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ADVANCED EXCEL for Chartered Accountants CA.


SPREADSHEET A spreadsheet is the computer equivalent of a paper ledger sheet. It consists of a grid made from columns and rows. It is an environment that can make number manipulation easy and somewhat painless. The following is the spreadsheet opening screen of MS Excel (version 2007)
Title Menu Tool Bar / Name Active

Navigatio Zoom

Basics of a Spreadsheet So let's get started digging into what makes a spreadsheet work. Spreadsheets are made up of

columns rows and their intersections are called cells

In each cell there may be the following types of data

text (labels)

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number data (constants) formulas (mathematical equations that do all the work)

In a spreadsheet there are three basic types of data that can be entered.

labels - (text with no numerical value) constants - (just a number -- constant value) formulas* - (a mathematical equation used to calculate) data types LABEL CONSTANT examples Name or Wage or Days 5 or 3.75 or -7.4 descriptions anything that is just text any number math equation

FORMULA =5+3 or = 8*5+3 *ALL formulas MUST begin with an equal sign ( =).

Formulas Formulas are entries that have an equation that calculates the value to display. We DO NOT type in the numbers we are looking for; we type in the equation. This equation will be updated upon the change or entry of any data that is referenced in the equation. In our below example, the solution is $ 11,122.22 (The $ symbol is a default settings, you can change the default settings by using format cells command). This was NOT typed into the keyboard. The formula that was typed into the spreadsheet was: = PMT(C5,C6,C3) C4 (annual interest rate) was divided by 12 to get C5 because there are 12 months in a year. Dividing by 12 will give us the interest rate for the payment period - in this case a payment period of one
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month. It is also important to type in the reference to the constants instead of the constants. Had I entered =PMT(0.01,60,-500000) my formula would only work for that particular set of data. I could change the months above and the payment would not change. Remember to enter the cell where the data is stored and NOT the data itself. Formulas are mathematical equations. There is a list of the functions available within Excel under the menu INSERT down to Function. Formulas OR Functions MUST BEGIN with an equal sign (=). Again, we use formulas to CALCULATE a value to be displayed.

DATE Excel stores dates in sequential serial numbers beginning with January 1st, 1900 as 1. January 1st, 2006 is 38718 because it's 38,718 days after January 1st, 1900. Tip: Volatile formulas are formulas that recalculate

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU every time the workbook calculates. The =NOW formula (among others) is a Volatile formula. If you open a workbook that contains a volatile formula, you make no changes, and close it, don't be surprised if you're asked to save the workbook. That's because the value that the recalculation created did, in fact, change in your workbook. Now The Now function returns the serial number of the current date and time. If the cell format was General before function entered, result date the was the is

formatted as a

Today The Today function returns the serial number of the current date. The serial number is the date-time code used by Microsoft Excel for date and time calculations. If the cell format was General before the function was entered, the result is formatted as a date. Date Formulas and Functions Today's date and time: = NOW() Today's date only: = TODAY() Day of the month for a specific date: =DAY(TODAY()) Day of the week for a specific date (set the cell format to custom format "dddd"): =WEEKDAY(TODAY()) =TEXT(WEEKDAY(TODAY()),"dddd") Month of the year for a specific date: =MONTH(TODAY()) Year for a specific date: =YEAR(TODAY()) Date for a specific year, month and day (Example returns 6/12/2005): =DATE(2005,6,12) Add days to a date (one week from today): =TODAY()+7 Subtract days from a date (one week ago today): =TODAY()-7 Last day of the this month: =DATE(YEAR(TODAY()),MONTH(TODAY())+1,1)-1

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU or =EOMONTH(TODAY(),0) Last workday of the current month: IF (WEEKDAY (EOMONTH

(TODAY(),0))=6,EOMONTH(TODAY(),0) -1, IF (WEEKDAY(EOMONTH(TODAY(),0))=1, EOMONTH (TODAY(),0)-2,EOMONTH(TODAY(),0))) or =WORKDAY(DATE(YEAR(TODAY()),MONTH(TODAY())+1,1),-1,Holidays) First workday of the following month: =WORKDAY(DATE(YEAR(TODAY()),MONTH(TODAY())+1,1)-1,1,Holidays) Number of workdays in the current month:= NETWORKDAYS (DATE(YEAR(TODAY()), MONTH (TODAY()),1),EOMONTH(TODAY(),0),Holidays) Last workday in range of days (A1 is start date, B1 is number of days in the period): =WORKDAYS(A1,B1,Holidays) DATEDIF() Syntax & Examples The DATEDIF() function uses the following syntax: =DATEDIF(start_date,end_date,"code") The start date must be less than the end date, or the function returns an error. The following are the codes for the DATEDIF() function: "y" Years "m" Months "d" Days "md" Difference between days in a period; no month and years "ym" Difference between the months in a period, no days and years "yd" Difference between the days in a period, no years Examples To calculate the number of years between two dates: =DATEDIF(A1,TODAY(),"y") & " Years" To calculate the number of years and months between two dates: =DATEDIF(A1,TODAY(),"y") & " Years, " & DATEDIF(A1,TODAY(),"ym") & " Months" To calculate the number of years, months, and days between two dates: =DATEDIF(A1,TODAY(),"y") & " Years, " & DATEDIF(A1,TODAY(),"ym") & " Months, " & DATEDIF(A1,TODAY(),"md") & " Days" Using the TEXT() function to calculate dates. You can use the TEXT() to get the number of days or weeks between two dates: Examples Number of days: =VALUE(TEXT((NOW()-$A$1)/24,"[h]")) Number of weeks: =VALUE(TEXT((NOW()-$A$1)/168,"[h]"))

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Note: Some of these formulas and functions require use of the Analysis Toolpak Addin. Just go to ToolsAddins, and put a check next to Analysis Toolpak if you get a #NAME? error. Note: Some of these formulas and functions use a named range called "Holidays". To create it, make a list of dates in a column. Assign the named range to the cells.

A simple example of an IF statement is giving grades for percentages. The Standard weight for given height is given in cell B2, your weight is keyed in cell B3. The IF statement in cell B4 is given in the formula bar. An IF statement has at least 3 parts called arguments. When you type an IF statement, the tool tip automatically appears to tell you the 3 arguments required.

The first part of the IF statement is called a logical test, which is also often referred to as a condition. Tip. Note that all text is surrounded by quotes when used in formulas. There are a few exceptions, such as True and False. We like to think of the commas that separate the 3 arguments as words. The first comma means give me, and the second means otherwise, give me. So if we wrote the above formula in English instead, it would read like this: If the value in cell A2 is greater than 60, give me a B, otherwise give me an A.

If we dont provide the third part of the argument, we simply get the answer returned to us: A2 is not greater than 60, so our condition or logical test is FALSE. Tip. You may only use 7 nested IF statements. That means 8 IFs can be in your formula; 7 being nested inside the first. Even in Excel 2003, there is no indication that the problem with the formula is too many IFs. If you have a requirement for more than 7, use VLOOKUP, instead.

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Lets break down the formula, IF by IF: =IF(A1>60,D

If the value in A1 is greater than 60, put a D in cell B2. IF(A1>70,C

If the value in A1 is greater than 70, put a C in cell B2. IF(A1>80,B

If the value in A1 is greater than 80, put a B in cell B2. IF(A1>90,A

If the value in A1 is greater than 90, put an A in cell B2. F

Otherwiseif none of the above conditions are metput an F in cell B2. Combining IF with other formulas. IF with AND Lets suppose that a sales bonus is based on having made at least 20 sales call, and having made at least 15,000 in sales. We must check both conditions, using an AND statement.

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IF with OR Now, lets use IF with an OR statement. In this case, a sales bonus is based on having made at least 20 sales calls, OR having made at least 15,000 in sales. If either condition is met, the bonus is given.

IF with OR and AND Imagine that employees with perfect attendance become a member of an exclusive employee's club. When this occurs, they're given special consideration on bonuses. So, in this case, if they're a member OR they sell more than 15,000 and make at least 20 sales calls, they receive the bonus.

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Drop-Down Using Data Validation in Microsoft Excel: The following steps will show how to create a drop-down list using either an absolute reference or a named range. When creating forms, you can force the user to choose one of the options, thus reducing errors. If you need what is called "conditional" or "cascading" drop-downs, where the second dropdown is dependent upon the choice in the first drop-down, and so on, you may do so. Step 1: Create a list of options from which to choose. Start by first creating a list of the drop-down choices you want to provide. Generally, when creating forms, you may need to provide more than one drop-down. If you create these on a separate worksheet, they are "out of the way" when your form is active. Because we use a separate worksheet, however, we must use a named range for our options list. It is not possible to use typical cell referencing when your option choices reside on another worksheet. Because of this, we recommend you always use a named range when creating this type of drop-down.

We chose department names for our example. You can list as many as you like, but don't leave any spaces. Our example contains the list of choices on a worksheet called "Data". Tip. Make the first option in your list "Choose" or "Pick from List" to provide directions to the user of the form. Step 2: Name the range that contains the options. We then select our range of options, and assign a name to the range by typing it into the Name box (that drop-down just above column A in any worksheet), as shown below, and then hit Enter. Alternatively, you can select the options, and choose from the menus Insert NameDefine, and type the name there, and hit Enter.

