Financial Modelling with Excel
This 2 day practical course is designed to equip the delegates with a sound financial modelling skills and techniques to prepare and forecast financial statements needed in a modern corporate world. You will gain a firm understanding of the modelling process and financial ratios analysis.
The course is run in a very small group allowing for a direct interaction with the trainer throughout the whole course and each session is concluded with a practical model building exercise.
By the end of this course you will be able to:
Prerequisites: Basic/intermediate knowledge of accounting
What Will You Learn
Main Topics Covered During This Training
Who Should Attend
Participants who want or need to be able to build a sound financial models should attend this course.
Financial Modelling and Forecasting - A Two Day Course
- Modelling process overview
- Modelling and formatting best practice
- The key Excel functions used in modelling
- Model structure:inputs, workings, outputs
- Connections between income statement, balance sheet and cash flow statement
- Sources of information
- Inputting historical financials
Model building: Participants are introduced to a forecasting model and a set of historical accounts.
Forecasting the income statement
- Key drivers for modelling
- Operating costs
- Using equity research to model – pluses and minuses
- Segment analysis
- Forecasting fixed tangible and intangible assets
- Discussion of key drivers of capital expenditure and depreciation
- Forecasting depreciation, existing and new assets
- Forecasting components of non-cash working capital
Model building: Analysis and forecast of capital expenditure, depreciation, fixed assets and non-cash working capital
- Forecasting net income
- Dividend policy and retained earnings
- Forecasting shareholders’ equity
- Cash flow from operations, what happens if cash is working capital?
- Cash flow from investing activities
- Cash flow from financing activities
- Modelling the cash waterfall
- Scenario capital structures
- Interest calculation
Model building: Participants complete the cash flow statement and balance the balance sheet by using a cash waterfall. Participants complete the model using the forecast interest line and flex the model for different capital structures
More complex issues
- Taxation, including net operating losses
- Provisions (restructuring, environmental, deferred taxation), effects on income statement and cash flow
- Associates, treatment and forecasting
- Non controlling interests (“NCI”)s, treatment and forecasting
- Assessing the company’s operating performance and credit quality
- Use of ratios in evaluating forecasts, using DuPont analysis in forecasting
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