2010 Excel Advanced Manual as of March 2010

EEXXCCEELL FFOORR AADDVVAANNCCEEDD

UUSSEERRSS

J. Carlton CollinsASA Research - Atlanta, Georgia

770.734.0950 [email protected]

A S A R e s e a r c h

www.ExcelAdvisor.net Page2 CopyrightMarch2010

TableofContents

CourseInformation......................................................................................3Chapter1ExcelAdvancedConcepts..........................................................4Chapter2Excel&theInternet...................................................................9Chapter3Functions.................................................................................18Chapter4The=IFFunctions.....................................................................37Chapter5UsingFunctionstoClean&Crunchdata.................................42Chapter6DataCommands......................................................................58Chapter7Macros.....................................................................................95Chapter8Solver.....................................................................................100Chapter9ExampleCaseStudies............................................................103

1. GanttChart 1042. ComboChart 1053. OrganizationalChart 1064. PortfolioInvestmentMixandPerformanceTracking 107

Chapter10DiggingDeeperintoExcelsFundamentals..........................122Chapter11XML......................................................................................128Chapter12UsingExcelwithYourAccountingSystem...........................136AppendixInstructorsBiography............................................................173CourseEvaluationForm............................................................................175


2010ExcelAdvancedCourseInformation

LearningObjectives ToincreasetheproductivityofaccountantsandCPAsusing

ExcelbyintroducingthemtoadvancedcapabilitieswithinExcelCourseLevel AdvancedPreRequisites GoodFamiliaritywithMicrosoftExcelAdvancedPreparation NonePresentationMethod LivelectureusingfullcolorprojectionsystemsandliveInternet

accesswithfollowupcoursematerials

RecommendedCPECredit 8hoursHandouts Templates,checklists,webexamples,manualInstructors J.CarltonCollins,CPA

AdvisorCPE isregisteredwiththeNationalAssociationofStateBoards of Accountancy (NASBA) as a sponsor of continuingprofessional education on the National Registry of CPESponsors.Stateboardsofaccountancyhave finalauthorityontheacceptanceof individualcoursesforCPEcredit.ComplaintsregardingregisteredsponsorsmaybeaddressedtothenationalRegistry of CPE Sponsors, 150 Fourth Avenue, Nashville, TN,372192417.Telephone:6158804200.

CopyrightJune2010,AdvisorCPEandAccountingSoftwareAdvisor,LLC4480MissendellLane,Norcross,Georgia30092770.734.0450

Allrightsreserved.Nopartofthispublicationmaybereproducedortransmittedinanyformwithouttheexpresswritten consent of AdvisorCPE, a subsidiary of ASA Research. Request may be emailed [email protected] or further information can be obtained by calling 770.734.0450 or by accessing theAdvisorCPEhomepageat:http://www.advisorcpe.com/Alltradenamesandtrademarksusedinthesematerialsarethepropertyoftheirrespectivemanufacturersand/orowners.Theuseoftradenamesandtrademarksusedinthesematerialsarenotintendedtoconveyendorsementof any other affiliations with these materials. Any abbreviations used herein are solely for the readersconvenience and arenot intended to compromise any trademarks. Someof the featuresdiscussedwithin thismanualapplyonlytocertainversionsofExcel,andfromtimetotime,Microsoftmightremovesomefunctionality.Microsoft Excel is known to contain numerous software bugswhichmay prevent the successful use of somefeatures insomecases.AdvisorCPEmakesnorepresentationsorwarrantywithrespecttothecontentsofthesematerialsanddisclaimsanyimpliedwarrantiesofmerchantabilityoffitnessforanyparticularuse.Thecontentsofthesematerialsaresubjecttochangewithoutnotice.

ContactInformation:

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770.734.0950


Chapter 1

Excel Advanced Concepts


1. EMailMergefromExcel

a. Demonstrate

2. Validationa. DropDownListb. Dates,WholeNumbers,Decimalsc. CommentsAlso:a. ColorofDataInputCellsb. =TODAYc. =VLOOKUPd. Macro&MacroButtons

3. Macros

a. CreatePageSetupMacroa. Simplyturnonmacrorecording,presskeys,turnoffmacrorecordingb. NoSpacesallowedinmacronamec. Assignmacrotoiconorobjectforeasyaccess

b. Recordinworkbookvs.personalmacroworkbookc. Absolutevs.relativereferenced. CreateanEraseMacroe. CreateaPrintMacrof. CreateMacroButtonsg. ShowDeveloperTabh. IntroductiontoVBA(Nottoodeep)i. InsertVBAelementsintoExcelComboBoxj. DisplaystheMacrodialogboxALT+F8k. DisplaystheVisualBasicEditorALT+F11

4. Hyperlinks

a. Textb. Objectsc. TextBoxd. Iconse. ToWebSitesf. ToEmailAddressesg. ToBookmarksh. ToOtherFiles

5. AdministrativePage

a. Title,Company,Date,Notes,ReviewNotes,Etc.b. TableofContents(Linkedtoworksheets,namedrangesandotherdocuments)c. MacroButtons


6. Protection

a. LockedCellsb. HiddenCellsc. ProtectSheet(ReviewRibbon)d. ProtectSheetOptions

7. Encryption(PasswordProtection)

a. SaveAs,Tools,GeneralOptions(InExcel2003)b. 40Bitvs128Bit(in2003Only)c. ExplainingBitsandEncryption

8. FormulaAuditing

a. CTRL+~b. FormulaAuditingToolBarc. Precedents&Dd. Dependentse. Linkstootherworksheetsorworkbooks

9. GanttChart

a. Startbycreatingastackedbarchartb. RemovetheDataSeriesbyrightmouseclickingandchoosingSelectDataSourcec. AddanewDataSourceNamedStartingDate,andpointtotherangeofstartdates

forthevaluesd. AddanothernewdatasourcenamedDuration(Days),andpointtotherangeof

durationdaysforthevaluese. AddCategoryAxisLabelsandpointtotheTasknamesinColumnAf. RemovelegendbyselectinglegendandpressingtheDeletekeyg. ClickonthebeginningseriesandsettheFillandBorderstoNoneh. Rightmouseclickonthetasklabels,chooseformatAxis,andchecktheCategories

inReverseOrderbox(ifneeded)i. Intwoblankcells,writeaformulareferencingthestartandenddates,convert

thesedatestonumberswithformattingj. UsetheresultingnumberstosetthescaleoftheGanttChart(perhapsusea

slightlylargerrangeofdates)k. Rightmouseclickonthedaterange,settheminimumandmaximumstofixed

usingthenumbersacquiredintheabovestepl. Formatthedaterangetoshowashortdatem. Formattheremainingdatabarstodisplaya3Dbeveln. Foraddedtouch,searchGoogleimagesforanicepictureofahouse,saveitto

yourharddrive.o. Setthebackgroundplotareatopicture,andwashoutthepictureenoughsothat

thechartisstillreadable.p. AddatitleortextboxesasneededtocompletethedescriptionoftheGanttChart


10. WebQueries

a. StockPortfolioExampleb. LinktoTickerSymbolsc. LinkResultstoPortfoliod. Refreshe. RefreshAll

11. PrecisionasDisplayed

a. Exampleb. WorstDialogBoxc. AutoRoundingandTruncating

12. LinearRegressionAnalysis

a. SimpleExampleb. LinearRegressionExplainedc. MoreComplexExample

13. Tabs

a. Renameb. Colorc. Reorderd. SelectMultiplee. DuplicatewithCTRL+Drag

14. Excel2007

a. ThreeCategoriesofImprovementsa. LargerCapacityb. Newmenusc. PresentationQualityOutput

b. Demonstrate:

a. RecentDocumentsb. PushPinsc. DataBarFormattingd. TrafficLightFormattinge. PictureSupportf. ChartImprovementsg. AnimateExcelChartsinPPTbySeriesh. SmartArti. NewHeaders&FootersControlsj. ContextualMenusk. QuickAccessToolBarl. PDFversusXPSformats


m. WatchWindow15. SetupOptions

a. Alwaysshowfullmenusb. Uncheckmoveonenterc. Turnontransitionkeyssohomekeytakesyouhome

16. FillinMissingData

a.Bycopyingformulatoblankcells b.SimpleExample c.QuickBooksExample

17. OLEObjectLininganEmbedding(OLE)a. SimpleExampleOrganizationalChartb. SimpleExampleWaveSoundc. SimpleExampleVideoClipd. ExcelembeddedintoWorde. WordEmbeddedintoExcel

18. FileLinking

a. Copypasteb. CopypasteLinkc. CopypasteLinkasPictured. CopypasteasObject

19. SUMIF

20. VLOOKUPExample

21. LoanAmortizationScheduleexample22. ConsolidateSimilarBudgetsExample23. ConsolidateDisSimilarBudgetsExample

24. ScenarioManager25. Solver

26. GetExcel2007for$299ActionPack

27. ComboCharts


Chapter 2

Excel & The Internet


EXCELANDTHEINTERNETListedbeloware9goodwaysinwhichExcelandtheInternetcanworktogether,asfollows:

1. Copy/PasteInternetdataintoExcel(SimpleIknow,butthereareafewtricks).2. EMailpartofanExcelfileacrosstheInternet.3. EMailtheentireExcelfileacrosstheInternet.4. SaveanExcelFiletotheInternet(AgoodwaytosharealargeExcelfile).5. PublishpartofanExcelfileasanwebpage.6. PublishanentireExcelfileasawebpage.7. PublishanentireExcelfileasawebpagewithAutorepublishing8. WebQueriesLinkingInternetDatatoExcel.9. EmbeddedHyperlinks(towebpages,emailaddresses)

Thesebulletpointsarediscussedinmoredetailbelow.Copy/PasteInternetDataintoExcelAsanexercise,searchthewebforyourfavoriteFootballteam roster on rivals.com.Copy and paste the schedule into Excel.Now tellme howmanyplayerscame fromeachstateandwhat theaverageweight is foreachposition.Simplehuh?Herearefivepointerstokeepinmind:

Selectinginternetdatafromthebottomrighttotheupperleftisusuallyeasierthantheotherwayaround.

Making columnswiderbeforepasting Internetdata into Excel keeps the rowheightsfromtakingoff.

Eliminatinghyperlinksindataisusuallyfasterifyoucopyandpastespecialasvaluestoanotherblankcolumn.

Often youmust parse Internet data before you canmanipulate it.Do this using the=Left,=Find,=MID,and=RIGHTfunctions.

Onceparsed,turnonautofiltersandapplythesubtotalingcommandtoyieldtheresultsyouseek.


EMailpartofanExcel fileacross the Internet Excelprovides theability toemaila singleworksheetwithinaworkbookasanemail.ThisfeatureisfoundintheFile,SendTomenuofexcel2003andearlier,and isanonribbontoolwhichyoumustaddtotheQuickAccessToolbarinExcel2007andlater.HereswhatthetoollookslikeinalleditionsofExcel.

EMailtheentireExcelfileacrosstheInternetOfcoursethissametoolmentionedabovecanbeusedtoemailtheentireExcelfileaswell.Thedifferenceisthatwiththisoption,theExcelworkbookarrivesattherecipientasacompletestandaloneexcel filewhichtherecipientcanopen.Whenaworksheetissentinthismanner,itarrivesasatableinthebodyoftheemailtherearenoformulas,justnumbers.Save an Excel File to the Internet Another option is to simply save a passwordprotectedExcel filetoawebserver.This isaccomplishedusingtheSaveas function,andspecifyingtheserverwhere the file is to be saved. Of course youwill valid user name and password tocompletethetransactionasshowbelow.TheprimaryadvantagetothismethodisthatitallowsyoutosharealargeExcelfilethatistoobigtobesentviaemail(mostemailservicesprohibitattachmentsgreaterthan10MBs.ThisapproachalsoallowsyoutoshareyourExcelfilewithothers,orevenwithyourselfifyouplantoworkonthefilefurtherfromyourhomecomputer.

PublishPartofanExcelfileasanWebPageExcelenablesyoutopublishaselectionofcellsasawebpageinanHTMLformat.Todothis,simplychangetheSaveAsTypetoWebPageasshowninthescreenbelow.