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Our sample has a named range called "depts". Step 3: Assign validation to the cell.

On our "front-end" worksheetthat is, the worksheet that contains the form, we provide a label for the drop-down in B5. We put a nice heavy border on cell C5. Then, select cell C5 and choose from the menu DataValidation, and the Data Validation dialog appears. From the Allow: drop-down, we choose List, as shown below:

We then type an equal sign, followed by our range name, into the Source: box, as shown:

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Tip. Don't forget the equal sign! If you do, the only option that will appear in your dropdown is the word that you typed! Alternatively, if you have only several options from which to choose, and they're not likely to change, you can actually skip Step 1 and just type the list into the Source: box, separating each option with commas, as shown below. When typing text options directly into the Source: box, no equal sign is required.

Hit the OK button to apply the Data Validation to your cell. Click on the cell to activate it again, and a drop-down arrow appears next to your cell.

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Step 4: Test to see that it worked. Click the drop-down arrow to view your choices. Select one of the choices.

Check out the Input Message tab of the Data Validation dialog. Any Input Message you provide is displayed as a tool-tip when the cell is selected. Tip. The arrow doesn't show unless the cell is selected. There is no way to alter it to show the arrow using the Data Validation method. Use Conditional Formatting to format the cell to have a colored background if it is blank. This lets the user know that a choice is to be made. Tip. Making the dropdown provide unique options from a list that contains the same options multiple times requires custom programming. To "copy" the drop-down to other cells, use the Format Painter.

If you perform a task repeatedly in Microsoft Excel, you can automate the task with a macro. A macro is a series of commands and functions that are stored in a Microsoft Visual Basic module and can be run whenever you need to perform the task. For example, if you often enter long text strings in cells, you can create a macro to format those cells so that the text wraps. You can even create a big financial model using macros is you feel to create it and use it repeatedly.

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU The following are the steps you need to record a macro, to make the macro available for use in any single file or for use in any file you open, and to assign a toolbar button to run the macro. One of the best reasons for creating a macro could be that you must format files from external sources on a daily basis. If you are fairly accomplished in Excel, you will know that there are several steps you must take to accomplish it. The next time you need to perform this or a similar task, record the tasks as a macro and you will only have to press a button to perform them again. Step 1: Prepare to Record If you would like the macro to be available in a specific file, open that file. From the menu, choose ToolsMacroRecord New Macro. The following dialog box will appear: In the Macro name box, enter the name you would like to use for your macro. It must not have any spaces and should not contain special characters. Decide where to store the macro. If you would like it available in the current workbook only, hit the Store Macro in dropdown box and select your active workbook's name. If you would like the macro to be available for use with any file, select Personal Macro Workbook (which is a file that will be called Personal.xls). Give the macro any description you like in the Description box. By default, the description will state the date the macro was recorded, and the user name. The user name automatically comes from the information under Word's ToolsOptions, User Info tab. The Stop Recording toolbar appear. There are two buttons on the Stop Recording toolbar. The square is used to STOP recording and the lines and circle are used to PAUSE recording. Tip: If you accidentally close the Stop Recording toolbar, go to View Toolbars and click on the Stop Recording toolbar. If you accidentally use the X on the Stop Recording toolbar to stop recording a macro, go to ViewToolbars and click on the Stop Recording toolbar. Step 2: Record the Macro Perform the tasks you would like your new macro to perform for you. If you need to interrupt the macro recording to perform some non-related work, press the Pause button on the Stop Recording toolbar. Press the Pause button again to continue recording. Hit the Stop button to Stop recording when you have finished recording your tasks. Step 3: Test the Macro Always test a macro, particularly if you have created it to run for someone else. To test the macro, hit ToolsMacroMacros, and double-click the macro name.

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Step 4: Assign the Macro to a Toolbar Button Hit ToolsCustomize and choose the Commands tab. The following dialog box appears:

Under the Categories (left), scroll down and choose Macros. Click on the smiley icon and drag it up to any location you choose on any toolbar you choose. While dragging, you will see an X hanging on your mouse pointer. It is not safe to drop the button. Your mouse pointer must have a plus sign (+) hanging on it before you lift your finger from the mouse or the icon will not be placed.

Once your icon is placed on a toolbar, click the Modify Selection button, and various options will appear. The following describes only those options that apply for our purposes here: Name: Type in the name of the macro as it should appear on your toolbar if you are going to use the text style button (described below). Reset Button Image: Select this only if you have begun to edit an existing button image and you would like to reset it to the default. Edit Button Image: Select this option to "draw" your own button image.

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Change Button Image: Select this option to change the existing button image to one of your choosing from Office's collection of button images. Default Style: Clicking this button makes the button on the toolbar show just the icon and no text. Text Only (always): Clicking this button makes the button on the toolbar show just the text as it is shown in the Name box, which you can change. Image and Text: Clicking this button makes the button on the toolbar show both the icon and the text. When the button appears exactly as you would like it to appear on the toolbar, hit the close button on the Customize dialog box. The first time you hit your new toolbar button, you are asked which macro you want it to run. You'll pick your macro from the dialog that pops up. The next time you click your toolbar button, it'll run the macro.

Goal Seek: (Unknown input & Known output)

Goal Seek is used when you know what answer you want, but don't know the exact figure to input for that answer. For example, you're quite certain that 8 multiplied by something equals 56. You just not sure what that missing number is. Is it 8 multiplied by 6? Or Is it 8 multiplied by 7? Goal Seek will tell you the answer. We'll test that example out right now. So start a new spreadsheet, and create one the same as in the image below:

Before you can use Goal Seek, Excel needs certain things from you. First it needs some sort of formula to work with. In the image above we have the simple formula =B1 * B2. We've put this in cell B3. But the answer is wrong for us. We had a Goal of 56 (8 times something). We want to know which number you have to multiply 8 by in order to get the answer 56. We tried 8 times 6, and that gave the answer of 48. So we have to try again. Instead of us puzzling the answer out, we can let Goal Seek handle it. So do the following: From the Excel menu bar, click on Tools From the drop down menu, click on Goal Seek A dialogue box pops up like the one below:

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The dialogue box needs a little explaining. "Set cell" is the answer you're looking for, this is the Goal. Set cell needs a formula or function to work with. Our formula is in cell B3, so if your "Set cell" text box does not say B3, click inside it and type B3. "To Value" is the actual answer you're looking for. With "Set cell", you're just telling Excel where the formula is. With "To Value" you have to tell Excel what answer you're looking for. We wanted an answer of 56 for our formula. So click inside the "To Value" text box and type 56. "By Changing Cell" is the missing bit. This is the part of the formula that needs to change in order to get the answer you want. In our formula we have an 8 and a 6. Clearly, the 6 is the number that has to go. So the cell that needs to change is B2. So go ahead and enter B2 in the "By Changing Cell" text box. Your dialogue box should now look like this:

Click OK when your dialogue box looks like the one above. Excel will then Set the cell B3 to the Value of 56, and change the figure in cell B2. You'll also get a dialogue box like the one below:

Click OK on the dialogue box. Your new spreadsheet will look like this one:

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So Goal Seek has given us the answer we wanted: it is 7 that when times by 8 equals 56. Goal Seek advanced Example: Input these figures and formulas into a spreadsheet.

Set Cell:

To Value:

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU By changing cell: To give unit answer as 12575 units

Cell Locking
There's pretty much just two reasons for locking cells: To restrict entry (locked cells may not be changed) To allow tabbing to different cells for entry (unlocked cells can be tabbed through)

The points you should know are these: All cells are locked by default Cell locking doesn't take effect until you protect your worksheet (ToolsProtectionProtect Sheet to "lock" or ToolsProtectionUnprotect Sheet to "unlock") If you want most cells locked, then only unlock those you want users to be able to change If you want most cells unlocked, then unlock them all first, and then lock only those you want prohibit users from changing Select All Cells Just click the button above Row 1 and to the left of Column A. This selects all the cells on your worksheet.

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Lock/Unlock Cells Go to FormatCells. Choose the Protection tab. Lock or unlock the cells as desired.

You can quickly lock/unlock cells by locking or unlocking one or more cells, then continue by using the F4 button, which repeats the last command. So, while you may have 30 different cells on a worksheet that you want to unlock, you can select, F4, select, F4...

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The INDIRECT worksheet function is a useful tool for creating cell or range references "on the fly", as a formula is evaluated, rather than "hard coding" them into the formula. In its simplest usage, the INDIRECT function allows you to put the address of one cell in another, and get data from the first cell by referencing the second. For example, if cell A1 has the value "C3", then =INDIRECT(A1) will return the value in C3.

