2010 Excel Functions Macros and Data Commands Manual As of March 2010

MicrosoftExcel
Functions,Macros&
DataCommands
J.CarltonCollins,CPA
ASAResearch
Atlanta,Georgia
770.734.0950
Carlton@ASAResearch.com
ASA Resear ch
ExcelFunctions,Macros&DataCommands
www.CarltonCollins.com Page2 CopyrightMay2010
TableofContents
Chapter1ExcelFunctions..........................................................................4
Chapter2TheIfFunction.........................................................................18
Chapter3UsingFunctionstoClean&CrunchData.................................23
Chapter4DataCommands......................................................................41
Chapter5Macros.....................................................................................76
Chapter6Miscellaneous.........................................................................81
Chapter7XMLData.................................................................................84
Chapter8QuickTips................................................................................92
Chapter9WhatsNewinExcel2007.......................................................95
Chapter10WhatsnewinExcel2010....................................................104
AppendixInstructorsBiography............................................................108
CourseInformation
LearningObjectives ToincreasetheproductivityofaccountantsandCPAs
usingExcelsfunctions,macros,&datacommands
CourseLevel Intermediate
PreRequisites GoodFamiliaritywithMicrosoftExcel
AdvancedPreparation None
PresentationMethod Livelectureusingfullcolorprojectionsystemsand
liveInternetaccesswithfollowupcoursematerials
RecommendedCPECredit 8hours
Handouts Templates,checklists,webexamples,manual
Instructors J.CarltonCollins,CPA
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CopyrightMay2010,AdvisorCPEandAccountingSoftwareAdvisor,LLC
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ContactInformation:
J.CarltonCollins
carlton@asaresearch.com
Chapter1
ExcelFunctions

IntroductiontoExcelFunctions
Excel Functions are preprogrammed formulas that make the task of writing complex formulas
easier. There are a total of 333 functions in Excel. These functions are separated into 11
categoriesasfollows:
Categories&NumberOfFunctionsInEachCategory
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)
Relevance to CPAs Some Excel functions are more powerful than others and some are more
relevant to the CPA than others. For example, most CPAs will find the IF, SUM, COUNT,
SUBTOTAL, TEXT, and VLOOKUP are very relevant to the CPA while other engineering and
trigonometry functions such as LOG, PI, RADIENS, DELTA, TAN, COMPLEX, and HAX2DEC are
typically less relevant to CPAs. It has been my experience that the following 75 functions are
mostrelevanttotheCPA;thereforeinmyopinion,CPAswishingtoincreasetheircommandof
Excelfunctionsshouldconcentrateonthesefunctionsfirst.
CarltonsListofTheTop75FunctionsMostRelevanttoCPAs
(SortedByCarltonsOpinionofUsefulness)
OpenanExcelfileContainingFunctionExamples:
http://www.ASAResearch.com/web/functions.xlsx
1. IFSpecifiesalogicaltesttoperform
2. SUMAddsitsarguments
3. SUBTOTALReturnsasubtotalinalistordatabase
4. SUMIFAddsthecellsspecifiedbyagivencriteria
5. COUNTCountshowmanynumbersareinthelistofarguments
6. COUNTACountshowmanyvaluesareinthelistofarguments
7. AVERAGEReturnstheaverageofarangeofnumbers
8. COUNTBLANKCountsthenumberofblankcellswithinarange
9. COUNTIFCountsthenumberofnonblankcellswithinarangethatmeetthegivencriteria
10. VALUEConvertstexttoanumber
11. TEXTFormatsanumberandconvertsittotext
12. VLOOKUPLooksinthefirstcolumnofanarrayandmovesacrosstherowtoreturnthevalueof
acell
13. HLOOKUPLooksinthetoprowofanarrayandreturnsthevalueoftheindicatedcell
14. TWOWAYLOOKUPUsingbothVLOOKUPandHLOOKUPtogether
15. LOOKUPLooksupvaluesinavectororarray
16. MATCHLooksupvaluesinareferenceorarray
17. TRIMRemovesspacesfromtext
18. PROPERCapitalizesthefirstletterineachwordofatextvalue
19. LOWERConvertstexttolowercase
20. UPPERConvertstexttouppercase
21. LEFTReturnstheleftmostcharactersfromatextvalue
22. RIGHTReturnstherightmostcharactersfromatextvalue
23. MID Returns a specific number of characters from a text string starting at the position you
specify
24. FINDFindsonetextvaluewithinanother(casesensitive)
25. SUBSTITUTESubstitutesnewtextforoldtextinatextstring
26. LENReturnsthenumberofcharactersinatextstring
27. REPLACEReplacestextinastringwithalternativetext
28. CONCATENATEJoinsseveraltextitemsintoonetextitem
29. CLEANRemovesallnonprintablecharactersfromtext
30. NOWReturnstheserialnumberofthecurrentdateandtime
31. TODAYReturnstheserialnumberoftoday'sdate
32. DATEReturnstheserialnumberofaparticulardate
33. MONTHConvertsaserialnumbertoamonth
34. DAYConvertsaserialnumbertoadayofthemonth
35. YEARConvertsaserialnumbertoayear
36. WEEKDAYConvertsaserialnumbertoadayoftheweek
37. ROUNDRoundsanumbertoaspecifiednumberofdigits
38. ROUNDDOWNRoundsanumberdown,towardzero
39. ROUNDUPRoundsanumberup,awayfromzero
40. MAXReturnsthemaximumvalueinalistofarguments
41. DMAXReturnsthemaximumvaluefromatablearraybasedonalistofarguments
42. MINReturnstheminimumvalueinalistofarguments
43. DMINReturnstheminimumvaluefromatablearraybasedonalistofarguments
44. MEDIANReturnsthemedianofthegivennumbers
45. MODEReturnsthemostcommonvalueinadataset
46. PERCENTILEReturnsthekthpercentileofvaluesinarange
47. PERCENTRANKReturnsthepercentagerankofavalueinadataset
48. PMTReturnstheperiodicpaymentforanannuity
49. NPV Returns the net present value of an investment based on a series of periodic cash flows
andadiscountrate
50. DSUMAddsthenumbersinthefieldcolumnofrecordsinthedatabasethatmatchthecriteria
51. DCOUNTCountsthecellsthatcontainnumbersinadatabase
52. DCOUNTACountsnonblankcellsinadatabase
53. ANDReturnsTRUEifallofitsargumentsareTRUE
54. ORReturnsTRUEifanyargumentisTRUE
55. CHOOSEChoosesavaluefromalistofvalues
56. TIMEReturnstheserialnumberofaparticulartime
57. FVReturnsthefuturevalueofaninvestment
58. IRRReturnstheinternalrateofreturnforaseriesofcashflows
59. YIELDReturnstheyieldonasecuritythatpaysperiodicinterest
60. CELLReturnsinformationabouttheformatting,location,orcontentsofacell
61. INFOReturnsinformationaboutthecurrentoperatingenvironment
62. ERROR.TYPEReturnsanumbercorrespondingtoanerrortype
63. ISBLANKReturnsTRUEifthevalueisblank
64. ISNAReturnsTRUEifthevalueisthe#N/Aerrorvalue
65. GETPIVOTDATAReturnsdatastoredinaPivotTable
66. HYPERLINKCreatesashortcutorjumpthatopensadocumentstoredonanetworkserver,an
intranet,ortheInternet
67. TRANSPOSEReturnsthetransposeofanarray
68. ABSReturnstheabsolutevalueofanumber
69. RANDReturnsarandomnumberbetween0and1
70. RANDBETWEENReturnsarandomnumberbetweenthenumbersyouspecify
71. REPTRepeatstextagivennumberoftimes
72. SLNReturnsthestraightlinedepreciationofanassetforoneperiod
73. SYDReturnsthesumofyears'digitsdepreciationofanassetforaspecifiedperiod
74. DDBReturnsthedoubledecliningbalancedepreciationofanassetforaspecifiedperiod
75. DGETExtractsfromadatabaseasinglerecordthatmatchesthespecifiedcriteria
'J.CarltonCollins,CPACopyright,January2007,carlton@asaresearch.com
All333ExcelFunctions
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 Multipliesthevaluesinaparticularfieldofrecordsthatmatchthecriteriain
adatabase
8 DSTDEV Estimatesthestandarddeviationbasedonasampleofselecteddatabase
entries
9 DSTDEVP Calculatesthestandarddeviationbasedontheentirepopulationofselected
databaseentries
10 DSUM Addsthenumbersinthefieldcolumnofrecordsinthedatabasethatmatch
thecriteria
11 DVAR Estimatesvariancebasedonasamplefromselecteddatabaseentries
12 DVARP Calculatesvariancebasedontheentirepopulationofselecteddatabase
entries

DateandTimeFunctions
13 DATE Returnstheserialnumberofaparticulardate
14 DATEVALUE Convertsadateintheformoftexttoaserialnumber
15 DAY Convertsaserialnumbertoadayofthemonth
16 DAYS360 Calculatesthenumberofdaysbetweentwodatesbasedona360dayyear
17 EDATE Returnstheserialnumberofthedatethatistheindicatednumberofmonths
beforeorafterthestartdate
18 EOMONTH Returnstheserialnumberofthelastdayofthemonthbeforeoraftera
specifiednumberofmonths
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 Convertsaserialnumbertoanumberrepresentingwheretheweekfalls
numericallywithayear
30 WORKDAY Returnstheserialnumberofthedatebeforeorafteraspecifiednumberof
workdays
31 YEAR Convertsaserialnumbertoayear
32 YEARFRAC Returnstheyearfractionrepresentingthenumberofwholedaysbetween
start_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 Returnsthedepreciationforeachaccountingperiodbyusingadepreciation
coefficient
75 AMORLINC Returnsthedepreciationforeachaccountingperiod
76 COUPDAYBS Returnsthenumberofdaysfromthebeginningofthecouponperiodtothe
settlementdate
77 COUPDAYS Returnsthenumberofdaysinthecouponperiodthatcontainsthe
settlementdate
78 COUPDAYSNC Returnsthenumberofdaysfromthesettlementdatetothenextcoupon
date
79 COUPNCD Returnsthenextcoupondateafterthesettlementdate
80 COUPNUM Returnsthenumberofcouponspayablebetweenthesettlementdateand
maturitydate
81 COUPPCD Returnsthepreviouscoupondatebeforethesettlementdate
82 CUMIPMT Returnsthecumulativeinterestpaidbetweentwoperiods
83 CUMPRINC Returnsthecumulativeprincipalpaidonaloanbetweentwoperiods
84 DB Returnsthedepreciationofanassetforaspecifiedperiodbyusingthefixed
decliningbalancemethod
85 DDB Returnsthedepreciationofanassetforaspecifiedperiodbyusingthe
doubledecliningbalancemethodorsomeothermethodthatyouspecify
86 DISC Returnsthediscountrateforasecurity
87 DOLLARDE Convertsadollarprice,expressedasafraction,intoadollarprice,expressed
asadecimalnumber
88 DOLLARFR Convertsadollarprice,expressedasadecimalnumber,intoadollarprice,
expressedasafraction
89 DURATION Returnstheannualdurationofasecuritywithperiodicinterestpayments
90 EFFECT Returnstheeffectiveannualinterestrate
91 FV Returnsthefuturevalueofaninvestment
92 FVSCHEDULE Returnsthefuturevalueofaninitialprincipalafterapplyingaseriesof
compoundinterestrates
93 INTRATE Returnstheinterestrateforafullyinvestedsecurity
94 IPMT Returnstheinterestpaymentforaninvestmentforagivenperiod
95 IRR Returnstheinternalrateofreturnforaseriesofcashflows
96 ISPMT Calculatestheinterestpaidduringaspecificperiodofaninvestment
97 MDURATION ReturnstheMacauleymodifieddurationforasecuritywithanassumedpar
valueof$100
98 MIRR Returnstheinternalrateofreturnwherepositiveandnegativecashflowsare
financedatdifferentrates
99 NOMINAL Returnstheannualnominalinterestrate
100 NPER Returnsthenumberofperiodsforaninvestment
101 NPV Returnsthenetpresentvalueofaninvestmentbasedonaseriesofperiodic
cashflowsandadiscountrate
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$100facevalueofasecuritythatpaysinterestat
maturity
111 PV Returnsthepresentvalueofaninvestment
112 RATE Returnstheinterestrateperperiodofanannuity
113 RECEIVED Returnstheamountreceivedatmaturityforafullyinvestedsecurity
114 SLN Returnsthestraightlinedepreciationofanassetforoneperiod
115 SYD Returnsthesumofyears'digitsdepreciationofanassetforaspecified
period
116 TBILLEQ ReturnsthebondequivalentyieldforaTreasurybill
117 TBILLPRICE Returnsthepriceper$100facevalueforaTreasurybill
118 TBILLYIELD ReturnstheyieldforaTreasurybill
119 VDB Returnsthedepreciationofanassetforaspecifiedorpartialperiodbyusing
adecliningbalancemethod
120 XIRR Returnstheinternalrateofreturnforascheduleofcashflowsthatisnot
necessarilyperiodic
121 XNPV Returnsthenetpresentvalueforascheduleofcashflowsthatisnot
necessarilyperiodic
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 Createsashortcutorjumpthatopensadocumentstoredonanetwork
server,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 RetrievesrealtimedatafromaprogramthatsupportsCOM
automation(Automation:Awaytoworkwithanapplication'sobjectsfrom
anotherapplicationordevelopmenttool.FormerlycalledOLEAutomation,
AutomationisanindustrystandardandafeatureoftheComponentObject
Model(COM).)
164 TRANSPOSE Returnsthetransposeofanarray
165 VLOOKUP Looksinthefirstcolumnofanarrayandmovesacrosstherowtoreturnthe
valueofacell

