Excel for CFOs’ Post

I use these Excel functions EVERY single day in my fractional CFO work 💼 While there are hundreds of Excel functions available, there are only a select few that I use almost every day...9 to be exact. 🎉 Join me LIVE in December at the Active Cell conference with countless Microsoft MVPs and world Class Financial Modelers 🏆 Grab 10% off on your ticket here 👉 https://lnkd.in/dGhDhYew 🎟️ Today, we're going to do a deep dive on these 9 functions, and how you can use them in your work too. 👇 ➡️ SUMIFS This one is my go-to, and is what it sounds like. It "SUMS" data in a range "IF" it meets a certain level of criteria. For example…I'll often times condense a profit & loss into a summarized profit and loss using SUMIFS. ➡️ INDEX MATCH The Dynamic Duo It in essence combines both the Index and the Match value, allowing you to have complete flexibility over your range with dynamic inputs. Many feel that XLOOKUP is superior, and I won't fight it - it's all a matter of personal preference! ➡️ XLOOKUP The beauty of Xlookup is it replaces the limitations you have with Vlookup and Hlookup (please, I'm begging you...stop using Vlookup)… allowing you to look up values in a 2 dimension table, both top to bottom↕️ and ↔️ left to right ➡️ COUNTIFS This one is not nearly used enough…it's extra useful when you're comparing 2 datasets. ➡️ IF The Logic Master The premise is extremely simple… IF my condition is TRUE, return this result. Otherwise (ie it's false), return this other value. ➡️ EOMONTH The Date Wizard Almost any financial report will show your dates going across this way ↔️ and your accounts going across this way ↕️ You can extend the dates by a month by using =EOMONTH(last period,1)… or by a quarter using =EOMONTH(last period,3)… or a year with =EOMONTH(last period,12) ➡️ UNIQUE The Duplicate Destroyer Duplicates can cause a headache 🤕 and while there are numerous ways to remove duplicates…UNIQUE is actually my favorite. ➡️ FILTER The Data Slicer OK, this one is a top favorite for me. With the FILTER function, you can set all sorts of conditions, and return a whole table based off of those conditions. Combine that with a SORT function to return your results in the order you need. ➡️ SUMPRODUCT The Hidden Champion. Most professionals simply don't realize its full potential. In fact…it's so powerful, that it replaces the need for each of these functions: XLOOKUP, SUMIFS, COUNTIFS, AVERAGEIFS, and can do things that these functions can't. And you can tap into this power once you start using it together with some of the other formulas I showed you today. But this is a topic for another time === These 9 Excel functions are my go-to in finance and accounting. While Excel offers countless other formulas, I've found these to be the most valuable in day-to-day work Which one is your favorite? And which would you add? Let me know in the comments below 👇

📊🚀 Just Completed a Course: "Excel for Financial Planning and Analysis" 🚀📊 Thrilled to announce that I've successfully completed a comprehensive course on "Excel for Financial Planning and Analysis"! Here's a rundown of the key concepts I've mastered: 1-Sequence: Understanding how to generate and manipulate sequences in Excel is fundamental for organizing financial data. Sequences help in creating orderly lists, dates, and numbers, essential for structuring financial models effectively. 2-MIN and MAX Functions: Delving into the MIN and MAX functions has been enlightening. These functions are indispensable for identifying the lowest and highest values within datasets, aiding in crucial decision-making processes in financial analysis. 3-Lookups: Mastering lookup functions such as VLOOKUP and HLOOKUP has been a game-changer. These functions enable quick and efficient retrieval of specific data points from large datasets, crucial for conducting detailed financial analysis and reporting. 4-INDEX and MATCH Functions: Harnessing the power of INDEX and MATCH functions has revolutionized how I approach data retrieval and manipulation. These functions offer dynamic ways to locate and extract data, providing greater flexibility and accuracy in financial modeling. 5-Camera Tool: Exploring the Camera tool has opened up exciting possibilities for creating dynamic, linked images of selected data ranges. This feature allows for the creation of interactive financial dashboards and reports, enhancing the visualization of key insights. 6-Dynamic Functions: Learning about dynamic functions like OFFSET and INDIRECT has expanded my Excel toolkit significantly. These functions enable dynamic referencing and manipulation of data ranges, empowering me to build more robust and adaptable financial models. 7-Nested Formulas: Exploring nested formulas has taken my Excel skills to the next level. By combining multiple functions within a single formula, I can perform complex calculations and analyses with precision, paving the way for more sophisticated financial modeling. Completing this course has equipped me with a diverse range of Excel skills tailored specifically for financial planning and analysis. I'm excited to apply these newfound capabilities to enhance decision-making processes and drive better financial outcomes in my professional endeavors! Here's to leveraging the full potential of Excel for financial excellence! 💼📈 #Excel #FinancialPlanning #FinancialAnalysis #Analysis #SkillsAcquired

