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If you're new to the modelling process, gain inside knowledge of the key factors critical to expert financial modellers. Each short segment provides an overview of the key principles and best practice for Financial Modelling in Excel on a daily basis.
Documentation of assumptions is a critical point of best practice. Garbage in and garbage out!
Every input should have a single source cell in our model, so that any changes that are made flow right throughout the model.
It’s pretty easy to pick up Bad Habits. We'll look at a few bad modelling habits that are pretty common among Excel users!
Consistent formulas within a block of data will make building your model quicker and easier, not to mention more accurate
Having your model’s Formatting and Labelling clearly and correctly laid out makes your model easier to find your way around – both for you and someone else trying to interpret your model!
In each lecture, I’ll take you through one of the key principles, give practical examples of how to apply best practice to your financial models. You’ll learn lots of tips and tricks on using Excel for the purpose of financial modelling.
As an added bonus, you’ll get an extra webinar recording on “Scenario Tools in Excel” which will teach you how to create scenarios in plain Excel without any add-ins or other software. Reduce uncertainty in decision making using built-in standard Excel tools to reduce volatility in outcomes by performing sensitivity and scenario analysis to mitigate risk.
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|Section 1: Documenting Assumptions|
Welcome to "Introduction to Financial Modelling Best Practice"
This is your first instalment of this series. In each section, we’ll spend a few minutes together covering some important principles and best practices in Financial Modelling.
Today we’ll be talking about one of the most important points in Financial Modelling – Documenting Assumptions. Enjoy!
|Section 2: Linking Cells to Source Data|
It's important to understand the difference between linking formulas vs "hard-coded" Values. Every input should have a single source cell in our model, so that any changes that are made flow right throughout the model.
|Section 3: Only Enter Data Once|
Only Enter Data Once
|Section 4: Bad Habits|
|Section 5: Consistent Formulas|
|Section 6: Formatting & Labelling|
Formatting & Labelling
|Section 7: Summary|
|Section 8: Bonus Content - Scenario Tools in Excel|
This lecture how to create scenarios using plain Excel without any add-ins or other software. We cover a practical demonstration of the tools of drop-down boxes for manual scenario selection, data tables and scenario manager. The files used in the video have been provided for your further learning.
In this video we add probability to data tables, and use goal seek for what-if analysis.
Hi, I'm Danielle Stein Fairhurst and I’ve been a financial modelling for my whole career. I live and breathe Excel – in fact, I even wrote a book about it! The second edition of "Using Excel for Business Analysis: a Guide to Financial Modelling Fundamentals" was published in April 2015.
Although I’m based in Sydney, I run regular training seminars around Australia and internationally (mostly Asia and the Middle East) for conference organisers or company in-house training. I founded the LinkedIn Financial Modelling in Excel Group which now has around 40,000 members, as well as its global networking Modellers’ Meetup groups.
Wherever you are in the world, I want to help you to learn the fundamentals of financial modelling. I hope to see you either face to face or on my online training soon!
Danielle Stein Fairhurst
MBA, BaIBR, CDAF ACCA