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 Roundsanumbertothenearestintegerortothenearestmultipleof
significance
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 Returnsthesumofthedifferenceofsquaresofcorrespondingvaluesintwo
arrays
220 SUMX2PY2 Returnsthesumofthesumofsquaresofcorrespondingvaluesintwoarrays
221 SUMXMY2 Returnsthesumofsquaresofdifferencesofcorrespondingvaluesintwo
arrays
222 TAN Returnsthetangentofanumber
223 TANH Returnsthehyperbolictangentofanumber
224 TRUNC Truncatesanumbertoaninteger

StatisticalFunctions
225 AVEDEV Returnstheaverageoftheabsolutedeviationsofdatapointsfromtheir
mean
226 AVERAGE Returnstheaverageofitsarguments
227 AVERAGEA Returnstheaverageofitsarguments,includingnumbers,text,andlogical
values
228 BETADIST ReturnsthebetacumulativedistributionFunction
229 BETAINV ReturnstheinverseofthecumulativedistributionFunctionforaspecified
betadistribution
230 BINOMDIST Returnstheindividualtermbinomialdistributionprobability
231 CHIDIST Returnstheonetailedprobabilityofthechisquareddistribution
232 CHIINV Returnstheinverseoftheonetailedprobabilityofthechisquared
distribution
233 CHITEST Returnsthetestforindependence
234 CONFIDENCE Returnstheconfidenceintervalforapopulationmean
235 CORREL Returnsthecorrelationcoefficientbetweentwodatasets
236 COUNT Countshowmanynumbersareinthelistofarguments
237 COUNTA Countshowmanyvaluesareinthelistofarguments

238 COUNTBLANK Countsthenumberofblankcellswithinarange
239 COUNTIF Countsthenumberofnonblankcellswithinarangethatmeetthegiven
criteria
240 COVAR Returnscovariance,theaverageoftheproductsofpaireddeviations
241 CRITBINOM Returnsthesmallestvalueforwhichthecumulativebinomialdistributionis
lessthanorequaltoacriterionvalue
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,and
logicalvalues
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,and
logicalvalues
291 STDEVP Calculatesstandarddeviationbasedontheentirepopulation
292 STDEVPA Calculatesstandarddeviationbasedontheentirepopulation,including
numbers,text,andlogicalvalues
293 STEYX Returnsthestandarderrorofthepredictedyvalueforeachxinthe
regression
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,andlogical
values
301 VARP Calculatesvariancebasedontheentirepopulation
302 VARPA Calculatesvariancebasedontheentirepopulation,includingnumbers,text,
andlogicalvalues
303 WEIBULL ReturnstheWeibulldistribution
304 ZTEST Returnstheonetailedprobabilityvalueofaztest

TextFunctions
305 ASC Changesfullwidth(doublebyte)Englishlettersorkatakanawithina
characterstringtohalfwidth(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)Englishlettersorkatakanawithinacharacter
stringtofullwidth(doublebyte)characters
316 LEFT,LEFTB Returnstheleftmostcharactersfromatextvalue
317 LEN,LENB Returnsthenumberofcharactersinatextstring
318 LOWER Convertstexttolowercase
319 MID,MIDB Returnsaspecificnumberofcharactersfromatextstringstartingatthe
positionyouspecify
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,convertsanumberfromeurostoaeuro
membercurrency,orconvertsanumberfromoneeuromembercurrencyto
anotherbyusingtheeuroasanintermediary(triangulation)
333 SQL.REQUEST Connectswithanexternaldatasourceandrunsaqueryfromaworksheet,
thenreturnstheresultasanarraywithouttheneedformacroprogramming

Chapter2
The=IFFunction

=IF
The IF function is the most 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 logical thinking into any program. This function is also
referredtoastheIfThenElsecommand,conditionalexpressions,orPropositionalLogic.
ThefollowingWikisexplainsthisconceptinmoredetail:
http://en.wikipedia.org/wiki/Conditional_(programming).
http://en.wikipedia.org/wiki/Logical_conditional#Conditional_statements
ThecleverCPAcanusetheIFFunctiontobuildelaborateExceltemplatesandfinancialmodels
containing an almost unlimited amount of sophisticated programming. Presented below are
severalexamplestohelpyoubetterunderstandtheapplicationofthispowerfultool.
SimpleIFTheIFfunctionreturnsonevalueifaconditionyouspecifyevaluatestoTRUE,and
anothervalueifthatconditionevaluatestoFALSE.Presentedbelowisasimpleexample:
SimpleIFwithCalculationPresentedbelowisanexamplethatisalittlemorecomplex:
SimpleIFLargerExamplePresentedbelowisyetanotherIFexampleonalittlelargerscale
this example shows how one might apply the IF function to evaluate budget versus actual
comparisons.
SimpleIFwithDropDownInthefollowingexample,theIFfunctionischeckingtoseeifthey
havesignedupforinsurance.Iftheyhave,thedeductionamountisentered.

Simple IF with Calculation The next IF function example is determining each employees
earnedvacationdays.Iftheyhaveworkedformorethanayear,theyhaveearned5vacation
daysplusonedayforeachadditionalfullyear.

NestedIFFunctionsInthissample,therearefourpossibilitiesforbonuses.
IFFunctionwithLogicalORArgumentTeamsAandCmeetonTuesday,TeamsBandDmeet
onThursday.WewanttolistthemeetingdaysincolumnD.

More Complex IF Function Example The following IF example shows a more complex
application in which the user selects a taxpayer status from a drop down list, which then
retrievesthecorrecttaxbase,threshold,andincrementaltaxratestobeusedincalculatingtax.
This example illustrates how a CPA might prepare an income statement template that
calculates the appropriate amount of taxes as net income and the taxpayer status changes.
Essentiallythetemplatecalculatesthecorrecttaxgivenallfourpossibletaxpayerstatuses,and
theIFstatementsareusedtoselectthecorrectanswersbasedonthetaxpayerstatusselected.
Keepinmindthatdespitethemanyaccoladesmentionedabove,theIFFunctionisnotalways
the best solution. For example, the VLOOKUP would be a better and easier function to use to
extract data from a list as shown in the nestedIF Function a few examples above. Many Excel
FunctionsalsoprovidebuiltinIFThenElsefunctionality.
KeyPointersforUsingtheIFFunction:
1. NestingYoucanembedupto8nestedIFfunctionsinasingleformulainExcel2003,andupto
64IFnestedfunctionsinExcel2007.
2. AND,ORYoucanusetheANDand/orORoperatortoaddmoreconditionstoanIFFunction.
3. Variations of IF Excel offers several variations of the IF function as follows: COUNTIF,
COUNTIFS,SUMIF,SUMIFS.
4. Evaluating an IF Error Since the IF statement provides only a true or false result, there is no
waytoevaluateanIFFunctiontoERROR.Ifyoureceiveanerror,youwrotetheformulawrong.
5. The Null Set The Double Quotes is the Null Set, or absence of a value. For example, when
testingforaZerobalanceortestingforablankcell,thefollowingIFfunctionswouldapply:
a. =IF(A1=0,ZERO,)
b. =IF(A1=,Blank,)
(ExcelalsoprovidesanISBLANKFunctionthatwouldalsowork.)
Chapter3
UsingFunctionsTo
Crunch&CleanData

CleaningDataUsingFunctions
CPAsoftenreceiveorretrievedatafrommanysourcesinawidevarietyofformatssuchasText
orCSVformats.Youdon'talwayshavecontrolovertheformatandtypeofdatathatyouimport
from an external data source, such as a database, text file, or a Web page. Before you can
analyzethedata,youoftenneedtocleanitup.Fortunately,OfficeExcelhasmanyfeaturesto
help you get data in the precise format that you want. Sometimes, the task is straightforward
andthereisaspecificfeaturethatdoesthejobforyou.
For example, you can easily use Spell Checker to clean up misspelled words in columns that
containcommentsordescriptions.Or,ifyouwanttoremoveduplicaterows,youcanquicklydo
this by using the Remove Duplicates dialog box. At other times, you may need to manipulate
oneormorecolumnsbyusingaformulatoconverttheimportedvaluesintonewvalues.
Forexample,ifyouwanttoremovetrailingspaces,youcancreateanewcolumntocleanthe
data by using a formula, filling down the new column, converting that new column's formulas
to values, and then removing the original column. Excel provides many functions to help you
cleanyourdataasfollows:
1. Import
2. TexttoColumns
3. RemoveDuplicates
4. Find&Replace
5. SpellCheck
6. =UPPER
7. =LOWER
8. =PROPER
9. =FIND
10. =SEARCH
11. =LEN
12. =SUBSTITUTE
13. =REPLACE
14. =LEFT
15. =MID
16. =RIGHT
17. =VALUE
18. =CONCATENATE
19. =TEXT
20. =TRIM
21. =CLEAN
22. =FIXED
23. =DOLLAR
24. =CODE
25. Macros
1. Importing Data into Excel Of course excel opens up excel files, but what happens when
youattempttoopendatathatisnotcontainedinanExcelformat?TheansweristhatExcel
automatically imports that data on the fly and displays a Import Wizard to help you
completetheprocess.TheTextImportWizardexaminesthetextfilethatyouareimporting
andhelpsyouimportthedatathewaythatyouwant.TostarttheTextImportWizard,on
theDatatab,intheGetExternalDatagroup,clickFromText.Then,intheImportTextFile
dialog box, doubleclick the text file that you want to import. The following dialog box will
bedisplayed:
If items in the text file are separated by tabs, colons, semicolons, spaces, or other
characters, select Delimited. If all of the items in each column are the same length, select
Fixedwidth.Instep3,clicktheAdvancedbuttontospecifythatoneormorenumericvalues
maycontainatrailingminussign.Alsoclickthedesireddataformatforeachcolumntobe
imported.

2. TexttoColumnsTheTexttoColumnscommandlocatedontheDataRibbonworksexactly
the same way as described above the user simply launches it to convert data within an
existingworksheet.
3. RemovingDuplicateRowsDuplicaterowsareacommonproblemwhenyouimportdata.
You can identify and remove duplicate rows by using the Data, Advanced Filter, Unique
RecordsOnlytoolasshowinthescreenbelow.
4. FindandReplaceTextThistoolcanbeusedtoidentifyandremoveleadingstring,suchas
alabelfollowedbyacolonandspace,orasuffix,suchasaparentheticphraseattheendof
thestringthatisobsoleteorunnecessary.Youcandothisbyfindinginstancesofthattext
andthenreplacingitwithnotextorothertext.

NoteworthyFindandReplacePoints:
1. Youcansearchandreplaceforanentireworksheet,ortheentireworkbook.
2. Youcanfindandreplaceformatswithnewformats.
3. Thereisacellchooseroptionthatmakesiteasiertofindandreplaceformats.
4. Ifyouhighlightarangeofcells,thensearchandreplaceonlysearchesandreplaces
withinthatrangeofcells.
5. Youcanreplaceallatonceoroneatatime.
6. Youcouldalsofindandreplacereferencesinaformula.
5. SpellCheckYoucanuseaspellcheckertonotonlyfindmisspelledwords,buttofindvaluesthat
arenotusedconsistently,suchasproductorcompanynames,byaddingthosevaluestoacustom
dictionary.Thespellcheckfunctionalsochecksyourgrammaraswell.
Changing The Case Of Text You can use one or more of the three Case functions to
convert text to lowercase letters, such as email addresses, uppercase letters, such as
productcodes,orpropercase,suchasnamesorbooktitles.

