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10 Must Know Excel Functions

The document emphasizes the importance of Excel in finance for tasks like budgeting, forecasting, and financial modeling. It outlines essential Excel functions such as SUM(), IF(), VLOOKUP(), and INDEX() + MATCH() that enhance data analysis and decision-making. Additionally, it covers functions for data cleaning and formatting to improve reporting efficiency.

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3 views12 pages

10 Must Know Excel Functions

The document emphasizes the importance of Excel in finance for tasks like budgeting, forecasting, and financial modeling. It outlines essential Excel functions such as SUM(), IF(), VLOOKUP(), and INDEX() + MATCH() that enhance data analysis and decision-making. Additionally, it covers functions for data cleaning and formatting to improve reporting efficiency.

Uploaded by

ajdlotkza
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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MasterExcelLikeaFinancePro!

Excel isn’t just a spreadsheet tool—it’s a powerhouse


for financial analysis.

Swipe to level up your spreadsheet concepts!


Introduction

Why Excel Matters in Finance?

• Used for budgeting, forecasting, and financial modeling.


• Helps in quick data analysis and decision-making.
• Reduces errors and increases efficiency.
• Let’s dive into the most essential functions you need!
SUM() – The Foundation of Calculation

What It Does: Adds up a range of numbers instantly.

Example: =SUM(A1:A10) (Adds values in A1 to A10)

Use Case: Summing up total revenue, expenses, or asset


values.
IF() – Smart Decision Making

What It Does: Applies logic-based conditions to return


different values.

Example: =IF(A1>1000, "High", "Low")

Use Case: Categorizing expenses, risk levels, or profit


margins.
VLOOKUP() – Finding Data Instantly

What It Does: Searches for a value in a table and returns


corresponding data.

Example: =VLOOKUP(1001, A2:C10, 2, FALSE)

Use Case: Looking up stock prices, customer payments, or


tax rates.
HLOOKUP() – The Horizontal Lookup

What It Does: Works like VLOOKUP but searches


horizontally instead of vertically.

Example: =HLOOKUP("Revenue", A1:D5, 2, FALSE)

Use Case: Comparing financial data across months, years,


or products.
INDEX() + MATCH() – The VLOOKUP Killer!

What It Does: Retrieves data based on row & column


numbers.

Example: =INDEX(B2:B10, MATCH(1001, A2:A10, 0))

Use Case: Fetching financial data more flexibly than


VLOOKUP.
TEXT() – Formatting for Reports

What It Does: Converts numbers into readable text


formats.

Example: =TEXT(TODAY(), "DD-MMM-YYYY")

Use Case: Customizing dates, currency symbols, or financial


reports.
LEN() & TRIM() – Cleaning Data Like a
Pro
What It Does:
LEN() counts the number of characters.
TRIM() removes unwanted spaces from text.

Example: =LEN(A1) / =TRIM(A1)

Use Case: Cleaning messy financial data, removing extra


spaces in account names.
CONCATENATE() / TEXTJOIN() –
Merging Text Efficiently
What It Does: Joins multiple text strings into one.

Example: =TEXTJOIN(", ", TRUE, A1:A3)

Use Case: Combining customer names, account numbers,


or transaction details.
ROUND() / ROUNDUP() / ROUNDDOWN()
– Precision in Numbers

What It Does: Adjusts numbers to a specific decimal place.

Example: =ROUND(A1, 2) (Rounds A1 to 2 decimal places)

Use Case: Rounding financial figures, currency values, or tax


rates.
Follow For More Interesting
Concepts

Saad Waheed (APFA)

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