Excel Checking Essentials For Financial Modeling

Find Excel Error Fast

What you'll learn

Understand how mistakes occur and how to prevent them in future

Learn the essential error checking tools built into Excel and how to use them

Learn about the risks of formulas containing hard codes and how to find them

Discover the 6 steps to checking a spreadsheet model

Requirements

Excel users with some experience in financial models

Description

This course provides an understanding of the tools and techniques required to carry out effective checks for errors in an Excel spreadsheet.The learning objectives of the program are:- Discover the 6 steps for checking a spreadsheet model- Understand how mistakes occur and how to prevent them in future- Learn the essential error checking tools built into Excel and how to use them- Learn about the risks of formulas containing hard codes and how to find themCourse OutlineIntroduction to Error Checking- The 6 Critical Steps to Reviewing a Financial ModelExcel Error Checking Functions- Excel "Go To Special" Function- Excel Show Formulas- Formula Auditing- Hard Codes- Unique FormulasThe Science of Making Errors- Why Mistakes Occur and How to Avoid Them- The Impact of Cognitive BiasBackgroundModels are created for different purposes. Examples include M&A, Valuation, Investment, Percentage Ownership.Is the model shared with other third parties? Are they counterparties to the transaction or are they supporting your analysis?The purpose will hint at the structure to be expected: Models may include competitor valuation and segmentation by industry or regions.Why does this matter?Understand built in biases, alerts you to assumption bias.Is it a relative value or absolute?Is it close to a target ownership percentage?Is it close to a loss – flipping from a positive to negative value has greater impact on perception?Is it close to a trigger point?The more model results deviate from management expectation the more scrutiny can be expected from the checking.

Overview

Section 1: Introduction

Lecture 1 Welcome

Lecture 2 6 Steps - Overview

Lecture 3 6 Steps - 1. Purpose

Lecture 4 6 Steps - 2. Structure

Lecture 5 6 Steps - 3. Assumptions

Lecture 6 6 Steps - 4. Calculations

Lecture 7 6 Steps - 5. Reports

Lecture 8 6 Steps - 6. Communication

Lecture 9 Excel Error Checking Tools - Go To Special

Lecture 10 Excel Error Checking Tools - Formula Auditing

Lecture 11 Excel Error Checking Tools - Circular References

Lecture 12 Formulas Containing Hard Codes

Lecture 13 Finding Unique Formulas

Lecture 14 The Science of Making Errors - Mistakes

Financial analysts and modelers who want to reduce the risk of errors