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Building Financial Models with Microsoft Excel: A Guide for Business Professionals [Hardcover]

K. Scott Proctor
1.0 out of 5 stars  See all reviews (1 customer review)
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Book Description

Oct. 4 2004 Wiley Finance (Book 269)
A comprehensive guide to building financial models
Building Financial Models with Microsoft Excel + CD-ROM provides beginning or intermediate level computer users with step-by-step instructions on building financial models using Microsoft Excel-the most popular spreadsheet program available. The accompanying CD-ROM contains Excel worksheets that track the course of the book and allow readers to build their own financial models. This comprehensive resource also covers important topics such as the concept of valuation, the concept of sensitivity analysis, the concepts of contribution margin and financial ratios and the basics of building and using a Capitalization Table.
K. Scott Proctor, CFA, is the Director of Investor Analytics at SNL Financial, a financial information provider.

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From the Inside Flap

A financial model is a quantitative representation of a company’s past, present, and future business operations. Companies of all types and sizes use financial models every day to analyze and plan their business activities. Financial models serve as the foundation and basis of standard financial accounting reports, including the balance sheet, the income statement, and the statement of cash flows.

While many business professionals are familiar with the "output" of financial models, namely consolidated financial statements, few are truly adept at building an accurate and effective financial model from the ground up. Building Financial Models with Microsoft Excel addresses this real, immediate, and significant issue like no other book. Written in a straightforward and accessible manner, it is a comprehensive resource for business professionals with a beginner or intermediate level of experience in both Microsoft Excel and finance or accounting.

Building a financial model is a logical, step-by-step process, where each component builds upon or feeds into another component. Building Financial Models with Microsoft Excel–organized to closely follow this process–is divided into three major parts and includes a companion CD-ROM, which contains sample Excel worksheets that allow you to follow the examples illustrated within the book or build your own financial models according to your specific situation.

Part One of Building Financial Models with Microsoft Excel introduces the concepts of budgets and financial models, and covers the steps involved in building the master budget –as well as its two key elements, the operating budget and financial budget. You’ll learn the fundamentals of the budgeting process and how various components of a master budget relate to one another. The master budget template provided in this part of the book serves as a road map for building each individual component of the financial model.

Part Two of this book deals with a company’s consolidated financial statements and free cash flows. It provides you with a guide to building these statements from scratch, based upon the operating and financial budgets of a company. The final part of Building Financial Models with Microsoft Excel–Part Three–deals with several important topics, including: various ways to analyze a financial model; the concept of valuation; and capitalization, or ownership, charts.

Filled with in-depth insights and easy-to-understand instructions, Building Financial Models with Microsoft Excel is a practical guide to understanding and creating fully functioning financial models.

From the Back Cover

Praise for Building Financial Models with Microsoft Excel

"Scott Proctor offers a comprehensive and easy-to-understand guide to constructing and using financial models; I recommend this book as a tutorial and a reference for business professionals, entrepreneurs, venture capitalists, and angel investors."
–Jack M. Gill, PhD, Vanguard Ventures

"This book is about making good decisions. . . . The modeling tools described in this book establish an analytical framework which adds much needed clarity to effective decision-making. This in-depth guide should well serve experienced professionals as a reference and business students and entrepreneurs as a tutorial."
–Eugene V. Fife, Retired Chairman, Goldman Sachs International

"Excel has become a critical element for decision-making in the modern business environment. Mr. Proctor’s book is a solid introduction to utilizing this complex tool."
–William Polk Carey, Chairman and Founder, W.P. Carey & Co. LLC

"Readable, comprehensive, and engaging–buy this book; study it; and thereby build your capacity to harness the computer in the solution of real-world business problems."
–Robert F. Bruner, Distinguished Professor of Business Administration and Executive Director of the Batten Institute, Darden Graduate Business School, University of Viginia

"Proctor provides a thoughtful and coherent link between financial/accounting theory and common Wall Street practice by addressing key questions in financial modeling like what to build, how to build, and how to analyze."
–Reid Nagle, Chairman and Founder, SNL Financial LC

"This book offers an excellent guide to building financial models. Proctor guides readers through the many interrelated steps involved in constructing and using financial models, a vital skill in today’s business world."
–Jeffrey Nuechterlein, Managing Partner, Isis Capital

