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The Corporate Finance InstituteExcelIFERRORTrap and handle errorsvaluevalue_if_errorWhat is the IFERROR Function?The IFERROR Function is categorized under Logical Functions. IFERROR belongsto a group of error-checking functions such as ISERR, ISERROR, IFERROR, andISNA. The function will return a customized result when the result of theformula is an error and a standard result if there is no error.In financial analysis, we need to deal with formulas and data. Often, we will geterrors in cells with a formula. IFERROR is used to trap and handle errorsproduced by other formulas and functions. It handles errors such as #N/A,#VALUE!, #REF!, #DIV/0!, #NUM!, #NAME?, or #NULL!.For example, the formula in C2 is A2/B2, where:Instead of the resulting error, we can use IFERROR to return a customizedmessage such as “Invalid input.”Formula=IFERROR(value,value_if_error)The IFERROR Function uses the following arguments:1. Value (required argument) – It is the expression or value that needs to betested. It is generally provided as a cell address.2. Value_if_error (required argument) – The value that will be returned if theformula evaluates to an error.To learn more, launch our free Excel crash course now!How to use the IFERROR Function in Excel?As a worksheet function, IFERROR can be entered as part of a formula in a cellof a worksheet.To understand the uses of the function, let’s consider a few examples:corporatefinanceinstitute.com106
The Corporate Finance Institute ExcelExample 1Suppose we are given the following data:Using the ISERROR formula, we can remove these errors. We will put acustomized message – “Invalid data.” The formula to be used is:We will get the result below:corporatefinanceinstitute.com107
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