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Certified Financial Modeller - Advanced Financial Modelling Using Excel & V...

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The ability to create and understand financial models is one of the most valued skills in business and finance
today. Microsoft Excel with Visual Basic for Application (VBA) macros programming has been the dominant
vehicle used by finance and corporate professionals in the preparation and utilization of the full range of financial
models and other applications. However, as a result of the so called ‘95/5’ rule it can be concluded that 95% of Excel users probably only use a mere 5% of the program’s power. Most users know that they could be getting more out of Excel especially by using VBA which would result in them being able to build more flexible, dynamic and professional models. Unfortunately, this aspect of Excel and VBA often appears to be complex and intimidating. This intensive 5 day workshop starts with basics and progresses in a logical step by step manner to the more complex and rewarding tools needed to build more robust models that save time, reduce unnecessary human errors and customize applications that would be impossible to achieve with suboptimal models. Every
section is followed by a direct application related to the financial markets and financial issues. The course will emphasize some important financial concepts that will assist in building vigorous models. It is designed to give you the information you need without making you wade through cumbersome explanations and endless technical background. Delegates will need some basic knowledge of Excel but not of professional modelling or programming.

DAY ONE
Design principles for good model building
»»Principle of Occam’s razor
»»Interrelationships within a model
»»Logical arrangement of the parts
»»Setting toggles
»»Model design and structure
»»Attributes of good Excel models
Exploring Excel functions
»»Financial
»»Date and time
»»Statistical
»»Lookup & reference
»»Database
»»Text
»»Logical
»»Information
Helpful starting hints
»»Formula errors vs user errors
»» Warning signs
»» Using the F-Keys and combinations of F-Keys.
»» Name ranges using Create Names
»» Making range names more informative
»» Editing name ranges
»»Data validation
»»The Analysis ToolPak
»»Using formula auditing
The 40 functions you will work with as a financial modeler
»»Basic, intermediate and advanced functions
»»Arguments in advanced functions
»»Dealing with errors
»»Boolean logic
»»Change nested IF’s to something powerful
»»Array formulas
»»Using array formulas with the offset function
»»Calculating geometric return using arrays
»»Annualizing geometric returns
»»The power and manipulation of looking up data
»»Powering the offset with the match function and drop down menus
»»Combining the Index function with the match function
»»Strengthening the If function with (Min, Max, Choose, Offset, And, Or functions)
»»Conditional addition and counting functions
»»Manipulating date functions in complex examples
»»When to use DAYS360 in a model
»»Solving problems with DAYS360
»»Working with parts of numbers
»»Working with numbers in a direction
»»Using the IS-suit (isnumber, istext, isblank, iserror, iserr, islogical, isna, isnontext, isref) with logical formulas
»»Going through a spreadsheet that contains worked examples of all 40 functions
Exercise 1: building a dynamic performance database from scratch using arrays, the offset function, the match
function, the index function and drop down menus

DAY TWO
Financial functions
»»Understanding net present value
»»Understanding internal rate of return
»»Going through a worked example of a project cash flow
»»Problems with the IRR calculation
»»Multiple IRR
»»Shooting yourself in the foot with incorrect assumptions
»»NPV
»»XNPV
»»IRR
»»MIRR
»»XIRR
Exercise 1: Modelling the IRR and MIRR of a construction project
Modeling forecasted financial statements
»»Forecasting guidelines
»»Modelling the connection between the income statement and the Balance Sheet
»»Assumptions margin
»»Two ways to balance the balance sheet
»»Using plugs to balance the balance sheet
»»Surplus funds and the necessity to finance
»»Modelling the provision for taxes
»»Static vs dynamic analysis
»»Effect of surplus income from surplus funds
»»Flows in the Cash Flow Statement (Operations, Investment, Financing)
»»Structuring a cash sweep
»»Modelling payment of successive debt tranches
»»Calculation of the post-sweep debt numbers
»»Cash flow variation for cash sweep
»»Reality checks
»»Adding an error trapping formula
»»Using conditional formatting
»»Finding cells that have conditional formats
»»Structuring the input sheet vs output sheets
»»Modelling common size statements
»»Smoothing techniques in forecasting
»»Simple and multiple regression analysis
»»Sensitivity analysis in forecasting
Modeling Ratio Analysis and Key Performance Indicators
»»Efficiency ratios
»»Profitability ratios
»»Leverage ratios
»»Coverage ratios
Exercise 3: Forecasting the financial statements of a company with full ratio analysis for five years in future.

