this FINANCIAL Modeling USING an acronym – FAST.
F stands for Flexibility: Every financial model should be flexible in its scope and adaptable in every situation (as contingency is a natural part of any business or industry). Flexibility of a financial model depends on how easy it is to modify the model whenever and wherever it would be necessary.
A stands for Appropriate: Financial models should not be cluttered with excessive details. While producing a financial model, the financial modeller always should understand what financial model is, i.e. a good representation of reality.
S stands for Structure: The logical integrity of a financial model is of utter importance. As the author of the model may change, the structure should be rigorous and integrity should be kept at the forefront.
T stands for Transparent: Financial models should be such and based on such FORMULAS which can be easily understood by other financial modellers and non-modellers.
Also, note the color standards popularly used in Financial Models:

• Blue – Use this color for any constant that is used in the model.
• Black – Use Black color for any formulas used in the Financial Model
• GREEN – Green color is used for any CROSS references from different sheets.

this Financial Modeling using an acronym – FAST.
F stands for Flexibility: Every financial model should be flexible in its scope and adaptable in every situation (as contingency is a natural part of any business or industry). Flexibility of a financial model depends on how easy it is to modify the model whenever and wherever it would be necessary.
A stands for Appropriate: Financial models should not be cluttered with excessive details. While producing a financial model, the financial modeller always should understand what financial model is, i.e. a good representation of reality.
S stands for Structure: The logical integrity of a financial model is of utter importance. As the author of the model may change, the structure should be rigorous and integrity should be kept at the forefront.
T stands for Transparent: Financial models should be such and based on such formulas which can be easily understood by other financial modellers and non-modellers.
Also, note the color standards popularly used in Financial Models: