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Mastering Cash Flow and Valuation Modelling by Alastair Day

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19

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File: MCFM_Final.xls

DOCUMENTATION

Many models are not documented and the author has often heard that the original developer has left the department or company and the current users do not understand how the model works or how the different sections interact. Some modellers seem to want to make everything as complex as possible to prevent changes by others. However, it makes more sense that models should be clearly documented so that people are able to use and, where necessary, further develop them.

While you could write down lots of notes on the structure, a model map is often the best way of communicating the structure. There are plenty of shapes available ...

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