Modern Financial Modeling

Your Roadmap to Successful Financial Modeling
An intense, interactive two-day workshop illustrating dynamic techniques to build and use financial models in Excel™ spreadsheets A combination of Excel™ modeling techniques and applications focusing on: Constructing Powerful and Easy to Use Financial Models—The Latest Techniques Financial Analysis, Including Present/Future Value and Rate of Return Analysis Incorporating Dynamic Modeling Sensitivity Tools for Robust Results Analysis Analyzing and Estimating the Company’s Cost of Capital and Discount Rate Modeling for Economic Value Added Analysis Decisions Statistical Analysis Models for Forecasting and Cost Prediction, Including Regression Monte Carlo Simulation in Financial Models, Including Real Options Analysis Valuing Stock Options: Black-Scholes and the Binomial Option Models Valuing the M&A Candidate: Business Valuation Modeling Principles Modeling Investment Projects: Discounted Cash Flow and Non-Discounted Techniques Powerful Lease Analysis Models, Including FASB 13 on a Spreadsheet Advanced Excel™ Tips and Techniques for Effective Models Preview Excel™ 2007 A state-of-the-art workshop designed for accounting and financial professionals including: CFOs, Controllers, Treasurers and Accounting Staff Mergers and Acquisitions Specialists; Valuation Analysts Budget Directors, Managers, Analysts and their Staff Financial Directors, Managers, Analysts and their Staff Operations Analysts and Business Development Directors Financial and Corporate Planners; Strategic Planning Managers
Seminar Agenda
Financial Modeling Principals	Designing the Financial Model: Critical Considerations and 5 Keys to Success Modeling Financial Problems in Excel™: Using the Insert FunctionCommand Testing Formulas with Formula Audit
Financial Functions and Time Value of Money Considerations	The Meaning of Present Value Breaking down the Discount Rate The Impact of Inflation, Cash Flow Timing and Compounding Frequency Critical Excel™ Financial Functions PV and FV Rate and Payment NPER and FV Schedule IPMT, CUMIPMT, PPMT
Modeling Tools	Recording and Using Macros with Excel™ Creating a Custom Toolbar in Excel™ Adding Macros to the Toolbar Creating and Using Custom Excel™ Functions Creating Powerful Charts and Graphs Using the Random Number Functions Protecting Financial Spreadsheets
Sensitivity Analysis in Financial Models	Goal Seek Data Tables: 1 and 2 Variables Scenario Manager Spinners and Scroll Bars Option Buttons List Box Using Macros for Sensitivity Analysis
Optimization with Excel™’s Solver	Adding Solver to Excel™ How to Use Solver: Examples Resource Constraints Capital Budgeting Portfolio Optimization Breakeven Analysis The Economic Order Quantity Inventory Model Scheduling and Transportation
Monte Carlo Simulation Analysis	Defining Monte Carlo Simulation Probability Distributions Crystal Ball: An Application New Venture Analysis
Financial Forecasting	Summarizing Data with Descriptive Statistics Analyzing Data with Correlation Analysis Trend Line Analysis Exponential Growth and the Power Curve Modeling Nonlinear Relationships Application: Cost Prediction Using Regression Analysis—Simple and Multivariate Using Excel™’s Forecast Function Estimating a Demand Curve Nonlinear Price Analysis
Modeling Cost of Capital	Cost of Capital Overview Estimating the Cost of Capital Capital Asset Pricing Model Estimating the Beta Coefficient Levered and Unlevered Beta Basic and Expanded CAPM Build-Up Model Calculating the Weighted-Average Cost of Capital (WACC) Evaluating Performance: Modeling the EVA Calculation
Modeling the Project Investment Decision	Critical Steps in the Capital Budgeting Process Evaluating the Project’s Opportunity Cost of Capital Mid-Period Discounting Project Evaluation Approaches Non-Discounted Cash Flow Measures Payback Period Return on Investment Discounted Cash Flow Analysis Discounted Payback Period NPV and IRR Using Excel™ Resolving Conflicts: NPV vs. IRR Profitability Index Equivalent Annual Annuity Reinvestment Rate Assumptions Advanced Excel™ Financial Analysis XNPV, XIRR and MIRR Multiple Project IRRS
Valuation for M&A Analysis	Designing Valuation Models: Key Considerations The Income Approach: Discounting vs. Capitalizing Discounted Cash Flow Approach Using the Market Apporach CASE STUDY: Acquisition Candidate
Lease Analysis Models	Asset Leasing: An Overview Key Considerations in Lease Analysis FASB 13: Capital Lease Analysis Lease vs. Purchase: A Case Study Using Excel™’s Spreadsheet Tools
Stock Option Pricing Models	Option Pricing: An Overview FASB’s Latest Requirements Modeling Stock Option Values Black-Scholes Model Binomial Model CASE STUDY: AVG Systems, Inc. Critical Assumptions in Option Pricing Models—Testing the Volatility Estimate
Other Excel™ Functions	Vlookup and Hlookup IF and SUMIF Index and Match SUMPRODUCT OFFSET and INDIRECT Conditional Formatting Frequency, Var and Varp Stdev and Stdevp Linest and Large Rank, Percentile and Percent Rank
Excel™ 2007 Tips, Tricks, Hints	Auto Fill Updating graph titles Hiding cells Protecting formulas and the worksheet Using multiline cells Naming cells and cell ranges Creating custom Excel™ functions for specialized applications Auditing Excel™ formulas Conditional formatting in Excel™ Configuring Excel™ spreadsheets for maximum efficiency, including worksheet splits and extra windows Setting Excel™ options for ease of use Creating custom templates Formatting cells and ranges Adding charts, graphics and drawings to worksheets Understanding Excel™ functions Understanding range names and arrays Analyzing data with Pivot Tables and Pivot Charts Creating and editing scenarios with Scenario Managers and merge scenarios within a single worksheet Working with cell comments, text boxes and other documentation aids Using Excel™’s web capabilities, including XML
CPE Credits
This seminar is recommended for 16 hours of Specialized Knowledge & Applications CPE credit. The National Center for Continuing Education is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Visit the NASBA web site at www.nasba.org.
Who Should Attend?
This seminar is ideal for accounting, business and financial professionals who want to master both professional modeling techniques and state-of-the-art computer tools specifically designed to make financial modeling quick and easy. Included in the group are: CFOs, Treasurers, Controllers and accounting staff Financial Directors, Managers, Analysts and their staff Valuation Professionals Mergers & Acquisitions Specialists Financial and Corporate Planners; Strategic Planning Managers Budget Directors, Managers and Analysts Business Development Directors This seminar is ideal for financial professionals who need to clearly understand the new stock option expensing requirements and compare the Black-Scholes Option Pricing Model to the Binomial Option Pricing Model.
Seminar Prerequisites
Course Level: Intermediate. Prerequisites: Basic knowledge of financial analysis and Excel™.
Instructors
Bruce Clements, CPA, Ph.D., JD, MBA
In-house Presentations
If you have a group of 14 or more employees who need to learn the proper, professional way to design financial models, NCCE’s customized training is the cost-effective solution for your organization. Bring Modern Financial Modeling in-house and ensure that your staff possesses all of the technical modeling skills necessary to give your company an edge in today’s competitive market. Some of the organizations who have taken advantage of NCCE’s custom training include Stanley Tools; Harley Davidson; General Mills; US Small Business Administration; Aetna; Western Union and law firms such as Jones, Day, Reavis & Pogue; Weil, Gotshal & Manges; and King and Spalding. For more information or to schedule a custom in-house program, email NCCE at contact@nccetraining.com or telephone 800-635-9615. Back to top
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