The real power of the INDIRECT function is that it can turn any string into a reference. This includes any string that you build up using string constants and the values of other cells in the formula, strung together with the & concatenation operator. For example, the simple formula =SUM(A1:A5) will sum the values in the range A1:A5. However, suppose you want to be able to specify which range of rows to sum "on the fly", without having to change the formula. The INDIRECT function allows you to do this. Suppose you put your starting row cell B1, and your ending row in B2. Then, you can use the formula =SUM(INDIRECT("A"&B1):INDIRECT(A"&B2)) The argument to the INDIRECT function is "A"&B1&":A"&C1

If B1 contains 1 and B2 contains 5, this evaluates to the string "A1:A5". The INDIRECT function converts this string to an actual range reference, which is passed to the SUM function. Another useful feature of the INDIRECT function is that since it takes string argument, you can use it to work with cell references that you don't want Excel to automatically change when you insert or delete rows. Normally, Excel will change cell references when you insert or delete rows or columns, even when you use absolute referencing. If you have the formula =SUM($A$1:$A$10), and then insert a row at row 5, Excel will convert the formula to =SUM($A$1:$A$11). If you don't want this to happen, use the INDIRECT function to change a text string to a reference: =SUM(INDIRECT("A1:A10")) Since Excel sees "A1:A10" as a text string rather than a range reference, it will not change it when rows or columns are deleted or inserted. This feature is important when working with some array formulas. Frequently, an array formula will use the ROW() function to return an array of numbers. For example, the

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU following formula will return the average of the 10 largest numbers in the range A1:A60 : =AVERAGE(LARGE(A1:A60,ROW(1:10))) However, if you insert a row between rows 1 and 10, Excel will change the formula to =AVERAGE(LARGE(A1:A60,ROW(1:11))) which will return the average of the 11 largest numbers. If we use the function with a string, Excel won't change the reference, so the formula will remain correct, regardless of whether and where rows are inserted or deleted. =AVERAGE(LARGE(A1:A60,ROW(INDIRECT("1:10")))) You can use the INDIRECT function in conjunction with the ADDRESS function. The ADDRESS function uses row and column numbers to create a string address. For example, the formula =ADDRESS(5,6) returns the string $F$5, since $F$5 is the 5th row of column 6. You can use then pass this to INDIRECT to get the value in cell F5. For example, =INDIRECT(ADDRESS(5,6)) . While this example may seem trivial, it illustrates a technique that you can use to build more complicated formulas.

If you really want to master formulas in Excel, you need to know how to use array formulas. You can use array formulas to do the seemingly impossible, such as: Count the number of characters in a range of cells. Sum numbers that meet certain conditions, such as the lowest values in a range or numbers that fall between an upper and lower boundary. Sum every nth value in a range of values. Lets introduce array formulas and explain how to enter, edit, and troubleshoot them. Note: You may see array formulas referred to as "CSE formulas," because you press CTRL + SHIFT + ENTER to enter them into your workbooks. The only difference is the name. An array is just a collection of items. In Excel, those items can reside in a single row (called a onedimensional horizontal array), a column (a one-dimensional vertical array), or multiple rows and columns (a two-dimensional array). An array formula is a formula that can perform multiple calculations on one or more of the items in an array. Array formulas can return either multiple results or a single result. For example, you can place an array formula in a range of cells and calculate a column or row of subtotals. You can also place a formula in a single cell and calculate a single amount. An array formula that resides in multiple cells is called

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU (logically enough) a multi-cell formula, and an array formula that resides in a single cell is called a singlecell formula. This exercise shows you how to use multi-cell and single-cell array formulas to calculate a set of sales figures. The first set of steps uses a multi-cell formula to calculate a set of subtotals. The second set uses a single-cell formula to calculate a grand total. To create a multi-cell array formula 1. To multiply the values in the array (the cell range C2 through D11), select cells E2 through E11, and then enter the following formula in the formula bar: =C2:C11*D2:D11 2. Press CTRL+SHIFT+ENTER.

Excel surrounds the formula with braces ({ }) and places an instance of the formula in each cell of the selected range. This happens very quickly, so what you see in column E is the total sales amount for each car type for each sales person.

To create a single-cell array formula 1. 2. In cell A13 of the workbook, type Total Sales. In cell B13, enter the following formula, and then press CTRL+SHIFT+ENTER:

=SUM(C2:C11*D2:D11) In this case, Excel multiplies the values in the array (the cell range C2 through D11) and then uses the SUM function to add the totals together. The result is a grand total of Rs: 111,800 in sales. Do you see how

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU powerful this type of formula can be? For example, say you have 15,000 rows of data. You can sum part or all of that data with a single formula in a single cell. Also, notice that the single-cell formula is completely independent of the multi-cell formula. This points to another advantage of using array formulas - flexibility. You can take any number of actions, such as changing the formulas in column E or deleting that column altogether, without affecting the single-cell formula. Array formulas also offer these advantages: Consistency If you click any of the cells from E2 downward, you see the same formula. That consistency can help ensure greater accuracy. Safety You cannot overwrite part of a multi-cell array formula. For example, click cell E3 and press DELETE. You have to either select the entire range of cells and change the formula for the entire array, or leave it as is. Smaller file sizes You can often use a single array formula instead of several intermediate

formulas. For example, the workbook you created for this exercise uses two array formulas. If you had used standard formulas (such as =C2*D2), you would have used 11 different formulas.

One of the most basic functions in any spreadsheet is to return an answer based upon some condition. This becomes especially useful when counting or summing based upon that condition. One condition is useful, but multiple conditions extend the functionality and flexibility, so that you can count say the number of items sold by part number and by month. There are a number of ways that this can be achieved within Excel, on one particular function, the SUMPRODUCT function, which by creative use has evolved a flexibility undreamt of by its originators in Microsoft. SUMPRODUCT is one of the most versatile functions provided in Excel. In its most basic form, SUMPRODUCT multiplies corresponding members in given arrays, and returns the sum of those products. Lets discuss the classic use of SUMPRODUCT, how creativity and inbuilt flexibility has enabled it to evolve into a far more useful function, and some of the techniques being deployed. Standard Use of SUMPRODUCT In it's classic form, SUMPRODUCT multiplies each value in one array by the corresponding value in another array, and returns the summed result. As an example, if cells A1:A3 contain the values 1,2,3 and B1:B3 contain 10,20,30, then


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returns 140, or (1*10)+(2*20)+(3*30)=10+40+90=140.

This is a useful function, but nothing more than that. A further, more 'creative' use of SUMPRODUCT has evolved, and is still evolving

VLOOKUP searches for a value in the first column of a table array and returns a value in the same row from another column in the table array. The V in VLOOKUP stands for vertical. Use VLOOKUP instead of HLOOKUP when your comparison values are located in a column to the left of the data that you want to find. A lot of people try to use Excel as a database. While it can work as a database, some of the tasks that would be very easy in a database program are fairly complex in Excel. One of these tasks is matching two lists based on a common field; this can be easily accomplished using Excel VLOOKUP. You will find the function VLOOKUP to be extremely useful so check out an example of when and how to use this function below. The following example makes the application of VLOOKUP simple. Create a master table of depreciation rates and name it as RATE as below.

To find the rate enter the VLOOKUP formula as given below to get the deprecation rate as answer:

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VLOOKUP allows you to save time when matching lists of data. Take the time to learn the basic use and you will be able to do far more powerful tasks in Excel.

By Decimal Using ROUND ROUNDUP and ROUNDDOWN work exactly the same way as ROUND, except of course, they force the up or down part. You can round any value to the nearest decimal place using the ROUND function. The following graphic demonstrates the use of the ROUND function to 1 digit. The 1 indicates how many digits to the right of the decimal point should be used in the result. In this example, the result is 123456.8 because it rounds the .789 to .8.

The following demonstrates how to round to the nearest multiple of 10. We tell it to be -1 digits from the decimal point, which means how many digits to the left of the decimal point. This results in a value of 123460.

If you want to round to the nearest whole number, then you simply put a 0 as the number of digits, as shown:

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To the Nearest Nth Using MROUND How do you round to the nearest quarter? What about in increments of 25? Use MROUND. This function requires that you turn on use of the Analysis Toolpak. Go to the Tools menu, and choose Addins. Then check the box next to Analysis Toolpak. You only need to check this option once, but if you send your workbook out to others, you may need to tell them to turn on the Analysis Toolpak, or they'll get a #NAME? error in the cell.

Below, we demonstrate how to round the value to the nearest quarter or .25. If you like all your prices in your pricelist to be in 25-paise increments, this is how you'd do it.