6. =UPPERConvertstexttouppercaseletters.
7. =LOWERConvertsalluppercaselettersinatextstringtolowercaseletters.
8. =PROPERCapitalizesthefirstletterinatextstringandanyotherlettersintextthatfollowany
characterotherthanaletter.Convertsallotherletterstolowercaseletters.
MergingAndSplittingColumnsAcommontaskafterimportingdatafromanexternaldata
source is to either merge two or more columns into one, or split one column into two or
morecolumns.Forexample,youmaywanttosplitacolumnthatcontainsafullnameintoa
first and last name. Or, you may want to split a column that contains an address field into
separate street, city, region, and postal code columns. The reverse may also be true.
Presentedbelowarefunctionsthattohelpyouaccomplishthesetasks:
9. =FINDUseReturnsthestartingpositionofacharacter,stringofcharactersorwordwithacell.
Findiscasesensitive.
10. =SEARCHReturnsthestartingpositionofacharacter,stringofcharactersorwordwithacell.
Searchisnotcasesensitive.
11. =LENDisplaysthelengthornumberofcharactersinacell.

12. =SUBSTITUTEReplacesacharacterorcharacterswithacharacterorcharactersthatyouspecify.
13. =REPLACEReplacesacharacterorcharacterswithacharacterorcharactersthatyouspecify.
14. =LEFTExtractsthespecifiednumberofcharactersfromacell,startingfromtheleft.
15. =MIDExtractsthespecifiednumberofcharactersfromacell,startingfromsomewhereinthe
middleofthecell.
16. =RIGHTExtractsthespecifiednumberofcharactersfromacell,startingfromtheright.
17. =ValueConvertstexttovaluessothedatacanbeadded,subtracted,multiplied,dividedor
referencedinafunction.
18. =CONCATENATEJoinstwoormoretextstringsintoonetextstring.

Variationsofthesefunctionsthatareusedwhenworkingwithforeignlanguages:
=FINDBUsethiswhenworkingwithforeigncharacterslikethese( " , " )

=SEARCHBUsethiswhenworkingwithforeigncharacterslikethese( " , " )
=REPLACEBUsethiswhenworkingwithforeigncharacterslikethese( " , " )
=LEFTBUsethiswhenworkingwithforeigncharacterslikethese( " , " )
=RIGHTBUsethiswhenworkingwithforeigncharacterslikethese( " , " )
=LENBUsethiswhenworkingwithforeigncharacterslikethese( " , " )
=MIDBUsethiswhenworkingwithforeigncharacterslikethese( " , " )
Cleaning Text (Removing Spaces And Nonprinting Characters From Text) Sometimes
text values contain leading, trailing, or multiple embedded space characters (Unicode
charactersetvalues32and160),ornonprintingcharacters(Unicodecharactersetvalues0
to31,127,129,141,143,144,and157).Thesecharacterscansometimescauseunexpected
resultswhenyousort,filter,orsearch.Forexample,intheexternaldatasource,usersmay
maketypographicalerrorsbyinadvertentlyaddingextraspacecharacters,orimportedtext
data from external sources may contain nonprinting characters that are embedded in the
text. Because these characters are not easily noticed, the unexpected results may be
difficult to understand. Following is a list of functions you can use to remove these
unwantedcharacters:
19. =TEXTConvertsavaluetotextinaspecificnumberformat.
20. =TRIMRemovesthe7bitASCIIspacecharacter(value32)fromtext.
21. =CLEANRemovesthefirst32nonprintingcharactersinthe7bitASCIIcode(values0
through31)fromtext.

22. =FIXEDRoundsanumbertothespecifiednumberofdecimals,formatsthenumberin
decimalformatbyusingaperiodandcommas,andreturnstheresult.
23. =DOLLARConvertsanumbertotextformatandappliesacurrencysymbol.
24. =CODEReturnsanumericcodeforthefirstcharacterinatextstring.
Fixing Dates and Times There aremany different date formats, and these variedformats
may be confused with numbered part codes or other strings that contain slash marks or
hyphens,datesandtimesoftenneedtobeconvertedandreformatted.Presentedbelowis
alistoffunctionsthathelpyouaccomplishthistask.
25. =DATE Returns the sequential serial number that represents a particular date. If the cell format
wasGeneralbeforethefunctionwasentered,theresultisformattedasadate.
26. =DATEVALUEConvertsadaterepresentedbytexttoaserialnumber.

27. =TIME Returns the decimal number for a particular time. If the cell format was General
beforethefunctionwasentered,theresultisformattedasadate.
28. =TIMEVALUE Returns the decimal number of the time represented by a text string. The
decimal number is a value ranging from 0 (zero) to 0.99999999, representing the times
from0:00:00(12:00:00AM)to23:59:59(11:59:59P.M.).
Transforming And Rearranging Columns And Rows Most of the analysis and formatting
features in Office Excel assume that the data exists in a single, flat twodimensional table.
Sometimes you may want to make the rows become columns, and the columns become
rows.Atothertimes,dataisnotevenstructuredinatabularformat,andyouneedawayto
transform the data from a nontabular to a tabular format. The following function can help
youachievethisgoal:
29. =TRANSPOSEReturnsaverticalrangeofcellsasahorizontalrange,orviceversa.
30. Data Fill In Trick A clever trick for filling in missing data can be accomplished using the GOTO,
Special,Blankscommand.Hereishowitworks.Thistrickworkswellwhenyouhavealargevolume
ofdatabutdescriptionsarenotprovidedforeveryrow,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.
Fetching Data Occasionally, database administrators use Office Excel to find and correct
matching errors when two or more tables are joined. This might involve reconciling two
tables from different worksheets, for example, to see all records in both tables or to
comparetablesandfindrowsthatdon'tmatch.
31. =VLOOKUPSearchesforavalueinthefirstcolumnofatablearrayandreturnsavaluein
thesamerowfromanothercolumninthetablearray.Forexample,considertheexample
below which uses a =VLOOKUP function to calculate the appropriate amount of tax due
basedontheIRSrateschedule.

As the Income statement shown in the shaded area is updated , the resulting taxable
income amount is referenced in Cell F13. Next, 3 VLOOKUP functions pull the appropriate
rate, base and threshold information from the rate schedule to be used in calculating
incometax.Oncecalculated,theresultingtaxisreferencedbacktotheincomestatement
forthepurposesofcomputingNetincomeAftertaxes.
KeypointstoConsiderwhenUsingVLOOKUP:
a. If you are looking up based on text, the first column containing lookup
values must be sorted alphabetically in descending order else it will not
workproperly.
b. Ifyouarelookingupbasedontext,youmusthaveanexactmatchbetween
thelookupvalueandthetablearrayvalue.
c. If you are looking up based on values, the first column containing lookup
valuesmustbesortednumericallyindescendingorderelseitwillnotwork
properly.
d. If you are looking up based on values, then Excel will choose the closest
value without going over. For example, if the lookup value is 198,000 and
the table array contains values of 100,000 and 200,000, the n excel will
choose100,000because200,000goesoverorexceeds198,000.(Itmightbe
helpfultothinkbacktotheoldBobbarkergameshowthePriceisRight.)

32. =HLOOKUP Searchesforavalueinthetoprowofatableoranarrayofvalues,andthen

returnsavalueinthesamecolumnfromarowyouspecifyinthetableorarray.
33. =INDEXReturnsavalueorthereferencetoavaluefromwithinatableorrange.Thereare
twoformsoftheINDEXfunction:thearrayformandthereferenceform.
34. =MATCH Returns the relative position of an item in an array that matches a specified
value in a specified order. Use MATCH instead of one of the LOOKUP functions when you
needthepositionofaniteminarangeinsteadoftheitemitself.
35. =OFFSET Returns a reference to a range that is a specified number of rows and columns
fromacellorrangeofcells.Thereferencethatisreturnedcanbeasinglecellorarangeof
cells.Youcanspecifythenumberofrowsandthenumberofcolumnstobereturned.
36. DataCleaningwithMacrosToperiodicallycleanthesamedatasource,considerrecording
a macro or writing code to automate the entire process. There are also a number of
external addins written by thirdparty vendors, listed in the Thirdparty providers section,
thatyoucanconsiderusingifyoudon'thavethetimeorresourcestoautomatetheprocess
onyourown.
37. RAND( ), RANDBETWEEN( ), ROUND( ) In Excel 2003, RANDBETWEEN is not in the

standardEXCELinstallationbutiftheanalysistoolpackisinstalledandtheaddinactivated
itisanextremelyusefulfunction.

38. InformationalFunctions
CELL(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
correspondingresults.
Info_type Returns
"address" Referenceofthefirstcellinreference,astext.
"col" Columnnumberofthecellinreference.
"color" 1 if the cell is formatted in color for negative values; otherwise returns 0
(zero).
"contents" Valueoftheupperleftcellinreference;notaformula.
"filename" Filename (including full path) of the file that contains reference, as text.
Returnsemptytext("")iftheworksheetthatcontainsreferencehasnotyet
beensaved.
"format" Textvaluecorrespondingtothenumberformatofthecell.Thetextvalues
forthevariousformatsareshowninthefollowingtable.Returns""atthe
end of the text value if the cell is formatted in color for negative values.
Returns "()" at the end of the text value if the cell is formatted with
parenthesesforpositiveorallvalues.
"parentheses" 1 if the cell is formatted with parentheses for positive or all values;
otherwisereturns0.
"prefix" Text value corresponding to the "label prefix" of the cell. Returns single
quotation mark (') if the cell contains leftaligned text, double quotation
mark (") if the cell contains rightaligned text, caret (^) if the cell contains
centered text, backslash (\) if the cell contains fillaligned text, and empty

text("")ifthecellcontainsanythingelse.
"protect" 0ifthecellisnotlocked,and1ifthecellislocked.
"row" Rownumberofthecellinreference.
"type" Text value corresponding to the type of data in the cell. Returns "b" for
blankifthecellisempty,"l"forlabelifthecellcontainsatextconstant,and
"v"forvalueifthecellcontainsanythingelse.
"width" Column width of the cell rounded off to an integer. Each unit of column
widthisequaltothewidthofonecharacterinthedefaultfontsize.
Referencethe cell that you want information about. If omitted, information specified in
info_typeisreturnedforthelastcellthatwaschanged.Thefollowinglistdescribesthetext
values CELL returns when info_type is "format", and reference is a cell formatted with a
builtinnumberformat.
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",andifthecellisformattedlater
withacustomformat,thenyoumustrecalculatetheworksheettoupdatetheCELLformula.


ThirdPartySolutionsIncaseExcelsbuiltinfunctionsarenotsufficienttomeetyour
needs,followingisapartiallistofthirdpartyprovidersthathaveproductsthatareusedto
cleandatainavarietyofways.
Provider Product
AddinExpressLtd. AdvancedFind&Replace,MergeCells
Wizard
AddIns.com DuplicateFinder
AddinTools AddinToolsAssist
CDX ZipStream
Click2Convert ConvertsPDFtoExcelformats
DigDB AddinsforExcel
JKPApplicationDevelopment FlexfindforExcel
JWalk&Associates,Inc. PowerUtilityPakVersion7
OfficeAssistanceLLC SimilarDataFinderforExcel
PATools PAToolsAdvancedFindReplace
PDF2XL ConvertsPDFfilestoExcelFormats
SpinnakerSoftwareSolutions SpinnakerDBtoolsforExcel
Vonnix ExcelPowerExpander4.6
WinPure ListCleanerLite
ListCleanerPro
CleanandMatch2007

Chapter4
DataCommands
TheHeart&SoulOfExcel

TheDataMenuPerhapsthepartsofExcelthatareofmostvaluetoCPAs,butleastused
byCPAsaretheDatacommandsfoundundertheDatamenuinExcel2003andearlier,and
on the data Ribbon in Excel 2007. These commands are shown below, and we will
concentratethenexthourtostudyingthesecommands.
Data Sort The Sort tool does exactly what it implies it sorts and data. Key sorting
pointsareasfollows:
1. Contiguous Data The A to Z sorting tool can sort large matrix of data
automaticallyaslongasthedataiscontiguous.Inotherwords,yourdatashould
contain no blank columns, no blank rows, and the columns must all be labeled.
OnlythenwillExcelalwayscorrectlyselecttheentirematrixforsorting.
2. A to Z Button Simply place the cursor in the desired column for sorted, and
presstheAtoZorZtoAbuttonasthecasemaybe.Excelwillautomaticallysort
all continuous columns that have headings and all contiguous rows from the top
row under the heading labels down to the last row in the selected column that
contains data. (Note If you accidently select 2 cells instead of just one, your
resultswillnotbecorrect.)