Ofcoursetoaccomplishthistask,youwillneedaccesstowebsiteviausernameandpassword.PublishanentireExcelfileasaWebPageExcelcanalsoautomaticallyconvertyourentireworkbooktoanHTMLpage formatandpublish ittothewebsavingyoua largeamountoftimeintheprocess.PublishanentireExcel fileasawebpagewithAutorepublishingAn interesting feature istheAutoRepublishfeaturethatautomaticallyupdatesyourwebbasedExceldatawheneveritchangesinyourExcelworkbook.Toenablethisfeature,simplechecktheAutoRepublisheverytimethisworkbookissavedcheckboxasshownbelow.

SpecialNotere:PasswordprotectingDataonthe Internet WhenpublishingExceldataasawebpage,there isnoExceloptionforpasswordprotectingthedata,butyoucanachievethesame resultsby saving thepublishing thedata to apasswordprotected folderon yourwebserver.Todothis,useawebpublishingtool(suchasDreamweaverorExpressionWeb)toopenyourwebserver.Createanewfolderandconvertittoasubweb.Nowyoucanusethetools


optionstoapplypermissionstothatfolder.(CaveatonlyUNIXbasedwebserversallowyoutoapplythesetypeofpermissions,Windowsbasedwebserversdonot).WebQueriesExcelincludespredesignedqueriesthatcanimportcommonlyuseddatain10seconds.Forexample,youcoulduseawebquerytocreateastockportfolio.AllyouneedisaconnectiontotheInternetandofcourse,somestocktickersymbols.InExcel2003selectData,ImportExternalData,ImportDataandwalkthroughthewebquerywizardforimportingstockquotes.InExcel2007andlaterusetheDataRibbon,ExistingConnections,StockQuotesoption.Inseconds,Excelwillretrieve20minutedelayedstockpricesfromtheweb(duringthehourswhen the stock market is open) and display a grid of complete uptodate stick priceinformationthatissynchronizedtothestockmarketschangingstockprices.WitheachclickoftheRefreshbutton,thestockprice information inExcel isupdated thissurebeatspickingnumbersoutofthenewspaper.

CompletingtheStockPortfolioNextlinkthegriddatatoanotherworksheet,andinsertnewcolumnscontainingthenumberofsharesowned,aswellsasanadditionalcolumntocomputerthetotalvaluebasedonsharesowned,asshownbelow.


Refreshing theStockPrices Onceyouhave createdyourportfolio, simply click theRefreshDatabuttonontheExternalDataToolbarinExcel2003orontheDataRibboninExcel2007shownbelowtoupdatethecurrentvalueofyourPortfolio.

QueryParametersTherearenumerousoptionstohelpyouextractexactlythedatayouwantthey way you want it. The Web Query Parameters Box, Web Query Options box andExternalDataPropertiesBoxprovidenumerousoptionsforcontrollingyourwebquery.

QueryAnyWebPageYoucanqueryanywebpageon thewebusing thenewwebQueryOption.Allowmetodemonstrateasimpleexample.EmbeddedHyperlinksAnotherway touseExcelwith the Internet is to insethyperlinks towebpagesoremailaddresses.NoticeincellC7thatIhaveinsertedmultipleemailaddressesyesthisworksjustfine.

MicrosoftExcelHistory


Microsoftbegan sellinga spreadsheetapplicationcalledMultiplan in1982 forCP/M systemslike theOsboune computer.However,on theMSDOSplatform Lotus 123was themarketleader. Microsoft released Excel for the Mac in 1985, and Excel for Windows version inNovember,1987.LotuswasslowtoreleaseaWindowsversionof123andby1988Excelwasoutselling 123. Later IBM purchased Lotus Development Corporation and is typical withsoftwareownedby IBM, theproductspresencediminished in themarketplace.Officially thecurrentversion fortheWindowsplatform isExcel12,alsocalledMicrosoftOfficeExcel2007.ThecurrentversionfortheMacOSXplatformisMicrosoftExcel2008.

MicrosoftExcel2.1includedaruntimeversionofWindows2.1AFewCommentsaboutExcel:

1. Trademark Dispute In 1993, another company thatwas already selling a software

packagenamed"Excel" inthefinance industryExcelbecamefiledatrademark lawsuit.Eventually, this forcedMicrosoft to refer to the program as "Microsoft Excel". LaterMicrosoftpurchasedthetrademarkrights.

2. FormattingExcelwasthefirstelectronicspreadsheetthatallowedtheusertodefinetheappearanceofspreadsheets(fonts,characterattributesandcellappearance).

3. Recomputation It also introduced intelligent cell recomputation, where only cellsdependent on the cell being modified are updated (previous spreadsheet programsrecomputedeverythingallthetimeorwaitedforaspecificusercommand).


4. VBASince1993,ExcelhasincludedVisualBasicforApplications(VBA),aprogramminglanguagebasedonVisualBasicwhichaddstheabilitytoautomatetasksinExcelandtoprovideuserdefinedfunctions(UDF)foruseinworksheets.VBAallowsthecreationofformsandinworksheetcontrolstocommunicatewiththeuser.Thelanguagesupportsuse (but not creation) of ActiveX (COM) DLL's; later versions add support for classmodulesallowingtheuseofbasicobjectorientedprogrammingtechniques.

File Formats Until 2007Microsoft Excelused aproprietarybinary file format calledBinaryInterchangeFileFormat (BIFF)as itsprimary format.Excel2007usesOfficeOpenXMLas itsprimary file format, an XMLbased format that followed after a previous XMLbased formatcalled "XML Spreadsheet" ("XMLSS"), first introduced in Excel2002. The latter format isnotabletoencodeVBAmacros.AlthoughsupportingandencouragingtheuseofnewXMLbasedformats as replacements, Excel 2007 remained backwardscompatible with the traditional,binaryformats.Inaddition,mostversionsofMicrosoftExcelcanreadCSV,DBF,SYLK,DIF,andotherlegacyformats.SupportforsomeolderfileformatswereremovedinExcel2007.ThefileformatsweremainlyfromDOSbasedprograms.

5. Binary Microsoft made the specification of the Excel binary format specification

availableon request,but since February 2008programmers can freelydownload the.XLSformatspecificationandimplementitundertheOpenSpecificationPromisepatentlicensing.[

Standardfileextensions:

Format ExtensionDescription

Spreadsheet .xls Main spreadsheet format which holds data in worksheets,charts,andmacros

Addin(VBA)

.xla Addscustomfunctionality;writteninVBA

Toolbar .xlb

Chart .xlc

Dialog .xld

Archive .xlk

Addin(DLL) .xll Adds custom functionality; written in C++/C, Visual Basic,Fortran,etc.andcompiledintoaspecialdynamiclinklibrary

Macro .xlm

Template .xlt

Module .xlv

Workspace .xlw ArrangementofthewindowsofmultipleWorkbooks


6. OfficeOpenXMLMicrosoftExcel2007,alongwiththeotherproductsintheMicrosoft

Office2007suite, introducesahostofnew file formats.These formpartoftheOfficeOpenXML(OOXML)specification.

NewExcel2007formats

Format ExtensionDescription

ExcelWorkbook

.xlsx The default Excel 2007 workbook format. In reality a ZIPcompressed archivewith adirectory structureofXML textdocuments. Functions as the primary replacement for theformerbinary.xlsformat,althoughitdoesnotsupportExcelmacrosforsecurityreasons.

Excel MacroenabledWorkbook

.xlsm AsExcelWorkbook,butwithmacrosupport.

Excel BinaryWorkbook

.xlsb AsExcelMacroenabledWorkbook,butstoring informationinbinaryformratherthanXMLdocumentsforopeningandsavingespeciallylargedocuments.

Excel MacroenabledTemplate

.xltm A template document that forms a basis for actualworkbooks,withmacrosupport.Thereplacementfortheold.xltformat.

ExcelAddin .xlam Excel addin to add extra functionality and tools. Inherentmacrosupportduetothefilepurpose.

Software Errors Criticismsof spreadsheets in general also apply to Excel. See Spreadsheetshortcomings. Errors specific to Excel include accuracy, date problems and the Excel 2007displayerror.

7. Accuracy Due to Excel's foundation on floating point calculations, the statisticalaccuracyofExcelhasbeencriticizedaslackingcertainstatisticaltools.

8. DateProblems Excel incorrectly treats1900asa leapyear.Thebugoriginated from

Lotus 123, and was purposely implemented in Excel for the purpose of backwardcompatibility. This legacy has later been carried over into Office Open XML fileformat.[citationneeded]Excelalsosupportstheseconddateformatbasedonyear1904epoch.TheExcelDATE()functioncausesproblemswithayearvaluepriorto1900.


Chapter3

Functions


IntroductiontoExcelFunctions

ExcelFunctionsarepreprogrammedcommandsthatmakethetaskofwritingcomplexformulaseasier.Thereareatotalof333functionsinExcel.Thesefunctionsareseparatedinto11categoriesasfollows:

1. DatabaseFunctions(12)2. DateandTimeFunctions(20)3. EngineeringFunctions(39)4. FinancialFunctions(53)5. InformationFunctions(17)6. LogicalFunctions(6)7. LookupandReferenceFunctions(18)8. MathandTrigonometryFunctions(59)9. StatisticalFunctions(80)10. TextFunctions(27)11. ExternalFunctions(2)

SomeExcel functionsaremorepowerful thanothersand somearemore relevant to theCPA thanothers.Forexample,mostCPAswillfindthe IF,SUM,COUNT,SUBTOTAL,TEXT,andVLOOKUPareveryrelevanttotheCPAwhile other engineering and trigonometry functions such as LOG, PI, RADIENS, DELTA, TAN, COMPLEX, andHAX2DECaretypicallylessrelevanttoCPAs.Ithasbeenmyexperiencethatthefollowing67functionsaremostrelevanttotheCPA;thereforeCPAswishingtoincreasetheircommandofExcelfunctionsshouldconcentrateonthesefunctionsfirst.

CarltonsListofTheTop67FunctionsMostRelevanttoCPAsSortedByCarltonsOpinionoftheMostUseful

1. IF 2. SUM 3. SUMIF 4. COUNT 5. COUNTA6. AVERAGE 7. COUNTBLANK 8. COUNTIF 9. VALUE 10. TEXT11. VLOOKUP 12. HLOOKUP 13. LOOKUP 14. TRIM 15. PROPER16. LOWER 17. LEFT,LEFTB 18. MID,MIDB 19. RIGHT, 20. FIND,FINDB21. REPLACE 22. CONCATENATE 23. CLEAN 24. UPPER 25. LEN,LENB26. SUBSTITUTE 27. NOW 28. TODAY 29. MONTH 30. DATE31. DAY 32. YEAR 33. WEEKDAY 34. ROUND 35. ROUNDDOWN36. ROUNDUP 37. MAX 38. MIN 39. MEDIAN 40. MODE41. PERCENTILE 42. PERCENTRANK 43. PMT 44. NPV 45. DSUM46. DCOUNT 47. DCOUNTA 48. AND 49. OR 50. CHOOSE51. TIME 52. FV 53. IRR 54. YIELD 55. CELL56. ERROR.TYPE 57. INFO 58. ISBLANK 59. ISNA 60. GETPIVOTDATA61. HYPERLINK 62. TRANSPOSE 63. ABS 64. RAND 65. RANDBETWEEN66. CONFIDENCE 67. REPT

FollowingisalistofallExcelfunctions,organizedbycategory,includingadescriptionofeachfunction.


