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FAST financial model design
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Setting up excel for financial modelling

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The default settings in excel aren’t necessarily the most useful for financial modelling. In this guide we recommend a few simple changes that will increase the efficiency of your excel modelling.

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Setting up excel for financial modelling

  1. 1. Financial Modelling HANDBOOK SETTING UP EXCEL for financial modelling financialmodellinghandbook.com
  2. 2. THERE IS NO GREATNESS WHERE THERE IS NOT SIMPLICITY LEO TOLSTOY
  3. 3. ABOUT THE FINANCIAL MODELLING HANDBOOK Financial modelling should be collaborative. Collaboration reduces error, speeds up development time and lowers cost. The Financial Modelling Handbook is a collaborative, crowd-sourced guide to building better financial models using the FAST Standard. www.financialmodellinghandbook.com/contribute
  4. 4. Financial Modelling HANDBOOK ANDREW Andrew Berkley is Managing Director and Lead Modelling Instructor at F1F9. Andrew is a Chartered Accountant with a background in financial advisory and business education. financialmodellinghandbook.com
  5. 5. Financial Modelling HANDBOOK SETTING UP EXCEL for financial modelling The default settings in excel aren’t necessarily the most useful for financial modelling. In this guide we recommend a few simple changes that will increase the efficiency of your excel modelling. DOWNLOAD THIS GUIDE
  6. 6. Financial Modelling financialmodellinghandbook.com HANDBOOK 1. MOVE SELECTION AFTER ENTER 1 Untick “After pressing Enter, move selection”. This means that when you enter or edit a formula, you will no longer move down one cell when you hit enter. This saves an unnecessary keystroke. To access these settings: Excel 2010: Office button  Excel options  Advanced Excel 2013: File  Excel options  Advanced
  7. 7. Financial Modelling financialmodellinghandbook.com HANDBOOK 2. EDIT DIRECTLY IN CELL 2 Untick “Allow editing directly in cells”. This means that formula editing is always done in the formula bar.
  8. 8. Financial Modelling financialmodellinghandbook.com HANDBOOK 3. HIDE THE RIBBON 3 4 3 The ribbon in Excel 2010 and 2013 takes up valuable screen space. Right click on a blank area of the ribbon to access the ribbon menu. 4 Tick “Collapse” the ribbon. From now on the ribbon will only appear when you need it. Hit ‘Alt’ to access the menu and then choose the command you need, using the highlighted keys.
  9. 9. Financial Modelling financialmodellinghandbook.com HANDBOOK 4. CALCULATION MODE 3 4 We recommend working in manual calculation mode. This is to allow modellers to maintain control over when a model calculates - generally wishing to be ‘looking at something of interest’ (i.e. an output) to see the impact of the recalculation. 3 File  Excel options  Formulas 4 Select ‘Manual’ calculation model
  10. 10. Financial Modelling HANDBOOK 4. CALCULATION MODE Calculation mode settings affect the entire environment, not just individual workbooks. The setting is stored with each individual workbook you save. The setting Excel then chooses for its initial position during any instance of an Excel environment, is the setting defined in the first workbook loaded by that instance. financialmodellinghandbook.com
  11. 11. Financial Modelling financialmodellinghandbook.com HANDBOOK. 5. SHOW DEVELOPER TAB 5 5 VBA / Macro options and tools are ‘hidden’ by default. Enabling the ‘Developer tab’ un-hides these options. 5 File  Excel options  Formulas 6 Tick “Developer”

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