Customer Reviews

Building Financial Models with Microsoft Excel: A Guide for Business Professionals

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3 star:		(1)
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1 star:		(2)

 

 

Chances are that if you are even thinking about financial modeling you have at least a basic understanding of excel and accounting. If that is the case, this book will prove to be almost completely useless. The modeling examples used within the book are so simplistic that if you have had half a semester in an accounting class you will have a more indepth understanding than what the book provides. Financial valuation is almost non existant as is sensitivity analysis, with each getting a short token chapter. The use of excel is at such a beginner level that I feel as if I did more indepth work with excel attempting to figure out my student loan payments. I have read the book from front to back and feel as if it has provided me with no useful manner in which to conduct any sort of modeling other than in an imaginary world where companies only sell one product, have almost no expenses, collect all their recievables within the next pay period and other such ludicrious assumptions. In addition there are several errors in the examples provided in the book. These made me chuckle since anyone who could catch them would not need the book and anyone who actually needs the book for its rudimentary "guidance" would be left bewildered and confused as to why they got the answers wrong.

The book has some merit to a reader new to Excel, and who wants something a bit more indepth than the Idiots or Dummy's books on Excel. Proctor gives examples that do more with the spreadsheets, and you get to appreciate what Excel can provide.

But, as other reviewers have cogently pointed out, the book really is not for business professionals, despite what the title says. An accountant or businessperson should already have more background on financial modelling with spreadsheets that the level provided here.

This work lacks substance for anyone remotely likely to have to do any real financial analysis. The examples are too simplistic to be of much practical value. If you have virtually no training or experience in Excel or accounting or finance then this book might be worth borrowing from a library to get you up to speed. If you have more than a week of experience in this area then it will sit on the shelf.

The book is very well structured. Following the steps proposed it's possible to understand the whole process of developing a good budget and the main financial statements.
The book is more suitable for beginners, new entrepreuners and people who wants to get an overview on how to develop a budget and good financial statements using Excel.

Very good structured book for finance industry employees and analytics, reasonably good examples of modelling with decent explanation.
Additionally Author gives away CD with all data and Q&A sheets for better knowledge retention. You go through the book with remarkable easyness and pleasure ;)
I highly recommend this book

You need to be programmer to understand this, if you are computer savy, this would be good, if not ....

If this book is of any value to anyone,it would new banking associates/management consultants who will be reviewing the work of others. Amazingly, the book contains numerous errors and inconsistencies among the various figures presented in each chapter. Tracking down the source of the differences brought back (not so) fond memories of my tenure as an investment banker. Stick with the 2004 edition as the new release will probably correct most of these errors.