DatabaseFunctions

Function Description

1 DAVERAGE Returnstheaverageofselecteddatabaseentries

2 DCOUNT Countsthecellsthatcontainnumbersinadatabase

3 DCOUNTA Countsnonblankcellsinadatabase

4 DGET Extractsfromadatabaseasinglerecordthatmatchesthespecifiedcriteria

5 DMAX Returnsthemaximumvaluefromselecteddatabaseentries

6 DMIN Returnstheminimumvaluefromselecteddatabaseentries

7 DPRODUCT Multipliesthevaluesinaparticularfieldofrecordsthatmatchthecriteriainadatabase

8 DSTDEV Estimatesthestandarddeviationbasedonasampleofselecteddatabaseentries

9 DSTDEVP Calculatesthestandarddeviationbasedontheentirepopulationofselecteddatabaseentries

10 DSUM Addsthenumbersinthefieldcolumnofrecordsinthedatabasethatmatchthecriteria

11 DVAR Estimatesvariancebasedonasamplefromselecteddatabaseentries

12 DVARP Calculatesvariancebasedontheentirepopulationofselecteddatabaseentries

DateandTimeFunctions


13 DATE Returnstheserialnumberofaparticulardate

14 DATEVALUE Convertsadateintheformoftexttoaserialnumber

15 DAY Convertsaserialnumbertoadayofthemonth

16 DAYS360 Calculatesthenumberofdaysbetweentwodatesbasedona360dayyear

17 EDATE Returnstheserialnumberofthedatethatistheindicatednumberofmonths


beforeorafterthestartdate

18 EOMONTH Returnstheserialnumberofthelastdayofthemonthbeforeorafteraspecifiednumberofmonths

19 HOUR Convertsaserialnumbertoanhour

20 MINUTE Convertsaserialnumbertoaminute

21 MONTH Convertsaserialnumbertoamonth

22 NETWORKDAYS Returnsthenumberofwholeworkdaysbetweentwodates

23 NOW Returnstheserialnumberofthecurrentdateandtime

24 SECOND Convertsaserialnumbertoasecond

25 TIME Returnstheserialnumberofaparticulartime

26 TIMEVALUE Convertsatimeintheformoftexttoaserialnumber

27 TODAY Returnstheserialnumberoftoday'sdate

28 WEEKDAY Convertsaserialnumbertoadayoftheweek

29 WEEKNUM Convertsaserialnumbertoanumberrepresentingwheretheweekfallsnumericallywithayear

30 WORKDAY Returnstheserialnumberofthedatebeforeorafteraspecifiednumberofworkdays

31 YEAR Convertsaserialnumbertoayear

32 YEARFRAC Returnstheyearfractionrepresentingthenumberofwholedaysbetweenstart_dateandend_date

EngineeringFunctions


33 BESSELI ReturnsthemodifiedBesselFunctionIn(x)

34 BESSELJ ReturnstheBesselFunctionJn(x)

35 BESSELK ReturnsthemodifiedBesselFunctionKn(x)


36 BESSELY ReturnstheBesselFunctionYn(x)

37 BIN2DEC Convertsabinarynumbertodecimal

38 BIN2HEX Convertsabinarynumbertohexadecimal

39 BIN2OCT Convertsabinarynumbertooctal

40 COMPLEX Convertsrealandimaginarycoefficientsintoacomplexnumber

41 CONVERT Convertsanumberfromonemeasurementsystemtoanother

42 DEC2BIN Convertsadecimalnumbertobinary

43 DEC2HEX Convertsadecimalnumbertohexadecimal

44 DEC2OCT Convertsadecimalnumbertooctal

45 DELTA Testswhethertwovaluesareequal

46 ERF ReturnstheerrorFunction

47 ERFC ReturnsthecomplementaryerrorFunction

48 GESTEP Testswhetheranumberisgreaterthanathresholdvalue

49 HEX2BIN Convertsahexadecimalnumbertobinary

50 HEX2DEC Convertsahexadecimalnumbertodecimal

51 HEX2OCT Convertsahexadecimalnumbertooctal

52 IMABS Returnstheabsolutevalue(modulus)ofacomplexnumber

53 IMAGINARY Returnstheimaginarycoefficientofacomplexnumber

54 IMARGUMENT Returnstheargumenttheta,anangleexpressedinradians

55 IMCONJUGATE Returnsthecomplexconjugateofacomplexnumber

56 IMCOS Returnsthecosineofacomplexnumber

57 IMDIV Returnsthequotientoftwocomplexnumbers

58 IMEXP Returnstheexponentialofacomplexnumber

59 IMLN Returnsthenaturallogarithmofacomplexnumber


60 IMLOG10 Returnsthebase10logarithmofacomplexnumber

61 IMLOG2 Returnsthebase2logarithmofacomplexnumber

62 IMPOWER Returnsacomplexnumberraisedtoanintegerpower

63 IMPRODUCT Returnstheproductoffrom2to29complexnumbers

64 IMREAL Returnstherealcoefficientofacomplexnumber

65 IMSIN Returnsthesineofacomplexnumber

66 IMSQRT Returnsthesquarerootofacomplexnumber

67 IMSUB Returnsthedifferencebetweentwocomplexnumbers

68 IMSUM Returnsthesumofcomplexnumbers

69 OCT2BIN Convertsanoctalnumbertobinary

70 OCT2DEC Convertsanoctalnumbertodecimal

71 OCT2HEX Convertsanoctalnumbertohexadecimal

FinancialFunctions


72 ACCRINT Returnstheaccruedinterestforasecuritythatpaysperiodicinterest

73 ACCRINTM Returnstheaccruedinterestforasecuritythatpaysinterestatmaturity

74 AMORDEGRC Returnsthedepreciationforeachaccountingperiodbyusingadepreciationcoefficient

75 AMORLINC Returnsthedepreciationforeachaccountingperiod

76 COUPDAYBS Returnsthenumberofdaysfromthebeginningofthecouponperiodtothesettlementdate

77 COUPDAYS Returnsthenumberofdaysinthecouponperiodthatcontainsthesettlementdate

78 COUPDAYSNC Returnsthenumberofdaysfromthesettlementdatetothenextcoupondate


79 COUPNCD Returnsthenextcoupondateafterthesettlementdate

80 COUPNUM Returnsthenumberofcouponspayablebetweenthesettlementdateandmaturitydate

81 COUPPCD Returnsthepreviouscoupondatebeforethesettlementdate

82 CUMIPMT Returnsthecumulativeinterestpaidbetweentwoperiods

83 CUMPRINC Returnsthecumulativeprincipalpaidonaloanbetweentwoperiods

84 DB Returnsthedepreciationofanassetforaspecifiedperiodbyusingthefixeddecliningbalancemethod

85 DDB Returnsthedepreciationofanassetforaspecifiedperiodbyusingthedoubledecliningbalancemethodorsomeothermethodthatyouspecify

86 DISC Returnsthediscountrateforasecurity

87 DOLLARDE Convertsadollarprice,expressedasafraction,intoadollarprice,expressedasadecimalnumber

88 DOLLARFR Convertsadollarprice,expressedasadecimalnumber,intoadollarprice,expressedasafraction

89 DURATION Returnstheannualdurationofasecuritywithperiodicinterestpayments

90 EFFECT Returnstheeffectiveannualinterestrate

91 FV Returnsthefuturevalueofaninvestment

92 FVSCHEDULE Returnsthefuturevalueofaninitialprincipalafterapplyingaseriesofcompoundinterestrates

93 INTRATE Returnstheinterestrateforafullyinvestedsecurity

94 IPMT Returnstheinterestpaymentforaninvestmentforagivenperiod

95 IRR Returnstheinternalrateofreturnforaseriesofcashflows

96 ISPMT Calculatestheinterestpaidduringaspecificperiodofaninvestment

97 MDURATION ReturnstheMacauleymodifieddurationforasecuritywithanassumedparvalueof$100

98 MIRR Returnstheinternalrateofreturnwherepositiveandnegativecashflowsarefinancedatdifferentrates


99 NOMINAL Returnstheannualnominalinterestrate

100 NPER Returnsthenumberofperiodsforaninvestment

101 NPV Returnsthenetpresentvalueofaninvestmentbasedonaseriesofperiodiccashflowsandadiscountrate

102 ODDFPRICE Returnsthepriceper$100facevalueofasecuritywithanoddfirstperiod

103 ODDFYIELD Returnstheyieldofasecuritywithanoddfirstperiod

104 ODDLPRICE Returnsthepriceper$100facevalueofasecuritywithanoddlastperiod

105 ODDLYIELD Returnstheyieldofasecuritywithanoddlastperiod

106 PMT Returnstheperiodicpaymentforanannuity

107 PPMT Returnsthepaymentontheprincipalforaninvestmentforagivenperiod

108 PRICE Returnsthepriceper$100facevalueofasecuritythatpaysperiodicinterest

109 PRICEDISC Returnsthepriceper$100facevalueofadiscountedsecurity

110 PRICEMAT Returnsthepriceper$100facevalueofasecuritythatpaysinterestatmaturity

111 PV Returnsthepresentvalueofaninvestment

112 RATE Returnstheinterestrateperperiodofanannuity

113 RECEIVED Returnstheamountreceivedatmaturityforafullyinvestedsecurity

114 SLN Returnsthestraightlinedepreciationofanassetforoneperiod

115 SYD Returnsthesumofyears'digitsdepreciationofanassetforaspecifiedperiod

116 TBILLEQ ReturnsthebondequivalentyieldforaTreasurybill

117 TBILLPRICE Returnsthepriceper$100facevalueforaTreasurybill

118 TBILLYIELD ReturnstheyieldforaTreasurybill

119 VDB Returnsthedepreciationofanassetforaspecifiedorpartialperiodbyusingadecliningbalancemethod

120 XIRR Returnstheinternalrateofreturnforascheduleofcashflowsthatisnot


necessarilyperiodic

121 XNPV Returnsthenetpresentvalueforascheduleofcashflowsthatisnotnecessarilyperiodic

122 YIELD Returnstheyieldonasecuritythatpaysperiodicinterest

123 YIELDDISC Returnstheannualyieldforadiscountedsecurity;forexample,aTreasurybill

124 YIELDMAT Returnstheannualyieldofasecuritythatpaysinterestatmaturity

InformationFunctions


125 CELL Returnsinformationabouttheformatting,location,orcontentsofacell

126 ERROR.TYPE Returnsanumbercorrespondingtoanerrortype

127 INFO Returnsinformationaboutthecurrentoperatingenvironment

128 ISBLANK ReturnsTRUEifthevalueisblank

129 ISERR ReturnsTRUEifthevalueisanyerrorvalueexcept#N/A

130 ISERROR ReturnsTRUEifthevalueisanyerrorvalue

131 ISEVEN ReturnsTRUEifthenumberiseven

132 ISLOGICAL ReturnsTRUEifthevalueisalogicalvalue

133 ISNA ReturnsTRUEifthevalueisthe#N/Aerrorvalue

134 ISNONTEXT ReturnsTRUEifthevalueisnottext

135 ISNUMBER ReturnsTRUEifthevalueisanumber

136 ISODD ReturnsTRUEifthenumberisodd

137 ISREF ReturnsTRUEifthevalueisareference

138 ISTEXT ReturnsTRUEifthevalueistext

139 N Returnsavalueconvertedtoanumber

140 NA Returnstheerrorvalue#N/A


141 TYPE Returnsanumberindicatingthedatatypeofavalue

17

LogicalFunctions


142 AND ReturnsTRUEifallofitsargumentsareTRUE

143 FALSE ReturnsthelogicalvalueFALSE

144 IF Specifiesalogicaltesttoperform

145 NOT Reversesthelogicofitsargument

146 OR ReturnsTRUEifanyargumentisTRUE

147 TRUE ReturnsthelogicalvalueTRUE

LookupandReferenceFunctions


148 ADDRESS Returnsareferenceastexttoasinglecellinaworksheet

149 AREAS Returnsthenumberofareasinareference

150 CHOOSE Choosesavaluefromalistofvalues

151 COLUMN Returnsthecolumnnumberofareference

152 COLUMNS Returnsthenumberofcolumnsinareference

153 GETPIVOTDATA ReturnsdatastoredinaPivotTable

154 HLOOKUP Looksinthetoprowofanarrayandreturnsthevalueoftheindicatedcell

155 HYPERLINK Createsashortcutorjumpthatopensadocumentstoredonanetworkserver,anintranet,ortheInternet

156 INDEX Usesanindextochooseavaluefromareferenceorarray

157 INDIRECT Returnsareferenceindicatedbyatextvalue

158 LOOKUP Looksupvaluesinavectororarray


159 MATCH Looksupvaluesinareferenceorarray

160 OFFSET Returnsareferenceoffsetfromagivenreference

161 ROW Returnstherownumberofareference

162 ROWS Returnsthenumberofrowsinareference

163 RTD RetrievesrealtimedatafromaprogramthatsupportsCOMautomation(Automation:Awaytoworkwithanapplication'sobjectsfromanotherapplicationordevelopmenttool.FormerlycalledOLEAutomation,AutomationisanindustrystandardandafeatureoftheComponentObjectModel(COM).)

