MONTE CARLO SIMULATION: EXCEL APPLICATIONS IN ACCOUNTING AND FINANCE

This comprehensive guide presents a hands-on, practical approach to understanding and implementing Monte Carlo simulations using Excel. Recognising the ubiquitous nature of Excel in the professional world, this book demystifies complex statistical concepts by transforming them into accessible step-by-step exercises. Readers are provided with an accompanying Excel model, wherein they can actively test various probability distributions, enhancing both their theoretical knowledge and practical skill set. As a result of experienced examples and real-world applications woven throughout the chapters, users are equipped to apply these techniques directly to their own fields of interest or study. From the foundational to the advanced, each concept is broken down with meticulous care, ensuring that readers, irrespective of their prior statistical proficiency, garner a deep, practical understanding. Whether you're a student, a professional, or someone with a burgeoning curiosity about simulations, this guide offers a unique, experiential journey into the world of Monte Carlo simulations in Excel.