Instructor for this course
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The course is presented in four parts.

First, the course introduces a business case of a “system updating” model that unintentionally includes all the hurdles to prevent fast update from the financial system. The model takes a staff 3+ hour to update the Excel reports for just 1 round of changes from the system, and what’s worse, system changes are twice or three times per day! So how to design the system updating model so that we can get “instant” updates from the system to the final presentation!

Second, the course will demonstrate how the author has overhauled the old model so that it:

  • Reduces the system updating time from 2 hours to 1 min, and
  • Reduces the presentation updating time from 1 hour to 2 minutes!

Third, the course explains 4 ways of reporting from a Financial System, but focuses on last 2 of them:

  • Extract “reports” from the System
  • Extract “data” from the System

Finally, we demonstrate the 6 Do's and Don’ts in building system-updating and presentation-updating models. Some of the best practices are:

  • Do NOT extract “individual report” from the system, opening the can of worms of huge manual work. Rather, DO extract the complete “data” from the system for automated reporting
  • Do NOT copy/paste source data into the reporting file
  • Do NOT cleanse data manually before calculation
  • Do NOT manually key in entity name to generate report

 

Course Key Concepts: Data extract, Drop-down list, Pivot table, Slicer, Paste Link.

Learning Objectives

  • Identify 4 ways of reporting out of a financial system.
  • Discover and understand when and how to cleanse data during extracting data.
  • Recognize the pros and cons of extracting tables or extracting data from a financial system.
  • Identify 4 best practices of building an “update” model based on financial system.
  • Discover 2 best practices of building a dynamic “presentation” model based on source Excel file.
Last updated/reviewed: November 24, 2020

Prerequisites

Course Complexity: Intermediate

Basic Excel and Power Query knowledge.
Example: be able to open one Excel file and connect to external data files, etc.
Prerequisite: Power Query: Ultimate Data Transformation
It is recommended to take other Excel Model Makeover courses by Lenny Wu.
Excel Model Makeover: Reducing Prep Time from 1 Hour to 1 Minute
Excel Model Makeover 2: Reducing Data Entry from 2 Hours to 2 Minutes

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  0:37Introduction to Excel Model Makeover 3: Reducing Update Time from 3 Hours to 3 Minutes
  1:54Real Business Case: How to Report from the System?
  1:26Before and After of the Makeover
  1:12Instructor Introduction
  1:18Comparison with Other Similar Courses
  0:40What you will get from this course?
How to Report from a Financial System?
  1:34First 2 ways of Reporting from a Financial System
  6:23Extracted Report from the System
  6:51Extracted Data from the System
  0:22Reporting from Financial System Wrap-up
System Reporting: 4 Best Practices
  1:36Best Practice No. 1
  1:27Best Practice No. 2
  2:38Best Practice No. 3
  1:48Best Practice No. 4
PowerPoint update: 2 Best Practices
  6:19Best Practice No. 5
  2:53Best Practice No. 6
  2:29Before and After of the Makeover - A Revisit
BONUS VBA
  5:37VBA Macro
CONCLUSION
  1:32Takeaways
  0:29Next Course & Q&A
CONTINUOUS PLAY
  49:04Excel Model Makeover 3: Reducing Update Time from 3 Hours to 3 Minutes
SUPPORTING MATERIAL
  PDFSlides: Excel Model Makeover 3: Reducing Update Time from 3 Hours to 3 Minutes
  PDFExcel Model Makeover 3: Reducing Update Time from 3 Hours to 3 Minutes Glossary/ Index
  XLSMWorkbook: Excel Model Makeover 3: Reducing Update Time from 3 Hours to 3 Minutes
  CSVWorkbook: Detailed Statement Extract
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM