I purchased this edition together with Day's other book "Mastering Financial Modelling" recently on a trip to London. I was really looking for an Excel modelling book that had a bent on many of the common problems encountered in everyday corporate finance. These two books answered my brief very well.
For this book, the focus is on the various different theories of corporate finance and applied within a standardised Excel modelling framework. The theorectical detail is light, as the book assumes a certain level of academic training, so as to show the reader how such problems can be structured and modified with layers of complexity as needed. In addition to corporate finance principles, the book summarises the key elements of statistics that are used in most financial evalutaions.
The book is marred by some sloppy editing, spelling mistakes and gramatical errors (most unlike his other books). To me the key advantage of the book is how the author highlights and emphasises the sheer power and potential of Excel. As a result my modelling capabilities just reached a whole new level!