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Excel for Financial Modelling

Microsoft Excel is one of the most important business tools any of us will use. It’s the tool of choice for presenting and analysing data. However, even though Excel is so widely used, much of the workforce don’t know how to apply all of the fantastic tools which are available.

We provide a comprehensive range of Excel and financial modelling programmes.

Applications of financial modelling include: valuing companies, making mergers and acquisition decisions, budgeting and forecasting, performing financial feasibility, and credit analysis.

Any organisation that wants to get ahead of the curve in Microsoft Excel. It’s ideal for anyone who wants to learn more about Excel for financial management and modelling, and how to develop best practices that will improve efficiency and productivity.

There are no formal entry requirements. It’s open to anyone who wants to progress their Excel skills.

Looking to upskill your staff?

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Confidence in the workplace

Microsoft Excel is an important tool. Your employees will work towards being more proficient, faster, accurate, and able to make better decisions.

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Enhanced analytical skills

Individuals will work towards developing strong analytical skills and be able to add value to multiple projects.

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Data visualisation techniques

Understand how to tell a story by bringing insights to life. Display all company data in a visually attractive format for different audiences.

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Practical case studies and exercises

We provide lots of modelling case studies to learn from. We also provide Excel files and exercises to explore Excel tools and functionality.

小蓝视频 the programmes

Whatever your employees understanding is of Excel, we can take them to the next level. Our Excel programmes are split out by beginner, intermediate, and advanced. This ensures that every learner receives the most appropriate training to meet their needs. Most of our programmes can be done in a day, whether in-person in your offices, or online.

Beginner

Introduction to Excel Functionality

This introductory course expands your knowledge on the day-to-day uses of Excel. Major topics include data entry tips and tricks, formatting, formulae and functions, named cells and blocks of cells, data validation, data tables, and protection of cells and worksheets.

Learning outcomes

  • Use keyboard shortcuts to improve speed and efficiency
  • Use of excel quick access toolbar and cell styling tools
  • Learn and apply various intermediate and advanced Excel functions
  • Learn and apply what if analysis and data validation tools in Excel
  • Produce high quality and dynamic charts for data presentations
  • Learn to implement a pivot table to analyse a large dataset
  • Learn to record and edit macros to automate daily tasks.
  • Data handling – entering and editing differing data types in Excel
  • Useful Excel shortcuts for speed and efficiency
  • Formatting and efficiency skills – conditional formatting, cell styles, quick access toolbar
  • Absolute and relative cell referencing (use of $ signs)
  • Creating, editing, and deleting cell names
  • Working with functions – basic math, logical, date, lookup, text, and finance functions
  • Advanced Functions, INDEX, MATCH, OFFSET, CHOOSE, AVERAGEIF, MEDIANIF, MAXIF, MINIF, and more
  • Data validation and its various applications
  • What If analysis tools: Data table (sensitivity analysis), Goal Seek and Scenario Manager
  • Data analysis and mining: Working with large data sets (sorting, subtotals, filtering)
  • Charting in Excel: creating dynamic and flexible charts
  • Pivot tables and pivot charts
  • Developer tool: VBA drop-down lists, checkboxes, and more
  • Auditing and excel analysis file/model: Auditing tools: F5 (special)
  • Recording macros in excel and editing using basic VBA tools

Financial Statement Analysis using Excel

This introductory course expands your knowledge on the day-to-day uses of Excel. Major topics include data entry tips and tricks, formatting, formulae and functions, named cells and blocks of cells, data validation, data tables, and protection of cells and worksheets.

Learning outcomes

  • Learn and apply Excel tools useful in financial statement analysis
  • Analyse income statements and its key components
  • Analyse balance sheets and its key elements
  • Analyse cash flow statements and its key elements
  • Understand the link between the three financial statements
  • Perform ratio analysis and assess a company's KPI’s (key performance indicators)
  • Excel tools used in financial statement analysis
  • Introduction to the three statements: Income Statement, Balance Sheet and Cash Flow Statement
  • Understanding the accounting equation (A = L + E) and how transactions in a business affects it
  • Analysing different components of income statements
  • Understand implications of Capitalising vs. Expensing
  • Analysing different parts of a balance sheet
  • Analysing a cash flow statement
  • Preparing cash flow statements using the direct and in direct method
  • Financial statement analysis - common size analysis
  • Financial statement analysis - ratio analysis

Introduction to Financial Modelling with Excel

You'll cover the principles and practice of financial modelling, focusing on a case study involving the construction of an integrated set of financial statements, and subsequent investment appraisal.

