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Circular References
Financial Modelling Principles
General Interest
Technical
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On Excel Calculation Methods
Do you know which calculation method your models are running on? -
Five Puzzles in Project Finance Models
Here are five areas of project finance models which always puzzle me: -
How to be an Efficient Financial Modeller: Consign your Mouse to the Bin
Musicians know that the way forward is to practise their scales. It’s just the same with shortcuts in financial modelling. -
What is Wrong With the IF Function?
To paraphrase George Orwell, never use a long formula when a short one will do. -
Why Does Timing Matter in Financial Models?
Because incorrect timing assumptions are the cause of many a financial modelling error. -
Modelling Inflation
Inflation rates in many countries have not been as high as they are today for many years. Problems indeed for companies and policy makers. But what about for financial modellers? -
Please Join In: The Circular Reference Survey
Intrigued about circular references and why some modellers might include them? Or why some models are switched to iteration? Or why some models include copy paste iterative macros? I am. -
Do You Really Need Macros to Size Debt?
In my attempt to rid financial models of copy paste iterative macros, probably the biggest resistance I come across is on the subject of debt sizing, especially when sculpting is ... -
The Essentials of Financial Modelling – a Pocket-sized Book
I am really happy to announce that I have produced a pocket-sized book, The Essentials of Financial Modelling. It is designed for financial modellers to have by their desks for ... -
Stress Testing
Many financial models will be being stress tested right now, with assumptions being included which no one ever dreamt of. -
Naming Cells
Here are some of the ways in which names can be used in Excel: -
Balancing Balance Sheets
I wonder what percentage of a financial modeller’s time is used trying to balance Balance Sheets? Here are some tips which will hopefully speed up this process: -
Top Ten Quick Model Checks
Here are the top ten checks I would recommend if you receive a financial model and need to get an initial feel for it, without doing a complete review: -
On NPVs and IRRs
What are Net Present Values (NPVs) and Internal Rates of Return (IRRs)? Rather than reaching for complicated definitions, I prefer to explain them in terms of a loan schedule or ... -
Shortcuts
Here’s a link to a pdf file with the useful Excel shortcuts. Please use them, they make modelling far more efficient. Useful Shortcut Keys -
Three Logical Ratio Checks
I enjoy teaching ratios and results on my financial modelling courses almost as much as trying to trap participants into making circular references. -
Circular References: The Facts
Circular references are the biggest challenge in financial modelling. Here’s a summary of the different types and common ways of dealing with them. -
Avoiding Black Boxes #3: Functions Part 2
My mission is to demystify financial models. Models should never be black boxes: they are simply made up of many layers, which themselves must always be clear and logical. Poor ... -
Avoiding Black Boxes #3: Functions Part 1
My mission is to demystify financial models. Models should never be black boxes: they are simply made up of many layers, which themselves must always be clear and logical. Poor ... -
Avoiding Black Boxes #2: Model Layout
My mission is to demystify financial models. Models should never be black boxes: they are simply made up of many layers, which themselves must always be clear and logical. Good ...