The most important formulas for accountants include the IF statement and the VLOOKUP function. LinkedIn Learning author Michael McDonald shows you how to use these formulas for accounting in Excel.
- [Instructor] Let's talk about two…of the most important formulas you need to know…when doing accounting work in Excel.…This is going to help prepare you for actually using Excel…in accounting work as we get started on it.…These are the IF formula and the VLOOKUP formula.…In particular, when we talk about the IF formula,…this is really a conditional IF.…We're essentially testing whether or not a condition is true…and then returning results based on that.…So for example, when we're using an IF formula,…we'll have three major parts to it.…
The condition that we want to test,…what we do if the formula is true…or if the condition is true,…and what we do if that condition is false.…As you see over here on the right-hand side,…we might, for instance, be interested…in looking at whether or not a particular sale…occurred in a particular year.…So we would look at whether or not the sale occurred…in 2018 or 2019.…If it occurred in 2018, we could spit out the sale amount.…
If the sale did not occur in 2018,…we could spit out zero.…
- List the most common tasks and approaches faced by accountants in their daily lives.
- Determine whether transactions can be exported from Quickbooks to Excel or not.
- Outline the structure that the SUMIF function uses.
- Explain how to measure EBITDA.
- Identify at what level the General Ledger tracks expenses.
- Break down how to construct a business valuation using a cash flow analysis.