Guarantee an Ending Value Now what if you wanted all your prices to be X Rupees and 95-paise? (Like Bata Store!). So your prices would be 2.95, 3.95, 4.95, etc. This is accomplished by rounding to the nearest dollar and subtracting 5 cents. As shown:

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Range Names
What are Range Names Range names are a very important idea within Excel. A single cell or a group of cells can be defined as a name and referred to by that name within that worksheet, workbook and also across workbooks. Broadly a range name can be classified into two categories: Name defined for a single cell Name defined for a group of cells

While name given to a single cell can be compared to a variable defined within a program, a range name containing a group of cells can be compared to a mini database. These also lend themselves to be exploited by most of the functions within Excel. It is perfectly possible to work without any range names, but this could become cumbersome when a worksheet gets sizeable and contains a number of formulas. The list of names defined could be found by clicking on the name box at the left of the formula bar. You can also use the Go To command by using F5 key and enter the name to go the name area. How to define Range Names Select a single cell or a range of cells for which a name is to be assigned. Then from the Insert menu, select Names and Define. In the dialog box enter the name for the range. The insert name dialog box displays the existing names defined. Enter the name and click on Add button. Note that this refers to the box pointing to the cell or range of cells from where you called the Insert Name command and also that the reference is absolute. This means that the name is not dependent on the cursor position and will always refer to the particular location. However by allowing the reference to be relative we can define ranges which are dynamic and the area selected will be dependent on the position of the cursor. Why use Range Names Readability: The worksheets become readable. It is always easier to understand a formula, Production * Rate rather than B6*D5. Range names are intelligent Range names have the ability to apply the names as a variable according to the context. Let us assume that you have given a range name Production to quantity of production from Year 1 through Year 5. (E.g. C in worksheet) The value is to be derived by multiplying these values by a single rate what we will define as

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU SaleRate. When we apply the formula Production * SaleRate for the first year and copy it across the years 2 through 5, the formula remains the same but the value is correctly arrived at. When it comes to the second year, the second element within the range production has correctly been used. The same principle is also at work when we perform additions of elements within a range name. (E.g. B in worksheet). Here East, West, North and South are range names. Each of these names contains a column of value and when addition is performed, the right element within the name is applied. If we try to add say East + West in a location like J31, Value error will be returned, as the correct context is not available to the function. Useful within functions When functions are used within Excel, the range names will become the standard way. The functions can become a little complicated and use of names is necessary to easily understand the model we are building. We can also capitalise on the ability of the names to convert them in to absolute or relative reference depending on the context.

Tip: Right click menus: Using the Right click to select the menu is the fastest way to work with a spreadsheet. This approach is not confined to just Excel but to all office products. The right click always brings up context sensitive menus. Thus choice is narrowed to the possible actions that can be applied to the object. You will observe that navigating to different sections of the worksheet and using the right click always brings up different menus that are relevant to your current selection.

There may a situation in which multiple files have to be opened together. This requirement depends on the values being shared across multiple files. By saving the related files as a workspace, you can open all the files together by just opening the workspace. To achieve this first open all the related files and ensure that only the required files are opened and other un-related files have been closed. Click File Save Workspace and in the dialogue specify the name and location. If you want to open all the related files together click File Open and in the type of files list choose workspaces. Excel will list all available workspace definitions. Select the workspace to open.

File handling
Excel offers number of file handling possibilities. Here we will review some of the features:

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU File open Open not only Excel files but files of other popular spreadsheet applications also. The list of type of files that Excel will open will appear when you click the File of type list in the file open dialogue. If the file format clearly defines the field positions, Excel will immediately open the file. Opening text files In the case of text file where this is not so, Excel will guide you through a Text Import Wizard. Select the text file you want to open. You can start by select specifying the type of file in the File Name drop down. The following are the steps involved: Step 1 of 3 Specify if the file type is Delimited or Fixed width. Delimited type is where the fields are separated through a field marker. Select fixed width if no specific delimiters have been used. It is common practice to specify a character like Tab : ; as field separators. These characters will be added at the end of each field to mark the end of the field content. Step 2 of 3 The screen displayed will be depending upon the selection in earlier screen. If the file type is delimited, then the list of field markers will be displayed. Click the appropriate field marker and Excel will automatically cut fields at the location of field markers. If the file type is fixed width, then Excel will allow you to specify the field width. Simply click in the data preview window and the field will be cut at that point. The click acts as a toggle. To remove the field cut, click again on that. You can also click the line where a field is being cut and move it to a required location. Browse through the data and mark fields where required. Step 3 of 3 This lets you select the format applicable for the columns. You can also mark the columns as to be skipped. These will not be imported. Once you click Finish, the data will be converted to Excel format. Files based on templates Templates are files, which have certain definitions and formatting. Typical example will be an invoice layout file. Whenever you wish to print an invoice you may want the new file to be created to be based on a template. To attach a file to a template while creating a new file click File New, a dialogue will appear. The general tab will display the templates you have defined. Choose the applicable template. The file loaded will be similar to the template file.

Cell referencing
There are two types of cell referencing: Relative Absolute Relative reference The relative referencing is fundamental to Excel and without which the worksheet will be unworkable. We refer to the cell by using Column and row co-ordinates. Letters A, B, C, to IV are

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU used to denote the 256 columns and numbers 1 to 65,536 are used to denote the rows. In a typical formula whenever we want to refer to the cell contents we use the cell address as a combination of column and row reference to point to a cell. Let us assume that a formula is entered in cell F10 as =A10. If this formula is copied to other columns the column reference is adjusted. If the formula is copied to cell H10, the formula will now read as =C10. The column reference A has been substituted with C. Similarly if the formula is copied down then the reference will be adjusted for rows. If the formula from F10 is copied to F15 then the new formula in cell F15 will read =A15. If the formula is copied both across and down, then the both column and row references will be adjusted suitably. For e.g. If the formula in cell F10 is copied to cell H15, the new formula in cell H15 will read as =C15. Absolute reference In the case of absolute reference, the references to the original row and/or column references do not change and always point to original row/column reference. Whenever a $ sign is added to the column/row reference, the reference is made absolute. For e.g. in cell F10 if we have a formula as =$A$10, there will be now change in the formula if we copy this to cell H15. The new formula in cell H15 will still read as =$a$10 as the references have been frozen. There are three possibilities here: Both row and column references are absolute ($A$10) Only column reference is absolute and row reference will vary ($A10) Only the row reference is absolute and column reference will vary (A$10) If the cell F10 contains a formula as $A10, if it is copied to other columns, the column reference will point to A only. However the row reference will change relatively. Similarly if the formula is =A$10, then the row reference will always be 10, but the column reference will change relatively. Using names The complexity is using cell references especially where we have to use a combination of row and column absolute reference can be easily overcome by using names. Range names will automatically use relative or absolute reference according to the context.

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Character Functions
There are a number of useful character functions by which we can put together character strings in different cells and also split the strings. The character functions are described below: =CONCATENATE(text This function adds the values found in the argument list together 1, [text2], ) =LEFT(text, [num of In a given string, number of characters from left of string chars]) =RIGHT(text, [num of In a given string, number of characters from right of string chars]) =Mid(text, start num, , In a given string, anchors at the character specified as the start num of chars) number and displays the next number of characters in the string. Instead of using the concatenate function, the & can also be used to add strings together. For E.g. =A1&B1&C1 would put together the values in cells A1, B1 and C1.
Example of Character Functions D E sample text

A 4 5 6 7 8 9 10 11 12 13 14 15 16

B This is

C a

G H This is a sample text This is a sample text There are 5 boxes



5 boxes

Length of the first string Left 5 characters Right 5 characters 5 Character starting from 6th position This text is a

21 =LEN(G4)

=CONCATENATE(B4," ",C4," ",D4," ",E4) =B4&" "&C4&" "&D4&" "&E4 =RIGHT(G4,5) =LEFT(G4,5)


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The count functions count the number of records in a given range. The function has variants and counts cells containing numeric, blanks and non-blanks. The functions are as below: =COUNT(value1, [value2], ) =COUNTA(value1, [value2], ) =COUNTBLANK(range) Returns the number of cells containing numeric value in the argument list and date is considered as a numeric value. Returns the count of cells which are not blank in the argument list Returns the number of cells which contain blank in the range

Example Count function in use A B C D E F G H I J K L 4 List A List B List A List B List A List B 5 6 45 3 45 3 45 3 7 92 92 92 8 ABC 28 ABC 28 ABC 28 9 10-Jan-96 0 10-Jan-96 0 10-Jan-96 0 10 200 #DIV/0! 200 #DIV/0! 200 #DIV/0! 11 12 Count CountA CountBlank 13 4 3 5 4 0 1 14 15 16 17 =COUNT(B6:B10) =COUNTA(F6:F10) =COUNTBLANK(J6:J10)

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The subtotal function performs a number of functions including sum of range of values. Subtotals can be used to prepare grand totals without having to call the individual group totals into summary. The syntax for the subtotal is given below: =subtotal (function number, ref1, [ref2], ) The first argument decides the type of function to use and the second argument is the values which will be used by the function. Subtotal function will ignore previous subtotals and will include only data values in its calculation. The following table gives the details of the function the subtotal function uses: Function number 1 2 3 4 5 6 7 8 9 10 11 Function AVERAGE COUNT COUNTA MAX MIN PRODUCT STDEV STDEVP SUM VAR VARP

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Example of Subtotal C D Units WeekNo generated 500 1 856 1 127 1 558 1 797 1 797 1 263 1 3898 =SUBTOTAL(9,C4:C10) 157 526 703 526 716 732 604 3964 626 838 754 446 958 892 963 5477 166 590 432 266 454 965 703 3576 16915 2 2 2 2 2 2 2 =SUBTOTAL(9,C13:C19) 3 3 3 3 3 3 3