Looking to enhance your financial reporting in Excel? Our latest blog post, "5 Tips for Excel-Based Financial Reporting," shares practical ways to streamline processes and minimize errors. Read the full post here: https://lnkd.in/gimTcJfr #Excel #FinancialReporting #FinanceTips #AccountingTools

Simplify financial analysis with Power BI income statement. Learn how to create interactive reports that provide deeper insights into your business performance. #PowerBI #incomestatement #financialreporting #datavisualization #BusinessAnalytics

The perfect Finance Chart Credits to Soufyan Hamid, follow him for more content. The original post ---- Build your sexy charts in Excel All the steps for the major graphs for Finance If you take the default Excel Charts, there is one truth They aren't sexy at all and don't show anything - colours are not aligned with your company's - they don't highlight the main points - the look like they were made in 1998 So I customize them to make sure it can be used for visuals And with that, I don't need those expensive and tough tools like PowerBI or Tableau And let's be honest, 99,99% of the finance professionals in the world still prefer to work with Excel, right? So there you go, 4 main charts used - Line Chart - Bar Chart - Pie Chart (yes yes, pie charts, no matter what Paul Barnhurst, The FPandA Guy or Anders Liu-Lindberg think) - Waterfall Chart (this one in two versions) If you're happy, you might as well print it and hang it on your office wall ---- Follow our page Excel for CFOs to learn more about Excel in Finance & Accounting

Top 10 Excel features for CFOs 10x your productivity and impact with my Excel power cheat sheet. I spent thousands of hours in Excel and built lots of complex models. But I use Excel for financial intelligence and strategic decision making, To help my clients drive their desired results, financing & valuations. So there are only a handful of features I need to use regularly. Beyond the basics like SUM, MIN, MAX. The rest fit on one simple Cheat sheet. Here are my Top 10 Excel Features to help you 10x your impact and influence as a CFO: 1.     XLOOKUP: Quickly finds and retrieves data from tables, saving time when updating financial models with new information. 2.     SUMIFS: Adds up numbers in a range that meet specific criteria, perfect for detailed budget tracking and variance analysis. 3.     INDEX MATCH: This powerful combination finds data in tables more flexibly, allowing retrieval from any column, which is extremely useful for building dynamic models. 4.     IF and IFERROR: IF tests conditions and makes decisions in your data, while IFERROR prevents errors from disrupting your model, ensuring smooth data handling. 5.     Power Query: Automates the process of pulling in data from various sources, simplifying the process of importing, cleaning, and transforming your financial information. 6.     Tables: Converts a range of data into a structured table, enhancing management and analysis of large data sets, which is essential for Power Query automation and use in Power BI. 7.     Data Validation: Ensures that the data entered into your model meets specified criteria, preventing errors and ensuring consistency. 8.     CHOOSE: Facilitates quick switching between different scenarios in your financial models, aiding in the comparison of various financial outcomes. 9.     Named Ranges: Assigns descriptive names to cell ranges, improving formula readability and spreadsheet navigation. 10.  Charts and Conditional Formatting: Uses visual tools and formatting rules to represent data graphically and highlight key figures, enhancing the clarity and impact of insights. These are my top 10 Excel features for CFOs who need strategic insights for executive business decisions. What do you think? ----------------------  ❌ Frustrated by Short-Sighted Financial Plans? Financiario can help.   ➡️➡️➡️➡️ Transform your strategic financial planning with long term forecasts ➡️➡️➡️ Anticipate the future with automated reports & dashboards. ➡️➡️ Align your operating plans with your financial strategy. ➡️ Solve your most critical strategic planning problems.

