Course dates
Learn how to construct different financial models and analyse their applications and uses:
- Model Design and Structure.
- Spreadsheet Best Practice.
- Testing and Auditing a Model.
- Forecasting.
- Sensitivity and Risk.
- Simulation.
- Optimisation and Targeting.
- Management Reporting.
On completion of this 3-day training programme delegates will be able to:
- Understand the different types of financial models and when each should be applied.
- Construct models that are robust, tested and scalable.
- Incorporate elements such as risk, sensitivity, optimisation and forecasting into the model.
- Produce management reports, summaries and meaningful charts.
Teaching methodology
The programme is taught using formal lectures combined with practical and interactive case studies and exercises to reinforce the concepts covered in each teaching session. Emphasis is placed on delegates gaining practical, hands-on experience of the design and construction of financial models in Excel.
Comprehensive product notes and modelling software will be provided for future reference. The course is very practical with a case study in session four of each day, and other exercises in each of the sessions. The investment model started on day one is added to on days two and three.
Who should attend?
This course has been designed for:
- CFOs.
- Financial controllers and managers.
- Financial & business analysts.
- Risk managers.
- Accountants.
- Corporate treasury managers.
- Middle office staff.
- General managers.
Course Level
The course begins by concentrating on the advanced use of Excel. These skills will be applied to the construction of financial, valuation and investment models. Delegates will then learn how to incorporate forecasting, optimisation, risk assessment and sensitivity scenarios into these models. The course is taught using a step-by step approach so delegates will be able to construct financial models for a wide range of practical scenarios.
Course Background
When looking at any financial opportunity, the ability to perform accurate and realistic analysis is imperative. In today's ever-changing business environment, the capability to just manipulate spreadsheets is not enough. You have to be able to incorporate all the "what if" scenarios and stress any proposal to its limits. A working financial model can facilitate and improve the reliability and quality of your decision-making.
Modelling techniques are used in many different areas, such as investment appraisal, capital planning, budgeting, valuation, financial analysis and forecasting. Banks and businesses worldwide rely on the information produced by financial models – for many it is the key to success.
Day 1
Overview of Modelling Techniques
Introduction and Overview
- Outline of financial modelling.
- Examples of Excel financial models.
- Useful Excel features and techniques.
Exercise: analysing examples of modelling techniques.
Spreadsheet Best Practice
- Model design and structure – key steps.
- Financial analysis basics – financial statements.
- Cash flow and ratios.
- Case outline - introduction.
Exercise: defining a model plan.
Exercise: Techniques for modelling financial statements.
Auditing and Testing
- Auditing and Testing.
- Examples of spreadsheet errors.
- Essential testing and auditing techniques.
- Example: testing financial analysis model with cashflows and ratios.
Exercise: debugging and checking a financial model.
Practical – Project Model 1.
- Practical project model exercise.
Questions and answers.
Day 2
Risk, Scenarios and Forecasting
Macros and Security
- Visual Basic in Excel.
- Writing and auditing and macros.
- Spreadsheet security.
Example: writing and auditing macros.
Forecasting Models and Time Series Analysis
- Review of forecasting methods.
- Understanding financial ‘drivers’ for analysis, valuation and project models.
Example: deriving forecast free cash flow and ratios.
- Linear methods.
- Smoothing and seasonality.
- Macro forecasting and regression.
Example: producing a forecast with time series analysis.
Risk Techniques
- Valuation model and cost of capital fundamentals.
Example: calculating the cost of capital.
- Risk and multiple answers.
- Scenario techniques.
- Advanced financial functions.
Example: producing a valuation and testing the results.
Practical – Project Model 2.
- Review of initial answers and identification of potential risks.
- Adding risk techniques to the project model in module 4.
- Questions and answers.
Day 3
Simulation, Optimisation and Reporting
Risk and Simulation
- Elements of a simulation model.
- Building blocks in Excel.
- Monte Carlo simulation methods.
Example: building a simulation model in Excel.
Optimisation and Targeting
- Overview of optimisation and targeting.
- Goal seek and Solver methods.
Example: targeting using the composite valuation mode.
Practical – Project Model 3.
- Extend the project model to answer management questions and target specific results.
- Completing and auditing the project model.
Management Reporting
- Requirement to consolidate and summarise data.
Exercise: consolidating data from different sources.
Practical - Management Reporting and Forecasting.
- Analysis of company financial data.
Exercise: extend the valuation model to produce a meaningful management summary report with charts.
Questions & answers.
Course summary and close
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The course instructor is a finance professional with extensive experience of business analysis systems, accounting, funding and treasury activities. He has been responsible for establishing treasury function and has modelled large transactions for evaluation and lease portfolio acquisition.
The course instructor established an independent lessor and consultancy. He has conducted a range of modelling and consulting assignments producing models for financial analysis, valuation, mergers, buyouts, projects and data analysis.
In addition, the course instructor works as a consultant with Euromoney Training in Europe, Asia, Middle East, Africa and America, designing and delivering courses covering financial modelling from general modelling to specific valuation, leasing and other courses.
The course instructor has a degree in German and Economics from London University and an MBA from the Open University Business School. He is an associate lecturer at the Open University Business School and has written a number of books and publications.
Courses run by this instructor
Lagos Hotel, Lagos, Nigeria
This programme takes place on a non-residential basis at a central Lagos hotel. Non-residential course fees include training facilities, documentation, lunches and refreshments for the duration of the programme. Delegates are responsible for arranging their own accommodation, however, a list of convenient hotels (many at specially negotiated rates) is available upon registration.
Interested in holding this course in-house? Please fill out your details and a member of our team will be in touch with more information.
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