Predictive Modelling with Monte Carlo Simulations in Excel
A Monte Carlo simulation is a numerical method that uses random draws to perform calculations and complex problems. Contrary to what many people think, you don’t need programming knowledge or a fancy software to start using the power of Monte Carlo Simulations in your Excel models. Watch to see the Hybrid meetup replay of the Sydney financial Modelling meetup group with visiting Associate Professor of Finance, David Brown during his trip to Sydney. (more…)
If you’ve had any experience building financial models for others to use, you’re probably familiar with the ways users can use and misuse your model. In fact, one of the key sources of financial model error occurs when a model is not used for its intended purpose or users enter invalid inputs which cause incorrect calculations and inadvertent output error. 
It is well-documented that up to 90% of spreadsheets contain errors and although any individual mistake may be small, they can quickly add up. Checking for errors is an important part of the financial model build and there are many native Excel tools that can be used for this purpose. 
Excel today is not the Excel of yesterday. Dynamic Array Functions and Custom Data Types are just two of the relatively new must-know game-changing features. In this session, Microsoft trainer Mike Thomas gives us a tour of the most useful techniques, incorporating practical use cases that can help take your productivity in Excel to the next level.
At the recent Financial Modelling Summit, 
Best practice financial modelling in Excel has always been to enter your formulas in blocks. Enter a formula, then copy this across and possibly down also, making sure you have your absolute and relative references set correctly.
What’s the difference between a fractional, virtual or outsourced CFO? How much strategic planning, forecasting and financial modelling do they actually do, or are they just glorified bookkeepers over-charging at CFO rates? A good CFO will build forward-looking financial models to help businesses make better decisions but an external consultant marketing themselves as a fractional, virtual or outsourced CFO can simply manage day to day cashflow, month end and process payroll, receivables and payables, so misrepresenting and devaluing the role of the CFO. 
The best way to get people to pay attention to your models and reports is to present them professionally by changing the standard Microsoft settings and applying tasteful colours, borders and fonts. Formatting, however, is notoriously time consuming and it’s sometimes overlooked by the busy modeller. In this virtual meetup, we look at some quick and easy ways to use standard Excel for Microsoft 365 features to make your models look fabulous! 
