Want to master the fundamentals of basic finance using Excel? then this is one of the few books on the market that really meet this need. Want to set up more advanced mathmatics modeling? well as the introduction of this explains, this book is more like a cookbook: it lists the required basic ingredients and the culinary process but if you want to spice the dish (financial model) up, it is up to the individuals to dig out those advanced formulas from the financial trade journals and apply them to the models.

I first saw the first edition of this book in my college library. took it home and was EXCITED. I was looking for a practical book that would show me the intricacies of Excel for setting up financial models and this was like a god-sent. Like one of the other reviewers said, this book combined basic finance, Excel functions, and VBA programming. To add practicality to this book, Professor Benninga even showed how to download financial data from the internet. Granted it is rather basic, but it adds to the usability of his book, making it a well-round book.

The best parts are end-of-the chapter exercises. Solutions are provided in the accompanying CD-ROM. See how many ways can you solve the same problem.

Professor Benninga always outlines the assumptions and explains the parameters of each model. We should remember that in many instances, unrealistic assumptions lead to way-of-the mark numbers, rendering the whole modeling process and its calculations useless.

Want to become a advanced-level financial modeler? then master the fundamentals first! this book gets you started.

P.S. I also highly recommend to anyone just starting with Excel modeling to read William J. Orvis's Excel for Scientists and Engineers. It is a bit outdated but still highly useful for its chapters on curve fitting, VBA programming and raw data manipulation.