The FAST standard is the most extensively accepted and independently superintended standard used in financial modeling. The standard is a collection of directives meant for the construction of spreadsheets in Excel for the purpose of financial modeling. FAST is an abbreviation that implies the following meaning : Flexible – The model must be designed such that even after revamping the business drivers and presumptions in it, the robustness of the model stays similar. Appropriate – It should be taken into account that the authenticity and convolutions of the model are considered at all times. You might be explicit but it is not always correct. Structured – Make sure that the financial model is well assembled across the spreadsheet. Transparent – The model must be comprehensible and lucid for anyone to go through. Avoid including complicated mechanisms in the model and break your computations into understandable parts. This standard makes a model rational,  structured, valid, and clear.