The advent of a new year is a great opportunity to put in place some aims and goals. Financial modelling should be no different. Here are some things, which you might want to focus on for your New Year’s Resolutions as a financial modeller.
The creation of a best practice financial model can be both time-consuming and immensely challenging. Although it is important to create a credible forecast or plan, the financial modeler must ensure the financial model is correct and not out of balance. There are some basic things to always consider when composing a financial model for a client or internal purposes.
There is a lot discussed about the importance of best practice financial modelling. However financial professionals need to be aware of what constitutes the opposite; a worst practice financial model and how it can be transformed into one that is deemed best practice.
Although Excel for Mac 2011 has greatly improved functionality that mirrors its Microsoft cousin, there are still many subtle aspects that can stump a financial modeller, when creating a seamless spreadsheet between the two operating systems.