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Excel Forecasting and Valuation Modelling for Chartered Accountants

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We have partnered with Chartered Accountants Australia and New Zealand to bring to you this two day course that will help you quickly progress from simply working with spreadsheets to fully mastering the principles and benefits of financial modelling and focused analysis. You will learn how to decrease risk in your use of Excel and financial models and be able to confidently repair models that are broken.

Pre-requisite knowledge

Those wanting to attend this course should be comfortable with the Excel functions and features listed below as well as keyboard shortcuts for speed and efficiency. These are covered in our Excel Diploma for Chartered Accountants course.

Functions

  • Essential calculation functions – SUM, AVERAGE, COUNT
  • Date calculations – EOMONTH, EDATE, YEAR, MONTH, DATE
  • Logical statements – IF, AND, OR
  • Lookup functions – LOOKUP, INDEX and MATCH
  • Advanced data functions – SUMIF, SUMPRODUCT

Features

  • Data tables
  • Conditional formatting
  • Data validation
  • Named ranges
  • Styles

Laptop set-up: Please note you are required to bring your own laptop, power cord and external mouse to this course. We strongly recommend using a PC over a Mac due to the difference in shortcuts, however if you are confident using a Mac then this will be fine.

To view the course outline, expand the link below.

Course outline

Day one

Apply proven techniques for best practice valuation modelling

  • Learn to work with the powerful and easy to follow SMART best practice modelling methodology
  • Discuss and identify good vs. bad modelling techniques using real-life examples
  • Greatly increase consistency amongst your team in calculation technique and presentation

Develop key theoretical concepts and build modules to free cash flow to firm and equity

  • Distinguish between cashflow to firm and equity and discuss the importance for valuation analysis
  • Build best practice models of a target company including:
    • Model architecture and assumptions
    • Calculations; revenue, COGS, OpEx, debt

Extend your knowledge of forecasting techniques for powerful analysis

  • Learn about moving average and linear regression forecasting
  • Investigate the often significant role of escalation in forecasted cashflows; nominal vs. real
  • Explore the role of synergies and their potential impact on forecasted cashflows

Improve your modelling with realistic cashflow impact of working capital and related matters

  • Learn how to build working capital into existing models without changing the structure
  • Understand the impact of working capital on the cashflow
  • Discuss common errors in modelling working capital and ways to model around them

Day two

Finalise financial statements to make a fully integrated three-way model

  • Add capital programme and construct best practice depreciation calculations
  • Complete P&L statement and build balance sheet and cashflow waterfall
  • Explore balance sheet or net asset position and its role in valuation assessment

Learn key techniques for terminal value analysis in a valuation context

  • Understand why terminal value isn’t appropriate in some valuation models
  • Learn how different factors affect the impact of terminal value on a valuation
  • Calculate terminal value using both perpetual growth model and other methods

Complete a best practice discounted cashflow (DCF) valuation

  • Discuss NPV and IRR, understand from first principals and apply XNPV and XIRR functionality
  • Identify significant errors regularly made in the use and structuring of Excel functions for NPV and IRR
  • Integrate a dividend policy and restrictions into model and understand impact on valuation

Build cross-reference valuation techniques to benchmark your discounted cashflow (DCF) analysis

  • Learn the pros and cons of using any single valuation technique
  • Compare DCF valuation outputs with EBITDA and transaction multiples
  • Review valuation reports to understand how final valuation range is determined

Integrate a powerful scenario manager and enable informed decision making with tornado charts

  • Save critical time and deliver rapid analysis using our approach to scenario management
  • Transform scenarios into yet another way to test the model in all scenarios
  • Build confidence in your analysis through pre-programmed combinations of model inputs
  • Develop tornado charts for efficient sensitivity analysis

schedule

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