164 TRANSPOSE Returnsthetransposeofanarray

165 VLOOKUP Looksinthefirstcolumnofanarrayandmovesacrosstherowtoreturnthevalueofacell

MathandTrigonometryFunctions


166 ABS Returnstheabsolutevalueofanumber

167 ACOS Returnsthearccosineofanumber

168 ACOSH Returnstheinversehyperboliccosineofanumber

169 ASIN Returnsthearcsineofanumber

170 ASINH Returnstheinversehyperbolicsineofanumber

171 ATAN Returnsthearctangentofanumber

172 ATAN2 Returnsthearctangentfromxandycoordinates

173 ATANH Returnstheinversehyperbolictangentofanumber

174 CEILING Roundsanumbertothenearestintegerortothenearestmultipleofsignificance

175 COMBIN Returnsthenumberofcombinationsforagivennumberofobjects

176 COS Returnsthecosineofanumber


177 COSH Returnsthehyperboliccosineofanumber

178 DEGREES Convertsradianstodegrees

179 EVEN Roundsanumberuptothenearesteveninteger

180 EXP Returnseraisedtothepowerofagivennumber

181 FACT Returnsthefactorialofanumber

182 FACTDOUBLE Returnsthedoublefactorialofanumber

183 FLOOR Roundsanumberdown,towardzero

184 GCD Returnsthegreatestcommondivisor

185 INT Roundsanumberdowntothenearestinteger

186 LCM Returnstheleastcommonmultiple

187 LN Returnsthenaturallogarithmofanumber

188 LOG Returnsthelogarithmofanumbertoaspecifiedbase

189 LOG10 Returnsthebase10logarithmofanumber

190 MDETERM Returnsthematrixdeterminantofanarray

191 MINVERSE Returnsthematrixinverseofanarray

192 MMULT Returnsthematrixproductoftwoarrays

193 MOD Returnstheremainderfromdivision

194 MROUND Returnsanumberroundedtothedesiredmultiple

195 MULTINOMIAL Returnsthemultinomialofasetofnumbers

196 ODD Roundsanumberuptothenearestoddinteger

197 PI Returnsthevalueofpi

198 POWER Returnstheresultofanumberraisedtoapower

199 PRODUCT Multipliesitsarguments

200 QUOTIENT Returnstheintegerportionofadivision


201 RADIANS Convertsdegreestoradians

202 RAND Returnsarandomnumberbetween0and1

203 RANDBETWEEN Returnsarandomnumberbetweenthenumbersyouspecify

204 ROMAN Convertsanarabicnumeraltoroman,astext

205 ROUND Roundsanumbertoaspecifiednumberofdigits

206 ROUNDDOWN Roundsanumberdown,towardzero

207 ROUNDUP Roundsanumberup,awayfromzero

208 SERIESSUM Returnsthesumofapowerseriesbasedontheformula

209 SIGN Returnsthesignofanumber

210 SIN Returnsthesineofthegivenangle

211 SINH Returnsthehyperbolicsineofanumber

212 SQRT Returnsapositivesquareroot

213 SQRTPI Returnsthesquarerootof(number*pi)

214 SUBTOTAL Returnsasubtotalinalistordatabase

215 SUM Addsitsarguments

216 SUMIF Addsthecellsspecifiedbyagivencriteria

217 SUMPRODUCT Returnsthesumoftheproductsofcorrespondingarraycomponents

218 SUMSQ Returnsthesumofthesquaresofthearguments

219 SUMX2MY2 Returnsthesumofthedifferenceofsquaresofcorrespondingvaluesintwoarrays

220 SUMX2PY2 Returnsthesumofthesumofsquaresofcorrespondingvaluesintwoarrays

221 SUMXMY2 Returnsthesumofsquaresofdifferencesofcorrespondingvaluesintwoarrays

222 TAN Returnsthetangentofanumber

223 TANH Returnsthehyperbolictangentofanumber


224 TRUNC Truncatesanumbertoaninteger

StatisticalFunctions


225 AVEDEV Returnstheaverageoftheabsolutedeviationsofdatapointsfromtheirmean

226 AVERAGE Returnstheaverageofitsarguments

227 AVERAGEA Returnstheaverageofitsarguments,includingnumbers,text,andlogicalvalues

228 BETADIST ReturnsthebetacumulativedistributionFunction

229 BETAINV ReturnstheinverseofthecumulativedistributionFunctionforaspecifiedbetadistribution

230 BINOMDIST Returnstheindividualtermbinomialdistributionprobability

231 CHIDIST Returnstheonetailedprobabilityofthechisquareddistribution

232 CHIINV Returnstheinverseoftheonetailedprobabilityofthechisquareddistribution

233 CHITEST Returnsthetestforindependence

234 CONFIDENCE Returnstheconfidenceintervalforapopulationmean

235 CORREL Returnsthecorrelationcoefficientbetweentwodatasets

236 COUNT Countshowmanynumbersareinthelistofarguments

237 COUNTA Countshowmanyvaluesareinthelistofarguments

238 COUNTBLANK Countsthenumberofblankcellswithinarange

239 COUNTIF Countsthenumberofnonblankcellswithinarangethatmeetthegivencriteria

240 COVAR Returnscovariance,theaverageoftheproductsofpaireddeviations

241 CRITBINOM Returnsthesmallestvalueforwhichthecumulativebinomialdistributionislessthanorequaltoacriterionvalue


242 DEVSQ Returnsthesumofsquaresofdeviations

243 EXPONDIST Returnstheexponentialdistribution

244 FDIST ReturnstheFprobabilitydistribution

245 FINV ReturnstheinverseoftheFprobabilitydistribution

246 FISHER ReturnstheFishertransformation

247 FISHERINV ReturnstheinverseoftheFishertransformation

248 FORECAST Returnsavaluealongalineartrend

249 FREQUENCY Returnsafrequencydistributionasaverticalarray

250 FTEST ReturnstheresultofanFtest

251 GAMMADIST Returnsthegammadistribution

252 GAMMAINV Returnstheinverseofthegammacumulativedistribution

253 GAMMALN ReturnsthenaturallogarithmofthegammaFunction,(x)

254 GEOMEAN Returnsthegeometricmean

255 GROWTH Returnsvaluesalonganexponentialtrend

256 HARMEAN Returnstheharmonicmean

257 HYPGEOMDIST Returnsthehypergeometricdistribution

258 INTERCEPT Returnstheinterceptofthelinearregressionline

259 KURT Returnsthekurtosisofadataset

260 LARGE Returnsthekthlargestvalueinadataset

261 LINEST Returnstheparametersofalineartrend

262 LOGEST Returnstheparametersofanexponentialtrend

263 LOGINV Returnstheinverseofthelognormaldistribution

264 LOGNORMDIST Returnsthecumulativelognormaldistribution

265 MAX Returnsthemaximumvalueinalistofarguments


266 MAXA Returnsthemaximumvalueinalistofarguments,includingnumbers,text,andlogicalvalues

267 MEDIAN Returnsthemedianofthegivennumbers

268 MIN Returnstheminimumvalueinalistofarguments

269 MINA Returnsthesmallestvalueinalistofarguments,includingnumbers,text,andlogicalvalues

270 MODE Returnsthemostcommonvalueinadataset

271 NEGBINOMDIST Returnsthenegativebinomialdistribution

272 NORMDIST Returnsthenormalcumulativedistribution

273 NORMINV Returnstheinverseofthenormalcumulativedistribution

274 NORMSDIST Returnsthestandardnormalcumulativedistribution

275 NORMSINV Returnstheinverseofthestandardnormalcumulativedistribution

276 PEARSON ReturnsthePearsonproductmomentcorrelationcoefficient

277 PERCENTILE Returnsthekthpercentileofvaluesinarange

278 PERCENTRANK Returnsthepercentagerankofavalueinadataset

279 PERMUT Returnsthenumberofpermutationsforagivennumberofobjects

280 POISSON ReturnsthePoissondistribution

281 PROB Returnstheprobabilitythatvaluesinarangearebetweentwolimits

282 QUARTILE Returnsthequartileofadataset

283 RANK Returnstherankofanumberinalistofnumbers

284 RSQ ReturnsthesquareofthePearsonproductmomentcorrelationcoefficient

285 SKEW Returnstheskewnessofadistribution

286 SLOPE Returnstheslopeofthelinearregressionline

287 SMALL Returnsthekthsmallestvalueinadataset

288 STANDARDIZE Returnsanormalizedvalue


289 STDEV Estimatesstandarddeviationbasedonasample

290 STDEVA Estimatesstandarddeviationbasedonasample,includingnumbers,text,andlogicalvalues

291 STDEVP Calculatesstandarddeviationbasedontheentirepopulation

292 STDEVPA Calculatesstandarddeviationbasedontheentirepopulation,includingnumbers,text,andlogicalvalues

293 STEYX Returnsthestandarderrorofthepredictedyvalueforeachxintheregression

294 TDIST ReturnstheStudent'stdistribution

295 TINV ReturnstheinverseoftheStudent'stdistribution

296 TREND Returnsvaluesalongalineartrend

297 TRIMMEAN Returnsthemeanoftheinteriorofadataset

298 TTEST ReturnstheprobabilityassociatedwithaStudent'sttest

299 VAR Estimatesvariancebasedonasample

300 VARA Estimatesvariancebasedonasample,includingnumbers,text,andlogicalvalues

301 VARP Calculatesvariancebasedontheentirepopulation

302 VARPA Calculatesvariancebasedontheentirepopulation,includingnumbers,text,andlogicalvalues

303 WEIBULL ReturnstheWeibulldistribution

304 ZTEST Returnstheonetailedprobabilityvalueofaztest

TextFunctions


305 ASC Changesfullwidth(doublebyte)Englishlettersorkatakanawithinacharacterstringtohalfwidth(singlebyte)characters

306 BAHTTEXT Convertsanumbertotext,usingthe(baht)currencyformat


307 CHAR Returnsthecharacterspecifiedbythecodenumber

308 CLEAN Removesallnonprintablecharactersfromtext

309 CODE Returnsanumericcodeforthefirstcharacterinatextstring

310 CONCATENATE Joinsseveraltextitemsintoonetextitem

311 DOLLAR Convertsanumbertotext,usingthe$(dollar)currencyformat

312 EXACT Checkstoseeiftwotextvaluesareidentical

313 FIND,FINDB Findsonetextvaluewithinanother(casesensitive)

314 FIXED Formatsanumberastextwithafixednumberofdecimals

315 JIS Changeshalfwidth(singlebyte)Englishlettersorkatakanawithinacharacterstringtofullwidth(doublebyte)characters

316 LEFT,LEFTB Returnstheleftmostcharactersfromatextvalue

317 LEN,LENB Returnsthenumberofcharactersinatextstring

318 LOWER Convertstexttolowercase

319 MID,MIDB Returnsaspecificnumberofcharactersfromatextstringstartingatthepositionyouspecify

320 PHONETIC Extractsthephonetic(furigana)charactersfromatextstring

321 PROPER Capitalizesthefirstletterineachwordofatextvalue

322 REPLACE,REPLACEB

Replacescharacterswithintext

323 REPT Repeatstextagivennumberoftimes

324 RIGHT,RIGHTB Returnstherightmostcharactersfromatextvalue

325 SEARCH,SEARCHB

Findsonetextvaluewithinanother(notcasesensitive)

326 SUBSTITUTE Substitutesnewtextforoldtextinatextstring

327 T Convertsitsargumentstotext

328 TEXT Formatsanumberandconvertsittotext


329 TRIM Removesspacesfromtext

330 UPPER Convertstexttouppercase

331 VALUE Convertsatextargumenttoanumber

ExternalFunctions


332 EUROCONVERT Convertsanumbertoeuros,convertsanumberfromeurostoaeuromembercurrency,orconvertsanumberfromoneeuromembercurrencytoanotherbyusingtheeuroasanintermediary(triangulation)

333 SQL.REQUEST Connectswithanexternaldatasourceandrunsaqueryfromaworksheet,thenreturnstheresultasanarraywithouttheneedformacroprogramming


Chapter4

The=IFFunction


=IFThe IF function is themost powerful of all functions not just in Excel, but in any programming language.Commonly referred to as Conditional Programming, it is the IF function that enables us to introduce logicalthinking into any program. This function is also referred to as the IfThenElse command, conditionalexpressions,orPropositionalLogic.ThefollowingWikisexplainsthisconceptinmoredetail:

http://en.wikipedia.org/wiki/Conditional_(programming).http://en.wikipedia.org/wiki/Logical_conditional#Conditional_statements

The cleverCPA canuse the IF Function tobuild elaborate Excel templates and financialmodels containing analmostunlimitedamountofsophisticatedprogramming.Presentedbelowareseveralexamplestohelpyoubetterunderstandtheapplicationofthispowerfultool.SimpleIFTheIFfunctionreturnsonevalueifaconditionyouspecifyevaluatestoTRUE,andanothervalueifthatconditionevaluatestoFALSE.Presentedbelowisasimpleexample:

SimpleIFwithCalculationPresentedbelowisanexamplethatisalittlemorecomplex:

Simple IF LargerExample Presentedbelow isyetanother IFexampleona little larger scale thisexampleshowshowonemightapplytheIFfunctiontoevaluatebudgetversusactualcomparisons.


