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Important Excel Formulae for Accounting

Set 1: Basic Mathematical Functions
SUM: Adds up numbers in a range.
AVERAGE: Calculates the average of numbers in a range.
MIN: Finds the minimum value in a range.
MAX: Finds the maximum value in a range.
COUNT: Counts the number of cells that contain numbers.
Set 2: Conditional Functions
IF: Checks whether a condition is met, and returns one value if true and another if false.
SUMIF: Adds the values in a range that meet specific criteria.
COUNTIF: Counts the number of cells within a range that meet the given condition.
AVERAGEIF: Calculates the average of numbers in a range that meet a specified condition.
IFERROR: Returns a value you specify if a formula evaluates to an error; otherwise, returns the result of the formula.
Set 3: Lookup Functions
VLOOKUP: Looks for a value in the leftmost column of a table, then returns a value in the same row from a column you specify.
HLOOKUP: Looks for a value in the top row of a table and returns the value in the same column from a row you specify.
INDEX: Returns the value of a cell in a table based on the column and row number.
MATCH: Searches for a specified item in a range of cells, and then returns the relative position of that item.
XLOOKUP: Searches a range or an array, and returns an item corresponding to the first match it finds.
Set 4: Date and Time Functions
TODAY: Returns the current date.
NOW: Returns the current date and time.
DATE: Returns the date, given the year, month, and day of the month.
DAY: Returns the day of the month from a date.
MONTH: Returns the month from a date.