 Basic Formatting

It's important to get the statistics accurate, the next reasonable step is to make the model appear
attractive. A well-formatted model is easier to read, understand, and navigate. Furthermore, a
modeler will find it easier to work with a structured model. The Home tab in the most recent
version of Excel displays all of the color, font, and alignment formatting options. The Number
ribbon has a shortcut on the Home tab that allows you to rapidly alter the number format of any
cell.
 Custom Formatting
Altering the appearance of data in cells without affecting the underlying data For example, the
function NOW() obtains the current date and time from the computer and displays it in the format
"dd/mm/yyyy hh:mm" by default. This date can be formatted differently without affecting its
intrinsic meaning.
 Conditional Formatting
It's a feature that enables a modeler apply formats to a cell or a range of cells based on the cell's
value or the value of a formula. A modeler can, for example, make data in a cell bold only when
the cell value is more than 100. The format chosen by the modeler is applied to the cell when the
cell value meets the format criterion. The cell's default formatting is utilized if the value does not
meet the format criteria. When preparing a Statement of Comprehensive Income, conditional
formatting is used (SCI). The cell will turn red if the modeler wants to emphasize any instances
when the variance is 10% or more higher than the budget.

PROJECT THE MODEL

 File - This is to prevent anyone from opening the model. This can be done by changing the
options and saving over the existing copy of the file. There are two (2) options with this:
Password-protect the file. This is to prevent anyone from opening or to make changes in the file
without a password. Given below are the steps of doing it:
1. Click the File menu in the top left-hand corner of the screen and select Save As.
2. Click the Tools button and select General Options. 3. Enter the password and
save the file.
Recommending read-only. Instead of using a password to prevent access, one can use the read-
only option to deter users from changing the workbook. Given below are the steps in enabling the
read only option:
1. Click the File menu in the top left-hand corner of the screen and select Save As.
2. Click the Tools button and select General Options.
3. Check the Read-Only Recommended checkbox.
 Structure - This is to prevent anyone from making structural changes in the workbook. This is
normally used for hiding worksheets and restricting access to them. The following are the steps in
protecting the structure of a workbook:
1. Click the Review bar and then choose Protect Workbook. A dialogue box will be prompt.
2. Enter the password in the dialogue box.
  Worksheet - This is to prevent anyone from changing the inputs in the worksheet. In protecting
the sheet, one can choose whether to protect the whole sheet or just certain key cells in the sheet.
Protecting the whole sheet. Given below are the steps in protecting a worksheet:
1. Go to the sheet to be protected.
2. On the Review tab, in the Changes group, select Protect Sheet.
3. This will bring up the Protect Sheet dialog box, in which one can enter a
password to prevent users from unprotecting the sheet.
4. Enter a password and click OK. Afterward, confirm the password.
5. The whole sheet is now protected. Users will not be able to change the contents
of any cell. To change the data in the sheet, unprotect the sheet first.
Protecting certain key cells. Given below are the steps in protecting certain key cells in the
worksheet.
1. Select the cells that you will allow to be edited.
2. Right-click and select Format Cells to bring up the Format Cells dialogue box.
3. Go to the Protection tab and uncheck the Locked option and then click OK.
4. Afterward, protect the whole sheet by following the steps given above.
FORM CONTROLS

 Checkboxes - They are very handy tools that can help users choose their desired options from a
list. By building checkboxes into a financial model, the developer allows users to customize the
model by adjusting the combinations of inputs for the financial model’s assumptions.

Below are the steps in creating Checkboxes:

1. Go to the Developer tab on the Excel toolbar and click on Insert.
2. From the Form Controls menu, select the checkbox and then draw it anywhere in the
sheet.
3. Link the checkmark in the box to any cell in the model. To do it, open the Format Control
associated with the checkbox. Right-click on the checkbox and select Format Control.
Alternatively, select the checkbox and click Properties on the ribbon under the Developer
tab.
4. In the Format Control dialog, select the default value of the checkbox (unchecked,
checked, or mixed). To enhance the look of the checkbox, select “3-D shading”.
5. The cell to which the status is linked will have a Boolean value of TRUE or FALSE.
Because TRUE has a value of 1 and FALSE has a value of 0, they can be used in
calculations.
6. Add multiple checkboxes corresponding to the items in the list and then design the
financial model to pick the said items.

 Spin buttons - They control what users can enter into the input fields in the financial models. By
including a spin button, users can increase or decrease the number in the increments specified in
the model. For example, the current value in the data is 400, and the modeler sets an increment of
 five (5). When users hit the up arrow in spin buttons, it will change to 405, then 410, 415, and so
on.
The following are the steps in creating a Spin button:
1. Go to the Developer tab on the Excel toolbar, click on Insert, and select the Spin button.
2. Draw the Spin button next to the input box for the value to be controlled.
3. Edit the properties of the button using Format Control.
4. In the Format Control dialog box, specify the minimum and maximum values for the
Spin button. Specify also the cell in which you want to place the values.
5. Press the arrows up and down and see the values in the model change.

 Combo boxes - They are alternatives to the data validation dropdown tools. The advantage of the
combo box is that the dropdown arrow is visible whether the cell is selected or not. This is a
significant advantage if users are not very Excel savvy. However, a combo box takes much longer
to build, requiring more cells for the process and, therefore, less efficient. For these reasons, most
modelers prefer the data validation dropdown tool.

Given below are the steps in creating a combo box:

1. Go to the Developer tab on the Excel toolbar and click on Insert.
2. From the Form Controls menu, select the Combo Box.
3. Draw the Combo Box next to the input box for which you want to control input. Note: It
does not need to fit neatly into a cell.
4. To fix the inputs, create an input box with inputs.
5. Associate now the inputs with the combo box using Format Control. Access the Format
Control dialog box in the same manner as for the other form controls.
6. In the Format Control dialog box, give the Input Range and the Cell Link. The output cell
will only indicate the item number selected. For example, 1 for optimistic, 2 for likely,
and 3 for pessimistic. To translate these numbers into meaningful percentages from the
chart, link the growth amounts in the column to the output cell. This can be done using
IF, INDEX, or even a CHOOSE function in Excel.
7. Practice changing the combo box, and see the values change