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Financial Modelling Master – Advanced Diploma in Financial Modelling using Excel and VBA

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Course Overview

The ability to create and understand financial models is one of the most valued skills in business and finance today. Microsoft Excel with Visual Basic for Application (VBA) macros programming has been the dominant vehicle used by finance and corporate professionals in the preparation and utilization of the full range of financial models and other applications. However, as a result of the so called ‘95/5’ rule it can be concluded that 95% of Excel users probably only use a mere 5% of the program’s power. Most users know that they could be getting more out of Excel especially by using VBA which would result in them being able to build more flexible, dynamic and professional models. Unfortunately, this aspect of Excel and VBA often appears to be complex and intimidating. This intensive 5 day workshop starts with basics and progresses in a logical step by step manner to the more complex and rewarding tools needed to build more robust models that save time, reduce unnecessary human errors and customize applications that would be impossible to achieve with suboptimal models. Every section is followed by a direct application related to the financial markets and financial issues. The course will emphasize some important financial concepts that will assist in building vigorous models. It is designed to give you the information you need without making you wade through cumbersome explanations and endless technical background. Delegates will need some basic knowledge of Excel but not of professional modelling or programming.

Key Takeaways

Learners will be able to Develop a thorough mastery of excel and VBA software(s) for financial modelling purposes.
Learners will be able to apply the needed tools to build models that are less time and effort consuming.
Learners will be able to apply the best practices in modelling forecasted financial statements (Balance Sheet, Income Statement and Cash Flow Statement.
Learners will implement over 1 million rows of data in seconds with Power Pivot Data Mashup and Data Exploration.
Learners will construct the way how to get from the basics of VBA to building a loan amortization table using a VBA macro.

American National Standards Institute
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Marking 100 years of experience, ANSI is the official U.S. representative to the International Organization for Standardization (ISO) and, via the U.S. National Committee, the International Electrotechnical Commission (IEC), and is a U.S. representative to the International Accreditation Forum (IAF). ANSI accreditation is nationally and internationally recognized as a mark of quality and assures that employers can have confidence that the certificate holder has completed the prescribed course of study. ANSI’s accreditation process itself follows ISO/IEC 17011, the International Standard that defines quality third-party accreditation practices. ANSI’s Certificate Accreditation Program (ANSI-CAP) accredits assessment–based education and training programs against the American National Standard ASTM E2659. The standard establishes guidelines for quality certificate program development and administration, and forms the foundation for a recognition system that enables consumers, employers, government agencies, and others to distinguish between qualified workers and those with less-than-quality credentials.

Course Outline

Day 1
Design principles for good model building
Principle of Occam’s razor Interrelationships within a model Logical arrangement of the parts Setting toggles Model design and structure Attributes of good Excel models
Exploring Excel functions
Financial Date and time Statistical Lookup & reference Database Text Logical Information
Helpful starting hints
Formula errors vs user errors Warning signs Using the F-Keys and combinations of F-Keys. Name ranges using Create Names Making range names more informative Editing name ranges Data validation The Analysis ToolPak Using formula auditing
The 40 functions you will work with as a financial modeler
Basic, intermediate and advanced functions Arguments in advanced functions Dealing with errors Boolean logic Change nested IF’s to something powerful Array formulas Using array formulas with the offset function Calculating geometric return using arrays Annualizing geometric returns The power and manipulation of looking up data Powering the offset with the match function and drop down menus Combining the Index function with the match function Strengthening the If function with (Min, Max, Choose, Offset, And, Or functions) Conditional addition and counting functions Manipulating date functions in complex examples When to use DAYS360 in a model Solving problems with DAYS360 Working with parts of numbers Working with numbers in a direction Using the IS-suit (isnumber, istext, isblank, iserror, iserr, islogical, isna, isnontext, isref) with logical formulas Going through a spreadsheet that contains worked examples of all 40 functions
Day 2
Financial functions
Understanding net present value Understanding internal rate of return Going through a worked example of a project cash flow Problems with the IRR calculation Multiple IRR Shooting yourself in the foot with incorrect assumptions NPV XNPV IRR MIRR XIRR
Modeling forecasted financial statements
Forecasting guidelines Modelling the connection between the income statement and the Balance Sheet Assumptions margin Two ways to balance the balance sheet Using plugs to balance the balance sheet Surplus funds and the necessity to finance Modelling the provision for taxes Static vs dynamic analysis Effect of surplus income from surplus funds Flows in the Cash Flow Statement (Operations, Investment, Financing) Structuring a cash sweep Modelling payment of successive debt tranches Calculation of the post-sweep debt numbers Cash flow variation for cash sweep Reality checks Adding an error trapping formula Using conditional formatting Finding cells that have conditional formats Structuring the input sheet vs output sheets Modelling common size statements Smoothing techniques in forecasting Simple and multiple regression analysis Sensitivity analysis in forecasting
Modeling Ratio Analysis and Key Performance Indicators
Efficiency ratios Profitability ratios Leverage ratios Coverage ratios

Who Should Attend?

