[CVA Valuation Training Camp] Financial Modeling Guide - Lecture 1

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写在前面：This lecture contains an introduction to financial models and modeling12Item best practices in two parts.Because it is the first lecture,Generally not difficult,It is a suggestion for habit formation before modeling,Finally, the relevant book recommendations are attached.

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Introduction to financial models

1. 注意事项

Use dual monitors、使用键盘快捷键、The mouse is placed in the middle of the keyboard（The essence is to imitate the touch screen of a laptop）

2. 模型简介

• 利润表预测

• 资产负债表预测

• 现金流量表预测

• Report leveling

Financial models for smaller startups、It is suitable for family businesses or large corporations.

3. 财务预测模型——It is an estimate rather than a prediction

• A financial model is just a tool,i.e. given on 「assumptions about the company's future performance」,Estimate the future performance of the company,So assumptions are critical when modeling
• The output of a financial model does not determine future trends,The result is a reference for us to make decisions,Let us know in order to achieve one or more performance goals,需要做什么.

4. One-time specific models and template models

Template models help teams work together,At the same time, the evaluation efficiency is greatly improved.

5. Model developer

• 财务专家
• Virtual architect
• Be proficient with spreadsheets

12best practice

• 要有清晰的思路,Be clear about the purpose of creating the model

Think first, then practice

• 保持简单（But it can't be too simple）
• Set a logical calculation order

采用IPOway to build the model,The first worksheet is the input data,The intermediate worksheet is for processing operations,The last worksheet is the result output sheet.

• Enter item data、Calculation and output results need to be listed by area
• Each data point corresponds to only one input
• Models are created using the modular approach
• Consistent model before and after
• Make all cells in the spreadsheet visible
• Guidelines for users should be set in the model

数据验证、The information is formatted（单元格大小、字体、字号等）、Set up error correction mechanism

• 充分利用Excel自带功能
• 记录开发过程

记录操作步骤,Easy to reproduce for yourself and others

• Save the file anytime

When there are major revisions,The save file should be set to a different filename（「日期+版本号」）,And make relevant records in the document.

Recommended reference materials

• 财务建模
• Financial Models and Valuations
• 财务模型

思考与总结

总的来说,This lecture is mainly to introduce us to develop good operating habits before modeling,本质上还是对ExcelProper use and proficiency.这里推荐boccupy a placeup主excel教学,upThe Lord explained very carefully！

https://www.bilibili.com/video/BV1Gq4y1M716?spm_id_from=333.999.0.0&vd_source=cfeb58bd2f554de89cfb4a84ad063623

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