SimpleIFwithDropDownInthefollowingexample,theIFfunctionischeckingtoseeiftheyhavesignedupforinsurance.Iftheyhave,thedeductionamountisentered.


SimpleIFwithCalculationThenextIFfunctionexampleisdeterminingeachemployeesearnedvacationdays.Iftheyhaveworked formore thanayear, theyhaveearned5vacationdaysplusoneday foreachadditional fullyear.

NestedIFFunctionsInthissample,therearefourpossibilitiesforbonuses.

IFFunctionwithLogicalORArgumentTeamsAandCmeetonTuesday,TeamsBandDmeetonThursday.WewanttolistthemeetingdaysincolumnD.

MoreComplex IFFunctionExample The following IFexampleshowsamorecomplexapplication inwhich theuser selectsa taxpayer status fromadropdown list,which then retrieves the correct taxbase, threshold,andincrementaltaxratestobeusedincalculatingtax.


Thisexample illustrateshowaCPAmightpreparean incomestatementtemplatethatcalculatestheappropriateamountoftaxesasnetincomeandthetaxpayerstatuschanges.Essentiallythetemplatecalculatesthecorrecttaxgivenallfourpossibletaxpayerstatuses,andtheIFstatementsareusedtoselectthecorrectanswersbasedonthetaxpayerstatusselected.

Keep inmindthatdespitethemanyaccoladesmentionedabove,theIFFunction isnotalwaysthebestsolution.Forexample,theVLOOKUPwouldbeabetterandeasierfunctiontousetoextractdatafromalistasshowninthenestedIFFunctionafewexamplesabove.ManyExcelFunctionsalsoprovidebuiltinIFThenElsefunctionality.KeyPointersforUsingtheIFFunction:

1. NestingYoucanembedupto8nestedIFfunctionsinasingleformulainExcel2003,andupto64IFnestedfunctionsinExcel2007.

2. AND,ORYoucanusetheANDand/orORoperatortoaddmoreconditionstoanIFFunction.3. Variations of IF Excel offers several variations of the IF function as follows: COUNTIF,

COUNTIFS,SUMIF,SUMIFS.4. EvaluatinganIFErrorSincethe IFstatementprovidesonlyatrueorfalseresult,there isno

waytoevaluateanIFFunctiontoERROR.Ifyoureceiveanerror,youwrotetheformulawrong.5. TheNullSet TheDoubleQuotes is theNull Set,orabsenceofa value. Forexample,when

testingforaZerobalanceortestingforablankcell,thefollowingIFfunctionswouldapply:a. =IF(A1=0,ZERO,)b. =IF(A1=,Blank,)(ExcelalsoprovidesanISBLANKFunctionthatwouldalsowork.)


Chapter5

UsingFunctionsToCrunch&CleanData


CleaningDataUsingFunctionsCPAsoftenreceiveorretrievedatafrommanysources inawidevarietyofformatssuchasTextorCSVformats.Youdon'talwayshavecontrolovertheformatandtypeofdatathatyouimportfromanexternaldatasource,suchasadatabase,textfile,oraWebpage.Beforeyoucananalyzethedata,youoftenneedtocleanitup.Fortunately,OfficeExcelhasmanyfeaturestohelpyougetdata inthepreciseformatthatyouwant.Sometimes,thetask isstraightforwardandthereisaspecificfeaturethatdoesthejobforyou.Forexample,youcaneasilyuseSpellCheckertocleanupmisspelledwordsincolumnsthatcontaincommentsordescriptions.Or, ifyouwanttoremoveduplicaterows,youcanquicklydothisbyusingtheRemoveDuplicatesdialogbox.Atothertimes,youmayneedtomanipulateoneormorecolumnsbyusingaformulatoconverttheimportedvaluesintonewvalues.Forexample, ifyouwant to remove trailing spaces,youcancreateanewcolumn toclean thedatabyusingaformula, fillingdownthenewcolumn,convertingthatnewcolumn's formulastovalues,andthenremovingtheoriginalcolumn.Excelprovidesmanyfunctionstohelpyoucleanyourdataasfollows:

1. Import2. TexttoColumns3. RemoveDuplicates4. Find&Replace5. SpellCheck6. =UPPER7. =LOWER8. =PROPER9. =FIND

10. =SEARCH11. =LEN12. =SUBSTITUTE13. =REPLACE14. =LEFT15. =MID16. =RIGHT17. =VALUE18. =CONCATENATE

19. =TEXT20. =TRIM21. =CLEAN22. =FIXED23. =DOLLAR24. =CODE25. Macros

1. ImportingData into Excel Of course excel opens up excel files, butwhat happenswhenyouattempttoopendatathatisnotcontainedinanExcelformat?TheansweristhatExcelautomatically imports thatdataon the flyanddisplaysa ImportWizard tohelpyoucompletetheprocess.TheTextImportWizardexaminesthetextfilethatyouare importingandhelpsyou importthedatathewaythatyouwant.TostarttheTextImportWizard,ontheDatatab,intheGetExternalDatagroup,clickFromText.Then,inthe ImportTextFiledialogbox,doubleclickthetextfilethatyouwantto import.Thefollowingdialogboxwillbedisplayed:

If items in the text file are separated by tabs, colons, semicolons, spaces, or other characters, selectDelimited. Ifallofthe items ineachcolumnarethesame length,selectFixedwidth. Instep3,clicktheAdvancedbuttontospecifythatoneormorenumericvaluesmaycontainatrailingminussign.Alsoclickthedesireddataformatforeachcolumntobeimported.

2. Text toColumnsTheText toColumnscommand locatedon theDataRibbonworksexactlythesamewayasdescribedabovetheusersimply launches ittoconvertdatawithinanexistingworksheet.

3. RemovingDuplicateRows Duplicate rowsareacommonproblemwhenyou importdata.Youcan identifyand removeduplicate rowsbyusing theData,AdvancedFilter,UniqueRecordsOnlytoolasshowinthescreenbelow.

4. FindandReplaceTextThis tool canbeused to identifyand remove leading string,suchasalabelfollowedbyacolonandspace,orasuffix,suchasaparentheticphraseatthe end of the string that is obsolete or unnecessary. You can do this by findinginstancesofthattextandthenreplacingitwithnotextorothertext.

NoteworthyFindandReplacePoints:

1. Youcansearchandreplaceforanentireworksheet,ortheentireworkbook.2. Youcanfindandreplaceformatswithnewformats.3. Thereisacellchooseroptionthatmakesiteasiertofindandreplaceformats.

4. Ifyouhighlightarangeofcells,thensearchandreplaceonlysearchesandreplaceswithinthatrangeofcells.

5. Youcanreplaceallatonceoroneatatime.6. Youcouldalsofindandreplacereferencesinaformula.

5. SpellCheckYoucanuseaspellcheckertonotonlyfindmisspelledwords,buttofindvalues

thatarenotusedconsistently,suchasproductorcompanynames,byaddingthosevaluestoacustomdictionary.Thespellcheckfunctionalsochecksyourgrammaraswell.

ChangingTheCaseOfTextYou canuseoneormoreof the threeCase functions to convert text tolowercaseletters,suchasemailaddresses,uppercaseletters,suchasproductcodes,orpropercase,suchasnamesorbooktitles.

6. =UPPERConvertstexttouppercaseletters.

7. =LOWERConvertsalluppercaselettersinatextstringtolowercaseletters.

8. =PROPERCapitalizesthefirstletterinatextstringandanyotherlettersintextthatfollowanycharacterotherthanaletter.Convertsallotherletterstolowercaseletters.

MergingAndSplittingColumnsAcommontaskafterimportingdatafromanexternaldatasourceistoeithermergetwoormorecolumnsintoone,orsplitonecolumnintotwoormorecolumns.Forexample,youmaywanttosplitacolumnthatcontainsafullnameintoafirstandlastname.Or,youmaywanttosplitacolumnthatcontainsanaddressfield intoseparatestreet,city,region,andpostalcodecolumns.Thereversemayalsobetrue.Presentedbelowarefunctionsthattohelpyouaccomplishthesetasks:

9. =FINDUseReturnsthestartingpositionofacharacter,stringofcharactersorwordwithacell.Findiscasesensitive.

10. =SEARCHReturnsthestartingpositionofacharacter,stringofcharactersorwordwithacell.Searchisnotcasesensitive.

11. =LENDisplaysthelengthornumberofcharactersinacell.

12. =SUBSTITUTEReplacesacharacterorcharacterswithacharacterorcharactersthatyouspecify.

13. =REPLACEReplacesacharacterorcharacterswithacharacterorcharactersthatyouspecify.

14. =LEFTExtractsthespecifiednumberofcharactersfromacell,startingfromtheleft.

15. =MIDExtractsthespecifiednumberofcharactersfromacell,startingfromsomewhereinthemiddleofthecell.

16. =RIGHTExtractsthespecifiednumberofcharactersfromacell,startingfromtheright.

17. =ValueConvertstexttovaluessothedatacanbeadded,subtracted,multiplied,dividedorreferencedinafunction.

18. =CONCATENATEJoinstwoormoretextstringsintoonetextstring.

Variationsofthesefunctionsthatareusedwhenworkingwithforeignlanguages:=FINDBUsethiswhenworkingwithforeigncharacterslikethese( "," )=SEARCHBUsethiswhenworkingwithforeigncharacterslikethese( "," )=REPLACEBUsethiswhenworkingwithforeigncharacterslikethese( "," )=LEFTBUsethiswhenworkingwithforeigncharacterslikethese( "," )=RIGHTBUsethiswhenworkingwithforeigncharacterslikethese( "," )=LENBUsethiswhenworkingwithforeigncharacterslikethese( "," )=MIDBUsethiswhenworkingwithforeigncharacterslikethese( "," )

Cleaning Text (Removing Spaces And Nonprinting Characters From Text) Sometimes text valuescontain leading, trailing,ormultipleembedded space characters (Unicode character set values32and160),ornonprintingcharacters(Unicodecharactersetvalues0to31,127,129,141,143,144,and157).Thesecharacterscansometimescauseunexpectedresultswhenyousort,filter,orsearch.Forexample,inthe external data source, users may make typographical errors by inadvertently adding extra spacecharacters, or imported text data from external sourcesmay contain nonprinting characters that are

embedded in the text.Because thesecharactersarenoteasilynoticed, theunexpected resultsmaybedifficulttounderstand.Followingisalistoffunctionsyoucanusetoremovetheseunwantedcharacters:

19. =TEXTConvertsavaluetotextinaspecificnumberformat.

20. =TRIMRemovesthe7bitASCIIspacecharacter(value32)fromtext.

21. =CLEANRemovesthefirst32nonprintingcharactersinthe7bitASCIIcode(values0through31)fromtext.

22. =FIXEDRoundsanumbertothespecifiednumberofdecimals,formatsthenumberindecimalformatbyusingaperiodandcommas,andreturnstheresult.

