A good business model should describe how an organization creates and delivers value, meaning that financial modelling is a vital tool for business strategy, allowing hypotheses and scenarios to be translated into numbers. It enables a company to experiment with different ideas and scenarios in a safe, low-risk environment, to consider what it is aiming to achieve, and to prioritize accordingly. Business and Financial Models provides an accessible introduction to these essential strategic practices, with guidance on using Microsoft Excel for projection and analysis. The book takes you through…mehr
A good business model should describe how an organization creates and delivers value, meaning that financial modelling is a vital tool for business strategy, allowing hypotheses and scenarios to be translated into numbers. It enables a company to experiment with different ideas and scenarios in a safe, low-risk environment, to consider what it is aiming to achieve, and to prioritize accordingly. Business and Financial Models provides an accessible introduction to these essential strategic practices, with guidance on using Microsoft Excel for projection and analysis. The book takes you through the process of building your model from the initial phase of formulating questions through modelling cash flow, budgets, investment appraisal and 'dashboard' tools for monitoring performance. Ideal for both small and large companies, Business and Financial Models also includes coverage of new visual thinking techniques, like Structured Visual Thinking, and how these can be incorporated into conventional business modelling. Online supporting resources for this book include downloadable figures from the book.
Clive Marsh has been Head of Finance & MIS, Director of Commercial Services, Director of Business Development and Divisional Manager of Corporate Services for Shell, Mobil, IBM UK, Capgemini and Ernst & Young, among others. He is also the author of Financial Management for Non Financial Managers (also published by Kogan Page).
Inhaltsangabe
Introduction 1 Stages in the development of a business and financial model Scope The fundamental question A step-by-step approach Skills required Planning the model Data quality Tools Summary 2 Developing the research question and output definition The basic question Output definitions, examples, financial outputs Summary 3 Visual thinking to develop fundamental questions - contributed by John Caswell and Sarah Gall Challenging the traditional business model New methods and approaches -- a business model reflecting the world as it is today Structured Visual Thinking (a trade mark of Group Partners) principles for a dynamic world An architectural approach to building a future 4D (trade mark of Group Partners) approach Summary 4 Input definition Basics of input definition Important variables Summary 5 Scenario identification Determining scenarios Populating the spreadsheet with input values and formulae Running different scenarios Using Excel Scenario Manager for what-if analysis Scenarios versus projections Summary 6 Building a simple model Process Example Data extraction using Excel pivot tables Some reminders of best practice Reasons for failure of a model and how to avoid them Summary 7 Using charts Excel charts Example Using charts to help concentrate on the most important variables in an organization Charts for break-even analysis Chart tools Presenting data and charts to communicate clearly Using Excel pivot charts to show extracted data Summary 8 Modelling budgets Planning and budgeting Departmental budgets and variance analysis Some key departmental budgets Capital budgets Summary 9 Sales budgets Sales budgets and forecasts are key to other budgets Elements of a sales budget Volume assumptions Summary 10 Production - material, labour and direct overhead budgets Production budget Direct materials budget Direct labour budget Direct overhead budget Gross margin and profit budget Margin and profit sensitivity Departmental budget spreadsheet Summary 11 Fixed assets and depreciation Accounting depreciation, straight line and reducing balance Additions and disposals of assets Tax depreciation (capital allowances in the UK) Summary 12 Managing and modelling cash flow and working capital The cash flow cycle Working capital ratio Optimal stock levels Debtors Cash models Cash budget Summary 13 Investment appraisal models Relevant cash flow Pay-back period Return on capital Accounting rate of return Discounted cash flow and net present value/internal rate of return Capital rationing Summary 14 The cost of capital The average and the marginal costs of capital Balancing equity and external borrowing Risk and the cost of capital Methods of determining the cost of equity Significance of the cost of capital Summary 15 Business valuation models The value of a business and building value Methods of valuing a business Who can value a business and what information do they require? Examples of valuation methods and their appropriateness to valuation reasons Earnings-based valuations Cash flow valuation models Discounted cash flow (DCF) method of valuation Summary 16 Performance indicators Dashboards Key performance indicators The integrated standard costing system Activity-based costing Summary 17 Modelling the company balance sheet, P&L and ratio analysis Prepare an Excel model Analysis and financial ratios Ratio analysis Summary 18 Financial functions Financial formulae and using Excel fx functions Excel financial functions Summary 19 Building a business model