Learning outcomes

  • Learn and apply Excel tools useful in financial forecasting
  • Understand and design the layout of a flexible model
  • Forecast financial statements of a public or private company
  • Apply scenario analysis to the forecasted financial statements
  • Prepare charts for data presentation
  • Overview of financial modelling
  • Excel tools used in financial modelling
  • Model design and structure for the case study company
  • Know the key model outputs and their drivers and understand the requisite inputs
  • Developing cell styles for model transparency and review
  • Incorporating historical financial statements of the subject company
  • Building balance sheet error checks in the model
  • Forecasting financial statements: forecasting revenue and key operating expenses
  • Projecting key schedules: debt and interest, capex and depreciation, and working capital
  • Stepwise projection of income state

Intermediate

Corporate Valuation using Excel

Whether the objective is to value a company for an investor or for a merger and acquisition transaction, the programme covers all aspects of valuation using real-life case studies and valuation models.

Learning outcomes

  • Understand the drivers of corporate value: cash, growth, and risk
  • Understand components of a company's enterprise value
  • Calculate equity value from enterprise value (EV) and vice versa
  • Calculate a company's weighted average cost of capital (WACC) and its components
  • Learn and apply discounted cash flow valuation tools
  • Learn and utilise multiples-based valuation tools
  • Perform scenario and sensitivity analysis for valuation outputs
  • Introduction to corporate valuation - difference between enterprise value and equity value
  • Understanding and calculating enterprise value and its components

DCF Valuation

  • Understanding FCFF and FCFE
  • Choice of forecast horizon and forecasting key drivers of free cash flows
  • Understanding the key inputs and calculating WACC
  • Calculating and performing sanity checks for terminal value – using growth rate and multiple methods
  • Calculating equity value from enterprise value: EV to equity bridge

Multiples based valuation

  • Different types of valuation multiples: P/E, P/B, P/S, EV/EBITDA, EV/Sales
  • Understanding what drives the valuation multiples – cash, growth and risk analysis
  • Selecting the right set of multiples to value the subject company – price based or EV based
  • Selecting the right set of peer groups to value the subject company
  • Cleaning and normalising the operating metrics (EPS, EBITDA) for the comparable universe
  • Using prior transaction multiples

Three Statement Modelling and Valuation

The objective of this programme is to equip learners with the knowledge and tools to develop a fully integrated three statement financial model from scratch and perform equity valuation.

Learning outcomes

  • Understand how to plan a model's design and structure
  • Forecast financial statements
  • Develop consistently and review friendly models
  • Understand how to perform a flexible DCF valuation
  • Perform scenario and sensitivity analysis
  • Introduction to corporate valuation - difference between enterprise value and equity value
  • Understanding and calculating enterprise value and its components

DCF Valuation

  • Overview of financial modelling
  • Key Excel tools used in financial modelling
  • Model design and structure for the case study company
  • Know the key model outputs and their drivers and understand the requisite inputs
  • Developing and using cell styles for model transparency and review
  • Extracting, cleaning and normalising historical financial statements from annual reports
  • Building error checks in the model
  • Forecasting financial statements: revenue modelling and forecasting margins
  • Projecting key schedules: debt and interest, capex and depreciation, and working capital
  • Stepwise projection of an income statement, balance sheet, and cash flows
  • Understanding and forecasting Free Cash Flows to the firm (FCFF)
  • Understanding the key inputs and calculating WACC
  • Calculating and performing sanity checks for the terminal value
  • Developing DCF Valuation
  • Performing sensitivity analysis using data tables
  • Scenario analysis

Advanced

Mergers and Acquisitions, and Leveraged Buyout Modelling

We'll equip learners with knowledge and tools to develop financial models. We aim for learners to efficiently analyse a merger and acquisition, private equity and leveraged buyout transaction.