23. =DOLLARConvertsanumbertotextformatandappliesacurrencysymbol.

24. =CODEReturnsanumericcodeforthefirstcharacterinatextstring.

Fixing Dates and Times There are many different date formats, and these varied formats may beconfusedwithnumberedpartcodesorotherstringsthatcontainslashmarksorhyphens,datesandtimesoften need to be converted and reformatted. Presented below is a list of functions that help youaccomplishthistask.

25. =DATE Returns the sequential serial number that represents a particular date. If the cellformatwasGeneralbeforethefunctionwasentered,theresultisformattedasadate.

26. =DATEVALUEConvertsadaterepresentedbytexttoaserialnumber.

27. =TIMEReturnsthedecimalnumberforaparticulartime.IfthecellformatwasGeneralbeforethefunctionwasentered,theresultisformattedasadate.

28. =TIMEVALUE Returns thedecimalnumberof the time representedbya text string.Thedecimalnumber isavalueranging from0 (zero)to0.99999999,representingthetimesfrom0:00:00(12:00:00AM)to23:59:59(11:59:59P.M.).TransformingAnd Rearranging ColumnsAnd Rows Most of the analysis and formatting features inOfficeExcelassumethatthedataexistsinasingle,flattwodimensionaltable.Sometimesyoumaywanttomake the rowsbecome columns, and the columnsbecome rows.Atother times,data isnot evenstructuredinatabularformat,andyouneedawaytotransformthedatafromanontabulartoatabularformat.Thefollowingfunctioncanhelpyouachievethisgoal:

29. =TRANSPOSEReturnsaverticalrangeofcellsasahorizontalrange,orviceversa.

30. DataFillInTrickAclevertrickforfillinginmissingdatacanbeaccomplishedusingtheGOTO,Special,Blanks command.Here ishow itworks.This trickworkswellwhen youhavea largevolumeofdatabutdescriptionsarenotprovidedforeveryrow,asshownintheexamplebelow:

Startbyenteringasimpleformulareferencingthedatalabelintheabovecell,justlikethis:

a. Nextcopythatformula...b. HighlighttheentirerangecontainingdatalabelsincolumnsAandB.columns...c. PresstheF5keytolaunchtheGoTodialogbox...d. SelecttheOptionsBox...e. ClickontheBlanksradiobutton...f. PressEnter...g. Paste.

Thisactionwillcausealldatalabelstorepeatintheemptycellsbeneath.Next:

h. CopycolumnsA&B...i. PasteSpecialasvaluestoconverttheformulastotextbaseddatalabels...j. Youarenowreadytosort,filter,subtotalandpivotyourdata.

FetchingDataOccasionally,databaseadministratorsuseOfficeExceltofindandcorrectmatchingerrorswhentwoormoretablesarejoined.Thismightinvolvereconcilingtwotablesfromdifferentworksheets,forexample,toseeallrecordsinbothtablesortocomparetablesandfindrowsthatdon'tmatch.

31. =VLOOKUPSearchesforavalueinthefirstcolumnofatablearrayandreturnsavaluein the same row from another column in the table array. Forexample, consider theexamplebelowwhichusesa=VLOOKUPfunctiontocalculatetheappropriateamountoftaxduebasedontheIRSrateschedule.

Asthe Incomestatementshown intheshadedarea isupdated ,theresultingtaxableincome amount is referenced in Cell F13. Next, 3 VLOOKUP functions pull theappropriaterate,baseandthresholdinformationfromtheratescheduletobeusedincalculating income tax.Once calculated, the resulting tax is referenced back to theincomestatementforthepurposesofcomputingNetincomeAftertaxes.KeypointstoConsiderwhenUsingVLOOKUP:

a. Ifyouare lookingupbasedon text, the firstcolumncontaining lookupvaluesmustbesortedalphabeticallyindescendingorderelseitwillnotworkproperly.

b. If you are looking up based on text, you must have an exact matchbetweenthelookupvalueandthetablearrayvalue.

c. Ifyouarelookingupbasedonvalues,thefirstcolumncontaininglookup

valuesmustbesortednumerically indescendingorderelse itwillnotworkproperly.

d. Ifyouarelookingupbasedonvalues,thenExcelwillchoosetheclosestvaluewithoutgoingover.Forexample,ifthelookupvalueis198,000andthetablearraycontainsvaluesof100,000and200,000,thenexcelwillchoose100,000because200,000goesoverorexceeds198,000.(Itmightbehelpful to thinkback to theoldBobbarkergame show thePrice isRight.)

32. =HLOOKUP Searches foravalue inthetoprowofatableoranarrayofvalues,andthenreturnsavalueinthesamecolumnfromarowyouspecifyinthetableorarray.

33. =INDEXReturnsavalueorthereferencetoavaluefromwithinatableorrange.TherearetwoformsoftheINDEXfunction:thearrayformandthereferenceform.

34. =MATCHReturnstherelativepositionofaniteminanarraythatmatchesaspecifiedvalue inaspecifiedorder.UseMATCH insteadofoneoftheLOOKUP functionswhenyouneedthepositionofaniteminarangeinsteadoftheitemitself.

35. =OFFSET Returns a reference to a range that is a specified number of rows andcolumnsfromacellorrangeofcells.Thereferencethatisreturnedcanbeasinglecellorarangeofcells.Youcanspecifythenumberofrowsandthenumberofcolumnstobereturned.

36. Data Cleaning with Macros To periodically clean the same data source, considerrecording amacro orwriting code to automate the entire process. There are also anumber of external addins written by thirdparty vendors, listed in the Thirdpartyproviderssection,thatyoucanconsiderusingifyoudon'thavethetimeorresourcestoautomatetheprocessonyourown.

37. RAND( ),RANDBETWEEN( ),ROUND( ) In Excel2003,RANDBETWEEN isnot in thestandard EXCEL installation but if the analysis tool pack is installed and the addinactivateditisanextremelyusefulfunction.

38. InformationalFunctionsCELL(info_type,reference) - Info_type is a text value that specifies what type of cell information you want. The following list shows the possible values of info_type and the corresponding results. Info_type Returns

"address" Referenceofthefirstcellinreference,astext.

"col" Columnnumberofthecellinreference.

"color" 1ifthecellisformattedincolorfornegativevalues;otherwisereturns0(zero).

"contents" Valueoftheupperleftcellinreference;notaformula.

"filename" Filename(includingfullpath)ofthefilethatcontainsreference,astext.Returnsemptytext("")iftheworksheetthatcontainsreferencehasnotyetbeensaved.

"format" Textvaluecorrespondingtothenumberformatofthecell.Thetextvaluesforthevariousformatsareshown inthefollowingtable.Returns""attheendofthetextvalue ifthecell isformatted incolorfornegativevalues.Returns"()"attheendofthetextvalue ifthecellisformattedwithparenthesesforpositiveorallvalues.

"parentheses" 1ifthecellisformattedwithparenthesesforpositiveorallvalues;otherwisereturns0.

"prefix" Textvaluecorrespondingtothe"labelprefix"ofthecell.Returnssinglequotationmark(')ifthecellcontainsleftalignedtext,doublequotationmark(")ifthecellcontainsrightalignedtext,caret(^) ifthecellcontainscenteredtext,backslash(\) ifthecellcontainsfillalignedtext,andemptytext("")ifthecellcontainsanythingelse.

"protect" 0ifthecellisnotlocked,and1ifthecellislocked.

"row" Rownumberofthecellinreference.

"type" Textvaluecorrespondingtothetypeofdatainthecell.Returns"b"forblankifthecellisempty, "l" for label if the cell contains a text constant, and "v" for value if the cellcontainsanythingelse.

"width" Columnwidthofthecellroundedofftoaninteger.Eachunitofcolumnwidthisequaltothewidthofonecharacterinthedefaultfontsize.

Reference the cell that you want information about. If omitted, information specified in info_type is returned for the last cell that was changed. The following list describes the text values CELL returns when info_type is "format", and reference is a cell formatted with a built-in number format.

IftheMicrosoftExcelformatis CELLreturns

General "G"

0 "F0"

#,##0 ",0"

0.00 "F2"

#,##0.00 ",2"

$#,##0_);($#,##0) "C0"

$#,##0_);[Red]($#,##0) "C0"

$#,##0.00_);($#,##0.00) "C2"

$#,##0.00_);[Red]($#,##0.00) "C2"

0% "P0"

0.00% "P2"

0.00E+00 "S2"

#?/?or#??/?? "G"

m/d/yyorm/d/yyh:mmormm/dd/yy "D4"

dmmmyyorddmmmyy "D1"

dmmmorddmmm "D2"

mmmyy "D3"

mm/dd "D5"

h:mmAM/PM "D7"

h:mm:ssAM/PM "D6"

h:mm "D9"

h:mm:ss "D8"

Iftheinfo_typeargumentintheCELLformulais"format",andifthecellisformattedlaterwithacustomformat,thenyoumustrecalculatetheworksheettoupdatetheCELLformula.

ThirdPartySolutionsIncaseExcelsbuiltinfunctionsarenotsufficienttomeetyourneeds,followingisapartiallistofthirdpartyprovidersthathaveproductsthatareusedtocleandatainavarietyofways.

Provider ProductAddinExpressLtd. AdvancedFind&Replace,MergeCellsWizardAddIns.com DuplicateFinderAddinTools AddinToolsAssistCDX ZipStreamClick2Convert ConvertsPDFtoExcelformatsDigDB AddinsforExcelJKPApplicationDevelopment FlexfindforExcelJWalk&Associates,Inc. PowerUtilityPakVersion7OfficeAssistanceLLC SimilarDataFinderforExcelPATools PAToolsAdvancedFindReplacePDF2XL ConvertsPDFfilestoExcelFormatsSpinnakerSoftwareSolutions SpinnakerDBtoolsforExcelVonnix ExcelPowerExpander4.6WinPure ListCleanerLiteListCleanerProCleanandMatch2007

Chapter6

DataCommands

TheDataMenuPerhapsthepartsofExcelthatareofmostvaluetoCPAs,butleastusedbyCPAsaretheDatacommandsfoundundertheDatamenuinExcel2003andearlier,andonthedataRibboninExcel2007. These commands are shown below, and we will concentrate the next hour to studying thesecommands.

DataSortTheSorttooldoesexactlywhat it implies itsortsanddata.Keysortingpointsareasfollows:

1. Contiguous Data The A to Z sorting tool can sort largematrix of dataautomatically as long as the data is contiguous. In otherwords, your datashouldcontainnoblankcolumns,noblankrows,andthecolumnsmustallbelabeled. Only then will Excel always correctly select the entire matrix forsorting.

2. AtoZButtonSimplyplacethecursorinthedesiredcolumnforsorted,andpresstheAtoZorZtoAbuttonasthecasemaybe.Excelwillautomaticallysortallcontinuouscolumnsthathaveheadingsandallcontiguousrowsfromthe top rowunder theheading labelsdown to the last row in the selectedcolumn that containsdata. (Note Ifyouaccidently select2 cells insteadofjustone,yourresultswillnotbecorrect.)

3. Sortby64ColumnsTheSorttoolisdramaticallyenhancedinExcel2007as

it now provides the ability to sort by up to 64 columns, instead of just 3columns. Presented below is a dialog box which shows this expandedfunctionality.

4. SortLefttoRightExcelhasalwaysprovidedtheabilitytosort lefttoright.

Todoso,selecttheoptionsboxintheSortDialogboxandclickthecheckboxlabeledSortlefttoRightasshownbelow.

5. SortbyColorExcel2007nowprovidestheabilitytosortbyfontcolororbycellcolor,orboth.This ishandy inmanyways.SometimesCPAsusecolortotagormarkcertaincells and laterfind itusefultobeabletosortbythosemarkings.InothersituationsCPAsuseconditionalformattingtoapplycolortocellsusingawidevarietyofrules.ThereafterExcelcansortthedatabasedontheresultingcolors.Thesortbycoloroptionsareshownbelow.

Tobeaccurate, itwaspossibletosortbycolor inExcel2003.Toaccomplishthis task, you needed to use the =CELL function in order to identifyinformationaboutagivencellsuchasthecellcolororfontcolor.Thereafter,the results of that function could be used to sort rows which effectivelymeansthatyoucansortbycolorinExcel2003butittakesabitmoreeffort.