"Building Financial Models with Microsoft Excel takes a complex but critical subject and presents it in a concise, easy-to-follow fashion. This book is an indispensable reference guide for anyone who needs to build or analyze financial models using Microsoft Excel."
–Michael R. Lincoln, Partner, Cooley Godward LLP

"A get-serious, get-gritty modeling enabler that is thoughtfully written and executed."
–Robert Albertson, Principal and Chief Strategist, Sandler O’Neill & Partners, LP

Inside This Book (Learn More)
First Sentence
The Cambridge Dictionary defines a budget as "a plan to show how much money a person or organization will earn and how much they will need or be able to spend." Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

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Most helpful customer reviews
5 of 5 people found the following review helpful
1.0 out of 5 stars Totally worthless Oct. 28 2006
I work with Excel on a daily basis, and I've yet to see a more stupid way of setting up a model. Basing a model on "named cells" does not allow for copying formulas across columns and rows, since it wipes out "the relative reference" ability that Excel is most useful for. I tried deleting the names too, but that wipes out the cells linking to the ones being renamed.

Basically, none of the models presented there are useful. Whoever built the CD rom must have spent days in a row if not weeks creating it, when everything could have been done in hours

For me this seems like a waste of money. All the other concepts presented in the book can be obtained from any Finance textbook. The value added should have been in the CD rom, but this one is worthless

I thought I'd let people know to spend your money wisely
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Most Helpful Customer Reviews on (beta) 3.3 out of 5 stars  10 reviews
62 of 65 people found the following review helpful
2.0 out of 5 stars Hardly a Guide for any Professional in Finance Sept. 27 2006
By S. Shaikh - Published on
Chances are that if you are even thinking about financial modeling you have at least a basic understanding of excel and accounting. If that is the case, this book will prove to be almost completely useless. The modeling examples used within the book are so simplistic that if you have had half a semester in an accounting class you will have a more indepth understanding than what the book provides. Financial valuation is almost non existant as is sensitivity analysis, with each getting a short token chapter. The use of excel is at such a beginner level that I feel as if I did more indepth work with excel attempting to figure out my student loan payments. I have read the book from front to back and feel as if it has provided me with no useful manner in which to conduct any sort of modeling other than in an imaginary world where companies only sell one product, have almost no expenses, collect all their recievables within the next pay period and other such ludicrious assumptions. In addition there are several errors in the examples provided in the book. These made me chuckle since anyone who could catch them would not need the book and anyone who actually needs the book for its rudimentary "guidance" would be left bewildered and confused as to why they got the answers wrong.
26 of 26 people found the following review helpful
4.0 out of 5 stars goes somewhat beyond introductory Excel March 18 2007
By W Boudville - Published on
The book has some merit to a reader new to Excel, and who wants something a bit more indepth than the Idiots or Dummy's books on Excel. Proctor gives examples that do more with the spreadsheets, and you get to appreciate what Excel can provide.

But, as other reviewers have cogently pointed out, the book really is not for business professionals, despite what the title says. An accountant or businessperson should already have more background on financial modelling with spreadsheets that the level provided here.
27 of 29 people found the following review helpful
1.0 out of 5 stars WAY too Basic for Most March 13 2007
By Joe Bruce - Published on
This work lacks substance for anyone remotely likely to have to do any real financial analysis. The examples are too simplistic to be of much practical value. If you have virtually no training or experience in Excel or accounting or finance then this book might be worth borrowing from a library to get you up to speed. If you have more than a week of experience in this area then it will sit on the shelf.
3 of 3 people found the following review helpful
4.0 out of 5 stars A good choice for Beginners Dec 16 2008
By Leonardo E. Nunes - Published on
The book is very well structured. Following the steps proposed it's possible to understand the whole process of developing a good budget and the main financial statements.
The book is more suitable for beginners, new entrepreuners and people who wants to get an overview on how to develop a budget and good financial statements using Excel.
1 of 1 people found the following review helpful
4.0 out of 5 stars Building Financial Models with Excel March 15 2011
By 777equity - Published on
Format:Hardcover|Verified Purchase
Very good structured book for finance industry employees and analytics, reasonably good examples of modelling with decent explanation.
Additionally Author gives away CD with all data and Q&A sheets for better knowledge retention. You go through the book with remarkable easyness and pleasure ;)
I highly recommend this book
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