Excel Functions You Simply MUST Know

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If you are in finance, you have all in your hands—just need an idea how to apply, and simply learn a technique.

These Are Some Ideas for Practical Cases:

💡 SUMIFS: Aggregate departmental expenses based on category & period. Sum revenue by product, region, or time period.
💡 COUNTIF: Identify how many months exceeded budgeted expenses.
💡 VLOOKUP: Pull actual vs. budget data for variance analysis.
💡 XLOOKUP: Fetch latest financial figures dynamically from reports. Match department codes to cost centers without worrying about column order.
💡 IFS: Categorize costs automatically (e.g., "High" for expenses > $100K).
💡 EOMONTH: Automatically set month-end dates for forecasts & financial reports.
💡 NPV: Evaluate long-term project profitability by discounting cash flows.
💡 FV: Forecast future cash balances for treasury planning.
💡 PV: Assess the present value of lease payments in CapEx planning.
💡 IRR: Determine return on investment for capital budgeting decisions. Compare different projects to determine the most profitable investment based on IRR.
💡 INDEX & MATCH: Flexible cost allocation in financial models.
💡 IF: Create dynamic financial statement assumptions based on conditions.
💡 IFERROR: Prevent calculation errors when pulling incomplete data.