Modelling a start-up business Opening balance sheet Expected returns for risk - proprietors pay, bank interest Forecast profit and loss and sales requirement Required marketing and selling activity Direct costs required Building a model Key indicators Business plan Summary 20 Modelling projects What is a project? Critical path analysis (CPA) CPA example Risk and uncertainty Gantt charts and resource planning Modelling projects using Excel Summary 21 Integration, complexity and business models The level of integration required Data and systems integration Cloud computing Summary 22 Business models for the green economy Future challenges and opportunities Production processes Demand for greener products and services Investor expectations Resourcing Effects of climate change and other factors Supply chains Social responsibility Changing models Modelling green issues Summary Appendix 1 Excel shortcut commands Appendix 2 Chart for business model build project Appendix 3 Discounted cash flow tables
Introduction 1 Stages in the development of a business and financial model Scope The fundamental question A step-by-step approach Skills required Planning the model Data quality Tools Summary 2 Developing the research question and output definition The basic question Output definitions, examples, financial outputs Summary 3 Visual thinking to develop fundamental questions - contributed by John Caswell and Sarah Gall Challenging the traditional business model New methods and approaches -- a business model reflecting the world as it is today Structured Visual Thinking (a trade mark of Group Partners) principles for a dynamic world An architectural approach to building a future 4D (trade mark of Group Partners) approach Summary 4 Input definition Basics of input definition Important variables Summary 5 Scenario identification Determining scenarios Populating the spreadsheet with input values and formulae Running different scenarios Using Excel Scenario Manager for what-if analysis Scenarios versus projections Summary 6 Building a simple model Process Example Data extraction using Excel pivot tables Some reminders of best practice Reasons for failure of a model and how to avoid them Summary 7 Using charts Excel charts Example Using charts to help concentrate on the most important variables in an organization Charts for break-even analysis Chart tools Presenting data and charts to communicate clearly Using Excel pivot charts to show extracted data Summary 8 Modelling budgets Planning and budgeting Departmental budgets and variance analysis Some key departmental budgets Capital budgets Summary 9 Sales budgets Sales budgets and forecasts are key to other budgets Elements of a sales budget Volume assumptions Summary 10 Production - material, labour and direct overhead budgets Production budget Direct materials budget Direct labour budget Direct overhead budget Gross margin and profit budget Margin and profit sensitivity Departmental budget spreadsheet Summary 11 Fixed assets and depreciation Accounting depreciation, straight line and reducing balance Additions and disposals of assets Tax depreciation (capital allowances in the UK) Summary 12 Managing and modelling cash flow and working capital The cash flow cycle Working capital ratio Optimal stock levels Debtors Cash models Cash budget Summary 13 Investment appraisal models Relevant cash flow Pay-back period Return on capital Accounting rate of return Discounted cash flow and net present value/internal rate of return Capital rationing Summary 14 The cost of capital The average and the marginal costs of capital Balancing equity and external borrowing Risk and the cost of capital Methods of determining the cost of equity Significance of the cost of capital Summary 15 Business valuation models The value of a business and building value Methods of valuing a business Who can value a business and what information do they require? Examples of valuation methods and their appropriateness to valuation reasons Earnings-based valuations Cash flow valuation models Discounted cash flow (DCF) method of valuation Summary 16 Performance indicators Dashboards Key performance indicators The integrated standard costing system Activity-based costing Summary 17 Modelling the company balance sheet, P&L and ratio analysis Prepare an Excel model Analysis and financial ratios Ratio analysis Summary 18 Financial functions Financial formulae and using Excel fx functions Excel financial functions Summary 19 Building a business model Modelling a start-up business Opening balance sheet Expected returns for risk - proprietors pay, bank interest Forecast profit and loss and sales requirement Required marketing and selling activity Direct costs required Building a model Key indicators Business plan Summary 20 Modelling projects What is a project? Critical path analysis (CPA) CPA example Risk and uncertainty Gantt charts and resource planning Modelling projects using Excel Summary 21 Integration, complexity and business models The level of integration required Data and systems integration Cloud computing Summary 22 Business models for the green economy Future challenges and opportunities Production processes Demand for greener products and services Investor expectations Resourcing Effects of climate change and other factors Supply chains Social responsibility Changing models Modelling green issues Summary Appendix 1 Excel shortcut commands Appendix 2 Chart for business model build project Appendix 3 Discounted cash flow tables
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