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The functions, VBA, and shortcuts a finance operator actually uses — curated, with CFO examples. Prefer them pre-built? Grab a ready-made model.
IF / IFS
Logic & error handlingReturn different results by condition — IFS avoids nested IFs.
Difficulty
1What is it?
IF returns one value when a test is true and another when false. IFS checks several conditions in order and returns the first match — far more readable than deeply nested IFs. End with TRUE as a catch-all.
2What it looks like
IFS(test1, value1, test2, value2, …, TRUE, default)- test1
- A condition that's TRUE or FALSE.
- value1
- What to return if test1 is TRUE.
- TRUE, default
- A final catch-all so there's always an answer.
3When you use it
- Bucket a number into bands (margin tier, aging bucket, rating).
- Map a status to a label or a color rule.
- Replace 3+ nested IFs with a flat, readable list.
4See it in action
Change the inputs — the formula and result update live. Prefer the real thing? Download the Excel file and open it in Excel.
Label a result Profit / Breakeven / Loss. The value lives in cell B2.
=IFS(B2>0,"Profit", B2=0,"Breakeven", TRUE,"Loss")Profit| A | B | C | |
|---|---|---|---|
| 1 | Metric | Value | Result |
| 2 | Net income | Profit |
The lime cell holds the formula — click it (or any cell) to see its contents in the bar above, just like Excel. Edit the blue cells to watch it recompute.
5Common errors
#N/ANo condition was TRUE and there's no catch-all.Fix: Add a final TRUE, default pair.
Wrong branchConditions overlap and order matters.Fix: Order from most specific to most general.
6Better functions & alternatives
- IF (nested) — Fine for one or two conditions.
- SWITCH — Cleaner when matching one value against a list of exact cases.
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