In addition to telling us whether a packet of cigarettes and a pint of bitter will be more (or less) expensive next year, the Chancellor of the Exchequer presents a set of financial forecasts as part of the budget speech.
If you are planning that once in a lifetime family holiday to see Mickey Mouse next year it would be wise to start thinking about saving a regular amount of money as early as possible.
Or if you are wondering what to do with that £10,000 you inherited last year then some rudimentary forecasting could help you make a sensible decision.
What do these three scenarios have in common?
Financial modelling. That’s what.
The ability to open up Microsoft Excel and construct a simple spreadsheet that will crunch the numbers for you and help predict how the future might pan out, based on some reasonable assumptions.
The Chancellor would need to consider the health of the wider economy, the holidaymaker the likely movements in future interest rates, and the next of kin, the possible returns on various investments.
At BPP we have a number of classroom Financial Modelling courses, from the 1 day Introduction (essential Excel functionality) through the 2 day Comprehensive course (a 10 year forecast p&l, cash flow statement and balance sheet model build from scratch) to the 2 day Advanced course (more sophisticated Excel functionality). The focus is always the Golden Rules of Financial Modelling. The Dos and Don’ts that will ensure high quality flexible and dynamic models that won’t fall down as soon as your boss (or your client) starts to play with them.
Over the years the recurring feedback on these courses has been a most emphatic “I wish I would have done this earlier in my career”.
Don’t get left behind. Have a look at our Financial Modelling courses below including short intros from our Financial Modelling guru, Dave Marlow:
Financial Modelling – Introduction
Financial Modelling – Comprehensive
Financial Modelling – Advanced (& Introduction to VBA)
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