The NetSuite Accountant

Using SUMIFS for long-range planning cost assumptions

Paul Giese Jan 7, 2019 5:30:00 AM
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Excel's SUMIFS formula is a simple but powerful function that any model-builder should understand. The logic is simple. The first argument is the range that the user wants to be added. The next argument pair is the criteria range and the accepted criterion required to add the value in the sum range.

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What is a Long Range Plan, Budget and Forecast?

Paul Giese Jun 21, 2018 5:00:00 AM
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Are you a growing biotech organization looking to upgrade your accounting software? Check out our NetSuite Implementation Resource page for guides and help articles on starting the review for proposal (RFP) process.

You might think that a long-range plan (LRP), budget, and forecast are interchangeable. The differences were hazy to me until I started working in a financial planning and analysis (FP&A) role. Below, I discuss how each of these tools ensures financial and strategic success.

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Long range planning and the biotech pitchdeck

Paul Giese Jun 19, 2018 6:37:25 PM
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Bruce Booth, a partner at Atlas Ventures, has a great article for biotech entrepreneurs preparing a pitch deck. Tip 7 addresses preparing a long range plan with likely liquidity paths for potential investors and shareholders. Below I comment on how intheBlk's Long Range Planning (LRP tool) can help you prepare this portion of your pitch deck:

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Start with Assumptions

Paul Giese Jun 19, 2018 6:14:15 PM
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Key assumptions are the foundation of any model. Modelers should focus the majority of their effort compiling and validating key assumptions. In addition, assumptions need to be clearly communicated so users know the framework the model is built around.

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