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Titles:
financial model, input for, 165
formulas in, 166
formula for, 186, 187
on income statement output
Shortcut keys (macros), 273“276,
sheet, 194
324
Toggle buttons, 294“295
Short-term debt, 152
Toggle setting, 298, 299
Short-term investments, forecasting,
Toolbars:
233
adding icons to, 26“27
Short-term notes, formulas for, 181




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Index 339




Control Toolbox, 287“288 writing Excel macros in, 276“282
customizing, 24“28 Visual Basic Editor (VBE), 277“279, 315“317
deleting icons from, 27 main areas in, 277, 278
Visual Basic, 276“277 moving between worksheets and,
Total assets: 278“279, 316“317
difference between total liabilities þ View Code icon for, 291
equity and, 246 Visual Basic for Applications (VBA),
formula for, 178, 180 19, 326
Total debt/EBITDA (ratio), 221 Visual Basic for Applications (VBA)
Total debt/shareholders™ equity macros, 271, 315“327
(ratio), 220 deleting modules, 319
Total debt/total invested capital editing code for, 282“285
(ratio), 221 following hierarchy in, 320“321
Total liabilities, formula for, 183, 185 function macros, 325“326
Total liabilities þ equity, difference inserting modules, 318“319
and objects, 319
between total assets and, 246
reading code for, 280“282
Total liabilities and shareholders™ equity,
running, 323“324
formula for, 186, 187
and Visual Basic Editor, 315“317
Trademarks, 151
working with methods, 320
Treasury stock, 152
working with properties, 320
Trigonometry functions, 64
writing codes for, 322“323
TRUE keyword, 67“69
VLOOKUP function, 95, 96
True Type fonts, 31
Typefaces, 31

W
U Weighted average shares outstanding, 232
With statement, 284“285
UPPER function, 103
Working capital, 7“8, 213
User errors, 20
Working financial model, 155“192
User expectations, 16
accounts payable formulas in, 181“182
Uses of cash, 200
accounts receivable formulas in,
176“177
V adding features to, 297“298
amortization of intangibles formulas in,
Validation, data, 302“304
VALUE function, 103 169, 170
Values: appearance of, 159“165
in check boxes, 289 balance sheet inputs for, 162“165
code for entering, 282“283 balancing rows in, 165
different formats for, 305“306 balancing the balance sheet in, 187“190
for option buttons, 292 cash formulas in, 174“176
for spin buttons/scroll bars, 295 COGS and gross profit formulas in,
for toggle buttons, 294 167“168
VBA (see Visual Basic for Applications) common stock formulas in, 186
VBA macros (see Visual Basic for connecting balancing lines in, 190
Applications macros) and connecting rows to complete
VBE (see Visual Basic Editor) model, 191“192
View Code icon, 291 current assets formulas in, 176, 178
Visual Basic: current assets input for, 162
turning on toolbar for, 276“277 current liabilities formula in, 181, 182




TLFeBOOK
Index
340




Working financial model (Continued): provision for taxes formulas in, 172,
date formula in, 166 173
debt formulas in, 183“185 revenues formulas in, 166“167
depreciation formulas in, 169, 170 SGA formulas in, 168“169
dividends formulas in, 172, 173 shareholders™ equity formula in,
EBIT formulas in, 169, 170 186, 187
EBT formulas in, 171, 172 shareholders™ equity input for, 165
formulas in titles for, 166 short-term notes formulas in, 181
income statement input for, 160“161 ST investments formulas in, 174, 176
intangibles formulas in, 178“180 structure of, 155“158
interest expense formula in, 171, 172 surplus funds formulas in,
interest income formulas in, 171“172 174“175
inventory formulas in, 176“177 total assets formula in, 178, 180
liabilities input for, 164 total liabilities and shareholders™ equity
long-term assets formulas in, 178, 180 formula in, 186, 187
long-term assets input for, 163 total liabilities formula in, 183, 185
long-term liabilities formulas in, 183, 185 Worksheets, moving between VBE and,
net income formulas in, 172, 173 278“279, 316“317
net PPE formulas in, 178“179
net to retained earnings formula
X
in, 172, 173
non-operating expenses formula XIRR function, 105, 108
in, 169, 171 XNPV function, 105, 107“108
NTF formulas in, 183“184
operating expenses formulas in,
Y
168, 169
other current assets formulas in, ˜˜Y™™ (yes), 311“313
176, 178 YEAR function, 85“88
other current liabilities formulas in,
181, 182
Z
other net worth account formulas in,
186, 187 Zero, 70“71, 205“206




TLFeBOOK
ABOUT THE AUTHOR




John S. Tjia (pronounced ˜˜Chee-ah™™) has 15 years of experience
in developing financial models, including 7 years as head of the
Models Group J.P. Morgan (now known as JPMorgan Chase) in
New York. He was responsible for designing, developing, and
providing the training for the firm™s standard analysis and exec-
ution financial models for the Mergers & Acquisitions and
Investment Banking divisions worldwide. Prior to that, he was
an investment banker in the firm™s Hong Kong office and had
assignments in credit analysis and financial advisory in New
York. Now a founding partner of the TMG & Associates, LLC
modeling consulting company (www.tmga.com), he lives in
Pleasantville, New York, with his wife and two children. He
can be contacted at johntjia@buildingfinancialmodels.com.




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