6. SortByCustomListAnothersortingcapability inExcel istheabilitytosortbyCustom List. Forexample, assume aCPA firmhas tenpartners, and theManaging partner prefers to be shown at the top of the list, and theremainingPartnersbasedonseniority.Inthiscase,youcouldcreateaCustomList in theexcelOptionsdialogbox listing thepartners in thedesiredorder,andthensortfuturereportsbasedonthatorder.Perhaps a better example use of this feature would be to create a nonalphabeticcustomlistofyourchartofaccounts,andthensorttransactionstoproduceageneral ledger inchartofaccountordereven ifyourpreferredchartofaccountsisnotalphabetical.thepartnersenioritydoesnotmatchthealphabeticnames,norany

FilteringDataUsingAutoFiltertofilterdataallowsyoutoviewasubsetofyourdatainarangeofcellsortable.Onceyouhave filteredthedata,youcanapplyadditional filtersto furtherrefineyourdataview.Whenyouaredone,youcanclearafiltertoonceagainredisplayallofthedata.Tousethistool,startwithany listofdataandturnontheAutoFiltertool.Thenpositionyourcursor inthecolumnyouwanttofilterandusethedropdownarrowstoapplyyourfiltersasshowninthescreenbelow.

Once the filtersareapplied,youwill seea subset yourdata. Forexample, the screenpresentedbelowshowsfiltereddataforonlyMaconandSavannahproperties.

As filtersareapplied,asmall funnelappears inthedropdownarrowbuttonto indicatethata filterhasbeenapplied.Youcanapplyfiltersformultiplecolumnssimultaneously.

KeyPointsConcerningTheAutoFilterCommand:

1. ContiguousDataTheAutoFilter toolsworksbestwhenyouareworkingwithdata that is contiguous. In other words, your data should contain no blankcolumns,noblankrows,andthecolumnsmustallbelabeled.

2. FilterbyMultipleColumnsYoucanfilterbymorethanonecolumn.

3. Removing Filters In Excel 2003 and earlier, a fasterway to removemultiplefiltersistoturnofffilteringandthenturnfilteringbackon.InExcel2007youcansimpleclicktheClearbuttonintheSortandFilterGroupasshownbelow.

4. Filters are Additive Each additional filter is based on the current filter andfurtherreducesthesubsetofdata.

5. Three Types of Filters You can filter based on list values, by formats, or bycriteria.Eachofthesefiltertypes ismutuallyexclusiveforeachrangeofcellsorcolumntable.Forexample,youcanfilterbycellcolororbyalistofnumbers,butnotbyboth;youcanfilterbyiconorbyacustomfilter,butnotbyboth.

6. FiltersEnabled Adropdownarrow means that filtering isenabledbutnot

applied.

7. FilterAppliedAFilterbutton meansthatafilterisapplied.

8. FilterSpanningThecommandsundertheAllDates inthePeriodmenu,suchas January or Quarter 2, filter by theperiod nomatterwhat the year. Thiscanbeuseful,forexample,tocomparesalesbyaperiodacrossseveralyears.

9. This Year vs. YeartoDate Filtering This Year and YeartoDate aredifferent in theway that future datesarehandled.ThisYearcanreturndatesin the future for the current year,whereas Year to Date only returnsdates up to and including the currentdate.

10. Filtering Dates All date filters arebased on the Gregorian calendar asdecreed by Pope Gregory XIII, afterwhom thecalendarwasnamed,on24February 1582. The Gregorian calendar modifies the Julian calendar's regularfouryearcycleofleapyearsasfollows:Everyyearthatisexactlydivisiblebyfourisaleapyear,exceptforyearsthatareexactlydivisibleby100;thecenturialyearsthatareexactlydivisibleby400arestillleapyears.Forexample,theyear1900isnotaleapyear;theyear2000isaleapyear.

11. Filtering ByDays ofWeek If youwant to filter by days of theweek, simplyformatthecellstoshowthedayoftheweek.

12. Top&BottomFilteringOntheDatatab,intheSort&Filtergroup,clickFilter.PointtoNumber Filters and then selectTop10. Tofilter by number, click Items. To filter bypercentage, click Percent. Note Top andbottom values are based on the originalrangeof cellsor table columnandnot thefilteredsubsetofdata.

13. Above&BelowAverageFiltering On theData tab, in the Sort & Filter group, clickFilter. Point to Filter byNumbers that areAbove/BelowAverage.NoteThesevalues

are based on the original range of cells or table column and not the filteredsubsetofdata.

14. FilteringOutBlanksTofilterforblanks,intheAutoFiltermenuatthetopofthelistofvalues,clear(SelectAll),andthenatthebottomofthelistofvalues,select(Blanks).

15. Filtering By Color Select Filter by Color, and then depending on the type offormat,selectFilterbyCellColor,FilterbyFontColor,orFilterbyCellIcon.

16. Filter by Selection To filter by text, number, or date or time, click Filter bySelectedCell'sValueandthen:Tofilterbycellcolor,clickFilterbySelectedCell'sColor.Tofilterbyfontcolor,clickFilterbySelectedCell'sFontColor.Tofilterbyicon,clickFilterbySelectedCell'sIcon.

17. RefreshingFilters To reapplya filterafter thedatachanges,clickacell in therangeortable,andthenontheDatatab,intheSort&Filtergroup,clickReapply.

Data FormExcels2003DataFormtoolmakesExcellookmoreandbehavemorelikeadatabase,suchasMicrosoftAccess.(TheFormbuttonhasnotbeen includedontheOfficeFluentuser interfaceRibbon,butyoucanstilluse it inOfficeExcel2007byaddingtheFormbuttontotheQuickAccessToolbar.)

A data form provides a convenientmeans to enter or display one complete row ofinformationinarangeortablewithoutscrollinghorizontally.Youmayfindthatusingadata formcanmakedataentryeasier thanmoving fromcolumn tocolumnwhenyou

havemorecolumnsofdatathancanbeviewedonthescreen.Useadataformwhenasimple formof textboxes that list thecolumnheadingsas labels issufficientandyoudon'tneedsophisticatedorcustomformfeatures,suchasalistboxorspinbutton. Key Points using data Form:

1. You cannot print a data form. 2. Because a data form is a modal dialog box, you cannot use either the

Excel Print command or Print button until you close the data form. 3. You might consider using the Windows Print Screen key to make an

image of the form, and then paste it into Microsoft Word for printing. Data Subtotals Excel provides an automatic subtotaling which willautomaticallycalculateand insertsubtotalsandgrandtotals inyour listortable.Onceinserted,Excelrecalculatessubtotalandgrand totalvaluesautomaticallyasyouenterandedit thedetaildata.TheSubtotalcommandalsooutlines the list so thatyoucandisplayandhidethedetailrowsforeachsubtotal.ExamplesofatheSubtotaldialogboxandaresultingsubtotaledtableareshownbelow.

KeypointstoConsiderWhenUsingSubtotalingareasfollows:

1. ContiguousDataTheSubtotaltoolsworksbestwhenyouareworkingwithdatathatiscontiguous.Inotherwords,yourdatashouldcontainnoblankcolumns,noblankrows,andthecolumnsmustallbelabeled.

2. SortBeforeYourSubtotal YoumustsortthedatabythecolumnyouwishtoSubtotalby,elseyouwillreceiveerroneousresults.

3. Other Mathematical Applications The Subtotal tool not only calculatessubtotals, but it can also calculateminimums,maximums, averages, standarddeviations,andotherfunctions.

4. Subtotals in2007TablesExcel2007deploysSubtotalinga littledifferently inthat theSubtotal toolappearsat thebottomofeachcolumn ineach table,asshowninthescreenbelow.

5. AutomaticOutliningSubtotalingautomatically insertsOutlines,which isreallycool.Youcanthencondenseandexpandthedataintotalandbysubtotal.SomeCPAsalsoliketocopyandpastethecondensedsubtotalinformationtoanotherlocationbut find that thisprocesscopiesandpastesallof thedata.Thereare

twowaystoachieveacleancopyandpastewithoutgrabbingallthehiddendataasfollows:

a. CTRL key Hold the Control Key down while you individually click on eachsubtotalrow.Thiswillenableyoutocopyandpastejustthesubtotaldata.Thisapproachcanbeproblematicbecauseifyoumisclick,youhavetostartover.

b. SelectVisibleCellsAbetterapproachistousetheSelectVisibleCellstool.This

toolwillselectonthedatayoucansee,afterwhichthecopyandpasteroutinewill yield thedesiredresults.Thisoption isbetterbecause it is fasterand lesserrorprone.

DataValidation

DataValidationcanbeusedtolimitthedatathatcanbeenteredintoacell.Forexample,youmightwanttheusertoenteronlyvaluesbetween1%and99%.Youmightalsousethistooltoenabledatainputtoadropdownlist.Thishastwoadvantagesinthatitcanbefasterandmoreaccurate.Startwiththedialogboxbelowtocreateyourdropdownlistfunctionality.

Aftermakingallthenecessaryselections inthevalidation listdialogbox,yourworksheetwillbehaveasshownbelow.

Youcanalsoprovidemessagestodefinewhatinputyouexpectforthecell,andinstructionstohelpuserscorrect anyerrors. Forexample, in amarketingworkbook, you can setup a cell to allowonly accountnumbersthatareexactlythreecharacterslong.Whenusersselectthecell,youcanshowthemamessagesuchasthisone:

Ifusersignorethismessageandtypeinvaliddatainthecell,suchasatwodigitorfivedigitnumber,youcanshow themanactualerrormessage. Inamoreadvancedscenario,youmightusedatavalidation tocalculate the maximum allowed value in a cell based on a value elsewhere in the workbook. In thefollowingexample, theuserhas typed$4,000 incellE7,whichexceeds themaximum limitspecified forcommissionsandbonuses.

If the payroll budget were to increase or decrease, the allowed maximum in E7 would automaticallyincreaseordecreasewithit.

PivotTables

ThePivotTablereporttoolprovidesaninteractivewaytosummarizelargeamountsofdata.UseshouldusethePivotTabletoolstocrunchandanalyzenumericaldataPivotTablereportsareparticularlyusefulinthefollowingsituations:

a. Rearrangingrowstocolumnsorcolumnstorows(or"pivoting")toseedifferentsummariesofthesourcedata.

b. Filtering,sorting,grouping,andconditionallyformattingyourdata.c. Preparingconcise,attractive,andannotatedonlineorprintedreportsd. Queryinglargeamountsofdata.e. Subtotalingandaggregatingnumericdata.f. Summarizingdatabycategoriesandsubcategoriesg. Creatingcustomcalculationsandformulas.h. Expandingandcollapsinglevelsofdata.i. Drillingdowntodetailsfromthesummarydata

Inessence,PivotTablespresentmultidimensionaldataviewstotheuserthisprocessisoftenreferredtoasmodeling,datacubeanalysis,orOLAPdatacubes.TorearrangethePivotTabledata,justdraganddropcolumnandrowheadingstomovedataaround. PivotTablesareagreatdataanalysistoolformanagement.

IfyouhaveneverusedaPivotTablebefore,initiallytheconceptcanbedifficulttograsp.ThebestwaytounderstandaPivotTableistocreateablankPivotTableandthendrag

anddrop fieldnamesonto thatblank table.Thiswayyouwill see the resultingpivottablemagicallyappearanditwillhelpyoubetterunderstandtheimportantrelationshipbetweenthepivotpalletandthefieldnamelist.LetscreateasimplePivotTable.StartwithanExcelworksheetdatathatcontainsseveralcolumnsofdatathedatamustincludecolumnandrowheadingsandithelpsifthedatais contiguous.Place your cursor anywhere in thedata and selectPivotTable from theDatamenu inExcel2003andclickFinish;orfromthe insertRibbon inExcel2007. Thisprocess is shownbelow:Lets startwithapageofdata summarizing the resultsof taxseasonasallof the time sheetentrieshavebeenenteredontoa singleworksheetasshownbelow.