A 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38

B Date 01-Jan-03 02-Jan-03 03-Jan-03 04-Jan-03 05-Jan-03 06-Jan-03 07-Jan-03

08-Jan-03 09-Jan-03 10-Jan-03 11-Jan-03 12-Jan-03 13-Jan-03 14-Jan-03

15-Jan-03 16-Jan-03 17-Jan-03 18-Jan-03 19-Jan-03 20-Jan-03 21-Jan-03

22-Jan-03 23-Jan-03 24-Jan-03 25-Jan-03 26-Jan-03 27-Jan-03 28-Jan-03

4 4 4 4 4 4 4

Grand Total


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Sort enables a quick sort of a single column or does a multiple column sort. Some of the sort criteria are listed below: Blanks are always pushed to the last Generally sort is not case sensitive unless specifically set Numbers sorted from smallest negative to largest positive Even though sort gives you option to sort up to 3 columns, you can go beyond that by concatenating columns and perform a sort based on the combined column. Usually the column sort will meet the normal requirements. Besides ascending and descending Sort is also possible based on a custom list. To define a custom list Click Tools Options and in the dialogue box select Custom Lists. Click Add and enter the series. Separate each field with a comma. While sorting the list, when you are in the sort dialogue, click Options and select the sort order from the drop down list. Sort can also act on columns by sorting them left to right or right to left. When you are within the sort dialogue click Options and choose Sort left to right. A second dialogue box will appear which will ask you value in which row is to be used for sorting. Row 1 will be the header. You can choose the appropriate row. The data list in sort has to obey some rules. The values in rows if defined through formulas then sort will corrupt the data. Let us say that your list has data from cell A1 to E50. If a cell in row 45 (B20) if referring to a value in cell B100 which is outside the list or E20 which is within the list, then after sorting you will note that the formula defined have changed and it is now displaying junk value. This is so because the sort function after sorting the data is trying copy the formula to a its new location and in that process applies its rule of maintaining relative reference. In the example shown above cell B20 is referring to the cell B100 and in other words the cell is referring to 80 rows below it in the same column. Now after sort if the record has been moved to 2nd want the cell to always refer to B100. Such situations these formulas should be defined using absolute reference. Example of sort Data sorted on Year (ascending) and invoice value (descending)

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inv_ no year_ no 48 12 45 96 42 38 78 11 74 79 10 99 26 14 95 100 15 72 33 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003 inv_ date customer_ no line_ no 13-Apr-02 03-Apr-02 12-Apr-02 28-Apr-02 10-Apr-02 09-Apr-02 22-Apr-02 02-Apr-02 20-Apr-02 22-Apr-02 02-Apr-02 29-Apr-02 06-Apr-02 03-Apr-02 28-Apr-02 29-Apr-02 04-Apr-02 20-Apr-02 08-Apr-02 8 30 16 15 28 4 23 4 14 25 3 27 20 11 16 11 30 22 8 4 5 1 2 1 2 4 1 1 1 2 3 3 1 3 1 2 3 4 product_ no 2 2 2 2 2 2 2 2 2 2 2 2 6 1 6 12 2 11 11 quantity rate inv_ value net_ price 192 190 190 186 185 178 175 174 174 174 169 163 183 198 177 183 155 200 191 100 100 100 100 100 100 100 100 100 100 100 100 89 80 89 85 100 77 77 19200 19000 19000 18600 18500 17800 17500 17400 17400 17400 16900 16300 16287 15840 15753 15555 15500 15400 14707 100 100 100 100 100 100 100 100 100 100 100 100 89 80 89 85 100 77 77

Filters can be applied to a list so as to extract specific data. There are two types of filters. These are: Auto filter Advanced filters Filters are very easy to set up and use. Once the cursor is within the data area, click Data Filter AutoFilter. Excel will immediately sense the boundary of the data list and in the first row which is the header row applies the filter button. Click on the button to view the list of unique items in the column. If you select any item from the list, the data list will be displayed showing only the selected item. The filtered column will also be indicated separately. The filter button will be shown in blue colour. Multiple columns can be filtered by using the same approach. One of the features of the filters is that the subtotal function can be used effectively with that. After filtering a column move to the end of the column and click on the standard toolbar. A subtotal function will be inserted selecting all the values in the column including the hidden rows. However the total will be only for the displayed values. If you employ different criteria for listing the column, which results in different set of records, the sub total function will display the appropriate total for the selected rows. It will be interesting to note that if you move to the end of a column containing values continuously without applying filter and click the function inserted will be sum and not subtotal

Options available
Filter gives the following options: Display top 10 You can choose to display the top n number of items. This is applicable to numeric columns. Even though the menu says Display top 10, you can display top 5 or bottom 20 values. Click the filter and select top 10 values. A dialogue box will be displayed through which you can choose to view Top or Bottom values and the number of items to be viewed. ERODE Branch of SIRC of ICAI

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Custom This option allows you to view the values based on certain criteria. You can set a range of values to be included.

Filter conditions applied Year = 2003; Invoice date <= 07-Apr-2002; Customer no >=25

Advanced filters
Advanced filters are required where the filtering criterion becomes complex and it is not possible for the Auto Filter to handle the requirements. Click Data Filter Advanced Filter and Excel display a dialogue asking you to fill in the following: List range Excel would have pre-selected the data list. If the data list shown is not correct, define the data list Criteria range Enter the column captions in a separate area of the worksheet. Specify the values based on which you wish to filter below the columns. The values mentioned in the same row will be used as logical AND and the values mentioned in different rows will be used as logical OR

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Advanced Filter also gives an option to filter the values either in place or in a separate area in the worksheet. Example of advanced filter
inv_ no year_ no 1 2004 Filter condition inv_ date customer_ no line_ no product_ no quantity rate inv_ value net_ price 02-Apr-03

inv_ no year_ no 1 2004 1 2004 1 2004 7 2004 7 2004 7 2004 8 2004 8 2004 8 2004 8 2004 9 2004 9 2004 9 2004 9 2004 9 2004 10 2004 10 2004 10 2004 11 2004 11 2004 11 2004 11 2004

Filter result inv_ date customer_ no line_ no product_ no quantity rate inv_ value net_ price 01-Apr-03 6 1 4.00 174 84 14616 71 01-Apr-03 6 2 6.00 117 100 11700 92 01-Apr-03 6 3 15.00 55 26 1430 23 02-Apr-03 29 1 11.00 3 83 249 79 02-Apr-03 29 3 14.00 106 40 4240 36 02-Apr-03 29 2 13.00 219 31 6789 30 02-Apr-03 5 1 7.00 90 16 1440 14 02-Apr-03 5 2 8.00 128 37 4736 36 02-Apr-03 5 3 10.00 71 57 4047 48 02-Apr-03 5 4 12.00 51 105 5355 96 02-Apr-03 27 1 2.00 4 101 404 93 02-Apr-03 27 5 13.00 230 31 7130 30 02-Apr-03 27 4 12.00 79 105 8295 96 02-Apr-03 27 2 3.00 206 14 2884 13 02-Apr-03 27 3 4.00 158 84 13272 71 02-Apr-03 2 1 1.00 2 87 174 86 02-Apr-03 2 2 10.00 173 57 9861 48 02-Apr-03 2 3 12.00 170 105 17850 96 02-Apr-03 24 2 6.00 178 105 18690 92 02-Apr-03 24 1 2.00 219 101 22119 93 02-Apr-03 24 4 9.00 114 34 3876 29 02-Apr-03 24 3 8.00 206 37 7622 36

Pivot Table
Pivot table is a very powerful data analysis facility and has got great dynamic capabilities. The features of the pivot table report are described below: Setting up a Pivot Table Keep the cursor within the data list and click Data Pivot table report. Excel display the Pivot table wizard which will guide you through the steps in defining a Pivot table report Step 1 of 3 The data source is decided at this stage. The data list can be any of the following: Excel list External data base Multiple Excel lists Another pivot tale report Excel would have selected the Excel list as default but this can be changed ERODE Branch of SIRC of ICAI

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Step 2 of 3 Select the data area here. Excel will display the current data list as the default area. Step 3 of 3 This displays the options to choose the location where the Pivot table will be drawn. Also gives the option to design the layout of the pivot table. Click Layout to proceed with the design. Alternatively click Finish to complete the report which displays a dummy report with outlines which could be customised. Managing a Pivot table A Pivot table has basically four aspects. Data, which is summarized, is at the centre of the Pivot Table. Drag the columns, which required to be summarized and drop them in the data area. Besides sum other aggregate functions like count, average etc. The data is analyzed through fields, which contain the record parameters. Multiple fields can be used in which case the summary is made available for each of these fields. The way this information is viewed can be through placing a field in a Row and another in a Column. It is also possible to keep more than one field as a Row or as a Column. The fourth aspect is the Page. The Row/Column summary is viewed for each item in a third field when this item is defined as a Page. When you are in the wizard screen of the Pivot table, the list of available fields will be listed in the right. The Pivot Table will also show a layout showing placeholders for Data, Row, Column and Page fields. Drab the fields for which you want construct a summary in to the data area. In the worksheet attached these columns will be Salary, Bonus, Commission and Gross. Drag the fields based on which you wish to analyze and drop them on to Row, Column or Page areas. If you wish to change the Row, Column or Page fields simply click and drag the fields to the required area. This can be done from within the Pivot table report itself. As you click the field and drag it, the layout location currently associated with it will be shown in the mouse tip. As you drag it in to new location say from Column to field, the mouse tip will change to indicate that the orientation has changed. Example of a Pivot table

