Created by David Moore, PhD
This is the most important document in any class. It is the agreed upon
"When it comes to understanding a business and a piece of financial analysis, no type of software can ever replace Excel. This is because going through the painstaking steps of calculating everything about a business yourself really helps you understand it. Imagine a type of software that automatically takes a company's financial statements, forecast, and capital structure, then automatically spits out an NPV. This would save you a lot of time, but would not teach you anything about the business. It's the unfortunate truth that building a financial model from the bottom up in Excel is the best way to really understand a business and an investment opportunity."
Source Corporate Finance Institute