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Certificate in Intermediate Financial Modelling Using Excel

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Acquire practical skills to plan, build, analyse and report efficient financial models using Excel.

RwandAir business, finance, strategy and analytical rolesTarget Audience
16 ModulesProgramme
Practical / Instructor-ledLearning Format
Build practical financial models in Excel to strengthen analysis, reporting and decision-making.
Programme recognition Accrediting Partners
ACCA
Financial Modeling Institute
1. Programme OverviewPractical financial modelling for stronger business analysis and decision-making

Excel's advanced functionality, formatting and visual-design capabilities make it a widely used data-modelling and business-reporting tool.

This practical RwandAir programme develops an understanding of fundamental financial-modelling concepts and Excel techniques for improving model outputs, analysis and reporting.

Participants will work through model planning and design, Excel functions, data manipulation, pivot tables, scenario analysis, dynamic validation and formatting, visualisation, form controls, macros and integrated financial modelling.

2. Overall Training ObjectiveDevelop a practical framework for efficient and powerful financial models

Acquire fundamental skills to develop a framework for creating efficient and powerful financial models that aid decision-making processes.

3. Learning ObjectivesCapabilities participants should develop
1

Understand the key applications and fundamental principles of financial modelling.

2

Discover the tools to interpret data and build financial models using essential Excel skills.

3

Learn how to use conditional formatting and sparklines to improve analysis.

4

Use visual effects and charting functionality, including form controls.

5

Improve the user-friendliness and efficiency of financial models through recording and using macros.

6

Summarise, present and communicate data clearly and concisely.

4. Who Should AttendRwandAir business, finance, strategy and analytical roles

This hands-on course is designed for middle and senior business and finance professionals, as well as general managers who use financial models to measure business performance.

  • Finance Managers
  • Financial Controllers
  • Management Accountants
  • Business Analysts
  • Strategy Directors and Managers
  • Business and Financial Analysts
  • Project Managers
  • Risk Analysts
  • Heads of Business Units
  • Business Planners
  • Financial Advisors
  • Corporate Analysts
5. Course Structure16 modules combining financial-modelling principles with practical Excel application
Course Modules
1Introducing Financial Modelling
  • Defining financial modelling
  • Examples of financial models
  • An overview of Excel versions and modern Excel tools
  • Advantages and disadvantages of using Excel as a modelling tool
2Planning and Designing a Financial Model
  • Financial model layout and best practices
  • Purpose of the model
  • Key output
  • User requirements
  • Establishing the audience
  • Data requirements and data collection
  • Worksheet structure – model layout
  • Documentation
  • Protecting your financial model
  • Error checking and strategies to reduce error
3Working with Customised Formatting
  • Custom number formatting
  • Number formatting basics
  • Thousands and millions
  • Working with zero values
  • Custom format colours
  • Formatting dates and times
4Essential Excel Functions for Creating Efficient Models
  • Functions for manipulating text
  • The IFERROR and #NA functions
  • The COUNT, COUNTIF / COUNTIFS functions
  • The SUM, SUMIF / SUMIFS functions
  • The SUMPRODUCT function
  • Rounding functions
  • The VLOOKUP and XLOOKUP functions
  • The INDEX and MATCH functions
  • The AND, IF and OR functions
  • The PMT, NPV and IRR functions
  • Nesting formulas
5Using Excel Tools and Techniques in Financial Models
  • Using data validation to simplify user input
  • Relative, mixed and absolute cell referencing
  • Using named ranges and understanding the Name Manager
  • Using links to create dynamic formulae
  • Ranges and tables
6Conditional Formatting
  • Using conditional formatting
  • Enhancing analysis and reports
  • Basic conditional formatting
  • Symbols in formulae
7Using Sparklines
  • Introducing sparklines
  • Creating sparklines
  • Customising sparklines
8Pivot Tables
  • Building pivot tables
  • Customising pivot tables
  • Pivot-driven reporting – including the use of slicers
9Modelling Scenarios Using Analytical Tools
  • Using What-If-Analysis
  • Using Scenario Manager
  • Using Goal Seek
  • Using Data Tables
  • Using Solver
10Charting and Visualisation Techniques
  • Using line / area charts
  • Using column / bar charts
  • Using combination charts
  • Comparative trending
  • Time-period emphasis
  • Top and bottom displays
  • Variance displays
  • Target vs. actual
  • Performance vs. trends
11Creating Visually Impactful Charts Using Formatting Functionality
  • Progress bar charts
  • Thermometer charts
  • Butterfly charts
  • Bullet charts
12Leverage Macros to Automate Aspects of Your Financial Model
  • Recording macros
  • Running and enabling macros
  • Using macros in financial models and reports
13Utilise Form Controls to Enhance Your Financial Model
  • Introducing form controls
  • Button control
  • Combo boxes
  • Check boxes
  • Spin buttons
  • List boxes
  • Option buttons
  • Scroll bars
14Capital Expenditure and Depreciation Models
  • Budgeted asset purchases
  • Budgeted asset depreciation
  • Book values for disclosure in the statement of financial position
15Building an Integrated Financial Model
  • Accounting fundamentals – including financial statement construction and linkages
  • Income statement
  • Cash flow statement
  • Statement of financial position
  • Model schedules – revenue, operating costs (including fixed, semi-variable and variable costs), working capital (inventories, accounts payable and accounts receivable), fixed assets (including depreciation and amortisation)
  • Taxes
  • Debt and equity
  • Sensitivity analysis
  • Model automation
  • Reporting
16Building a Discounted Cash Flow Valuation Model
  • How DCF valuation works
  • Free Cash Flow (FCF)
  • Weighted Average Cost of Capital (WACC)
  • Terminal Value (TV)
6. Training MethodologyTheory first, followed by practical spreadsheet-based application

Modules 1 and 2 focus on the theoretical principles of financial modelling.

Modules 3–16 are practical and are facilitated using pre-configured spreadsheets so participants can apply the knowledge shared during the sessions.

Modules may extend across more than one learning session depending on the extent of the content and participant requirements.

7. Expected Training OutcomesPractical Excel and financial-modelling capability
Model design Plan and design efficient financial models around purpose, outputs, users and data requirements.
Excel application Use Excel functions, validation, referencing, named ranges, tables and formatting techniques to build robust models.
Analysis Apply pivot tables, what-if analysis, scenarios, Goal Seek, data tables and Solver to support business analysis.
Reporting Present model outputs clearly using charts, sparklines, visual formatting and form controls.
Automation Use recorded macros to improve the efficiency and usability of financial models and reports.
Integrated modelling Build linked financial statements and supporting schedules, and apply sensitivity analysis and reporting.
Valuation Understand the building blocks of a discounted cash flow valuation model, including FCF, WACC and terminal value.
8. Practical Learning OutputsSpreadsheet-based exercises throughout the programme

The programme is designed around practical application using Excel. Participant work will progressively cover the following outputs:

1Structured financial-model layout and documentation
2Custom-formatted model inputs and outputs
3Formula-driven analysis using core Excel functions
4Validated inputs, named ranges, dynamic formulae and tables
5Conditional-formatting and sparkline analysis
6Pivot-table and slicer-driven reporting
7Scenario and what-if analysis
8Management charts and visual reporting
9Macro-enabled automation
10Interactive form controls
11Capital expenditure and depreciation schedules
12Integrated financial statements and supporting schedules
13Discounted cash flow valuation components