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This course will enable you to
- Understand the basics of business simulation in Excel
- Use Excel to create cost-efficient, effective business simulations
- Understand what constitutes good data, and how to properly analyse it
- Learn how to set up queuing simulations, and their importance
- Gain an understanding of financial models and the value they provide
About the course
As accountants, we use Microsoft Excel all the time. But have you ever used Excel to simulate potential real-world business situations? Often, we assume more sophisticated and expensive software is required, but Excel can often be the more cost-effective and efficient choice.
This course takes you through the basics of modelling and business simulation in Excel, and guides you through building some of the illuminating options available to you. It also looks at the importance of collecting good data for analysis and explores how to set up queuing simulations and financial models to aid decision making.
Look inside
Contents
- The basics
- What is business simulation?
- Business simulation with Excel
- The principles of business simulation
- Types of business simulation
- The dangers of simulations in Excel
- Getting started
- How to begin
- Identifying stakeholders
- Agreeing on the question
- Planning the data
- Using data
- Understanding Kali's Korner
- Understanding Bobby Bingo
- Better data, better results
- Using real data
- Returning to Kali's Korner
- "Forecast Sheet" function
- Normal distribution
- Determining whether data is normally distributed
- Examining the characteristics of a data sample
- How to show if a set of data is normally distributed
- Selecting data using a normal distribution
- Understanding the Grange Hotel Restaurant
- Queuing and waiting
- Simulating queues
- Challenges in queuing
- Generating random events from a Poisson distribution
- Using a Poisson distribution
- Understanding Trumpton Town Zoo
- Understanding the petting zoo
- Understanding the digibox
- Financial modelling
- Simulation in financial models
- Modelling input costs
- Qualectro and input cost modelling
- Modelling customer demand in a simulation
- Using a Poisson distribution to model customer demand
- Understanding Qualectro
- Understanding the SupaScoota
- Final thoughts
How it works
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Why not upgrade?Find the best way to complete your CPD | CourseNeed just a few unitshourshours? | Pick n MixAll you need for this year's CPD. | LicenceAll you need for this year and more. | TeamKeep your whole team up to date. |
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| Access to this course | ||||
| Total CPD unitshourshours | 4 unitshourshours | 21 units20 hours21 hours | 1,500+ unitshourshours | 1,500+ unitshourshours |
| Access period | 120 days | 120 days | 12 months | 12+ months |
| Audit-proof CPD completion certificate | ||||
| Immediate access to our entire CPD catalogue | ||||
| Monthly webinars, 15-minute CPD Bites, video interviews with industry leaders, and more! | ||||
| Account manager on hand to support your team’s needs | ||||
| Learn more | Learn more | Learn more | ||
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Use ACPD101 for 10% off any purchase.