3. Sortby64ColumnsTheSorttoolisdramaticallyenhancedinExcel2007asit
now provides the ability to sort by up to 64 columns, instead of just 3 columns.
Presentedbelowisadialogboxwhichshowsthisexpandedfunctionality.
4. SortLefttoRightExcelhasalwaysprovidedtheabilitytosortlefttoright.Todo
so, select the options box in the Sort Dialog box and click the check box labeled
SortlefttoRightasshownbelow.
5. SortbyColorExcel2007nowprovidestheabilitytosortbyfontcolororbycell
color, or both. This is handy in many ways. Sometimes CPAs use color to tag or
markcertaincellsandlaterfinditusefultobeabletosortbythosemarkings.In
other situations CPAs use conditional formatting to apply color to cells using a
wide variety of rules. Thereafter Excel can sort the data based on the resulting
colors.Thesortbycoloroptionsareshownbelow.

To be accurate, it was possible to sort by color in Excel 2003. To accomplish this

task,youneededtousethe=CELLfunctioninordertoidentifyinformationabout
a given cell such as the cell color or font color. Thereafter, the results of that
function could be used to sort rows which effectively means that you can sort
bycolorinExcel2003butittakesabitmoreeffort.
6. Sort By Custom List Another sorting capability in Excel is the ability to sort by
CustomList.Forexample,assumeaCPAfirmhastenpartners,andtheManaging
partner prefers to be shown at the top of the list, and the remaining Partners
based on seniority. In this case, you could create a Custom List in the excel
Options dialog box listing the partners in the desired order, and then sort future
reportsbasedonthatorder.
Perhapsabetterexampleuseofthisfeaturewouldbetocreateanonalphabetic
custom list of your chart of accounts, and then sort transactions to produce a
generalledgerinchartofaccountorderevenifyourpreferredchartofaccounts
is not alphabetical. the partner seniority does not match the alphabetic names,
norany
FilteringDataUsingAutoFiltertofilterdataallowsyoutoviewasubsetofyourdata
inarangeofcellsortable.Onceyouhavefilteredthedata,youcanapplyadditionalfilters
to further refine your data view. When you are done, you can clear a filter to once again
redisplay all of the data. To use this tool, start with any list of data and turn on the
AutoFiltertool.Thenpositionyourcursorinthecolumnyouwanttofilterandusethedrop
downarrowstoapplyyourfiltersasshowninthescreenbelow.

Once the filters are applied, you will see a subset your data. For example, the screen
presentedbelowshowsfiltereddataforonlyMaconandSavannahproperties.
Asfiltersareapplied,asmallfunnelappearsinthedropdownarrowbuttontoindicatethat
afilterhasbeenapplied.Youcanapplyfiltersformultiplecolumnssimultaneously.
KeyPointsConcerningTheAutoFilterCommand:
1. Contiguous Data The AutoFilter tools works best when you are working with data
that is contiguous. In other words, your data should contain no blank columns, no
blankrows,andthecolumnsmustallbelabeled.

2. FilterbyMultipleColumnsYoucanfilterbymorethanonecolumn.
3. RemovingFiltersInExcel2003andearlier,afasterwaytoremovemultiplefiltersis
toturnofffilteringandthenturnfilteringbackon.InExcel2007youcansimpleclick
theClearbuttonintheSortandFilterGroupasshownbelow.
4. Filters are Additive Each additional filter is based on the current filterand further
reducesthesubsetofdata.
5. ThreeTypesofFiltersYoucanfilterbasedonlistvalues,byformats,orbycriteria.
Eachofthesefiltertypesismutuallyexclusiveforeachrangeofcellsorcolumntable.
Forexample,youcanfilterbycellcolororbyalistofnumbers,butnotbyboth;you
canfilterbyiconorbyacustomfilter,butnotbyboth.
6. Filters Enabled A dropdown arrow means that filtering is enabled but not
applied.
7. FilterAppliedAFilterbutton meansthatafilterisapplied.


8. FilterSpanningThecommandsunder
the All Dates in the Period menu, such
as January or Quarter 2, filter by the
period no matter what the year. This
canbeuseful,forexample,tocompare
salesbyaperiodacrossseveralyears.
9. This Year vs. YeartoDate Filtering

This Year and YeartoDate are
different in the way that future dates
arehandled.ThisYearcanreturndates
in the future for the current year,
whereas Year to Date only returns
dates up to and including the current
date.
10. Filtering Dates All date filters are

based on the Gregorian calendar as
decreed by Pope Gregory XIII, after
whom the calendar was named, on 24
February 1582. The Gregorian calendar modifies the Julian calendar's regular four
yearcycleofleapyearsasfollows:Everyyearthatisexactlydivisiblebyfourisaleap
year, except for years that are exactly divisible by 100; the centurial years that are
exactly divisible by 400 are still leap years. For example, the year 1900 is not a leap
year;theyear2000isaleapyear.
11. Filtering By Days of Week If you want to filter by days of the week, simply format
thecellstoshowthedayoftheweek.
12. Top&BottomFilteringOntheDatatab,in
the Sort & Filter group, click Filter. Point to
Number Filters and then select Top 10. To
filter by number, click Items. To filter by
percentage, click Percent. Note Top and
bottom values are based on the original
range of cells or table column and not the
filteredsubsetofdata.
13. Above & Below Average Filtering On the

Data tab, in the Sort & Filter group, click
Filter. Point to Filter by Numbers that are
Above/Below Average. Note These values
are based on the original range of cells or
tablecolumnandnotthefilteredsubsetofdata.

14. FilteringOutBlanksTofilterforblanks,intheAutoFiltermenuatthetopofthelist
of values, clear (Select All), and then at the bottom of the list of values, select
(Blanks).
15. FilteringByColorSelectFilterbyColor,andthendependingonthetypeofformat,
selectFilterbyCellColor,FilterbyFontColor,orFilterbyCellIcon.
16. FilterbySelectionTofilterbytext,number,ordateortime,clickFilterbySelected
Cell's Value and then: To filter by cell color, click Filter by Selected Cell's Color. To
filter by font color, click Filter by Selected Cell's Font Color. To filter by icon, click
FilterbySelectedCell'sIcon.
17. RefreshingFiltersToreapplyafilterafterthedatachanges,clickacellintherange
ortable,andthenontheDatatab,intheSort&Filtergroup,clickReapply.
DataFormExcels2003DataFormtoolmakesExcellookmoreandbehavemorelikea
database,suchasMicrosoftAccess.(TheFormbuttonhas notbeenincludedontheOffice
FluentuserinterfaceRibbon,butyoucanstilluseitinOfficeExcel2007byaddingtheForm
buttontotheQuickAccessToolbar.)
A data form provides a convenient means to enter or display one complete row of
informationinarangeortablewithoutscrollinghorizontally.Youmayfindthatusingadata
formcanmakedataentryeasierthanmovingfromcolumntocolumnwhenyouhavemore
columnsofdatathancanbeviewedonthescreen.Useadataformwhenasimpleformof

text boxes that list the column headings as labels is sufficient and you don't need
sophisticatedorcustomformfeatures,suchasalistboxorspinbutton.
KeyPointsusingdataForm:
1. Youcannotprintadataform.
2. Because a data form is a modal dialog box, you cannot use either the Excel Print
commandorPrintbuttonuntilyouclosethedataform.
3. You might consider using the Windows Print Screen key to make an image of the
form,andthenpasteitintoMicrosoftWordforprinting.
Data Subtotals Excel provides an automatic subtotaling which will automatically

calculate and insert subtotals and grand totals in your list or table. Once inserted, Excel
recalculates subtotal and grand total values automatically as you enter and edit the detail
data.TheSubtotalcommandalsooutlinesthelistsothatyoucandisplayandhidethedetail
rows for each subtotal. Examples of a the Subtotal dialog box and a resulting subtotaled
tableareshownbelow.
KeypointstoConsiderWhenUsingSubtotalingareasfollows:

1. Contiguous Data The Subtotal tools works best when you are working with data
that is contiguous. In other words, your data should contain no blank columns, no
blankrows,andthecolumnsmustallbelabeled.
2. Sort Before Your Subtotal You must sort the data by the column you wish to
Subtotalby,elseyouwillreceiveerroneousresults.
3. Other Mathematical Applications The Subtotal tool not only calculates subtotals,
but it can also calculate minimums, maximums, averages, standard deviations, and
otherfunctions.
4. Subtotalsin2007TablesExcel2007deploysSubtotalingalittledifferentlyinthat
the Subtotal tool appears at the bottom of each column in each table, as shown in
thescreenbelow.
5. Automatic Outlining Subtotaling automatically inserts Outlines, which is really

cool. You can then condense and expand the data in total and by subtotal. Some
CPAs also like to copy and paste the condensed subtotal information to another
location but find that this process copies and pastes all of the data. There are two
ways to achieve a clean copy and paste without grabbing all the hidden data as
follows:

a. CTRLkeyHoldtheControlKeydownwhileyouindividuallyclickoneachsubtotal
row.Thiswillenableyoutocopyandpastejustthesubtotaldata.Thisapproachcan
beproblematicbecauseifyoumisclick,youhavetostartover.
b. Select Visible Cells A better approach is to use the Select Visible Cells tool. This
toolwillselectonthedatayoucansee,afterwhichthecopyandpasteroutinewill
yield the desired results. This option is better because it is faster and less error
prone.
DataValidation
Data Validation can be used to limit the data that can be entered into a cell. For example,
youmightwanttheusertoenteronlyvaluesbetween1%and99%.Youmightalsousethis
tool to enable data input to a drop down list. This has two advantages in that it can be
faster and more accurate. Start with the dialog box below to create your drop down list
functionality.
After making all the necessary selections in the validation list dialog box, your worksheet
willbehaveasshownbelow.

Youcanalsoprovidemessagestodefinewhatinputyouexpectforthecell,andinstructions
tohelpuserscorrectanyerrors.Forexample,inamarketingworkbook,youcansetupacell
toallowonlyaccountnumbersthatareexactlythreecharacterslong.Whenusersselectthe
cell,youcanshowthemamessagesuchasthisone:
Ifusersignorethismessageandtypeinvaliddatainthecell,suchasatwodigitorfivedigit
number, you can show them an actual error message. In a more advanced scenario, you
mightusedatavalidationtocalculatethemaximumallowedvalueinacellbasedonavalue
elsewhere in the workbook. In the following example, the user has typed $4,000 in cell E7,
whichexceedsthemaximumlimitspecifiedforcommissionsandbonuses.

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


PivotTables
ThePivotTablereporttoolprovidesaninteractivewaytosummarizelargeamountsofdata.
UseshouldusethePivotTabletoolstocrunchandanalyzenumericaldataPivotTable
reportsareparticularlyusefulinthefollowingsituations:
a. Rearrangingrowstocolumnsorcolumnstorows(or"pivoting")toseedifferent
summariesofthesourcedata.
b. Filtering,sorting,grouping,andconditionallyformattingyourdata.
c. Preparingconcise,attractive,andannotatedonlineorprintedreports
d. Queryinglargeamountsofdata.
e. Subtotalingandaggregatingnumericdata.
f. Summarizingdatabycategoriesandsubcategories
g. Creatingcustomcalculationsandformulas.
h. Expandingandcollapsinglevelsofdata.
i. Drillingdowntodetailsfromthesummarydata
In essence, PivotTables present multidimensional data views to the user this process is
oftenreferredtoasmodeling,datacubeanalysis,orOLAPdatacubes.Torearrange
the PivotTable data, just drag and drop column and row headings to move data around.
PivotTablesareagreatdataanalysistoolformanagement.
If you have never used a PivotTable before, initially the concept can be difficult to grasp.
ThebestwaytounderstandaPivotTableistocreateablankPivotTableandthendragand
drop field names onto that blank table. This way you will see the resulting pivot table
magicallyappearanditwillhelpyoubetterunderstandtheimportantrelationshipbetween
thepivotpalletandthefieldnamelist.
Lets create a simple PivotTable. Start with an Excel worksheet data that contains several
columnsofdatathedatamustincludecolumnandrowheadingsandithelpsifthedatais
contiguous. Place your cursor anywhere in the data and select PivotTable from the Data
menuinExcel2003andclickFinish;orfromtheinsertRibboninExcel2007.Thisprocessis
shownbelow:Letsstartwithapageofdatasummarizingtheresultsoftaxseasonasallof
thetimesheetentrieshavebeenenteredontoasingleworksheetasshownbelow.

