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The Corporate Finance Institute ExcelExample 2 – IFS vs nested IF functionPrior to the introduction of the IFS function, we used to use nested IF function.Let’s see how the IFS function is superior to nested IF. Let’s assume we wish togive discounts to customers based on their total purchases from us. So, acustomer would get 5% discount for purchases more than $100 but less than$500, 10% discount if he made purchases of more than $500 but less than$750, 20% if he made purchases of more than $750 but less than $1,000 and30% for all purchases above $1,000.Let’s see the formula when we would have used nested IF function:Now, let’s see how it becomes easy to write the formula for same results usingIFS:Hence, IFS is easier as it allows using a single function to input a series oflogical tests. It becomes cumbersome in the nested IF function, especially whenwe use a large number of logical tests.corporatefinanceinstitute.com116
The Corporate Finance Institute ExcelFew pointers on the IFS function1. #N/A Error occurs when no TRUE conditions are found by IFS function.2. #VALUE! Error – We will get this error when the logical_test argumentresolves to a value other than TRUE or FALSE.3. “You’ve entered too few arguments for this function” error message – Thismessage appears when we provide a logical_test argument without acorresponding value.Click here to download the sample Excel filecorporatefinanceinstitute.com117
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