Top 10 Excel features for CFOs 10x your productivity and impact with her Excel power cheat sheet. --- Oana spent thousands of hours in Excel, building numerous complex models. However, she primarily uses Excel for financial intelligence and strategic decision-making to help her clients achieve their desired results, financing, and valuations. As a result, she only relies on a handful of features regularly. Beyond the basics like SUM, MIN, and MAX, the rest fit on a simple cheat sheet. Here are her Top 10 Excel features to help you 10x your impact and influence as a CFO: 1.     XLOOKUP: Quickly finds and retrieves data from tables, saving time when updating financial models with new information. 2.     SUMIFS: Adds up numbers in a range that meet specific criteria, perfect for detailed budget tracking and variance analysis. 3.     INDEX MATCH: This powerful combination finds data in tables more flexibly, allowing retrieval from any column, which is extremely useful for building dynamic models. 4.     IF and IFERROR: IF tests conditions and makes decisions in your data, while IFERROR prevents errors from disrupting your model, ensuring smooth data handling. 5.     Power Query: Automates the process of pulling in data from various sources, simplifying the process of importing, cleaning, and transforming your financial information. 6.     Tables: Converts a range of data into a structured table, enhancing management and analysis of large data sets, which is essential for Power Query automation and use in Power BI. 7.     Data Validation: Ensures that the data entered into your model meets specified criteria, preventing errors and ensuring consistency. 8.     CHOOSE: Facilitates quick switching between different scenarios in your financial models, aiding in the comparison of various financial outcomes. 9.     Named Ranges: Assigns descriptive names to cell ranges, improving formula readability and spreadsheet navigation. 10.  Charts and Conditional Formatting: Uses visual tools and formatting rules to represent data graphically and highlight key figures, enhancing the clarity and impact of insights. These are her top 10 Excel features for CFOs who need strategic insights for executive business decisions. --- Original Content Creator: Oana Labes, MBA, CPA (give him a follow)

Excel is essential in commercial real estate for building financial models, analyzing deals, and managing property data. Here are a few tips: - Learn shortcuts to save time on repetitive tasks. - Use key formulas like IRR, NPV, and INDEX-MATCH for accurate analysis. - Keep spreadsheets clear and organized with proper formatting. Looking to improve your Excel skills? Check out this practical guide tailored for CRE professionals: https://smpl.is/9yvya #CRE #CommercialRealEstate #RealEstateFinance #ExcelTips #FinancialModeling #CRETools #RealEstateEducation #ExcelForRealEstate #PropertyAnalysis #InvestmentAnalysis

🔍 Unlock the Power of Excel for Financial Modeling! 🔍 Excel is a game-changer when it comes to financial modeling. Whether you’re forecasting revenues, analyzing valuations, or budgeting, Excel’s features make it a top tool for building robust financial models. Here’s how to leverage it effectively: ➡ Organize Your Workbook: Set up separate sheets for inputs, calculations, and outputs to keep things organized and clear. ➡Input Assumptions: Enter key assumptions like growth rates and costs on a dedicated sheet. Use data validation to ensure accuracy. ➡Build Formulas: Utilize basic and advanced formulas to perform calculations. Financial functions like NPV and IRR can provide deeper insights. ➡Create Dynamic Models: Link your assumptions to calculations and outputs. Use scenario analysis to explore different outcomes. ➡Visualize Data: Enhance your model with charts and graphs to illustrate trends and key metrics. Apply conditional formatting to highlight important data. ➡Validate and Review: Regularly check and audit your formulas to ensure precision. Excel’s tools can help you trace and fix errors. ➡Document and Share: Include notes to explain your methodology and protect your sheets to avoid accidental changes. Manage versions to track updates. 🔗 How do you use Excel in your financial modeling? Share your tips or reach out to discuss how Excel can enhance your financial analysis! 💬 Let’s connect and make financial modeling simpler and more effective with Excel! 🔗 #Excel #FinancialModeling #DataAnalysis #BusinessFinance #Forecasting #FinancialPlanning #shaikomer #CFO #CEO

Using Excel’s Scenario Manager for decision-making This column shows how to quickly project financial possibilities with Excel Scenario Manager. #Excel #scenariomanager #decisionmaking #financialpossibilites #cpafirm #cpapartnersllc