Place your cursor anywhere in the data and select PivotTable from the Insert Ribbon as
shownbelow:
ForlearningpurposesletsrightmouseclickonthepivottableandselectPivotTableOptions,
Display,ClassicPivotTableLayout.Yourscreenwillnowappearasfollows:

I like for CPAs to learn how to use Pivot Tables in this view because it visually helps them
understand the all important relationship better the blank pivot palette and the PivotTable
fieldList,bothelementsofwhichareshowninthescreenabove.
To proceed, simply drag and drop field names shown on the right onto the blank Pivot
palette shown on the left. With each drop, your report grows larger. As an alternative you
couldusethecheckboxesnexttofieldnamesthisfunctionalityisnewinExcel2007.After
addedsomedatatoyourblankPivotPalette,yourdatawilllooksomethinglikethis:

Next format and filter the Pivot Report. Very quickly your report comes together as shown
below.NoticethefilterbuttonhasbeenappliedandaPivottablestylehasalsobeenapplied
forappearance.
Doubleclickingonanynumberinapivotreportwillautomaticallyproduceanewworksheet
completewithallsupportingdetailthatcomprisesthesummarynumber.
There are a multitude of PivotTable options that can be applied to alter the appearance or
behaviorofyourPivottable.
KeyPointsConcerningPivotTablesareasFollows:
a. YoucancreateasmanyPivotReportsasyouwantfromyourinitialrawdatapage.Yourraw
dataremainsunchangedasnewPivottablesarecreated.
b. As your raw data changes, your pivot tables are updated each time you press the refresh
button. Or if you prefer you can set your PivotTables to update themselves at regularly
scheduledintervalssayeverytenminutes.
c. A key to understanding PivotTables is understanding the relationship between the Blank

Pivot palette and the PivotTable Field list. As data is selected in the list, it appears on the
PivottableReport.
d. You can alter the PivotTable simple by dragging and dropping the field names in different
locationsonthePivotpalette,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 organized multiple column labels into a neatly
organizedoutlinewhichiseasiertoread.
p. PivotTables can query data directly from any ODBC compliant database. The PivotTable tool
foraccomplishingthistaskisnotincludedintheribbonyouwillfinditbyCustomizingthe
Quick Access Tool Bar and searching the Commands Not Shown in the Ribbon tab to find
thePivotTableandPivotChartWizardOption.
q. Many accounting systems can push data out of the accounting system into an Excel
PivotTable format this is commonly referred to as an OLAP Data Cube. OLAP data Cube is
justafancywordforPivotTableandthereisnodifference.
r. PivotTablescanautomaticallycombine datafrommultiple datasources.ThePivotTabletool

foraccomplishingthistaskisnotincludedintheribbonyouwillfinditbyCustomizingthe
Quick Access Tool Bar and searching the Commands Not Shown in the Ribbon tab to find
thePivotTableandPivotChartWizardOption.

s. Excel also provides a PivotChart function which works similarly to PivotTables. Presented
belowisanexamplePivotChart.
Excel2003PivotTablesworkverysimilarlyasshownbelow.ExcelcreatesablankPivotTable,
and the user must drag and drop the various fields from the PivotTable Field List onto the
appropriate column, row, or data section. As you drag and drop these items, the resulting
reportisdisplayedonthefly.HereistheblankPivotPaletteview.

Now drag and drop field names from the Pivot Table field list onto the Pivot pallet. This
action will automatically create Pivot Table reports and they will change each time you
drop additional field names, or move field names around. Presented below are but a few
examples of hundreds of possible reports that could be viewed with this data through the
PivotTableformat.
This report shown above shows the total resulting sales for each marketing campaign for
eachofthe4monthsmarketingcampaignswereconducted.
In this screen we see the same information is shown as a percentage of the total. A few
observations include the fact that overall Radio Spots are the most profitable type of
campaign, but only in April and July. In January and October, local ads and direct mail,
respectively,producebetterresults.Further,Aprilcampaignshadthebestresponseoverall.

Furtheranalysisinthescreenabovetellsusthatourresultsvarywidelyfromonecitytothe
next. In New York, coupons were least effective, but coupons were most effective in
Columbus. Pivot charts based on PivotTable data can be modified by pivoting and/or
narrowing the data. They can also be published on the Internet (or on an Intranet) as
interactiveWebpages.Thisallowsuserstoplaywiththedata.Thechartbelowprovidesa
visuallookatthedatashownabove.
FilteringPivotTablesIfyoutakeacloselookatyourresultingpivottables,youwillnotice
thatExcelautomaticallyinsertsafilterbuttononeachfieldlistasshownbythedropdown
arrowsinthescreenbelow:

This drop down filter list makes it easy to refine your report to include just the data you
want.
Drilling Pivot Tables Another nice feature in pivot tables is that they are automatically
drillable. Simply double click on any number in a pivot report top have Excel automatically
insert a new sheet and produce the detailed report underlying the number you clicked on.
Anexampleofthisisshownbelow:
Pivot Table Options By right mouse clicking on your pivot table you will reveal several
optionsettingsboxesasshownbelow.Forexample,theseoptionsboxescontrolthetypesof
subtotalsproducedinyourpivotreports.Excelalsooffersapivottableoptionsboxaswellas
alayoutwizardthatmakesproducingpivottablesalittleeasier.


DataTable(WhatifAnalysis)
Datatablesarepartofasuiteofcommandsthatarecalledwhatifanalysistools.Whenyou
usedatatables,youaredoingwhatifanalysis.Whatifanalysisistheprocessofchanging
the values in cells to see how those changes will affect the outcome of formulas on the
worksheet. For example, you can use a data table to vary the interest rate and term length
thatareusedinaloantodeterminepossiblemonthlypaymentamounts.
ThreecategoriesofWhatifAnalysisToolsTherearethreekindsofwhatifanalysistoolsin
Excel:
1. DataTables
2. GoalSeek
3. Scenarios
A data table cannot accommodate more than two variables. If you want to analyze more
than two variables, you should instead use scenarios. Although it is limited to only one or
twovariables(onefortherowinputcellandoneforthecolumninputcell),adatatablecan
includeasmanydifferentvariablevaluesasyouwant.Ascenariocanhaveamaximumof32
differentvalues,butyoucancreateasmanyscenariosasyouwant.
LoanAnalysisInthisexercise,westartbycreatingasimplePaymentfunctiontocalculate
thepaymentamountofaloangivenaloanamount,interestrateandnumberofperiods.
ThenextstepistocreateaTwoWayDataTabledisplayingtheresultingpaymentamount
given a variety of lengths of the loan. This process is started by creating a list of the
alternative loan amounts, as shown below in B8, B9, B10, etc. Cell C7 must reference the
resultsyouwanttobedisplayedinthetable.

ThenextstepistohighlightthedatatablerangeandusetheDataTablecommandunder
theDatamenu(asshownbelow)togeneratethedesiredtable.
Thisprocesswillgeneratethefollowingtable:
Thistabletellsusthatthesameloanamountwillrequireamonthlypaymentof$3,331to
paytheloanoffinjust10years,andamonthlypaymentof$5,800torepaytheloaninjust
5years.

Thenextstepinthisexerciseistogeneratealinechartbasedonthedatatablewejust
created.Thislinechartwillprovidesomeinterestingobservationsregardingthebenefits
anddetrimentsofpayingoffloansoverlongerperiods.
Theresultingchartisshownasfollows:
Based on this, no one should ever obtain a fair market loan for more than 15 years, the
reductioninpaymentssimplyarentworththeadditionallengthoftheloan.Thissamebasic
behavior is seen whether the interest rate is 1% or 100%. The only time you might be

justified in obtaining a loan loner than 15 years might be when you are extended a
favorableinterestthisbetterthanafairmarketinterestrate.
Goal Seek
Ifyouknowtheresultthatyouwantfromaformula,butarenotsurewhatinputvaluethe
formulaneedstogetthatresult,usetheGoalSeekfeature.Forexample,supposethatyou
needtoborrowsomemoney.Youknowhowmuchmoneyyouwant,howlongyouwantto
taketopayofftheloan,andhowmuchyoucanaffordtopayeachmonth.YoucanuseGoal
Seek to determine what interest rate you will need to secure in order to meet your loan
goal. Goal Seek works only with one variable input value. If you want to accept more than
oneinputvalue;forexample,boththeloanamountandthemonthlypaymentamountfora
loan,youusetheSolveraddindiscussedattheendofthismanual.
Scenarios
Scenario Manager allows you to create and save multiple what if scenarios (such as best
case, most likely, and worst cases scenarios). You can also create a summary table of the
scenarioresultsinseconds.Itisparticularlyusefulforworksheetssuchasbudgetsinwhich
users have often saved multiple copies of the same worksheet to accomplish the same
objective. An example is shown below. In this example, a tire company has prepared a
revenue budget for the coming year, and has created three alternative scenarios to
generatetherevenuesthatwillresultgivenavarietyofmarkupassumptionsinthiscase
100%,110%and120%markups.

Pressing the summary button in the scenario manager dialog box will create the following
Pivot Tableofpossible alternativeresults.Hereweseedetailedrevenueprojectionsforall
tiresandlaborfeesgivenallthreepossiblescenariosof100%,110%,and120%markup.
With a few simple copy paste commands, the newly created data can be positioned and
formattednexttotheoriginalprojectionsasshowninthescreenbelow.
Ofcoursethescenariosabovecouldhavebeencreatedeasilyusingsimpleformulasinstead
ofusingthescenariomanagertoolasdescribedabove.Thisunderscoresthatbestpurpose
ofscenariomanagerwhichistokeeptrackofolderandchangingdatathroughtime,rather
than producing whatif scenarios. For example, a complex projection containing scenarios
based on original assumptions, revised assumptions, and final assumptions will allow
managementtogobackandreviewtheassumptionsusedthroughouttheproject,andsee
howthoseassumptionschangedasprojectplanningprogressed.

DataTexttoColumns
As discussed earlier in this manual, often CPAs receive data from their clients or IT
departmentsthatisintextform.Whenthishappens,Excelcansplitthecontentsofoneor
morecellsinacolumnanddistributethosecontentsasindividualpartsacrossothercellsin
adjacent columns. For example, the worksheet below contains a column of full names and
amounts that you want to split into separatecolumns. The Text to Columns Wizard parses
thedataautomaticallyintoseparate
Select the cell, range (range: Two or more cells on a sheet. The cells in a range can be
adjacent or nonadjacent.), or entire column that contains the text values that you want to
split.NoteArangethatyouwanttosplitcanincludeanynumberofrows,butitcaninclude
no more than one column. You also should keep enough blank columns to the right of the
selectedcolumntopreventexistingdatainadjacent
DataConsolidate
Excel can combine, summarize, and report consolidated results from separate worksheets.
The underlying worksheets can be in the same workbook or in other separate workbooks.
Therearetwodifferentsitautionsasfollows:

1. YouAreConsolidatingSimilarDataSuchasdepartmentalbudgetswhereeveryworksheet
containstheexactsamelabelsintheexactsamecells.Inthiscase,youcanwriteaSpearing
Formulawhichcanconsolidatethenecessaryinformationeasily.
2. You Are Consolidating DisSimilar Data The various worksheets contain different row and
columndescriptionslocatedindifferentlocationsontheworksheets.Inthiscaseyoushould
usetheDataConsolidatecommand.
For example, assume that you have received budgets from multiple departments, and you
wanttocombinethemtogether.Inthiscase,Excelwilldotheworkforyou.Youcanusea
consolidationtorollupthesefiguresintoacorporatebudgetworksheet,asshownbelow.

DataGrouping&Outlining
Ifyouhavealistofdatathatyouwanttogroupandsummarize,youcancreateanoutline
ofuptoeightlevels,oneforeachgroup.Eachinnerlevel,representedbyahighernumber
in the outline symbols displays detail data for the preceding outer level, represented by a
lower number in the outline symbols. Use an outline to quickly display summary rows or
columns,ortorevealthedetaildataforeachgroup. Youcancreateanoutlineof rows(as
shown in the example below), an outline of columns, or an outline of both rows and
columns.
WebQueries
Excel includes predesigned queries that can import commonly used data in 10 seconds.
For example, you could use a web query to create a stock portfolio. All you need is a
connection to the Internet and of course, some stock ticker symbols. In Excel 2003 select
Data, Import External Data, Import Data and walk through the web query wizard for
importing stock quotes. In Excel 2007 and later use the Data Ribbon, Existing Connections,
StockQuotesoption.Inseconds,Excelwillretrieve20minutedelayedstockpricesfromthe
web(duringthehourswhenthestockmarketisopen)anddisplayagridofcompleteupto
datestickpriceinformationthatissynchronizedtothestockmarketschangingstockprices.
With each click of the Refresh button, the stock price information in Excel is updated
thissurebeatspickingnumbersoutofthenewspaper.

