Professional Course

Financial Modelling School: Module 2 - Advanced Financial Modelling in Excel

Euromoney Learning, In London (+2 locations)
Length
2 days
Price
2,795 GBP + tax
Next course start
25 April, 2024 (+9 start dates)
Delivery
Classroom
Length
2 days
Price
2,795 GBP + tax
Next course start
25 April, 2024 (+9 start dates)
Delivery
Classroom
This provider usually responds within 48 hours 👍

Course description

Financial Modelling School: Module 2 - Advanced Financial Modelling in Excel

The course is designed to support junior and middle financial analysts, modellers and their managers in creating financial models on a consistent and focussed basis. Some previous use of Excel is assumed, but Participants will not need an advanced knowledge.

Attend this intensive and highly practical 2–day training course and learn the best practice techniques in:

  • Best practice in financial modeling
  • Cash flow forecasting
  • Integrating balance sheets
  • Sensitivity analysis

PLUS: Enhance your practical skills with practical exercises done in class with support from the trainer.

Upcoming start dates

Choose between 9 start dates

25 April, 2024

  • Classroom
  • Dubai
  • English

25 April, 2024

  • Classroom
  • Dubai
  • English

25 April, 2024

  • Classroom
  • Dubai
  • English

4 July, 2024

  • Classroom
  • London
  • English

4 July, 2024

  • Classroom
  • London
  • English

4 July, 2024

  • Classroom
  • London
  • English

28 November, 2024

  • Classroom
  • Paris
  • English

28 November, 2024

  • Classroom
  • Paris
  • English

28 November, 2024

  • Classroom
  • Paris
  • English

Who should attend?

Who Should Attend:

Participants who have some experience of financial modeling, but need more in-depth exposure to correct structuring of models, better tools for building them and experience in using them to understand and analyze transactions.

Training content

Day 1 and Day 2

Session 1 – Revision of Principles of Financial Modelling

  • Best financial modelling practice
  • Overall structure of the model
  • The need for flexibility, and the required model structure to accommodate change
  • Separation of inputs, calculations and outputs
  • Use of flags for control of timing factors
  • Multi-sheet formulas and nested IF statements
  • Switches to allow options to be selected, and use of choice boxes
  • Use of the corkscrew technique
  • Check balances and error controls, use of conditional formatting
  • Ease of hand-over to / use by another user
  • Exercise – creating a cashflow from an assumptions input sheet with built-in flexibility

Session 2 – Review of Financial Functions in Excel

  • Revision of financial mathematics and discounted cashflow principles
  • Review of the most commonly-used financial functions:
    • PV, FV and financial maths functions
  • Statistical functions in Excel
  • Depreciation functions in Excel
  • Date and Time functions in Excel
  • Logical functions – using TRUE, FALSE, IF, AND & OR in combination
  • Lookup and Reference formulae: Lookups, OFFSET and MATCH formulae
  • Using INDEX and MATCH together
  • Error trapping functions
  • Exercise – use the newly-learned functions to analyse data flexibly

Session 3 - Modelling Taxes

  • Distinction between value-added taxes, customs duties and corporate tax on profits
  • Recognition of revenue for tax purposes
  • Tax treatment of costs
  • Non-deductible costs
  • Interest deductibility restrictions
  • Capital allowances and depreciation
  • Tax loss carry-forwards and how to model them
  • Restrictions on use of tax losses
  • Example - Review of an example of tax modelling for an investment project
  • Exercise – add corporate tax costs and payments into a pre-prepared income statement and cash flow model

Session 4 – More Advanced Cashflow Analysis

  • Brief revision of:
    • Time value of money
    • WACC
    • Capital Asset Pricing Model
  • Concept of funding from sequential sources
  • Modelling debt drawdowns, headroom limits and constraints
  • Modelling debt repayments in a hierarchy
  • Dividend distributions under constraints
  • Cash flow metrics: NPV, IRR, XIRR, XNPV, MIRR
  • Exercise – create a cashflow forecast drawing multiple sources of funding, repaying out of future cashflows and calculating returns

Session 5 – Modelling the Balance Sheet

  • Link between cashflow and income statement
  • Key balance sheet items and the assumptions required to be made
  • Non-cash items: depreciation, deferred tax
  • Use of existing figures & opening balance sheets
  • Ensuring the result always balances and always makes sense
  • Exercise – create a balance sheet from cashflow and income statement figures, with flexible assumptions

Session 6 - Model Auditing

  • Use of the formula auditing toolbar
  • Checks, totals and error reporting
  • Logic trees & flowcharts
  • Non-Excel tools available
  • Exercise – from a given model, audit and uncover errors and inconsistencies

Session 7 - Using the Model for Valuations

  • Valuation of project / enterprise and valuation of equity:
    • Asset-based valuations
    • Cash flow valuation techniques:
      • Discounted cash flow
      • Building in synergies for M&A
      • Discounted dividend model
      • Gordon’s growth model
    • Valuation using comparable measures:
      • Price – Earnings Ratios
      • Dividend Yield Method
      • Transaction Comparables: Exit multiples
  • Exercise – from a given cash flow and balance sheet, calculate valuations on different bases

Session 8 - Creating Simple Macros

  • What is a macro?
  • How macros help in financial modelling
  • Best practice in creating and using macros
  • Use of range names
  • Documentation of macros
  • Exercise – creating a macro without using VBA

Session 9 – Wrap-Up

  • Overall review
  • Key points to re-iterate
  • Introduction to further reading and exercises

Final questions and issues to discuss

Costs

Course fee: £2645 + VAT

Why choose Euromoney Learning?

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Euromoney Learning

Euromoney Learning

At Euromoney Learning, we understand that learning doesn’t start and end when you leave the classroom. We know that the financial markets never stand still, and that technology has both simplified and added complexity at a break-neck pace. That’s why...

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