How to sense check the units in your model

Like checking for duplicate row labels, this is not a check you'll need to run very often. It can help you pick up errors and inconsistencies, however.

Quite often inconsistencies can creep into the units in our model. For example, we might be working on the model and use USD 000s as a label. Somebody else in the model may use $ 000s, without realising.

Adopting the habit of using the named range "SMU" for the standard units in a model helps to maintain consistency of the commonly used units in the model.

The productivity macro utilities can give you a list of all the units used in the model. This gives you a quicker way of checking for any errors or inconsistencies in your model, or units that should not be there.

To create a list of all the units used in the model:

Ctrl+shift+6, followed by U to create a list of units

The macro will create a new workbook with a sheet containing a list of all the units used in the model.

You can then do a visual inspection of the units to ensure there are no errors or inconsistencies, or units that should not be there.

If there are any units that you want to check, use Excel's "search and replace" function.

Comments

Sign in or become a Financial Modelling Handbook member to join the conversation.
Just enter your email below to get a log in link.

Subscribe to Financial Modelling Handbook

Don’t miss out on the latest financial modelling guides. Sign up now to get access to the library of members-only guides.
jamie@example.com
Subscribe