1.4 Further Comments on Conditionality and Flags
The model used in the last section can be extended to add a numerical flag field (row 7), which is used to indicate whether – in each year – a revenue target (defined in cell E7) has been met or not. Clearly, the flag field uses the IF function:
Note that in practice, it would often be useful to be able to identify which period this target is met for the first time. The result of doing so is shown in cell D7 (i.e. that the target is first met in period 4 of the model):
However, the method to implement the above in the most effective way requires Lookup functions (such as MATCH or XMATCH), which are covered in Level II materials.