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Financial Modelling with Excel This is a three day-course. However, Mullan Training will be able to deliver a closed, customised course to refine the course content and duration. 1. Spreadsheet: design and structure - Mastering key steps with practical exercises to practically design and structure your spreadsheet layout in order to achieve a well-constructed and error-free financial model - Use tried and tested spreadsheet techniques for tracking company cash flow and monitoring profitability. - Master the key steps in successfully building a comprehensive and accurate finance model as a decision-making tool by understanding: What is financial modelling and its objectives? The power of spreadsheets: Forecast future cash flows Ability to service debt repayments Coordinate various revenue and expenditure budgets How to avoid the pitfalls of a poorly designed spreadsheet: Key variables and rules End result of the model Formatting of the spreadsheet The layout in designing an error-free financial model Data validation   2. How to apply the practical features of excel databases in your financial model Practical Exercises - Test the validity of the data in your financial model by identifying its accuracy, reliability and relevance to your worksheets.   - Learn the types of data that need to be analysed when applying excel.   - Discover how data analysis can improve business decisions by examining: What is a database? The application of a single table database The use of a two-table database The steps for working with a database in Excel The features of filters The appropriate use of custom filters How to access data using VLOOKUP and HLOOKUP?   3. Effectively using pivot tables to enhance the functionality of your spreadsheet model - Use Pivot Tables to perform a cross-tabulation of data, summarising them into one or more classifications.   - By creating pivot charts, which combine all the same functionality of standard excel charts with the dynamic characteristics of pivot tables, you will be able to achieve a graphic report that updates data whenever it is changed.   Learn how to: Understand the key features of a Pivot Table Prepare a Pivot Table Analyse and display data from different points of view Create a Pivot Chart from your Pivot Table     4. Developing appropriate techniques for using data tables   By constructing data tables in your spreadsheet model, you will be able to view, not only a few scenarios of your data, but also a large number of permutations that can be summarised in one table.   Learn how to apply these key techniques by: Examining the features of a data table Applying conditional formatting within data tables Analysing various formatting techniques 5. Applying goal seek and solver features to maximise the output of your financial model   - Learn to use the Goal Seek feature to find a value of a single input and a desired level in terms of output.   - By applying the Solver technique, you will be able to determine a combination of inputs which optimises output.   Understand the practical application of these techniques: Undertaking a sensitivity analysis with the use of data tables Using Goal Seek to find the ‘indifference point’ Applying two-way data tables and solver Adopting solver to maximise profit Examining two-way data tables and decision-making under uncertainty     6. Applying scenario techniques to determine alternatives and constraints in your financial model   - By creating multiple scenarios for a single ‘what-if’ model, you will be able to assess each scenario with its own set of variables. Understand relationships between scenarios, using scenario summary and pivot table reports by: Defining scenarios in your spreadsheet Understanding how to browse your scenarios Adding, editing and deleting scenarios Routing and merging scenarios Creating scenario reports   7. Charting your data in order to create effective analysis of your financial model   Practical Exercises   - Add new points and series to a chart, and change the order in which excel plots your series and multilevel categories of information.   Learn how to add trend lines and error bars and apply techniques for effectively charting your spreadsheet data by: Adding data Removing data Changing or replacing data Plotting or marking every “nth” point Changing the plot order Using multilevel categories Applying trend lines Creating error bars   8. Determining the appropriate capital budgeting models to formulate effective capital investment decisions   Practical Exercises     Discover how Excel can help you decide whether to undertake an investment project and correctly rank your projects.   Learn how and when to use Excel’s NPV, IRR and MIRR functions to assess your capital expenditure project by: Understanding the NPV rule for judging investments and projects Assessing the IRR rule for judging investments Determining the appropriate method to use - NPV or IRR Evaluating when IRR and NPV give the same answer Establishing when to apply IRR and NPV for different project rankings Using modified IRR (MIRR) to overcome the weaknesses of IRR Financial Modelling using Excel