Completing the Stock Portfolio Next link the grid data to another worksheet, and insert
new columns containing the number of shares owned, as wells as an additional column to
computerthetotalvaluebasedonsharesowned,asshownbelow.
RefreshingtheStockPricesOnceyouhavecreatedyourportfolio,simplyclicktheRefresh
DatabuttonontheExternalDataToolbarinExcel2003orontheDataRibboninExcel
2007shownbelowtoupdatethecurrentvalueofyourPortfolio.
Query Parameters There are numerous options to help you extract exactly the data you
want they way you want it. The Web Query Parameters Box, Web Query Options box
and External Data Properties Box provide numerous options for controlling your web
query.

DatabaseQueries
MicrosoftExcelcanalsoqueryandretrievedatayouwantfromanexternaldatasource.For
example,youcanretrieveMicrosoftExceldataaboutaspecificproductbyregion.Youcan
createasimplequerybyusingtheQueryWizard,oryoucancreateamorecomplexquery
byusingtheadvancedfeaturesofMicrosoftQuery.
TouseMicrosoftQuerytoretrieveexternaldata,youmust:
1. Have access to an external data source If the data is not on your local computer,
youmayneedtoseetheadministratoroftheexternaldatabaseforapassword,user
permission,orotherinformationabouthowtoconnecttothedatabase.
2. Install Microsoft Query If Microsoft Query is not available, you might need to
installit.
3. Specifyasourcetoretrievedatafrom,andthenstartusingMicrosoftQueryFor
example, if you want to insert database information, display the Database toolbar,
clickInsertDatabase,clickGetData,andthenclickMSQuery.
For example, suppose we have some data in our accounting system Sage MAS 200 ERP
that we would like to analyze in Excel. We can use the Database Query Wizard to build a
querythatwillextractthedataweneedandplaceitinanExcelspreadsheet.

Thefirststepistoselectthetypeofdatabaseyouwanttoqueryandtoselectthespecific
database.
Upon the selection of the desired database a list of tables will be presented. Choose the
desired tables, and select the desired data fields to be imported. You will then have the
optiontofilterandsortthedatabeforeitisimported.Finallyyouwillbegiventheoption
tosavethequerysothatyoucanrunitatalaterdatewithouthavingtostartfromscratch.
Excelwillthenreturnatablefullofthedatayourequestedasshowninthescreenbelow.


Chapter5
MACROS
AutomatingYourKeyStrokes

Macros
Macros offer a powerful and flexible way to extend the features of Excel. They allow the
automation of repetitive tasks such as printing, formatting, configuring, or otherwise
manipulatingdatainExcel.Initssimplestform,amacroisarecordingofyourkeystrokes.
WhilemacrosrepresentoneofthestrongerfeaturesfoundinExcel,theyarerathereasyto
createanduse.TherearesixmajorpointsthatIliketomakeaboutmacrosasfollows.
1. Record, Use Excel, Stop Recording To create a macro, simply turn on the macro
recorder,useExcelasyounormallydo,thenturnofftherecorder.Prestoyouhave
created a macro. While the process is simple from the users point of view,
underneath the covers Excel creates a Visual Basic subroutine using sophisticated
VisualBasicprogrammingcommands.
2. MacroLocationMacroscanbestoredineitheroftwolocations,asfollows:
a. Theworkbookyouareusing,or
b. YourPersonalMacroWorkbook(whichbydefaultishiddenfromview)
If your macro applies to all workbooks, then store it in the Personal Macro
Workbook so it will always be available in all of your Excel workbooks; otherwise
storeitinyourcurrentworkbook.Amacrostoredinyourcurrentworkbookwillbe
embedded and included in the workbook, even if you email the workbook to
anotheruser.
3. AssignyourMacrotoanIcon,TextoraButtonTomakeiteasytorunyourmacro,
you should assign it to a toolbar icon so it will always be available nomatter which
workbooksyouhaveopen.Ifthemacroappliesonlytoyourcurrentworkbook,then
assign it to Text or a macro Button so it will be quickly available in your current
workbook.
4. AbsoluteversusRelativeMacrosAnAbsolutemacrowillalwaysaffectthesame
cells each time whereas a Relative macro will affect those cells relative to where
your cursor is positioned when you invoke the macro. It is crucial that you
understandthedifference.
5. EditingMacrosOncecreated,youcanviewand/oredityourmacrousingtheView
Macros option. This will open the macro subroutine in a Visual basic programming
windowandprovideyouwithaplethoraofVBtools.
6. Advanced Visual Basic Programming For the truly ambitious CPA, in the Visual
Basic Programming window, you have the necessary tools you need to build very
sophisticated macros with dialog boxes, drop down menu options, check boxes,

radiobuttonsthewholeworks.Iinviteyoutoknockyourselfout.Toseeallofthis
power,turnontheDeveloperTabinExcelOptions(seebelow).
Presentedbelowaremoredetailedcommentsandstepbystepinstructionsforcreating
andinvokingmacros,followedbysomeexamplemacros.
1. CreatingaMacroTocreateamacro,clickRecordMacrointheCodeGrouponthe
DeveloperTab.
a. AssignaNameIntheMacroNamebox,enteranameforthemacro.
i. Thefirstcharacterofthemacronamemustbealetter.
ii. Subsequent characters can be letters, numbers, or underscore
characters.
iii. Spacescannotbeusedinamacroname(anunderscorecharacter
isoftenusedasawordseparator.
iv. Ifyouuseamacronamethatisalsoacellreference,youmayget
anerrormessagethatthemacronameisnotvalid.
b. Assign a CTRL Combination (optional) You can assign a CTRL combination

shortcut key to run the macro by typing any lowercase letter or uppercase
letterthatyouwanttouseintheShortcutkeybox.
i. The shortcut key will override any equivalent default Excel

shortcutkeywhiletheworkbookthatcontainsthemacroisopen.
c. MacroLocationIntheStoreMacroInlist,selecttheworkbookwhere
youwanttostorethemacro.
i. Asmentionedabove,ifyouwantamacrotobeavailable
wheneveryouuseExcel,selectPersonalMacroWorkbook.
WhenyouselectPersonalMacroWorkbook,Excelcreatesa
hiddenpersonalmacroworkbook(Personal.xlsb)ifitdoesnot
alreadyexist,andsavesthemacrointhisworkbook.
ii. InWindowsVista,thisworkbookissavedintheC:\Users\user
name\AppData\Local\Microsoft\Excel\XLStartfolder.
iii. InMicrosoftWindowsXP,thisworkbookissavedinthe
C:\DocumentsandSettings\username\Application
Data\Microsoft\Excel\XLStartfolder.
iv. WorkbooksintheXLStartfolderareopenedautomatically
wheneverExcelstarts.
v. Ifyouwantamacrointhepersonalmacroworkbooktoberun
automaticallyinanotherworkbook,youmustalsosavethat

workbookintheXLStartfoldersothatbothworkbooksare
openedwhenExcelstarts.
d. MacroDescriptionIntheDescriptionbox,typeadescriptionofthe
macro.
e. StartRecordingClickOKtostartrecording.
f. StartTypingPerformtheactionsthatyouwanttorecord.
g. StopRecordingWhenyouaredoneclickStopRecordingintheCode
GroupOntheDeveloperTab.

i. YoucanalsoclickStopRecordingontheleftsideofthestatus
bar.
h. Assignamacrotoanobject,graphic,orcontrolOnaworksheet,right
clicktheobject,graphic,orcontroltowhichyouwanttoassignan
existingmacro,andthenclickAssignMacro.IntheMacronamebox,click
themacrothatyouwanttoassign.
2. Menu Navigation Not Recorded When you record a macro, the macro recorder
recordsallthestepsrequiredtocompletetheactionsthatyouwantyourmacroto
perform. Navigation on the Ribbon is not included in the recorded steps, only the
commandsthatareexecutedarerecordedinthemacro.
3. Turn On The Developer Tab Turn on the Developer tab by clicking the Microsoft
OfficeStartButton,andthenclickExcelOptions.InthePopularcategory,underTop
options for working with Excel, select the Show Developer tab in the Ribbon check
box,andthenclickOK.
4. Enable Macros If the macro functions are disabled, you can enable them by
selectingMacroSecurityintheCodegroupontheDevelopertabasshownbelow.
Under Macro Settings, click Enable all macros (not recommended, potentially
dangerouscodecanrun),andthenclickOK.
5. ExampleMacros

a. Page Setup Macro Start recording a new macro called page setup. Select
alloftheworksheetsandthenchoosePageSetupandcustomizetheheader
and footers to include page numbers, date and time stamps, file locations,
tabnames,etc.AssignthemacrotoanIcononyourtoolbarorQuickAccess
Bar and insetting headers and footers will be a breeze for the rest of your
life.
b. PrintMacrosDoyouhaveatemplatethatyouprintfrequentlyfrom?Ifso,
insert several macro buttons to print each report, a group of reports, and
evenmultiplereportsandreportingwillbesnapinthefuture.
c. Delete Data Macro Do you have a template that you use often that
contains a lot of variables? If so, create a macro that visits each cell and
erases that data, resetting the worksheet for use in a new set of criteria.
Assign the macro to a macro button and you will never again have old
assumptionsmixedinwithyournewertemplate.


Chapter6
Miscellaneous


Solver
Solver is one of the more powerful features in Excel because it can solve for optimum
results in complex worksheets while obeying stated constraints. With Solver, you can find
an optimal value for a formula by manipulating a group of cells that are related, either
directly or indirectly, to the formula in the target cell. Solver adjusts the values in the
adjustablecellstoproducetheresultyouspecifyfromthetargetcellformula.Youcanapply
constraintstorestrictthevaluesSolvercanuseinthemodel,andtheconstraintscanrefer
toothercellsthataffectthetargetcellformula.
In the portfolio example shown below, the user wishes to determine how much money to
invest in various investments in order to maximize the return on those investments. Of
coursethemaximumresultscanbeachievedbysimplyplaceinallmoniesintheinvestment
thatyieldsthehighestresults,howeverthisapproachviolatesthedontputallofyoureggs
inonebasketrule.Inthiscasetheuserwantstodiversifytheirfundsacrossmanytypesof
investments.Thereforeconstraintsareestablishedsuchasnomorethan35%offundscan
beinvestedinbluechipstocksandthecheckingaccountingmustcontainatleast$100,000.
Aportfolioisshownbelowandsomeconstraintshavebeenincludedinlustform.These
constraintswillneedtobestatedintermsofformulasinthesolvermanagerdialogbox.

ThekeytomakingsolverworkisthesolverParametersdialogboxshownbelow.
Thetargetcellissettorefertothetotalportfoliovalueattheendoftheyearbecausethis
is the value that we want to maximize. The changing cells are set to reference the
percentagesofeachinvestment.Finallythevariousconstraintsareexpressedasformulasas
showninthelowerlefthandcornerofthedialogbox. Oncesolverhas beenrunonce,the
solver formulas stick to the worksheet and the results are changed and updated as the
various assumptions in the worksheet are changed and updated. For example, you may
later determine that the growth rate for real estate is a different amount. Inputting that
new amount in the worksheet will cause Excel to automatically adjust all variables to
producetheoptimuminvestmentmixthatmaximizesearningswithoutviolatinganystated
constraints.