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year_no 2004

Sum of inv_value product_no customer_no 1 1 31146 2 21228 3 15051 4 10560 5 7134 6 7 8 13659 9 10 20184 11 12 14 15 17487 16 17 9831 18 19 20 Grand Total 146280

2 24846 11716 19800

2674 238 2478 2170 1036 2604 1022 1904

9494 12221 22321 30502 11918 909

4 16380 4452 19488 12936 12348 34776 1344

30828 8568 7392 4368 9996 6048 1176

504 3486

10403 154130



5 Grand Total 6825 54351 4165 54691 4585 53514 3010 46544 21960 12390 47166 700 13708 8085 22780 3360 18185 74355 8568 4725 44523 4368 1435 40836 6230 6230 1925 19217 3486 1176 10403 57435 546061

Chart showing sum of invoice value for customer/product combination for year 2004 Sum of inv_value year_no customer_no 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Grand Total 2003 42170 10710 48362 40694 12998 16845 20730 61749 2475 1530 65299 10560 300 23553 19990 38180 34196 13520 7510 10535 481906 2004 Grand Total 54351 96521 54691 65401 53514 101876 46544 87238 21960 34958 47166 64011 13708 34438 22780 84529 18185 20660 74355 75885 8568 73867 44523 55083 300 4368 27921 40836 60826 6230 44410 19217 53413 3486 17006 1176 8686 10403 20938 546061 1027967

Chart showing invoice value for customer 1 to 20 for years 2003 & 2004

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Formatting Excel also offers option to choose from multiple pre-set format styles. Choose Format>AutoFormat and apply a format. In order to format the cells first check the Preserve formatting Check box in Table options. The context sensitive menus are available on the right click once the cursor is within the pivot table area. Alternatively invoke the Pivot table toolbar. Select a cell amongst the group of cells to be formatted and on right click select Field setting to display the Pivot Table Field dialog. Click Number and specify the format option. This will ensure that the format is retained even when the pivot table is redrawn when rows/column fields are changed. If the format is done by choosing the Format from the menu, then if the table is redrawn, all previous formatting will be lost. Grouping The information in a Pivot Table is presented as a summary. Typically the table lists information for each item in a field. It is possible to create groups out of these items. Some of these items can be consolidated in to a group. This technique is relevant where data fields are involved. Let us say that a date field is used as a row. The Pivot table will list the date grouped under each date found in the list. But we may want to summaries the data based on months. In such case it is easy to view the month summary by creating a group for the date field. The grouped fields then in turn can be used as if these are regular fields Hide fields In a column or row, each unique data item of the fields will be listed and the data area will contain the summarized information for these items. It is possible to temporarily remove some items from view. To hide an item from view when you are within the Pivot table choose the row or column header. Excel will respond by selecting the row or column labels. Move the cursor within the area and use right click to display the menu. From the menu choose Field. Excel will display the Pivot table Field dialogue. Click the fields to be hidden and click OK. To display the hidden field, use the same approach to list the dialogue and click the field market as hidden to display it. Calculated field and items Calculated field Through calculated fields, we can introduce additional calculations based on existing data fields. Data fields are those on which the aggregate functions are performed. For example the data list contains information on Gross salary for an employee but not the eligible amount of loan. If we wanted to look at possible loan amounts, which are related to the gross salary, then this can be defined as a formula. Once you are within the Pivot table click the Pivot table drop down in the Pivot table tool bar and from the menu select Formula Calculated field. A dialogue will be displayed. In the name field enter the name for new field; in the formula field enter the formula. If you wish the formula to refer to data fields, drag the fields in to formula bar and set the appropriate equation. After you click OK, Pivot Table will introduce a new calculated field. Calculated item Through Calculated items you can define additional data groups. If the calculated fields primarily work on the data items, which are used in aggregation, the calculated items work on the fields, which are used to analyze, and in another words fields containing parameters for ERODE Branch of SIRC of ICAI

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU data. For e.g. if a company is trying to set up a new product line and expects the revenues be studied in relation to an existing product, then this can be done through a calculated item. Once you are within the Pivot table click the Pivot table drop down in the Pivot table tool bar and from the menu select Formula Calculated item and Excel will display a dialogue. In the Name field enter the name for the new item; in the formula fields enter the formula for the item. You will note that the field from which you called the menu is selected and the items belonging to that field are displayed in the item box. Only the items belonging to a single field can be used in the calculation at a time. Drag the fields and items in to the formula field and set the appropriate equation. Calculated fields and calculated items can be used in conjunction with each other. These can also be grouped. Data product_no year_no Sum of inv_value Sum of quantity Sum of Avg Rate 1 2003 178720 2234 80.0 2004 208050 2402 86.6 1 Total 386770 4636 83.4 2 2003 391400 3914 100.0 2004 293914 2912 100.9 2 Total 685314 6826 100.4 3 2003 24390 1626 15.0 2004 32998 2357 14.0 3 Total 57388 3983 14.4 4 2003 133330 1990 67.0 2004 260316 3111 83.7 4 Total 393646 5101 77.2 5 2003 59225 2369 25.0 2004 72625 2134 34.0 5 Total 131850 4503 29.3

Sum of Avg Rate is a calculated field by pivot table report.

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Sum of inv_value year_no customer_no 2003 16 113039 14 89164 8 135554 11 123511 19 70797 13 45481 17 80588 18 66715 4 92522 15 74548 20 77524 7 86473 6 36383 1 70453 9 12310 12 15124 10 16715 5 25059 2 53194 3 72025 Grand Total 1357179

2004 Variation 18461 -94578 6443 -82721 65099 -70455 54506 -69005 11870 -58927 -45481 44163 -36425 35380 -31335 66522 -26000 60512 -14036 69782 -7742 83767 -2706 87801 51418 122567 52114 71019 58709 82509 67385 124154 107439 136381 111322 167005 113811 190338 118313 1498279 141100

Variation is a Calculated item of pivot table which represents difference between two analysis fields 2004 and 2003.

External data
Click DataImport External Data and select New Database Query. Excel displays a wizard and guides you through the process of importing data. Import data Step1 Excel displays Choose Data Source dialog. This contains the drivers defined for data sources. There are two ways by which you can proceed. Choose a generic driver type based on the type of database you want to link to or create a specific driver. The following are the steps in creating a specific driver: Select New Data Source and click OK Step 2 In the next dialog give a name for the driver, choose the generic database driver for your type of data source and click Connect to specify the specific data source you want to link. This will define a new data source name. If you choose a generic driver you have to identify the data source every time you want to connect to the same data source. Defining a specific driver will always point to the particular data source you define. After you select the driver, the dialog displayed will depend upon the type of driver. If you had selected a generic driver, Excel will prompt you to choose the data source also. If you select the specific driver defined by you it will list all the tables in the data source.

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Step 3 Choose the tables and fields from the list. If you choose more than one table, if the relationship is defined between these tables Excel will automatically allow you to choose all the fields from both the tables. If you choose two or more table which does not have a common field amongst them Excel will ask you to specify the join condition in the database before proceeding with the selection. Step 4 Choose to apply filters and also specify a sort order. Excel will pull down the data from the data source. It will also maintain a dynamic link to the data. Refresh Select any cell within the data list. Right click gives a list of context sensitive menu. Choose refresh to refresh data Options On right click choose Data Range properties to brig up the dialog. Specify appropriate settings applicable. If you wish to enter some formulas on the data pulled in and wish to apply the same formula every time the link I refreshed check the Fill down formulas in columns adjacent to data.

The subtotal function drives automatic totalling based on the change in fields. Using these multi level subtotals can be quickly done. Click Data Subtotal and Excel displays a dialogue box. The information required by subtotal utility is as follows: Index column Select the column, which will be used as index. Subtotal will be made for each change in the column value. Function to be used Select the type of aggregate function to be used from the drop down list. Apply subtotal to Select the columns for which subtotal are required. Check the applicable columns. Option is also available to specify whether the subtotal should be below the data or above the data. To get a subtotal for multiple columns repeat the above step and choose the index column. Remember not to check the Replace the current subtotal option. Subtotal on Customer

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inv_ no year_ no inv_ date customer_ no line_ no 1 Total 2 Total 3 Total 4 Total 5 Total 6 Total 7 Total 8 Total 9 Total 10 Total product_ no quantity rate inv_ value net_ price 3449 3844 4139 2229 2817 2376 4080 3992 1607 2371 193020 220199 262363 159044 161440 124184 170240 200653 83329 140869