DAY THREE
Optimization Solutions with Excel Solver
»»Installing the solver add-in
»»Goal seek
»»Solver parameters
»»Decision variables and constraints
»»Tolerance levels
»»Solving problems with integer constraints
»»Using Solver for a working capital management model
»»Using Solver for a capital budgeting model
»»Using Solver for an inventory policy model
»»Using Solver for a cash management model
»»Using Solver for a capacity planning model
Exercise 4: building a model from scratch for a product mix and pricing problem
Pivot Tables
»»Introduction to Pivot tables
»»Creating a Pivot Table report
»»Categorizing raw data
»»The Pivot Table wizard
»»Percentage of column, percentage of raw, and percentage of previous
»»Top and bottom 10 feature
»»Creating formulas in pivot tables
»»Retrieving data from external sources including access and internet
»»Linking Pivot Tables to MySQL
»»Pivot charts manipulation
»»Building one variable Data Tables
»»Building two variables Data Tables
Exercise 5: building a Pivot Table for portfolio data
Power Pivot Extensions:
»»Combine data from different sources in one pivot table
»»Combine huge amount of data in the most optimal way
»»Connect to databases
»»Private calculated members
»»Calculations library
»»Limitations
»»View Pivot Table MDX
»»Filtering Pivot Table to a list
»»Changing Pivot Table Defaults
»»Searching in OLAPS
»»Distributing Pivot Tables
»»Best practice
Exercise 6: creating Power Pivot applications for financial analysis

DAY FOUR
Monte Carlo Simulation using Crystal Ball:
»»Introduction to Crystal Ball
»»Introduction to probability distributions and their importance in decision making
»»Stochastic vs static models
»»Building a stochastic model
»»Moving away from “Best, Worst and Normal forecasts” to more dynamic solutions
»»Monte Carlo simulation versus “what if” scenarios
»»Incorporating decision rules into Monte Carlo simulations
»»Introducing assumptions
»»Using the step functionality vs running the simulation for 1 million trials
»»Using the Fit to automatically get the distribution of historical numbers
»»Step by step application of Monte Carlo Simulation
Exercise 7: Using Monte Carlo Simulation to calculate the NPV of a project
Introduction to VBA
»»What is a macro?
»»Creating a simple macro
»»Changing multiple properties at once
»»Assigning a shortcut key to a macro
»»Looking inside a macro
»»Objects, properties and methods
»»Navigating the Visual Basic Auditor
»»Manipulating recorded properties
»»Eliminating repeated objects in a recorded macro
»»The Select…Selection structure
»»The With Selection structure
»»Making long statements more readable
»»Designate a trusted location for macros
»»Looping
»»Branching
»»Automating spreadsheets
»»Retriveing data from non-Excel sources
»»Recording a macro that runs other macros
Case Study: Automating database update with new month data:
»»Task one: automating transfer of data from a non-Excel source
»»Task two: automating data filling
»»Task three: automating column addition
»»Task four: automating data base update
»»Task five: recording a macro that runs other macros
»»Handling pop up messages automatically
»»Simplifying the subroutine statements
»»Finding your ways in VBA even if you are not a programmer
Exercise 8: practical automatic update of a database with huge monthly data.
Loops:
»»Creating loops
»»For Each Loop
»»For Loop
»»Do Loop
»»Managing large loops
»»Set a breakpoint
»»Set a temporary breakpoint
»»Show progress in a loop
Exercise 9: recording a macro in Excel and navigating through the Basic Editor

DAY FIVE
Building custom new functions in Excel using VBA
»»Using a custom function from a worksheet
»»Introduction to Project Explorer
»»Adding arguments to a custom function
»»Making a function volatile
»»Making arguments optional
»»Using a custom function from a macro
»»Developing and storing a new add-in
»»Making use of the hundreds of freely available custom functions in the Internet
Exercise 10: Building a new custom Function in Excel and storing it in an add-in to be available
whenever Excel opens
Case study: Building a loan amortization table using VBA
»»Coding in VBA
»»Best practice order structure
»»Analyzing the problem and translating it into a macro
»»Explaining the parameters of the table
»»Setting the required calculations
»»Designing the code
»»Testing the code
»»Analyzing potential errors
»»Running the macro in different settings
»»Creating a custom function for the loan amortization table
Exercise 11: Analyzing the loan amortization code in VBA using two different ways

For more details, feel free to email me mile.p@leoron.com or call me at our toll free number: +971 800 536766

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