Chapter7
XMLData


OverviewofXMLinExcel HideAll
Microsoft Office Excel makes it easy to import Extensible Markup Language (XML)(Extensible
MarkupLanguage(XML):AcondensedformofStandardGeneralizedMarkupLanguage(SGML)that
enables developers to create customized tags that offer flexibility in organizing and presenting
information.) data that is created from other databases and applications, to map XML elements
from an XML schema(XML Schema: A formal specification, written in XML, that defines the
structure of an XML document, including element names and rich data types, which elements can
appearincombination,andwhichattributesareavailableforeachelement.)toworksheetcells,and
to export revised XML data for interaction with other databases and applications. Think of these
XMLfeaturesasturningOfficeExcelintoanXMLdatafilegeneratorwithafamiliaruserinterface.
1. WhyuseXMLinExcel?
a. XMLdataandschemafiles
b. KeyXMLandExcelscenarios
2. ThebasicprocessofusingXMLdatainExcel
a. WorkingwithXMLmaps
b. UsingtheXMLSourcetaskpane
c. Elementtypesandtheiricons
d. Workingwithsinglemappedcells
e. WorkingwithrepeatingcellsinXMLtables
f. XMLmapsecurityconsiderations
g. ImportingXMLdata
h. Workingwithaninferredschema
i. ExportingXMLdata
3. UsingtheExcelmacroenabledOfficeXMLFormatfile
WhyuseXMLinExcel?
XMLisatechnologythatisdesignedformanagingandsharingstructureddatainahumanreadable
text file. XML follows industrystandard guidelines and can be processed by a variety of databases
and applications. Using XML, application designers can create their own customized tags, data
structures, and schemas. In short, XML greatly eases the definition, transmission, validation, and
interpretationofdatabetweendatabases,applications,andorganizations.
XMLdataandschemafiles
ExcelworksprimarilywithtwotypesofXMLfiles:
XMLdatafiles(.xml),whichcontainthecustomtagsandstructureddata.
Schemafiles(.xsd),whichcontainschematagsthatenforcerules,suchasdatatypeandvalidation.
NoteThe XML standard also defines Extensible Stylesheet Language Transformation (XSLT)(XSL
Transformation (XSLT): A file that is used to transform XML documents into other types of
documents,suchasHTMLorXML.ItisdesignedforuseaspartofXSL.)(.xslt)files,whichareusedto
apply styles and transform XML data into different presentation formats. You can apply these
transformsbeforeyouimportXMLfilesintoExcelandafteryouexportXMLfilesfromExcel.IfXSLT
filesarelinkedtoXMLdatafilesthatyouimportintoExcel,youdohavetheoptiontoapplyornot
applytheformattingbeforethedataisaddedtotheworksheet,butonlywhenyouopenanXMLfile
byusingtheOpencommandontheMicrosoftOfficeButton.

KeyXMLandExcelscenarios
By using XML and Excel, you can manage workbooks and data in ways that were previously
impossible or very difficult. By using XML maps, you can easily add, identify, and extract specific
piecesofbusinessdatafromExceldocuments.Forexample,aninvoicethatcontainsthenameand
address of a customer or a report that contains last quarter's financial results are no longer just
staticreports.Youcaneasilyimportthisinformationfromdatabasesandapplications,reviseit,and
exportittothesameorotherdatabasesandapplications.Thefollowingarekeyscenariosthatthe
XMLfeaturesaredesignedtoaddress:
1. ExtendthefunctionalityofexistingExceltemplatesbymappingXMLelementsontoexisting
cells.ThismakesiteasiertogetXMLdataintoandoutofyourtemplateswithouthavingto
redesignthem.
2. Use XML data as input to your existing calculation models by mapping XML elements onto
existingworksheets.
3. ImportXMLdatafilesintoanewworkbook.
4. ImportXMLdatafromaWebserviceintoyourExcelworksheet.
5. ExportdatainmappedcellstoXMLdatafilesindependentfromotherdataintheworkbook.
ThebasicprocessofusingXMLdatainExcel
The following diagram shows how the different files and operations work together when you use
XMLwithExcel.Essentially,therearefivephasestotheprocess:
1. AddinganXMLschemafile(.xsd)toaworkbook
2. MappingXMLschemaelementstoindividualcellsorXMLtables
3. ImportinganXMLdatafile(.xml)andbindingtheXMLelementstomappedcells
4. Entering data, moving mapped cells, and leveraging Excel functionality, while preserving
XMLstructureanddefinitions
5. ExportingreviseddatafrommappedcellstoanXMLdatafile
6.


WorkingwithXMLmaps
YoucancreateoropenaworkbookinExcel,attachanXMLschemafile(.xsd)totheworkbook,and
thenusetheXMLSourcetaskpanetomapXMLelementsoftheschematoindividualcellsortables.
AfteryoumaptheXMLelementstoyourworksheet,youcanimportandexportXMLdataintoand
outofthemappedcells.WhenyouaddanXMLschemafile(.xsd)toyourworkbook,youcreatean
XML map. In general, XML maps are used to create mapped cells and to manage the relationship
betweenmappedcellsandindividualelementsintheXMLschema.Inaddition,theseXMLmapsare
used to bind the contents of mapped cells to elements in the schema when you import or export
XMLdatafiles(.xml).
There are two kinds of mapped cells that you can create: singlemapped cells and repeating cells
(which appear as XML tables). To make designing your worksheet more flexible, you can drag the
mapped cells anywhere on a worksheet and into any order even one different from the XML
schema.Youcanalsochoosewhichelementstomapandnotmap.
ThefollowingrulesaboutusingXMLmapsareimportanttoknow:
1. AworkbookcancontainoneormoreXMLmaps.
2. Youcanonlymaponeelementtoonelocationinaworkbookatatime.
3. Each XML map is an independent entity, even if multiple XML maps in the same workbook
refertothesameschema.
4. AnXMLmapcanonlycontainonerootelement.Ifyouaddaschemathatdefinesmorethan
one root element, you are prompted to choose the root element to use for the new XML
map.
UsingtheXMLSourcetaskpane
You use the XML Source task pane to manage XML maps. To open it, on the Developer tab, in the
XMLgroup,clickSource.Thefollowingdiagramshowsthemainfeaturesofthistaskpane.
1. ListsXMLmapsthatwereaddedtotheworkbook

2. DisplaysahierarchicallistofXMLelementsinthecurrentlylistedXMLmap
3. SetsoptionswhenworkingwiththeXMLSourcetaskpaneandtheXMLdata,suchashow
topreviewthedataandcontrolheadings
4. OpenstheXMLMapsdialogbox,whichyoucanusetoadd,delete,orrenameXMLmaps
5. VerifieswhetheryoucanexportXMLdatathroughthecurrentXMLmap
Elementtypesandtheiricons
The following table summarizes each type of XML element that Excel can work with and the icon
thatisusedtorepresenteachtypeofelement.
Elementtype Icon
Parentelement
Requiredparentelement
Repeatingparentelement

Requiredrepeatingparentelement
Childelement
Requiredchildelement

Repeatingchildelement

Requiredrepeatingchildelement

Attribute
Requiredattribute

Simplecontentinacomplexstructure

Requiredsimplecontentinacomplexstructure

Workingwithsinglemappedcells
A singlemapped cell is a cell that has been mapped to a nonrepeating XML element. You create a
singlemappedcellbydragginganonrepeatingXMLelementfromtheXMLSourcetaskpaneontoa
singlecellinyourworksheet.WhenyoudraganonrepeatingXMLelementontotheworksheet,you
can use a smart tag to choose to include the XML element name as a heading above or just to the
leftofthesinglemappedcell,oryoucanuseanexistingcellvalueasaheading.Youcanalsousea
formula in a singlemapped cell, if the cell is mapped to an XML element with an XML Schema
Definition(XSD)datatypethatExcelinterpretsasanumber,date,ortime.
WorkingwithrepeatingcellsinXMLtables
XMLtablesaresimilarinappearanceandfunctionalitytoExceltables.AnXMLtableisanExceltable
that has been mapped to one or more XML repeating elements. Each column in the XML table
representsanXMLelement.AnXMLtableiscreatedwhenyou:

1. UsetheImportcommand(intheXMLgroupontheDevelopertab)toimportanXMLdata
file.
2. UsetheOpencommand(ontheMicrosoftOfficeButton)toopenanXMLdatafileand
thenselectAsanXMLtableintheOpenXMLdialogbox.
3. UsetheFromXMLDataImportcommand(fromtheFromOtherSourcescommandbutton,
in the Get External Data group, on the Data tab) to import an XML data file and then
selectXMLtableinexistingworksheetorNewworksheetintheImportDatadialogbox.
4. DragoneormorerepeatingelementsfromtheXMLSourcetaskpanetoaworksheet.
5. When you create an XML table, the XML element names are automatically used as column
headings. You can change these to any column headings that you want. However, the
originalXMLelementnamesarealwaysusedwhenyouexportdatafromthemappedcells.
TwooptionsundertheOptionsbuttonintheXMLSourcetaskpaneareusefulwhenyouworkwith
XMLtables:
1. Automatically Merge Elements When MappingWhen selected, Excel creates one XML
tablefrommultiplefieldsastheyaredroppedontotheworksheet.Thisoptionworksaslong
as the multiple fields are dropped on the same row, one adjacent to the other. When this
optioniscleared,eachelementappearsasitsownXMLtable.
2. MyDataHasHeadingsWhenselected,existingheadingdataisusedascolumnheadingsfor
repeating elements that you map to your worksheet. When this option is cleared, the XML
elementnamesareusedascolumnheadings.
Using XML tables, you can easily import, export, sort, filter, and print data based on an XML data
source.However,XMLtablesdohavesomelimitationsregardinghowtheycanbearrangedonthe
worksheet.
XMLtablesarerowbased,meaningthattheygrowfromtheheaderrowdown.Youcannotaddnew
entriesaboveexistingrows.YoucannottransposeanXMLtablesothatnewentrieswillbeaddedto
theright.YoucanuseformulasincolumnsthataremappedtoXMLelementswithanXMLSchema
Definition(XSD)datatypethatExcelinterpretsasanumber,date,ortime.JustasinanExceltable,
formulasinanXMLtablearefilleddownthecolumnwhennewrowsareaddedtothetable.
XMLmapsecurityconsiderations
An XML map and its data source information are saved with the Excel workbook, not a specific
worksheet. A malicious user can view this map information by using a Microsoft Visual Basic for
Applications(VBA)macro.Furthermore,ifyousaveyourworkbookasamacroenabled ExcelOpen
XML Format File, this map information can be viewed through Microsoft Notepad or through
anothertexteditingprogram.
If you want to keep using the map information but remove the potentially sensitive data source
information, youcan deletethedatasourcedefinitionofthe XMLschemafromtheworkbook,but
stillexporttheXMLdata,byclearingtheSavedatasourcedefinitioninworkbookcheckboxinthe
XML Map Properties dialog box, which is available from the Map Properties command in the XML
groupontheDevelopertab.
If you delete a worksheet before you delete a map, the map information about the data sources,
and possibly other sensitive information, is still saved in the workbook. If you are updating the

workbook to remove sensitive information, make sure that you delete the XML map before you
deletetheworksheet,sothatthemapinformationispermanentlyremovedfromtheworkbook.
ImportingXMLdata
You can import XML data into an existing XML map in your workbook. When you import data, you
bind the data from the file to an XML map that is stored in your workbook. This means that each
data element in the XML data file has a corresponding element, in the XML schema, that you
mapped from an XML Schema file or inferred schema. Each XML map can only have one XML data
binding, and an XML data binding is bound to all of the mappings that were created from a single
XML map. You can display the XML Map Properties dialog box (Click Map Properties in the XML
group on the Developer tab.), which has three options, all selected by default, that you can set or
cleartocontrolthebehaviorofanXMLdatabinding:
1. ValidatedataagainstschemaforimportandexportSpecifieswhetherExcelvalidatesdata
againsttheXMLmapwhenimporting data.Clickthisoptionwhenyouwanttoensurethat
theXMLdatathatyouimportconformstotheXMLschema.
2. Overwrite existing data with new dataSpecifies whether data is overwritten when you
importdata.Clickthisoptionwhenyouwanttoreplacethecurrentdatawithnewdata,for
example,whenuptodatedataiscontainedinthenewXMLdatafile.
3. AppendnewdatatoexistingXMLtablesSpecifieswhetherthecontentsofthedatasource
are appended to the existing data on the worksheet. Click this option, for example, when
youareconsolidatingdatafromseveralsimilarXMLdatafilesintoanXMLtable,oryoudo
notwanttooverwritethecontentsofacellthatcontainsafunction.
When you import XML data, you may want to overwrite some mapped cells but not others. For
example, some mapped cells may contain formulas and you don't want to overwrite the formula
whenyouimportanXMLfile.Therearetwoapproachesthatyoucantake:
1. Unmap the elements that you don't want overwritten, before you import the XML data.
AfteryouimporttheXMLdata,youcanremaptheXMLelementtothecellscontainingthe
formulas,sothatyoucanexporttheresultsoftheformulastotheXMLdatafile.
2. CreatetwoXMLmapsfromthesameXMLschema.UseoneXMLmapforimportingtheXML
data. In this "Import" XML map, don't map elements to the cells that contain formulas or
otherdatathatyoudon'twantoverwritten.UseanotherXMLmapforexportingthedata.In
this"Export"XMLmap,maptheelementsthatyouwanttoexporttoanXMLfile.
The ability to import XML data from a Web service by using a Data Retrieval Service Connection
(.uxdc)filetoconnecttoadatasourceisnolongersupportedinMicrosoftOfficeExcel2007through
theuserinterface.IfyouopenaworkbookthatwascreatedinOfficeExcel2003,youcanstillview
thedata,butyoucannoteditorrefreshthesourcedata.
Workingwithaninferredschema
If you import XML data without first adding a corresponding XML schema to create an XML map,
Excel tries to infer a schema for you based on the tags that are defined in the XML data file. The
inferredschemaisstoredwiththeworkbook,andtheinferredschemaallowsyoutoworkwithXML
dataifanXMLschemafileisn'tassociatedwiththeworkbook.WhenyouworkwithimportedXML
data that has an inferred schema, you can also customize the XML Source task pane. Select the

