Last week Danielle Stein Fairhurst was interviewed by John Michaloudis for his very popular MyExcelOnline Podcast. During the interview they chat about what it means to be a financial modeller, Danielle's upcoming book "Financial Modeling in Excel for Dummies", ModelOff Financial Modelling Championships, and online training.
Here are some things mentioned in the podcast:
Happy Halloween! I have been meaning to write about phantom links for a while, and Halloween is a good time to talk about hunting down and exorcise this ghoulishly annoying phenomenon from your financial models.
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We know that a well-designed financial model contains in-built, automatically calculating error checks and a good financial modeller is always looking for opportunities to build error checks into their model.
Join financial modeller, Danielle Stein Fairhurst for this free live webinar filled with practical tips and tricks for creating simple as well as more complex error checks in your everyday financial models.
Throughout the webinar we cover:
I am very excited to announce that I've just signed with my existing publisher, Wiley to start work on a new book Financial Modeling in Excel For Dummies. Yes, that's not how I normally spell "modelling" I know, but they tell me a large part of the world spells it that way. And apparently that's a pretty big market :)
This month our subscriber numbers have just hit 10,000, (wow!) and in this edition, it's all about webinars! We've got several great webinars you can register for, and learn with, all from the comfort of your home or office. (And don't forget you can always use them towards your CPD). It's mid-winter here in Sydney and I must say, I'm enjoying the opportunity to stay snug and warm in my home office and I've even been keeping my ugg boots on (shhh!).
Nothing conveys complex information more quickly and effectively than a well-built and visually appealing infographic. They are designed to entertain as well as inform, and the popularity of the infographic in social media has made them an effective way to distill complex information and draw attention to issues that may have otherwise been overlooked.
One of the most frustrating things about using other peoples' spreadsheets is that there is no obvious architecture or roadmap. How do you "drive" it and how does the logic get us from A to B?
One of my favourite scenes from The Office is when Michael's accountant tries to explain to him the concept of the budget surplus and why they needed to spend it before the end of the day.
I was only kidding. One of them IS Power Query. Seeing as Power Query is one of the best things to happen to Excel data analysis since the invention of the …. PivotTable, how could I possibly write about splitting data without mentioning Power Query? Note that Power Query is now confusingly called Get and Transform in Excel 2016 but I’m going to stick with the name Power Query - for now.
Guest post by Lance Rubin
Have you noticed lately how many finance roles have “financial modelling” listed as a core skill? Financial modelling is now one of the most sought after skills in today’s corporate world and demand for financial modelling experience continues to outstrip supply! The changes we see in our everyday lives are reflected in the corporate world and the finance industry is no exception.
Danielle Stein Fairhurst recently ran a new webinar which was streamed live from Dubai for Informa Middle East. The recording is now available.
As a diligent analyst once you’ve completed your analysis of your business or financial information, presenting the output into a compelling and engaging presentation is often a more difficult task than it appears. Learn to develop presentations to persuade executives of the strategic implications of the analytical outputs of your work.
My love of Financial Modelling and Excel is always leading me to new and exciting places. I just returned from Perth yesterday where I presented the one-day Data Analysis & Dashboards as a closed private in-house workshop. Next week I'm also looking forward to travelling and presenting at the PASS conference in San Jose, California for a couple of days.
We recently held a Meetup for the Brisbane Modellers' Meetup group and I'm pleased to say that the video is now available below. The speaker Eris O'Brien is a highly experienced modeller and at this informative presentation he took a look at the basics of incremental cash flows for both new, standalone projects, and for projects at existing sites, to see if we can isolate the incremental effects, or
The recording & transcript of our first Plum Webinar is now available! This hour-long webinar was free to attend and during Part One of this webinar, online trainer, Danielle Stein Fairhurst led us on a short technical demonstration of how to create scenarios using plain Excel without any add-ins or other software.
Automating repetitive tasks with Excel Macros can dramatically cut down the time you spend building financial models, and can significantly increase your productivity. A well-written (or recorded) macro enables you to repeat operations that you would normally do by hand but much more quickly and reliably. If you find yourself repeating the same action over and over again whilst building or editing your models then the use of VBA can increase speed and accuracy.
When you decide your financial models are not as good as they should be, should you immediately send your team on an advanced Excel training course? Whilst this is certainly helpful, there's a great deal more to financial modelling than being good at Excel!
No, it's not a silly question and since the "Modern Excel" was introduced in 2010, the changes have been pretty subtle and it can be a little difficult to tell the difference.
Ask a room of art critics their understanding of what an art work means and they will all have a different opinion. The design and interpretation of a financial model is the same. We all have different perspectives and biases that will lead us in sometimes opposing directions, and this does affect how we approach our work.
There are a few rules for model design that should be followed when designing the layout of a model. Most experienced modellers will follow these instinctively, as they are generally common sense.
Extract from Using Excel for Business Analysis, Chapter Two