PlaceyourcursoranywhereinthedataandselectPivotTablefromtheInsertRibbonasshownbelow:

For learningpurposes lets rightmouse click on the pivot table and select PivotTableOptions,Display,ClassicPivotTableLayout.Yourscreenwillnowappearasfollows:

IlikeforCPAstolearnhowtousePivotTablesinthisviewbecauseitvisuallyhelpsthemunderstandtheallimportantrelationshipbettertheblankpivotpaletteandthePivotTablefieldList,bothelementsofwhichareshowninthescreenabove.

Toproceed,simplydraganddropfieldnamesshownontherightontotheblankPivotpaletteshownontheleft.Witheachdrop,yourreportgrowslarger.Asanalternativeyoucouldusethecheckboxesnexttofieldnamesthis functionality isnew inExcel2007.AfteraddedsomedatatoyourblankPivotPalette,yourdatawilllooksomethinglikethis:

NextformatandfilterthePivotReport.Veryquicklyyourreportcomestogetherasshownbelow.NoticethefilterbuttonhasbeenappliedandaPivottablestylehasalsobeenappliedforappearance.

Doubleclickingonanynumberinapivotreportwillautomaticallyproduceanewworksheetcompletewithallsupportingdetailthatcomprisesthesummarynumber.

ThereareamultitudeofPivotTableoptionsthatcanbeappliedtoaltertheappearanceorbehaviorofyourPivottable.

KeyPointsConcerningPivotTablesareasFollows:

a. YoucancreateasmanyPivotReportsasyouwantfromyourinitialrawdatapage.YourrawdataremainsunchangedasnewPivottablesarecreated.

b. Asyourrawdatachanges,yourpivottablesareupdatedeachtimeyoupresstherefreshbutton.Or ifyoupreferyoucansetyourPivotTablestoupdatethemselvesatregularlyscheduledintervalssayeverytenminutes.

c. AkeytounderstandingPivotTablesisunderstandingtherelationshipbetweentheBlankPivotpaletteandthePivotTableFieldlist.Asdataisselectedinthelist,itappearsonthePivottableReport.

d. YoucanalterthePivotTablesimplebydragginganddroppingthefieldnamesindifferentlocationsonthePivotpalette,orindifferentlocationsinthePivotTableFieldlistBox.

e. PivotTablescanbepivoted.

f. PivotTablescanbesortedbyanyColumn.(Orbyanyrowwhensortinglefttoright)

g. PivotTablescanbeFiltered.

h. PivotTablescanbeDrilled.

i. PivotTablescanbecopiedandpasted.

j. PivotTablescanbeformattedusingPivotTableStyles,asshownbelow.

k. Subtotalsandgrandtotalscanbedisplayedorsuppressedattheusersdesire.

l. PivotTableDatacanbeshownasnumbersorpercentagesattheusersdesire.

m. PivotTablecannotonlybesummed,itcanbeaveraged,minimized,maximized,counted,etc.

n. Blankrowscanbedisplayedorsuppressedattheusersdesire.

o. A new feature called Compact Form organizedmultiple column labels into a neatlyorganizedoutlinewhichiseasiertoread.

p. PivotTablescanquerydatadirectlyfromanyODBCcompliantdatabase.ThePivotTabletool for accomplishing this task is not included in the ribbon you will find it byCustomizingtheQuickAccessToolBarandsearchingtheCommandsNotShownintheRibbontabtofindthePivotTableandPivotChartWizardOption.

q. Many accounting systems can push data out of the accounting system into an ExcelPivotTableformatthisiscommonlyreferredtoasanOLAPDataCube.OLAPdataCubeisjustafancywordforPivotTableandthereisnodifference.

r. PivotTablescanautomaticallycombinedatafrommultipledatasources.ThePivotTabletool for accomplishing this task is not included in the ribbon you will find it byCustomizingtheQuickAccessToolBarandsearchingtheCommandsNotShown intheRibbontabtofindthePivotTableandPivotChartWizardOption.

s. ExcelalsoprovidesaPivotChartfunctionwhichworkssimilarlytoPivotTables.PresentedbelowisanexamplePivotChart.

Excel2003PivotTablesworkverysimilarlyasshownbelow.ExcelcreatesablankPivotTable,andtheusermustdraganddropthevariousfieldsfromthePivotTableFieldListontotheappropriatecolumn,row,ordata section.Asyoudraganddrop these items, the resulting report isdisplayedon the fly.Here is theblankPivotPaletteview.

NowdraganddropfieldnamesfromthePivotTablefieldlistontothePivotpallet.ThisactionwillautomaticallycreatePivotTablereportsandtheywillchangeeachtimeyoudropadditionalfieldnames,ormovefieldnamesaround.Presentedbelowarebutafewexamplesofhundredsofpossible reports thatcouldbeviewedwith thisdata throughthePivotTableformat.

This report shownabove shows the total resulting sales foreachmarketingcampaign foreachof the4monthsmarketingcampaignswereconducted.

In this screenwe see the same information is shown as apercentageof the total.A fewobservationsincludethe fact thatoverallRadioSpotsare themostprofitable typeofcampaign,butonly inAprilandJuly.InJanuaryandOctober, localadsanddirectmail,respectively,producebetterresults.Further,Aprilcampaignshadthebestresponseoverall.

Furtheranalysisinthescreenabovetellsusthatourresultsvarywidelyfromonecitytothenext.InNewYork,couponswere leasteffective,butcouponsweremosteffective inColumbus.PivotchartsbasedonPivotTabledatacanbemodifiedbypivotingand/ornarrowingthedata.TheycanalsobepublishedontheInternet(oronanIntranet)asinteractiveWebpages.Thisallowsuserstoplaywiththedata.Thechartbelowprovidesavisuallookatthedatashownabove.

FilteringPivotTables If you takea close lookat your resultingpivot tables, youwillnoticethatExcelautomatically insertsa filterbuttononeach field listasshownbythedropdownarrowsinthescreenbelow:

Thisdropdownfilterlistmakesiteasytorefineyourreporttoincludejustthedatayouwant.

DrillingPivotTablesAnothernicefeatureinpivottablesisthattheyareautomaticallydrillable. Simply double click on any number in a pivot report top have Excelautomaticallyinsertanewsheetandproducethedetailedreportunderlyingthenumberyouclickedon.Anexampleofthisisshownbelow:

PivotTableOptionsByrightmouseclickingonyourpivottableyouwillrevealseveraloptionsettingsboxesasshownbelow.Forexample,theseoptionsboxescontrolthetypesofsubtotalsproducedinyourpivotreports.Excelalsooffersapivottableoptionsboxaswellasa layoutwizardthatmakesproducingpivottablesalittleeasier.

DataTable(WhatifAnalysis)

Data tables arepartof a suiteof commands that are calledwhatif analysis tools.When youusedatatables,youaredoingwhatifanalysis.Whatifanalysisistheprocessofchangingthevaluesincellstoseehowthosechangeswillaffecttheoutcomeofformulasontheworksheet.Forexample,youcanuseadatatable to vary the interest rate and term length that areused in a loan todeterminepossiblemonthlypaymentamounts.

ThreecategoriesofWhatifAnalysisToolsTherearethreekindsofwhatifanalysistoolsinExcel:

1. DataTables2. GoalSeek3. Scenarios

A data table cannot accommodate more than two variables. If you want to analyze more than twovariables,youshouldinsteadusescenarios.Althoughitislimitedtoonlyoneortwovariables(onefortherowinputcellandoneforthecolumninputcell),adatatablecanincludeasmanydifferentvariablevaluesasyouwant.Ascenariocanhaveamaximumof32differentvalues,butyoucancreateasmanyscenariosasyouwant.

Loan Analysis In this exercise,we start by creating a simple Payment function tocalculatethepaymentamountofaloangivenaloanamount,interestrateandnumberofperiods.

The next step is to create a TwoWayData Table displaying the resulting payment amount given avarietyoflengthsoftheloan.Thisprocessisstartedbycreatingalistofthealternativeloanamounts,asshownbelowinB8,B9,B10,etc.CellC7mustreferencetheresultsyouwanttobedisplayedinthetable.

ThenextstepistohighlightthedatatablerangeandusetheDataTablecommandundertheDatamenu(asshownbelow)togeneratethedesiredtable.

Thisprocesswillgeneratethefollowingtable:

Thistabletellsusthatthesameloanamountwillrequireamonthlypaymentof$3,331topaytheloanoffinjust10years,andamonthlypaymentof$5,800torepaytheloaninjust5years.

Thenextstepinthisexerciseistogeneratealinechartbasedonthedatatablewejustcreated.Thislinechartwillprovidesomeinterestingobservationsregardingthebenefitsanddetrimentsofpayingoffloansoverlongerperiods.

Theresultingchartisshownasfollows:

Basedon this,noone shouldeverobtaina fairmarket loan formore than15 years, the reduction inpaymentssimplyarentworththeadditionallengthoftheloan.Thissamebasicbehaviorisseenwhetherthe interest rate is1%or100%.Theonly timeyoumightbe justified inobtaininga loan loner than15yearsmightbewhenyouareextendedafavorableinterestthisbetterthanafairmarketinterestrate.

Goal Seek

Ifyouknowtheresultthatyouwantfromaformula,butarenotsurewhatinputvaluetheformulaneedstogetthatresult,usetheGoalSeekfeature.Forexample,supposethatyouneedtoborrowsomemoney.Youknowhowmuchmoneyyouwant,howlongyouwanttotaketopayofftheloan,andhowmuchyoucanaffordtopayeachmonth.YoucanuseGoalSeektodeterminewhat interestrateyouwillneedtosecureinordertomeetyourloangoal.GoalSeekworksonlywithonevariableinputvalue.Ifyouwanttoacceptmorethanoneinputvalue;forexample,boththeloanamountandthemonthlypaymentamountforaloan,youusetheSolveraddindiscussedattheendofthismanual.

Scenarios

ScenarioManagerallowsyou to createand savemultiple what if scenarios (suchasbest case,mostlikely,andworstcasesscenarios).Youcanalsocreateasummarytableofthescenarioresultsinseconds.Itisparticularlyusefulforworksheetssuchasbudgetsinwhichusershaveoftensavedmultiplecopiesof

thesameworksheettoaccomplishthesameobjective.Anexampleisshownbelow.Inthisexample,atirecompanyhaspreparedarevenuebudgetforthecomingyear,andhascreatedthreealternativescenariostogeneratetherevenuesthatwillresultgivenavarietyofmarkupassumptionsinthiscase100%,110%and120%markups.

PressingthesummarybuttoninthescenariomanagerdialogboxwillcreatethefollowingPivotTableofpossiblealternativeresults.Hereweseedetailedrevenueprojectionsforalltiresandlaborfeesgivenallthreepossiblescenariosof100%,110%,and120%markup.

Withafewsimplecopypastecommands,thenewlycreateddatacanbepositionedandformattednexttotheoriginalprojectionsasshowninthescreenbelow.

Ofcoursethescenariosabovecouldhavebeencreatedeasilyusingsimpleformulasinsteadofusingthescenariomanagertoolasdescribedabove.Thisunderscoresthatbestpurposeofscenariomanagerwhichis tokeep trackofolderandchangingdata through time, rather thanproducingwhatif scenarios.Forexample,acomplexprojectioncontainingscenariosbasedonoriginalassumptions,revisedassumptions,and finalassumptionswillallowmanagement togobackand review theassumptionsused throughouttheproject,andseehowthoseassumptionschangedasprojectplanningprogressed.

DataTexttoColumns

Asdiscussedearlierinthismanual,oftenCPAsreceivedatafromtheirclientsorITdepartmentsthatisintextform.Whenthishappens,Excelcansplitthecontentsofoneormorecellsinacolumnanddistributethose contents as individualparts acrossother cells in adjacent columns. For example, theworksheetbelowcontainsacolumnof fullnamesandamounts thatyouwant tosplit intoseparatecolumns.TheTexttoColumnsWizardparsesthedataautomaticallyintoseparate

Select the cell, range (range: Two or more cells on a sheet. The cells in a range can be adjacent ornonadjacent.),orentirecolumnthatcontainsthetextvaluesthatyouwanttosplit.NoteArangethatyouwanttosplitcanincludeanynumberofrows,butitcanincludenomorethanonecolumn.Youalsoshouldkeepenoughblank