Principles of Financial Modelli - Michael Rees.pdf

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Table of Contents
Cover
Title Page
Preface
About the Author
About the Website
PART One: Introduction to Modelling, Core Themes and Best Practices
CHAPTER 1: Models of Models
INTRODUCTION
CONTEXT AND OBJECTIVES
THE STAGES OF MODELLING
BACKWARD THINKING AND FORWARD CALCULATION PROCESSES
CHAPTER 2: Using Models in Decision Support
INTRODUCTION
BENEFITS OF USING MODELS
CHALLENGES IN USING MODELS
CHAPTER 3: Core Competencies and Best Practices: Meta-themes
INTRODUCTION
KEY THEMES
PART Two: Model Design and Planning
CHAPTER 4: Defining Sensitivity and Flexibility Requirements
INTRODUCTION
KEY ISSUES FOR CONSIDERATION
CHAPTER 5: Database Versus Formulae-driven Approaches
INTRODUCTION
KEY ISSUES FOR CONSIDERATION
PRACTICAL EXAMPLE
CHAPTER 6: Designing the Workbook Structure
INTRODUCTION
GENERIC BEST PRACTICE STRUCTURES
USING INFORMATION FROM MULTIPLE WORKSHEETS: CHOICE
(EXCLUSION) AND CONSOLIDATION (INCLUSION) PROCESSES
PART Three: Model Building, Testing and Auditing
CHAPTER 7: Creating Transparency: Formula Structure, Flow and Format
INTRODUCTION
APPROACHES TO IDENTIFYING THE DRIVERS OF COMPLEXITY
OPTIMISING AUDIT PATHS
IDENTIFYING INPUTS, CALCULATIONS AND OUTPUTS: STRUCTURE AND
FORMATTING
CREATING DOCUMENTATION, COMMENTS AND HYPERLINKS
CHAPTER 8: Building Robust and Transparent Formulae
INTRODUCTION
GENERAL CAUSES OF MISTAKES
EXAMPLES OF COMMON MISTAKES
THE USE OF NAMED RANGES
APPROACHES TO BUILDING FORMULAE, TO TESTING, ERROR
DETECTION AND MANAGEMENT
CHAPTER 9: Choosing Excel Functions for Transparency, Flexibility and Efficiency
INTRODUCTION
KEY CONSIDERATIONS
CHAPTER 10: Dealing with Circularity
INTRODUCTION
THE DRIVERS AND NATURE OF CIRCULARITIES
RESOLVING CIRCULAR FORMULAE
ITERATIVE METHODS IN PRACTICE
PRACTICAL EXAMPLE
SELECTION OF APPROACH TO DEALING WITH CIRCULARITIES: KEY
CRITERIA
CHAPTER 11: Model Review, Auditing and Validation
INTRODUCTION
OBJECTIVES
PROCESSES, TOOLS AND TECHNIQUES
PART Four: Sensitivity and Scenario Analysis, Simulation and Optimisation
CHAPTER 12: Sensitivity and Scenario Analysis: Core Techniques
INTRODUCTION
OVERVIEW OF SENSITIVITY-RELATED TECHNIQUES
DATATABLES
PRACTICAL APPLICATIONS
CHAPTER 13: Using GoalSeek and Solver
INTRODUCTION
OVERVIEW OF GOALSEEK AND SOLVER
PRACTICAL APPLICATIONS
CHAPTER 14: Using VBA Macros to Conduct Sensitivity and Scenario Analyses
INTRODUCTION
PRACTICAL APPLICATIONS
CHAPTER 15: Introduction to Simulation and Optimisation
INTRODUCTION
THE LINKS BETWEEN SENSITIVITY AND SCENARIO ANALYSIS,
SIMULATION AND OPTIMISATION
PRACTICAL EXAMPLE: A PORTFOLIO OF PROJECTS
FURTHER ASPECTS OF OPTIMISATION MODELLING
CHAPTER 16: The Modelling of Risk and Uncertainty, and Using Simulation
INTRODUCTION
THE MEANING, ORIGINS AND USES OF MONTE CARLO SIMULATION
KEY PROCESS AND MODELLING STEPS IN RISK MODELLING
USING EXCEL AND VBA TO IMPLEMENT RISK AND SIMULATION
MODELS
USING ADD-INS TO IMPLEMENT RISK AND SIMULATION MODELS
PART Five: Excel Functions and Functionality
CHAPTER 17: Core Arithmetic and Logical Functions
INTRODUCTION
PRACTICAL APPLICATIONS
CHAPTER 18: Array Functions and Formulae
INTRODUCTION
PRACTICAL APPLICATIONS: ARRAY FUNCTIONS
PRACTICAL APPLICATIONS: ARRAY FORMULAE
CHAPTER 19: Mathematical Functions
INTRODUCTION
PRACTICAL APPLICATIONS
CHAPTER 20: Financial Functions
INTRODUCTION
PRACTICAL APPLICATIONS
OTHER FINANCIAL FUNCTIONS
CHAPTER 21: Statistical Functions
INTRODUCTION
PRACTICAL APPLICATIONS: POSITION, RANKING AND CENTRAL V
ALUES
PRACTICAL APPLICATIONS: SPREAD AND SHAPE
PRACTICAL APPLICATIONS: CO-RELATIONSHIPS AND DEPENDENCIES
PRACTICAL APPLICATIONS: PROBABILITY DISTRIBUTIONS
PRACTICAL APPLICATIONS: MORE ON REGRESSION ANALYSIS AND
FORECASTING
CHAPTER 22: Information Functions
INTRODUCTION
CHAPTER 23: Date and Time Functions
INTRODUCTION
PRACTICAL APPLICATIONS
CHAPTER 24: Text Functions and Functionality
INTRODUCTION
PRACTICAL APPLICATIONS
CHAPTER 25: Lookup and Reference Functions
INTRODUCTION
PRACTICAL APPLICATIONS: BASIC REFERENCING PROCESSES
PRACTICAL APPLICATIONS: FURTHER REFERENCING PROCESSES
PRACTICAL APPLICATIONS: COMBINING MATCHING AND REFERENCE
PROCESSES
PRACTICAL APPLICATIONS: MORE ON THE OFFSET FUNCTION AND
DYNAMIC RANGES
PRACTICAL APPLICATIONS: THE INDIRECT FUNCTION AND FLEXIBLE
WORKBOOK OR DATA STRUCTURES
PRACTICAL EXAMPLES: USE OF HYPERLINKS TO NAVIGATE A MODEL,
AND OTHER LINKS TO DATA SETS
CHAPTER 26: Filters, Database Functions and PivotTables
INTRODUCTION
ISSUES COMMON TO WORKING WITH SETS OF DATA
PRACTICAL APPLICATIONS: FILTERS
PRACTICAL APPLICATIONS: DATABASE FUNCTIONS
PRACTICAL APPLICATIONS: PIVOTTABLES

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