This highly practical and interactive course has been specifically designed for
Financial Analysts
Chief Executive Officers
Chief Financial Officers
Portfolio managers
Corporate accountants
Credit analysts
Private equity managers
Venture capitalists
Corporate finance analysts
Risk managers
Board members
Investment bankers
Financial government officials
Strategic planners
Compliance officers
Management consultants
Bank lending officers
Internal auditors
Management consultants
Corporate Finance lawyers


What language will the course be taught in and what level of English do I need to take part in an LEORON training program?
Most of our public courses are delivered in English language. You need to be proficient in English to be able to fully participate in the workshop and network with other delegates. For in-house courses we have the capability to train in Arabic, Dutch, German and Portuguese.
Are LEORON Public courses certified by an official body/organization?
LEORON Institute partners with 20+ international bodies and associations.We also award continuing professional development credits (CPE/PDUs) for:1. NASBA (National Association of State Boards of Accountancy) 2. Project Management Institute PDUs 3. CISI credits 4. GARP credits 5. HRCI recertification credits 6. SHRM recertification credits
What is the deadline for registering to a public course?
The deadline to register for a public course is 14 days before the course starts. Kindly note that occasionally we do accept late registrations as well, but this needs to be confirmed with the project manager of the training program or with our registration desk that can be reached at +1071 4 1075 5711 or [email protected]
What does the course fee cover?
The course fee covers a premium training experience in a 5-star hotel, learning materials, lunches & refreshments, and for some courses, the certification fee and membership with the accrediting bodies.
Does LEORON give discounts?
Yes, we can provide discounts for group bookings. If you would like to discuss a discount on a corporate level, we will be happy to talk to you.


  • Review:
    The CFM course exceeded my expectations. The instructor, Mr. Hamed, utilized every minute in the course. He is a world-class trainer and made a complex subject very interesting and understandable. My learning curve in Macro & VBA accelerated sharply during the course. I would definitely recommend Mr. Hamed and LEORON for financial modeling courses. -Saudi Venture Capital Investment Company, Kingdom of Saudi Arabia
    Muaath Altukhaifi
    Financial Analyst
  • Review:
    Without doubt this has been one of the most beneficial courses that I have ever attended, thanks for the very efficient and knowledgeable instructor as well as for the most fitting and impeccable arrangements by the team. -Sahara Petrochemicals Company
    Shahul Hameed Ayub
    Finance Manager
  • Review:
    Extremely Intensive course, led by a fantastic dynamic trainer. From Day 1, I was very excited about the course. By Day 5, I was totally blown out by the tremendous possibilities now open to me by using all the functionalities of the Macros/VBA/Power Pivot. A definitely MUST HAVE for all financial experts. -Rogers Aviation, Maputo
    Claudinette Permal
    Finance and Admin Manager
  • Review:
    Great course!!! The whole course was broken down in different chapters and this was structured in very digestible segments. Further, the mix of presented material with hands-on practical hit on all of the key areas. I can take what I learned and start applying it directly to my current tasks. Hamed presented the material with an expert knowledge of the concepts and backed it up with consulting experiences. His technical expertise in the area was reflected in all areas of the course and it was done very professionally. He made a point not only to share theoretical understanding but highlighted both features right & wrong with detailed explaining how to use them in building successful models. Tons of time saved. Complicate things made easy. Thanks, Hamed Great job -Alghanim Kuwait
    Reyaz Hussain
    Senior Analyst – Group Support
  • Review:
    I use Excel regularly, but the CFM training has exposed me to many more tools in excel, as well as skills in building dynamic models, and detailed financial analysis. This has been made possible by the in-depth knowledge and skills of Hamed, and his hands-on practical approach to the training. -Accra, Ghana
    Noah Teye
    Credit Analyst