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Using Excel for Business Analysis

Using Excel for Business Analysis A Guide to Financial Modelling Fundamentals, Edition Revised for Excel 2013

  • Author:
  • Publisher: John Wiley & Sons
  • ISBN: 9781119062462
  • Published In: May 2015
  • Format: Paperback , 464 pages
  • Jurisdiction: International ? Disclaimer:
    Countri(es) stated herein are used as reference only

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    Utilise Excel 2013 capabilities to build effective financial models

    Using Excel for Business Analysis, Revised Edition provides practical guidance for anyone looking to build financial models. Whether for business proposals, opportunity evaluation, financial reports, or any other business finance application, this book shows you how to design, create, and test your model, then present your results effectively using Excel 2013. The book opens with a general guide to financial modelling, with each subsequent chapter building skill upon skill until you have a real, working model of your own. Financial tools, features, and functions are covered in detail from a practical perspective, and put in context with application to real-world examples. Each chapter focuses on a different aspect of Excel modelling, including step-by-step instructions that walk you through each feature, and the companion website provides live model worksheets that give you the real hands-on practice you need to start doing your job faster, more efficiently, and with fewer errors.

    Financial modelling is an invaluable business tool, and Excel 2013 is capable of supporting the most common and useful models most businesses need. This book shows you how to dig deeper into Excel's functionality to craft effective financial models and provide important information that informs good decision-making.

    • Learn financial modelling techniques and best practice
    • Master the formulas and functions that bring your model to life
    • Apply stress testing and sensitivity analysis with advanced conditionals
    • Present your results effectively, whether graphically, orally, or written

    A deceptively powerful application, Excel supports many hundreds of tools, features, and functions; Using Excel for Business Analysis eliminates the irrelevant to focus on those that are most useful to business finance users, with detailed guidance toward utilisation and best practice. 

  • Preface ix

    CHAPTER 1 What Is Financial Modelling? 1

    What’s the Difference between a

    Spreadsheet and a Financial Model? 4

    Types and Purposes of Financial Models 5

    Tool Selection 6

    What Skills Do You Need to Be a Good Financial Modeller? 17

    The Ideal Financial Modeller 24

    Summary 28

    CHAPTER 2 Building a Model 31

    Model Design 31

    The Golden Rules for Model Design 33

    Design Issues 35

    The Workbook Anatomy of a Model 36

    Project Planning Your Model 38

    Model Layout Flow Charting 41

    Steps to Building a Model 41

    Information Requests 50

    Version-Control Documentation 51

    Summary 53

    CHAPTER 3 Best Practice Principles of Modelling 55

    Document Your Assumptions 55

    Linking, Not Hard Coding 56

    Enter Data Only Once 57

    Avoid Bad Habits 57

    Use Consistent Formulas 57

    Format and Label Clearly 58

    Methods and Tools of Assumptions Documentation 59

    Linked Dynamic Text Assumptions Documentation 67

    What Makes a Good Model? 70

    Summary 72

    CHAPTER 4 Financial Modelling Techniques 73

    The Problem with Excel 73

    Error Avoidance Strategies 75

    How Long Should a Formula Be? 81

    Linking to External Files 83

    Building Error Checks 86

    Summary 96

    CHAPTER 5 Using Excel in Financial Modelling 97

    Formulas and Functions in Excel 97

    Excel Versions 101

    Handy Excel Shortcuts 103

    Basic Excel Functions 109

    Logical Functions 112

    Nesting: Combining Simple Functions to

    Create Complex Formulas 115

    Cell Referencing Best Practices 119

    Named Ranges 122

    Summary 126

    CHAPTER 6 Functions for Financial Modelling 127

    Aggregation Functions 127

    LOOKUP Formulas 140

    Nesting INDEX and MATCH 153

    OFFSET Function 157

    Regression Analysis 161

    CHOOSE Function 164

    Working with Dates 166

    Financial Project Evaluation Functions 174

    Loan Calculations 180

    Summary 186

    CHAPTER 7 Tools for Model Display 187

    Basic Formatting 187

    Custom Formatting 187

    Conditional Formatting 193

    Sparklines 200

    Bulletproofing Your Model 204

    Customising the Display Settings 208

    Form Controls 216

    Summary 232

    CHAPTER 8 Tools for Financial Modelling 233

    Hiding Sections of a Model 233

    Grouping 238

    Array Formulas 240

    Goal Seeking 247

    Structured Reference Tables 249

    PivotTables 251

    Macros 262

    Summary 272

    CHAPTER 9 Common Uses of Tools in Financial Modelling 273

    Escalation Methods for Modelling 273

    Understanding Nominal and Effective (Real) Rates 278

    Calculating Cumulative Totals 283

    How to Calculate a Payback Period 284

    Weighted Average Cost of Capital (WACC) 288

    Building a Tiering Table 293

    Modelling Depreciation Methods 296

    Break-Even Analysis 307

    Summary 313

    CHAPTER 10 Model Review 315

    Rebuilding an Inherited Model 315

    Improving Model Performance 323

    Auditing a Financial Model 328

    Summary 335

    Appendix 10.1: QA Log 336

    CHAPTER 11 Stress-Testing, Scenarios, and Sensitivity Analysis in Financial Modelling 337

    What Are the Differences between Scenario, Sensitivity, and What-If Analyses? 338

    Overview of Scenario Analysis Tools and Methods 340

    Advanced Conditional Formatting 349

    Comparing Scenario Methods 353

    Summary 365

    CHAPTER 12 Presenting Model Output 367

    Preparing an Oral Presentation for Model Results 367

    Preparing a Graphic or Written Presentation for Model Results 369

    Chart Types 372

    Working with Charts 380

    Handy Charting Hints 386

    Dynamic Named Ranges 388

    Charting with Two Different Axes and Chart Types 394

    Bubble Charts 400

    Creating a Dynamic Chart 402

    Waterfall Charts 407

    Summary 420

    About the Author 421

    About the Website 423

    Index 425

  • DANIELLE STEIN FAIRHURST is the Principal of Plum Solutions, a Sydney-based consultancy specialising in financial modelling and analysis. Her extensive experience as a financial analyst enables her to help her clients create meaningful financial models. She is regularly engaged as a speaker, course facilitator, financial modelling consultant, and analyst.

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