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Subtotal on Product within Customer
inv_ no year_ no inv_ date customer_ no line_ no product_ no quantity rate inv_ value net_ price 1 Total 2 Total 3 Total 4 Total 5 Total 6 Total 7 Total 8 Total 9 Total 10 Total 12 Total 13 Total 14 Total 1 Total 516 247 72 195 345 234 167 757 21 160 135 256 344 3449 43786 24700 1080 16380 10575 24570 2672 27611 714 9120 11475 7892 12445 193020

inv_ no year_ no 70 39 95 85 46 47 46 47 39 78 79 46 39 2003 2004 2004 2004 2003 2003 2003 2003 2004 2004 2004 2003 2004

inv_ date customer_ no line_ no 20-Apr-02 10-Apr-03 28-Apr-03 25-Apr-03 12-Apr-02 12-Apr-02 12-Apr-02 12-Apr-02 10-Apr-03 22-Apr-03 22-Apr-03 12-Apr-02 10-Apr-03 1 1 1 1 1 1 1 1 1 1 1 1 1 3 1 1 1

product_ no 1 1 1 1 1 Total 2 2 2 2 Total 3 3 Total 4 4 4 4 Total 5 5 5 Total

quantity rate inv_ value net_ price 158 80 227 87 97 87 34 87 516 103 100 73 100 71 100 247 72 15 72 78 84 70 84 47 84 195 150 25 195 35 345 12640 19749 8439 2958 43786 10300 7300 7100 24700 1080 1080 6552 5880 3948 16380 3750 6825 10575 80 86 86 86 100 100 100 15 71 71 71 25 32

3 2 2 1 2 1 1 1 3

Solver solves where multiple constrains have to be optimized. Typical example of where solver is used is in an optimization problem. The important issue while working with the solver is setting up the problem. Refer to the attached worksheet for the solver problem.

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Here the objective is to Maximize D13 i.e. profit from producing and selling six products viz. A to F Subject to the following constraints 1. Labour availability is restricted only to 4500 hours 2. Raw material availability is restricted to 1600 Kg 3. Demand maximum for individual products 4. Demand minimum for individual products Go to ToolsSolver. If solver is not available in the menu use Tools Addins to enable the feature. Step 1: Set Target cell as D13 since we want to maximize the profit.

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Step 2: By Changing cells: D2:I2 since the requirement is to find the number of optimum products to be produced for sales.

Step 3: Subject to constraints

Clicks add to add the constraints one by one. Our first constraint labour is added here below:

The second constraint material is added below:

Our third constraint maximum products and minimum products are also added similarly. For example:

After entering constraints the Solver parameter dialog box will show like this: ERODE Branch of SIRC of ICAI

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Click options to select the non-negative constraints for the product quantities. Check the box Assume Linear Model and Assume non-negative.

The completely solved solution will show like this.

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Scenario Analysis:
The following example will demonstrate three scenarios for

Click ToolsScenarios

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Click Add to add three scenarios namely Optimistic, Most Likely and Pessimistic

For optimistic the units will be 25000 units, for most likely let it be 17500 units and pessimistic be 10000 units

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Click summary to see the scenarios in summary format.

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU NPER This function returns the number of periods for an investment with a constant cash flow and interest rate given a present and future value. Make sure that the rate corresponds to the number of payment periods. For a monthly payment period remember to divide an annual interest rate by 12 (months) to get a monthly interest rate. Enter cash paid out as negative values, and any cash received as positive values. Example =NPER(.08/12,-100,2000) = 21.54. At Rs:100.00 per month it takes 21.54 months to repay Rs:2,000.00 at 8% interest. =NPER(.08/12,-100 0,2000) = 18.84. At Rs:100.00 per month in an 8% interest account, it takes 18.84 months to save Rs:2,000.00.

This function returns the future value of an investment based on constant periodic payments and a constant interest rate. Make sure that the rate corresponds to the number of payment periods. For a monthly payment period remember to divide an annual interest rate by 12 (months) to get a monthly interest rate. Enter cash paid out as negative values, and any cash received as positive values. Example =FV(.10/12,5*12,-100) = Rs:7,743.71. You save Rs:7,743.71 after 5 years depositing Rs:100 a month with no initial deposit and a 10% interest rate.

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Excel offers different type of protection. They are: Protect cells, Protect sheet, and Protect work book. Each of these protection functionalities works in conjunction with the other. Let us review these. Cell protection By default all the cells are locked. But the locking of the cell has no effect unless the sheet is protected. Similar to locking the cell formulas can also be hidden. In Format cells click Protection and check the Locked and Hidden check boxes. Protect sheet Click ToolsProtection and Protect sheet. The protect sheet dialog displays a number of options. Check the required options and click OK to protect the worksheet. Once the sheet is protected the locked cells cannot be edited. Before calling up the protection first select the cell of data entry and using format cell remove locking. Only values of these cells can be modified. Protect workbook Choose the kind of protection required. The options available are structure and widows. The structure protection will prevent the user from inserting or deleting the sheets. The windows option will cause the worksheet position in the screen to be locked at the same position. Allow users to edit a range This is a new facility in XP. Define a range of cells which will be editable when the worksheet is protected.

Workbook Sharing in Microsoft Excel

First, if you are sharing a workbook, you may want to consider moving to an Access database, which is more suited to sharing. Did you know that multiple users can edit the same workbook at the same time? This is especially useful in a typical office environment, where files are shared over a network. To share your workbook: ERODE Branch of SIRC of ICAI

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU 1. 2. 3. Open the workbook, go to the Tools menu and choose Share Workbook. On the Editing tab, select Allow changes by more than one user at the same time. On the Advanced tab, select the Automatically every ___ option, and then click OK.

When you save the workbook, the workbook is now shared with others, and changes to the workbook are updated every 15 minutes by default. The other users then can open the file and work on. After a second user adds some data and saves the file, the changes will be visible in the file where the shared file is saved. The owner of the file will have the option to accept or reject changes by calling up Accept or Reject changes within Track changes in Tools menu. Warning: There are some limitations to this feature! Unavailable feature Delete worksheets Merge cells or split merged cells Add or change conditional formats Alternatives None None Existing conditional formats continue to appear as cell values change, but you can't change these formats or redefine the conditions.

Insert or delete blocks of cells You can insert entire rows and columns.

Add or change data validation Cells continue to be validated when you type new values, but you can't change existing data validation settings. Create or change charts or PivotChart reports Insert or change pictures or other objects Insert or change hyperlinks Use drawing tools Assign, change, or remove passwords Protect or unprotect worksheets or the workbook Create, change, or view scenarios Group or outline data Insert automatic subtotals Create data tables Create or change PivotTable reports Write, record, change, view, or assign macros Add or change Microsoft Excel 4 dialog sheets Change or delete array formulas You can view existing charts and reports. You can view existing pictures and objects. Existing hyperlinks continue to work. You can view existing drawings and graphics. Existing passwords remain in effect. Existing protection remains in effect. None You can continue to use existing outlines. You can view existing subtotals. You can view existing data tables. You can view existing reports. You can run existing macros that don't access unavailable features. You can record shared workbook operations into a macro stored in another non-shared workbook. None Existing array formulas continue to calculate correctly.

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Best Tips for using MS Excel

Tip 1: The Fill Handle There are still many people either copying one cell at a time and pasting, or clicking and dragging down to copy formulas all the way down a column. Lets Stop that!! Double-click the fill handle to automatically fill down when your formula resides aside of other data. It'll stop when there's no data alongside any more. The Fill Handle is that little blob that appears in the bottom-right of any selected cell, as shown in the left-hand figure below. When you place your cursor over it, it changes from a fat plus sign to a skinny plus sign, as shown in the figure on the right, below.

Tip 2: Data Text to Columns Suppose you have names in column A as shown in the figure below, but you want to do a mail merge, and address people as Mr. Smith? How do you get Smith to be separated from his first name? Use the DataText to Columns feature. Select column A and choose DataText to Columns from the menu.

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For our demonstration purposes, we'll choose Delimited as the option in the Text to Columns wizard, then we'll choose Commas and Spaces as our delimiters, as shown below.

We hit Finish, and our data is now separated, as shown.

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Tip 3: Quick Data Entry You can quickly enter the same value into a bunch of cells all at once by selecting them, typing the value or text, and hit Ctrl+Enter Tip 4: F4 Key This is a shortcut key that I use all the time in Excel and Word. Suppose you just unlocked a cell, and you have to unlock 20 others, and they're scattered all over your worksheet. Well, you can select all those cells while holding the Ctrl key down, or you can select smaller groupswhich are much easier to manageand hit the F4 key. F4 repeats the last command. You could use it for filling cells with color, formatting cells the same way as the last one your formatted, etc.

