications is very vast since models are needed for a wide variety of decision-making ideasu2013 ranging from those related to mergers, acquisitions, capital raising, internal planning, budgeting, forecasting, investments, and valuation.u003cbr /u003eFinancial modelers are employed by Banks, Equity Research firms, Credit Rating companies u0026amp; Project Finance. The scope of Financial modeling is ever increasing all over the world day by day. The financial modeling aspect is not the same as financial accounting u0026amp; audit jobs. Sometimes, it is not required for a candidate to have any formal degree to prepare a financial model, rather it is important to grasp u0026amp; understand the business well something like the revenue drivers or cost drivers.