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Financial Forecasting: Building Models and Advanced Formatting

Learn how to develop a financial forecast model, use advanced formatting techniques, and protect worksheets. Explore scenarios, data validation, templates, and more.

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Financial Forecasting: Building Models and Advanced Formatting

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  1. Chapter 6 Financial Forecast

  2. Agenda • Developing a financial forecast model • Advanced formatting • Using the scenario manager to facilitate decision-making • Shared workbook • Tracking the spreadsheet editing changes • Using the Formula Auditing toolbar • Inserting comment • Data validation • Creating template • Protecting worksheet • Function

  3. Forecasting Model • Separating assumptions and initial conditions • Initial conditions: expected values for the first period of the forecast • Assumptions: initial conditions plus assumptions about the rate of change • Including the initial conditions and assumptions in the formulas for the forecasting model

  4. Building the Forecast Model • Starting with initial conditions for the first period • Creating the formulas for the second period • Starting with the values for the first period • Adding in the change between the periods • First period * expected rate of change (1+the change rate) • Using absolute and relative references • Copying the formulas for the second period to the remainder of the forecast

  5. Advanced Formatting • Rotating text to give headings a vertical orientation (format menu, cells, alignment, degree text box) • Use merge and center to center the heading (format menu, cells, alignment, merge cells; or merge and center button on the format bar) • Indenting text for main headings and subheadings • Using conditional formatting • Apply formatting to a cell based on its value • Format menu, conditional formatting

  6. Creating a Style • Style: a set of formatting characteristics under a specific name • Displaying the style list button on the formatting toolbar: tools menu, customize, command tab, format category, clicking and dragging the style list box to the formatting toolbar • Creating a style: formatting the cell, format menu, style, entering the name for the style • Applying styles: selecting the cell, selecting the style name from style list button • Deleting a style: format menu, style, delete • Changes to a style automatically affect all cells defined by that style

  7. Scenario Manager • Scenarios (sets of assumptions such as optimistic, pessimistic, and likely ) • Creating scenarios • Creating range name: selecting cell, insert menu, name, define, entering the name for the range • Selecting the cell, entering the first name for the scenarios • Tools menu, scenarios, entering the first name for the scenarios, entering the cells to changes in the changing cells text box, ok, add (to add the second scenarios) • Deleting scenarios • Tools menu, scenarios, selecting the scenarios name, delete • Scenario summary compares results of different scenarios side-by-side • Clicking the cell for comparison, tools menu, scenarios, summary, entering the cell for comparison in the result cells text box, ok

  8. Workgroups and Sharing Files • Workgroup: a group of people working on a project • Shared workbook: making comments or changes by other members • Tools menu, shared workbook, edit tab, checking allow changes

  9. Tracking Changes • Tracing changes: using reviewing toolbar or track changes command of tools menu • Tools menu, customize, toolbars tab, checking reviewing • Tools menu, track changes, clicking highlight changes, entering options, checking the highlight changes on screen • Accepting or rejecting the changes • Tools menu, shared workbook, advanced tab, checking ask me which changes win, ok • Tools menu, track changes, accept or reject changes

  10. Auditing the Worksheet • Formula auditing toolbar: showing the graphical relationships in formulas • Tools menu, customize, toolbars tab, checking formula auditing • Identifies precedents and dependents • Precedents: cells referenced by a formula • Dependents: formulas that reference a cell

  11. Inserting Comment • User comments written in the shared workbook • Selecting the cell, insert menu, comment • New comment button in the reviewing toolbar • Red triangle in the upper-right corner • Tools menu, options, view tab, checking comment indicator only • Deleting comment • Selecting the cell, right clicking, delete comment • Delete comment button in the reviewing toolbar

  12. Data Validation • Data validation restricting entering values for a cell • Useful in shared workbooks • Data menu, validation, error alert tab, entering necessary values • Be sure un-checking the track changes while editing related to the track changes in tools menu)

  13. Templates • A special type of workbook • Used as the basis for other workbooks • Containing formulas and formatting, but no data • Creating template • Select the assumption area • Edit menu, clear, contents • Format menu, cells, protection tab, deselect locked check (unlock the changing cells) • Tools menu, protection, protect worksheet • Tools menu, options, view tab, clearing zero values, ok • Save the file as a template type

  14. Protecting Worksheet • A two-part process • Unlock all of the cells for the user input or change • Select cells for allowing changes, format menu, cells, protection tab, clearing the locked box • Protect the worksheet • Tools menu, protection, protect worksheet, checking select locked cells, checking select unlocked cells

  15. Functions • AND • Return True or False • =AMD(A1>0,A2>0,A3>0) • DATE(YEAR, MONTH, DAY) • Return numeric day, month, and year • =MONTH(A1) • MATCH • Actual number of payments (the relative position of a number in a array) • Three arguments: looking up value (a zero ending balance); associated cell range (cells containing the balance at the end of each period), and type of match (whether or not it is an exact match) • Type 1 for the relative position this is greater or equal to; type 0 is the relative position that is equal to; type -1 is the relative position that is smaller or equal to • INDEX • Determine the payoff date using the result of the match function (the corresponding value of a cell) • Three arguments: cell range in the form of a table (all potential payments), a row number within the table (value returned by the MATCH function), a column number within the table (contains the date of payment)

  16. Points to Remember • Developing a financial forecast model • Advanced formatting • Using the scenario manager to facilitate decision-making • Shared workbook • Tracking the spreadsheet editing changes • Using the Formula Auditing toolbar • Inserting comment • Data validation • Creating template • Protecting worksheet • Function

  17. Assignment • Exercises 5, 6, 11, and 12 • Due date

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