MS Excel: Short Cut Keys (Hot Keys)

Hot Keys Ctrl+A Ctrl+B Ctrl+C Ctrl+D Ctrl+F Ctrl+G Ctrl+H Ctrl+I Ctrl+K Ctrl+N Ctrl+O Ctrl+P Ctrl+R Ctrl+S Function Select All Bold Copy Fill Down Find Goto Replace Italic Insert Hyperlink New Workbook Open Print Fill Right Save Alternative Function None Format, Cells, Font, Font Style, Bold Edit, Copy Edit, Fill, Down Edit, Find Edit, Goto Edit, Replace Format, Cells, Font, Font Style, Italic Insert, Hyperlink File, New File, Open File, Print Edit, Fill Right File, Save

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Ctrl+U Ctrl+V Ctrl W Ctrl+X Ctrl+Y Ctrl+Z F1 F2 F3 F4 F4 F5 F6 F7 F8 F9 F10 F11 F12 Ctrl+: Ctrl+; Ctrl+" Ctrl+ Shift Shift+F1 Shift+F2 Shift+F3 Shift+F4 Shift+F5 Shift+F6 Shift+F8 Shift+F9 Shift+F10 Shift+F11 Shift+F12 Ctrl+F3 Ctrl+F4 Ctrl+F5 Ctrl+F6 Shift+Ctrl+ F6 Underline Paste Close Cut Repeat Undo Help Edit Paste Name Repeat last action While typing a formula, switch between absolute/relative refs Goto Next Pane Spell check Extend mode Recalculate all workbooks Activate Menubar New Chart Save As Insert Current Time Insert Current Date Copy Value from Cell Above Copy Fromula from Cell Above Hold down shift for additional functions in Excels menu Whats This? Edit cell comment Paste function into formula Find Next Find Previous Pane Add to selection Calculate active worksheet Display shortcut menu New worksheet Save Define name Close XL, Restore window size Next workbook window Previous workbook window Format, Cells, Font, Underline, Single Edit, Paste File, Close Edit, Cut Edit, Repeat Edit, Undo Help, Contents and Index None Insert, Name, Paste Edit, Repeat. Works while not in Edit mode. None Edit, Goto None Tools, Spelling None Tools, Options, Calculation, Calc,Now N/A Insert, Chart File, Save As None None Edit, Paste Special, Value Edit, Copy none Help, Whats This? Insert, Edit Comments Insert, Function Edit, Find, Find Next Edit, Find, Find Next None None Calc Sheet None Insert, Worksheet File, Save Insert, Names, Define File, Close Restore Window, ... Window, ...

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Ctrl+F7 Ctrl+F8 Ctrl+F9 Ctrl+F10 Ctrl+F11 Move window Resize window Minimize workbook Maximize or restore window Inset 4.0 Macro sheet XL, Move XL, Size XL, Minimize XL, Maximize None in Excel 97. In versions prior to 97 - Insert, Macro, 4.0 Macro File, Open Insert, Chart... File, Save As File, Exit Tools, Macro, Macros in Excel 97 Tools, Macros - in earlier versions Tools, Macro, Visual Basic Editor Insert, Name, Create Window, ... File, Print Insert, Worksheet File, Save No direct equivalent Tools, Options, View, Formulas No direct equivalent None Format, Style Format, Cells, Number, Category, General Format, Cells, Number, Category, Number Format, Cells, Number, Category, Time Format, Cells, Number, Category, Date Format, Cells, Number, Category, Currency Format, Cells, Number, Category, Percentage Format, Cells, Number, Category,

Ctrl+F12 Alt+F1 Alt+F2 Alt+F4 Alt+F8 Alt+F11 Ctrl+Shift+ F3 Ctrl+Shift+ F6 Ctrl+Shift+ F12

File Open Insert Chart Save As Exit Macro dialog box Visual Basic Editor Create name by using names of row and column labels Previous Window Print

Alt+Shift+F New worksheet 1 Alt+Shift+F Save 2 Alt+= Ctrl+` Ctrl+Shift+ A Alt+Down arrow Alt+ Ctrl+Shift+ ~ AutoSum Toggle Value/Formula display Insert argument names into formula Display AutoComplete list Format Style dialog box General format

Ctrl+Shift+! Comma format Ctrl+Shift+ @ Ctrl+Shift+ # Ctrl+Shift+ $ Ctrl+Shift+ % Ctrl+Shift+ ^ Ctrl+Shift+ & Ctrl+Shift+ _ Time format Date format Currency format Percent format Exponential format

Place outline border around selected Format, Cells, Border cells Remove outline border Format, Cells, Border

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU Ctrl+Shift+ * Ctrl++ Ctrl+Ctrl+1 Ctrl+2 Ctrl+3 Ctrl+4 Ctrl+5 Ctrl+6 Ctrl+7 Ctrl+8 Ctrl+9 Ctrl+0 Select current region Insert Delete Format cells dialog box Bold Italic Underline Strikethrough Show/Hide objects Show/Hide Standard toolbar Toggle Outline symbols Hide rows Hide columns Edit, Goto, Special, Current Region Insert, (Rows, Columns, or Cells) Depends on selection Delete, (Rows, Columns, or Cells) Depends on selection Format, Cells Format, Cells, Font, Font Style, Bold Format, Cells, Font, Font Style, Italic Format, Cells, Font, Font Style, Underline Format, Cells, Font, Effects, Strikethrough Tools, Options, View, Objects, Show All/Hide View, Toolbars, Stardard None Format, Row, Hide Format, Column, Hide Format, Row, Unhide Format, Column, Unhide None None None None None None None None Format, Cells, Font Format, Cells, Font Format, Cells, Font

Ctrl+Shift+( Unhide rows Ctrl+Shift+) Unhide columns Alt or F10 Ctrl+Tab Shift+Ctrl+ Tab Ctrl+Tab Shift+Ctrl+ Tab Tab Shift+Tab Enter Shift+Ctrl+ F Shift+Ctrl+ F+F Shift+Ctrl+ P Activate the menu In toolbar: next toolbar In toolbar: previous toolbar In a workbook: activate next workbook In a workbook: activate previous workbook Next tool Previous tool Do the command Font Drop Down List Font tab of Format Cell Dialog box Point size Drop Down List

Most Common Mistakes in MS Excel

Data Layout Always lay out your data with headings in row 1 and your first data record in row 2. There are very few exceptions to this rule. If you are creating a spreadsheet you intend to use for years, or you intend to depend upon, you must lay it out this way, or you'll soon be pulling your hair out. If you must have ERODE Branch of SIRC of ICAI

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU addresses listed vertically on a page, then use a mail merge to create that layout and print it. This makes it much easier to sort your data. Data is Text Getting data as text and not realizing it, then wondering why your values don't add up right. Copy any blank cell, then select the "bad" values. Hit Edit Paste Special, Add. This forces Excel to see the data as numeric values, though you'll likely have to reformat your cells if it was a date. Cell Formatting Used to Round Values If you are using cell formatting to "round" your data, don't expect the cells that sum them to be exactly correct. As shown in the graphic below, the actual values are in column A. In column B, we show them formatted not to show decimals. We know that 14 + 15 + 13 = 42, but when we use cell formatting, it shows 41. If you want to round your values, and have them show correctly in both column B and in its sum, use the round formula to display your values, instead of using cell formatting.

Circular References Circular references are a common problem. The most likely person to be able to resolve these issues is the person who created the spreadsheet. Trying to get an expert to resolve a circular reference issue, no matter how good the expert, usually requires that the expert understand all the data. Some circular references are intentional. Some people believe that it is a terrible practice to use intentional circular references; others swear its the only way for some purposes. Working with Names While these aren't mistakes, they're good practices to follow to avoid trouble. When naming workbooks and worksheets; even when naming ranges: Keep the names short. If you're using formulas, the formulas can become unnecessarily long because it has to support that long name you gave it. The formulas become much more difficult to read that way. Don't put spaces in your names. Use MySheet or my_sheet instead of My Sheet. Formulas that refer to sheets and workbooks with spaces in their names now require that the name of the workbook or worksheet be enclosed in single quotes. This makes your formulas harder to write, and longer, which makes them more difficult to read.

Debits (Limitations) of MS Excel as audit software:

Although Microsoft Excel has many powerful features and can take on many of the features of audit software, it has its own set of limitations that are presented below:

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ADVANCED EXCEL for Chartered Accountants CA. GOPAL KRISHNA RAJU 1. Can only process 65,536 (2003 version)/ 1048,576 (2007 version) rows or records of data which may be too small for most organizational databases. Please note however that many report writers (which can handle larger data sets) can define a smaller subset of data for further processing in Excel such as a particular companys division. 2. Does not document the auditors work in easy to access logs for later reference and work-paper storage 3. 4. Allows data to be changed in the spreadsheet Can only read a small subset of the complete types of data files available in digital format. For example, EBCIDIC files stored in IBM mainframes would need to be converted for use in Excel. 5. Has difficulty in performing data management tests such as relating tables. Although it can be accomplished, it is an onerous task. 6. Does not have functionality specifically tailored to the auditor. For example, a sample can be calculated in just a couple of clicks with minimal training in a specifically designed audit software. In Excel, it can be done, but it does take some effort and guidance. 7. Does not easily apply routines from one data file to other data files whereas audit software can more easily batch audit routines for later use on the same file or different data files.

Kindly send your comments, queries and reflections to: CA. GOPAL KRISHNA RAJU

Member - SIRC of ICAI - 2010-2013 Chairman of Information Technology Committee of SIRC of ICAI & Committee on Banking, Insurance & Pension
Partner: M/s. K. Gopal Rao & Company Chartered Accountants 2, South Dhandapani Street, PL.A Towers, Ground Floor, T.Nagar, Chennai - 600 017 Mobile: 98400 63269: Phone: 4212 9770 / 2434 2563 / 2434 3639 / 4212 8955

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