Category: Finance

Finance is not just about the management of money. It covers broader subjects that include, accounting, taxation , investments, analysis, etc.

How to do Lookup in Excel and Power Query

October 6, 2022 / / 0 Comments

Lookup in regular Excel function

The XLOOKUP function has been available to Office 365 and Excel 2021. For compatibility purposes with my workbook’s potential users, I shy away from using this function. Instead, I use the combination of INDEX and MATCH.

Why not VLOOKUP?

I’m not sure if there are any hardware efficiency benefit from using INDEX and MATCH over VLOOKUP or HLOOKUP. But I use INDEX and MATCH primarily for two reasons:

  1. Ability to return the value of the column to the left of your lookup array (left-most column of the table array)
  2. Never worry about adding a column between the returned column and the lookup array. Remember, you indicate the column index number being the returned column from your table array? What if you’ve not touched your file for a long time, return to it and inserting a column in a table, forgetting that you’ve used that table as a table array as a lookup somewhere in your worksheet? You’ll certainly break your VLOOKUP formula.

How to use these formulas

Sorry, but you have to look somewhere else for the usage of these formulas.

Lookup in Power Query

Power Query Lookup Sample File

To better demonstrate the functions, it’s better if we refer to a sample file:
Continue reading

BDO Online Mobile ‘ADD DEVICE’ Message Sending Failed

October 5, 2022 / / 5 Comments

Did I already tell you how awful and trash-worthy BDO Online Banking is? Yet, no matter how bad it is, it has been your bank of choice, because you thought they find ways.

Installing the Mobile App

You installed the mobile app, and done with your mobile app only password. When you login, it asks for your OTP. But instead of receiving the OTP directly, you received a message from (02) 25678 that you need to reply with ‘ADD DEVICE’ instead. Only then will they text you your OTP.

But replying with ‘ADD DEVICE’ the message failed sending no matter how many times you tried.

The Solution

Instead of solving the problem directly, BDO Unibank offered a solution in a Facebook comment, which involves:
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Sometimes it pays to keep Index and Match to yourself

August 13, 2020 / / 0 Comments

To me, Index and Match functions combined is so much better than VLookUp. But sometimes, that fact is better kept to myself rather than trying to convert others. Saves me a lot of headache.

Please, don’t get me started on XLOOKUP. Compatibility issues is a serious concern.

So, are you Team Index and Match or Team VLookUp?

The Ridiculously Exaggerated and Overrated YNAB Savings

April 4, 2019 / / 0 Comments

With Dropbox gone the 3-Device Limit route, I needed to re-evaluate my YNAB Classic use.

YNAB has obviously abandoned the classic app in favor of its online, subscription-based platform. But the YNAB classic, at least the mobile app, only supports Dropbox for its cloud sync option — no Google Drive, no OneDrive.

Looking at my options, though, I came across the YNAB pricing, and the page suggests a ridiculously exaggerated savings of US$6,000 — that’s only in the first year, the YNAB culture can bring you:If you’re a common Filipino earning in Philippine Pesos, the $6,000 would probably be more than what you’ll ever earn in a year. If it ain’t ridiculous, tell me what that is.

Yet, if you’re an upper-middle class Filipino earning way more than that, the $84 per year fee is still not worth it. There ought to be a better free alternative.

TRAIN and Pick-up Trucks

January 8, 2018 / / 0 Comments

Top Gear Philippines posted the new 2018 price list of the Toyota cars line-up, after the effectivity of the TRAIN (Tax Reform for Acceleration and Inclusion) law. Yes, as expected, expensive and/or luxury cars either retained or even decreased their selling prices. But the more interesting observation is how pick-up trucks, i.e., the Hilux lineup, saw decreased prices as well, regardless of the original price.

I still can’t surmise why pick-ups have to benefit from this law? Please, someone, explain it to me.

How would you like to be an ACPA?

March 3, 2016 / / 0 Comments

If you are a Philippine CPA, did you know that you may now apply for the ACPA (Asean Chartered Professional Accountant) title? Jun Cuaresma writes, in The Manila Times article, “And the Asean CPA is born . . .”

To get the ACPA title, the provisions of the recognition agreement state that Filipino CPAs have to undergo initial qualification and eligibility screenings through the local Board of Accountancy (BoA) and/or the Philippine Institute of CPAs and then the ACPA Coordinating Committee would make the final approval.

Upon successful approval, the Filipino CPA will acquire the ACPA title and be accorded as a Registered Foreign Professional Accountant (RFPA) who then can, in all other nine Asean member states: (1) work as consultant or employee of commercial, industrial or educational entities, or (2) work as external auditor but in collaboration with designated external auditing firms in the host country.

Currently, Filipino CPAs can already work as accountants, auditors, consultants, etc., in countries among the Asean member countries and beyond, even without the ACPA title. Thus, I can’t imagine how this title can enhance one’s résumé.

So, unless a new and separate governing body is tasked to conduct qualifying exams (board exams) in lieu of the PRC (Professional Regulation Commission), I can’t see how else Filipino accountants will flock to acquire this title.

The (almost) two decades old graduated tax table that defies inflation

September 22, 2015 / / 0 Comments

Back in 2008 (7 years ago!), I called for a major revamp of the ‘then’ decade old and obsolete tax law, specifically for the part pertaining to individual income taxes. Since then, minor revisions were made, like the exemption of minimum wage earners and adjusting the 13th month pay and other benefits ceiling excluded from the computation of gross income.

[Read: Rappler—Aquino signs law raising tax exemption cap for bonuses.]

NIRC of 1997

National Internal Revenue Code of 1997 book July 2009 Edition by Danilo A. Duncano. This book may need revisions, but not as much as that of the law itself.

Yet, the gist of individual income taxation remains, that is — the (almost) two decades old graduated tax table that defies inflation. Continue reading

Deception

November 20, 2011 / / 0 Comments

The life of an accountant[1. In this context, we will refer to all accountants in different fields/practices as accountants, including general accountants, auditors, tax practitioners, finance, etc. ] is boring. Let me tell you why:

We have seen blockbuster movies telling stories about the lives of lawyers, doctors, military and police personnel, sales people, and even stock brokers. But how many movies have you seen that feature the main character playing the role of an accountant?

Not too many, right? That is, if you can remember one at all. The life of an accountant is so dull that scriptwriters can hardly think of an interesting storyline about it.

However, in the 2008 movie, “Deception“, starring Ewan McGregor (as Jonathan McQuarry), Hugh Jackman (as Wyatt Bose), and Michelle Williams (as S):

An accountant is introduced to a mysterious sex club known as The List by his lawyer friend. But in this new world, he soon becomes the prime suspect in a woman’s disappearance and a multi-million dollar heist.

Source: IMDB

Ewan McGregor played the role of an Audit Manager for a fictional accounting firm “Worth & Berman”. Yet, the movie paints a typical accountant/auditor as living a boring life, working late most of the times, zero social life, and a monotonous home-work-home routine. I believe the movie even portrays accounting as not-so-lucrative profession. Continue reading