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.

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.

Dashboards are my favorite thing to create in Microsoft Excel...

and when set up correctly, they add a ton of value to a presentation

Here is how I build Dashboards using just 8 steps... Step 1: Import your data

This can be anything...

but most commonly, it involves your:

1. Profit & Loss
2. Balance Sheet

from there you can get your cash flows via the indirect method

other areas to import can be revenue, headcount, and other KPIs

Two elements can fund your business...

but each has their tradeoffs

𝗗𝗲𝗯𝘁 𝘃𝘀 𝗘𝗾𝘂𝗶𝘁𝘆

Learn more about them here... 𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘁𝗵𝗲𝘆?

𝗗𝗲𝗯𝘁 ➡️ Money lent by creditors who will eventually be paid back with interest

𝗘𝗾𝘂𝗶𝘁𝘆 ➡️Money invested in exchange for ownership in the company

Dashboards are my favorite thing to create in Microsoft Excel...

and when set up correctly, they add a ton of value to a presentation

Here is how I build Dashboards using just 8 steps... Step 1: Import your data

This can be anything...

but most commonly, it involves your:

1. Profit & Loss
2. Balance Sheet

from there you can get your cash flows via the indirect method

other areas to import can be revenue, headcount, and other KPIs

This post contains EVERYTHING you can do in excel 😱👇

Excel continues to be the #1 tool used for Finance & Accounting professionals…

and for good reason.

With excel, there are pretty much no limits to what you can accomplish.

Let’s do a walk through it all 👀 : 📁 File → access & manage key areas of your workbook

This is where most people start out when they open an excel file…

here you can create a new file…open an existing file..

access a template…or access key options.

Learn about the 3 financial statements, and how they are all connected

In just a few minutes, I'm going to teach you the most important concepts behind the Financial Statements...

and we're going to have a TON of fun along the way... The 3 financial statements are:

1. The Profit & Loss
2. The Balance Sheet
3. The Statement of Cash Flows

You may also hear of the Statement of Changes in Equity, and Notes to the financial statements, but those aren't as commonly included

The ABCs of Excel 🔠

Sing along with me and learn Excel... 🎶 A
Alt
Press "Alt" to access Excel's Ribbon shortcuts for quick navigation and task execution.

B
Bar Chart
One of the most popular ways to display data via a chat with an X and Y-axis

C
Conditional Formatting
Automatically formats cells based on specified criteria

This is the MOST POPULAR function in Excel 😱

In fact…it’s probably the most popular function in all of computer programming 🤯

Ofc,I’m talking about the IF Function…

And today we’re going to do a deep dive on how it works…

(stick till the end to get my free worksheet) =IF

This one is really simple to understand…

IF this condition is True…

return the first argument…

ELSE…

Return the 2nd argument

Here is one of the most popular function types in excel

and there are many different methods available…

Here's the 7 Lookup functions in Excel 🔍

A lookup function allows you to get an exact value from a range, based off of inputs. 1️⃣ =VLOOKUP

Everyone has heard of a VLOOKUP function…

and many are still using it…even though there are much better functions available

This works by taking a range of data, and finding your lookup value by analyzing a VERTICAL range

This post contains EVERYTHING you can do in excel 😱👇

Excel continues to be the #1 tool used for Finance & Accounting professionals…

and for good reason.

With excel, there are pretty much no limits to what you can accomplish.

Let’s do a walk through it all 👀 : 📁 File → access & manage key areas of your workbook

This is where most people start out when they open an excel file…

here you can create a new file…open an existing file..

access a template…or access key options.

If you're looking for a bright future ahead

Learn about Inventory accounting with me

Here is what you need to know: ➡️ What it means

Goods that will be converted into finished products to be sold to consumers

➡️ Where it shows up

On the current assets section of the balance sheet

The Comparison Profit & Loss..

one of the most insightful reports out there.

Running a comparison profit & loss is a HUGE value add with financial reporting.

There are tons of benefits…

Let's dive in...

(stick till the end to get my free worksheet) ➡️ Comparison against budget

one of my favorite…

you may not be able to get to 0 variances…

but you get the opportunity to tell the story of what happened, compared to what you thought would happen.

The better of a story you can tell, the more confidence the team will have

Do you know the difference between Gross Profit, Net Income, EBITDA, and Cash Flows?

Learn all about it over here ... 𝗚𝗿𝗼𝘀𝘀 𝗽𝗿𝗼𝗳𝗶𝘁

This is the amount that’s left over from your revenue after you subtract the cost to deliver your product or service

CASH is KING 👑

but before you wear the crown, you must know everything about it

Let's do a deep dive on 13 cash flow formulas 👇 1. Operating Cash Flow (OCF)

Formula → OCF = Net Income + Depreciation + Amortization + Other Non-Cash Items - Changes in Working Capital

What it means → A measure of a company's cash inflows and outflows from its primary business activities.

Dashboards are my favorite thing to create in Microsoft Excel...

and when set up correctly, they add a ton of value to a presentation

Here is how I build Dashboards using just 8 steps... Step 1: Import your data

This can be anything...

but most commonly, it involves your:
1. Profit & Loss 2. Balance Sheet

from there you can get your cash flows via the indirect method

other areas to import can be revenue, headcount, and other KPIs

𝗧𝗵𝗲 𝗦𝘂𝗽𝗲𝗿𝗵𝗲𝗿𝗼 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗥𝗲𝗽𝗼𝗿𝘁𝘀

Each report tells you something different about what's happening in your business

Together, they make up your Financial Reporting

Learn about each of them here: 𝗖𝗵𝗮𝗿𝘁 𝗼𝗳 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝘀

The names of the accounts that show up on your financial statements

12 Ways to present a P&L

Learn more about all of them.. 1️⃣📔 𝗔𝗖𝗖𝗥𝗨𝗔𝗟 𝗯𝗮𝘀𝗶𝘀

❔What it is → showcases income when earned, expenses when incurred

💡 Why it’s valuable → gives you a more practical understanding of what’s actually happening

Start a business in 2024
There’s never been a better time to do it…

but before you get cracking on your billion dollar idea…

you’ll need to form a company.

But which one is the right one for you to form?

This thread has got you covered

Let’s dive into it... ➡️ CONSIDERATIONS

The right company for you to form is dependent on a bunch of factors…

such as:

• Level of protection (liability)

• Tax structure

• # Shareholders / Ease of transferability of shares

Here is one of the most popular function types in excel

and there are many different methods available…

Here's the 7 Lookup functions in Excel 🔍

A lookup function allows you to get an exact value from a range, based off of inputs. 1️⃣ =VLOOKUP

Everyone has heard of a VLOOKUP function…

and many are still using it…even though there are much better functions available

This works by taking a range of data, and finding your lookup value by analyzing a VERTICAL range

Learn about the 3 financial statements, and how they are all connected

In just a few minutes, I'm going to teach you the most important concepts behind the Financial Statements...

and we're going to have a TON of fun along the way... The 3 financial statements are:

1. The Profit & Loss
2. The Balance Sheet
3. The Statement of Cash Flows

You may also hear of the Statement of Changes in Equity, and Notes to the financial statements, but those aren't as commonly included

If you're looking for a bright future ahead

Learn about Inventory accounting with me

Here is what you need to know: ➡️ What it means

Goods that will be converted into finished products to be sold to consumers

➡️ Where it shows up

On the current assets section of the balance sheet