Financial Modelling Using Excel Training Course

Participants can use Excel functions, references and auditing features to create efficient, reviewable calculations.

• Absolute, relative and mixed references support copyable financial formulas
• Excel Tables structure inputs and extend formulas without range errors
• SUMIFS, XLOOKUP and INDEX-MATCH retrieve driver data reliably
• IFERROR, ROUND and logical tests manage incomplete model inputs
• Named ranges improve formula readability and audit traceability
• Keyboard shortcuts, Go To Special and formula auditing speed review

Participants can prepare historical financial data as a reliable basis for forecast model assumptions.

• Import trial balance data and map accounts to statements
• Recast historical income statements into management reporting categories
• Normalize one-off items, discontinued operations and accounting-policy changes
• Construct common-size analysis using revenue and asset-base denominators
• Calculate growth, margin, turnover and working-capital performance ratios
• Trend analysis identifies structural movements and forecast starting points

Participants can forecast operating performance through explicit commercial and operational drivers.

• Revenue build uses price, volume, mix and capacity drivers
• Segment assumptions link market growth, share and sales conversion
• Cost of sales forecasts distinguish variable, fixed and step costs
• Operating expense schedules apply headcount, inflation and productivity assumptions
• Working-capital days translate trading forecasts into receivables and inventory
• Driver hierarchy separates assumptions, calculations and reported outputs

Participants can link forecast income statements, balance sheets and cash flow statements into one model.

• Link income statement, balance sheet and cash flow statement
• Depreciation schedule connects capital expenditure, useful lives and accumulated depreciation
• Working-capital movements reconcile balance-sheet balances to operating cash flow
• Retained earnings roll-forward incorporates profit, dividends and prior balances
• Balance-sheet check verifies assets equal liabilities plus equity
• Cash flow reconciliation identifies circularity and sign-convention errors

Participants can model asset investment, debt funding, interest expense and covenant performance.

• Capital expenditure schedule separates maintenance, expansion and replacement spending
• Straight-line depreciation and declining-balance methods model fixed-asset charges
• Debt tranches capture drawdowns, amortisation, interest and maturity profiles
• Interest expense uses average balance, cash sweep and circularity controls
• Revolver logic funds shortfalls subject to facility limits and fees
• Covenant calculations test debt-service coverage and net-debt-to-EBITDA ratios

Participants can prepare short-term and forecast-period cash flow models for funding decisions.

• 13-week rolling cash forecast integrates receipts, payroll and supplier payments
• Direct cash flow method forecasts operating cash by payment timing
• Indirect cash flow statement reconciles net income to cash movement
• Receivables ageing and collection curves refine customer receipt assumptions
• Supplier terms, tax dates and payroll calendars drive payment schedules
• Minimum cash policy and liquidity headroom quantify funding requirements

Participants can calculate and interpret valuation ranges using DCF and market multiple methods.

• Enterprise value bridges operating forecasts, capital structure and investor returns
• Discounted cash flow valuation uses unlevered free cash flow
• WACC calculation combines risk-free rate, beta, equity premium and borrowing costs
• Terminal value applies perpetuity-growth and exit-multiple methods
• Trading comparables normalize EV/EBITDA, EV/EBIT and price-to-earnings multiples
• Enterprise-to-equity bridge adjusts debt, cash and non-operating assets

Participants can test uncertainty and present model-based decision implications clearly.

• Base, upside and downside cases isolate key commercial assumptions
• One-way and two-way data tables quantify valuation sensitivity
• Scenario manager documentation distinguishes drivers, outputs and decision implications
• Break-even analysis identifies volume, price or margin thresholds
• Monte Carlo simulation principles assess distributions without false precision
• Waterfall charts communicate value bridges and earnings variance clearly

Participants can audit, document and present a financial model for management review.

• Formula auditing traces precedents, dependents, errors and inconsistent calculations
• Model review checklist tests structure, logic, integrity and presentation
• Independent checks reconcile model outputs to source financial statements
• Version control records assumption changes, reviewer comments and release dates
• Executive outputs present drivers, risks, sensitivities and recommended actions
• Application plan specifies a workplace model, stakeholders and review milestones