Learning outcomes

  • Understand and develop a merger model
  • Prepare proforma group financial statements
  • Perform financing mix and accretion dilution analysis
  • Understand and develop an LBO deal analysis model
  • Prepare flexible debt schedules for different sources of debt
  • Understand and prepare a source of value creation in private equity transactions

Mergers and Acquisitions (MA) Modelling

  • Setting up an MA Model – calculating sources and uses of funds
  • Preparing pro forma financial statements – MA accounting
  • Key MA model output: EPS accretion dilution analysis, contribution analysis
  • Understanding of post transaction - P/E requirement for breakeven
  • Sensitivity analysis using data tables

Leveraged Buyout Modelling (LBO) Modelling

  • Understanding characteristics of a good LBO candidate
  • Forecasting the operating cash flows of the LBO target
  • Target’s enterprise value and uses of funds
  • Various sources of funds: senior debt (term loan A, B), High yield, mezzanine, PIK, shareholder loan and revolving line of credit
  • Preparing flexible debt and interest repayment schedules for different sources of funding
  • Incorporating cash sweep in debt schedules and avoiding circularity
  • Calculating exit IRR and MOIC for the GP and analysing the sources of value creation
  • Scenario and sensitivity analysis for analysing LBO

Advanced Financial Modelling

The objective of the programme is to help learners develop best practices to build flexible and auditable financial models and improve productivity.

Learning outcomes

  • Apply advanced Excel tools and functions in financial models
  • Develop fully flexible forecasts using switches
  • Consolidate monthly or quarterly forecasts to annual forecasts
  • Model timing flags for use in project finance and debt models
  • Decode and audit existing financial models
  • Calculate advanced metrics to analyse past investment performance
  • Create and edit macros using VBA tools
  • Create dynamic dashboards for model presentation
  • Advanced Excel tools and functions useful in financial modelling
  • Creating flexible forecasting models incorporating detailed scenario analysis using switches
  • Consolidating monthly forecasts to quarterly, and quarterly forecasts to annual
  • Using timing flags to create flexible debt repayment and project analysis schedules
  • Advanced debt modelling incorporating revolver, cash sweep and different tranches of debt
  • Financial model auditing tools – decode and understand any existing financial model
  • Analysing large volume stock price or fund performance data for investment decision making
  • Recording and editing macros using basic VBA tools
  • Dynamic dashboards and charting to present financial models

Bank Modelling and Valuation

Learners will gain the knowledge and tools to forecast a bank's financial statements and perform equity valuation from scratch.

Learning outcomes

  • Learn and apply advanced excel tools used in bank modelling
  • Understand how to plan the bank model design and structure
  • Understand a bank's financial statements and interaction between its key assets and liabilities
  • Forecast a bank's financial statements
  • Develop audit and review friendly financial models
  • Value a bank using cash flows and comps based valuation tools
  • Perform scenario and sensitivity analysis to the valuation
  • Overview of bank financial modelling
  • Key Excel tools used in bank financial modelling
  • Model design and structure for the case study bank
  • Know the key model outputs and their drivers and the requisite inputs
  • Developing cell styles for model transparency and review
  • Extracting, cleaning and normalising historical financial statements of a bank
  • Building error checks in the model
  • Forecasting a bank's financial statements
  • Forecasting regulatory tier 1 and tier 2 capital requirement for a bank
  • The model balancer of the bank's balance sheet
  • Analysing a bank's forecasted financial statements and performing ratio analysis
  • Bank valuation – discounted cash flows and trading comps
  • Calculating a bank's cost of equity and using the right CAPM inputs
  • Estimating terminal value – growth rate and multiple methods
  • Performing scenario and sensitivity analysis to DCF valuation outputs
  • Presenting the model outputs using high quality and flexible charts and creating a management dashboard

Why partner with 小蓝视频?

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Expert teaching

Our tutors are all subject matter experts, with real world experience, and teach small cohort groups of like minded learners.

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Practical learning

We provide practical training on Excel’s features and functions. Our learners go back into the workplace confident and ready to apply what they’ve learned.

25+ years

Over 25 years teaching Excel.

70+ of FTSE 100

72 of the top FTSE 100 companies have used 小蓝视频 for training.

Don’t just take our word for it

Speech marks

Great theory and descriptive hand-outs to support the different exercises. The instructor was amazing, so interactive and kept the audience engaged - only wished we had more time and more content to cover!

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