PreviewDatainTaskPaneoptionfromtheOptionsbuttontodisplaythefirstrowofdataassample
data in the element list, if you imported XML data associated with the XML map in the current
sessionofExcel.
You cannot export the Excel inferred schema as a separate XML schema data file (.xsd). Although
there are XML schema editors and other methods for creating an XML schema file, you may not
haveconvenientaccesstothemorknowhowtousethem.Asanalternative,youcanusetheExcel
2003 XML Tools Addin Version 1.1, which can create a schema file from an XML map. For more
information,seeUsingtheExcel2003XMLToolsAddinVersion1.1.
ExportingXMLdata
YouexportXMLdatabyexportingthecontentsofmappedcellsontheworksheet.Whenyouexport
data,Excelappliesthefollowingrulestodeterminewhatdatatosaveandhowtosaveit:
1. Emptyitemsarenotcreatedwhenblankcellsexistforanoptionalelement,butemptyitems
arecreatedwhenblankcellsexistforarequiredelement.
2. UnicodeTransformationFormat8(UTF8)encodingisusedtowritethedata.
3. AllnamespacesaredefinedintheRootXMLelement.
4. Exceloverwritesexistingnamespaceprefixes.Thedefaultnamespaceisassignedaprefixof
ns0. Successive namespaces are designated ns1, ns2 to ns<count> where <count> is the
numberofnamespaceswrittentotheXMLfile.
5. Commentnodesarenotpreserved.
6. YoucandisplaytheXMLMapPropertiesdialogbox(ClickMapPropertiesintheXMLgroup
on the Developer tab.) and then use the Validate data against schema for import and
export option (active by default) to specify whether Excel validates data against the XML
mapwhenexportingdata.ClickthisoptionwhenyouwanttoensurethattheXMLdatayou
exportconformstotheXMLschema.
UsingtheExcelMacroenabledOfficeXMLFormatFile
YoucansaveanExcelworkbookinavarietyoffileformats,includingtheExcelmacroenabledOffice
XML Format File (.xlsm). Excel has a defined XML schema that defines the contents of an Excel
workbook,includingXMLtagsthatstoreallworkbookinformation,suchasdataandproperties,and
definetheoverallstructureoftheworkbook.CustomapplicationscanusethisExcelmacroenabled
OfficeXMLFormatFile.Forexample,developersmaywanttocreateacustomapplicationtosearch
fordatainmultipleworkbooksthataresavedinthethisformatandcreateareportingsystembased
onthedatafound.


Chapter8
ExcelQuickTips

50QuickTips
TheExcelworkbookusedinclasstodemonstratethesequicktipscanbedownloaded
instantlyatthefollowingaddress:www.ExcelAdvisor.netPassword:2007collins
1 RightClickStatusBar(Viewsums,averages,mins,maxesimmediately)
2 CTRL+MouseScroll(Zoomin&outwithyourmouse)
3 DoubleClicktheFormatPainter(Toolsticksuntilclickedagain)
4 ReplaceFormatting(Findandreplaceoneformattingwithanother)
5 ClickonEdgeofCell(Navigateinarangeofcells)
6 TurnoffTaskPane(PutanendtoTaskPane)
7 ControlTilde(CTRL+~)(Viewunderlyingformulas)
8 IndentIcon(Indentcellsorcolumnsinstantly)
9 ALT+DownArrow(orShiftF10)(Pickfromadropdownlist)
10 F4(Repeatthelastcommandsuchasinsertrowsorchangerowheight)
11 Alt+Enter(Wraptextinstantly)
12 &(Combinetextfrommultiplecells)
13 RightClickTab,Copy,CreateCopy(Insertnewsheetwithheaders,footers,etc)
14 File,SendTo,MailRecipient(EMailaworksheet,workbookorchart)
15 ComboBoxfromFormsToolbar(Insertacombobox)
16 DoubleClickFillHandle(Copiesformuladowntherelevantrange)
17 =Upper,=Lower,=Proper(Changetextcase)
18 PasteSpecial,Values(Convertformulastonumbers)
19 F4inEditMode(ToggleAbsoluteReferences)
20 PasteSpecial,Transpose(Invertamatrixofnumbers)
21 Ctrl+D(CopyDatatothedown)
22 Ctrl+R(Copydatatotheright)
23 DefinedNames(Refertonamesratherthancelladdresses)
24 Data,AutoFilter,Advanced,Copy,Unique(Extractuniquevalues)
25 Tools,Options,Calculation,PrecisionasDisplayed(Avoidroundingerrors)
26 RightClickToolbar,Options,ShowFullMenus(Showallmenuoptions)
27 Tools,View,ZeroValues(Hidezerovalues)
28 Tools,AutoCorrect,SmartTags,None(TurnoffSmartTags)
29 FilterData,ApplyColor,UnfilterData(Colorfilteredresults)
30 PDF2XL($95productconvertsPDF'stoExcelfiles)
31 DataValidation(Insertapopupcommentintoacell)
32 Ctrl+Shft+End(Selectrowtotheright)
33 Ctrl+Shft+Home(Selectrowtotheleft)
34 F11(Produceaquickchart)
35 PrintAreainNameBox(Quicklyidentifytheprintarea)
36 DisplayingtheStylesTool(Toolbaraccesstostyles)
37 Format,Styles(Createnewstyles)
38 ControlPanel,RegionalOptions(Controlhowdatesaredisplayed)
39 =Substitute(Removeorreplaceunwantedcharacters)
40 View,SizedwithWindow(ResizescharttofitWindow)
41 Ctrl+Spacebar(Selectacolumn)

42 Shift+Spacebar(Selectarow)
43 Alt+Tab(TogglebetweenapplicationsorExcelworkbooks)
44 DeleteBlankRowsandColumns,Ctrl+S(Reducerelevantareaandscrollbar)
45 CopyFormula,toBlankCells(Fillinmissingdatainalist)
46 =ISTEXT(A1)(Usethisformulainconditionalformattingtoformattextonly)
47 Replace,Within(Tipforreplacingthroughoutentireworkbook)
48 =LEN(A1)LEN(SUBSTITUTE(A1,A2,""))(Counttheoccurrenceofacharacter)
49 =MID(A25,FIND("*",SUBSTITUTE(A25,"\","*",LEN(A25)
LEN(SUBSTITUTE(A25,"\",""))))+1,LEN(A25))(ExtracttheFilename)
50 =SumIF(Sumonlythosenumbersthatmeetspecificcriteria)
BonusTips20AdditionalExcelTips:
1. =Left
2. =Find
3. =Mid
4. =Right
5. =Len
6. Transitionturnedon
7. Moveoneditturnedoff
8. AutoCorrect
9. RenameTab
10. ColorTab
11. ReorderTabs
12. SelectMultipleTabs
13. Fixeddecimalplaces
14. TurnoffAutoCompleteTools,Options,Edit
15. EnterFormatsautomatically
16. Show50/9recentlyusedfiles
17. DefaultFileFormatTools,Options,Transition
18. EmbeddedVoiceclips
19. EmbeddedVideoClips
20. OrganizationCharts


Chapter9
WhatsNewin
Excel2007?


EnhancementstoExcel2007
1. More Columns Increased the total number of available columns in Excel from 256 (2^8) to
16,000(2^14).
2. More Rows Increased the total number of available rows in Excel from 64,000 (2^16) to
1,000,000(2^20).
3. More Memory Increased the total amount of PC memory that Excel can use from 1GB to as
muchRAMasWindowssees.
4. Dual Core Chips Office Excel 2007 supports multiple microcomputer processors and
multithreadedchipsets.
5. MoreColorsExcel2007nowsupportsupto16millioncolors,upfrom256.
6. SortbyColor.Wow!
7. MoreSortingCriteria Increasedthe numberoflevelsofsortingonarangeortablefrom 3to

64.

8. MoreCharactersinacellIncreasedthetotalnumberofcharactersthatcandisplayinacellby
32fold.Morespecifically,thislimitwasincreasedfrom1k(whenthetextisformatted)to32kor
unlimited(regardlessofformatting).
9. FindMoreitemsIncreasedthemaximumnumberofitemsfoundbyFindAllfrom65,472to
2Billion.
10. MorePivotRowsIncreasedthenumberofrowsallowedinaPivotTablefrom64kto1,000,000
(2^20).
11. Arrays Reference More Rows Eliminated the limit on the number of rows of a column or
columnsthatcanbereferredtoinanarrayformula.
12. More Conditional Formats Increased the number of conditional format conditions on a cell
from3conditionstolimitedbyavailablememory.
13. More AutoFilter Results Increased the number of items shown in the AutoFilter dropdown
from1,000to10,000.
14. PrintMoreCharactersinaCellIncreasedthenumberofcharacterspercellthatExcelcanprint
from1kto32k.
15. More Styles Increased the total number of unique cell styles in a workbook (combinations of
allcellformatting)from4,000to64,000.
16. Larger Formulas Increased the maximum length of formulas (in characters) from 1,000
charactersto8,000characters.
17. MoreFormulaNestingIncreasedthenumberoflevelsofnestingthatExcelallowsinformulas
from7to64.
18. MoreArgumentsIncreasedthemaximumnumberofargumentstoafunctionfrom30to255.
19. More Pivot Columns Increased the number of columns allowed in a Pivot Table from 255 to
16,000.
20. More Unique Pivot Items Increased maximum number of unique items within a single Pivot
Fieldfrom32,000to1,000,000.
21. More Pivot Fields Increased the number of fields (as seen in the field list) that a single
PivotTablecanhavefrom255to16,000.
22. LongerPivotNamesIncreasedlengthoftheMDXnameforaPivotTableitem;alsothestring
lengthforarelationalPivotTablefrom255charactersto32,000.
23. BetterPivotTruncationIncreasedthelengthatwhichfieldslabelsaretruncatedwhenadded
toPivotTable;thisalsoincludescaptionlengthlimitationsfrom255to32,000.

24. Better Partial Calculations Increased the number of cells that may depend on a single area
before Excel must do full calculations instead of partial calculations (because it can no longer
track the dependencies required to do partial calculations) from 8,000 to limited by available
memory.
25. MoreArrayReferencesIncreasedthenumberofarrayformulasinaworksheetthatcanrefer
toanother(given)worksheetfrom65,000tolimitedbyavailablememory.
26. Bucket More Functions Increased the number of categories that custom functions can be
bucketedintofrom32to255.
27. Better External Updates Increased the number of characters that may be updated in a non
residentexternalworkbookreferencefrom255to32,000.
28. ThemesExcelallowsuserstoformatdatabyapplyingathemeusingaspecificstyle.
29. ShareThemesThemescanbesharedacrossother2007Officereleaseprograms.Youcanalso
customizeathemestyle.
30. ChartStylesExcelofferspredefinedchartstyles,butyoucannotcreateyourownchartstyles.
31. QuickerStylesExcelnowprovidesaquickermethodtoapplyapredefinedcellstyle.
32. Better Conditional Formatting Use conditional formatting to visually annotate your data for
bothanalyticalandpresentationpurposes.
33. StrongerConditionalFormattingToeasilyfindexceptionsandtospotimportanttrendsinyour
data,youcanimplementandmanagemultipleconditionalformattingrulesthatapplyrichvisual
formattingintheformofgradientcolors,databars,andiconsetstodatathatmeetsthoserules.
Conditionalformatsarealsoeasytoapplyinjustafewclicks,youcanseerelationshipsinyour
datathatyoucanuseforyouranalysispurposes.
34. Resizable formula bar The formula bar automatically resizes to accommodate long, complex
formulas,whichpreventstheformulasfromcoveringotherdatainyourworksheet.
35. Function AutoComplete Function AutoComplete helps users write formulas using the proper
formulasyntax.
36. StructuredReferencesInadditiontocellreferences,suchasA1andR1C1,Excelnowprovides
structuredreferencestonamedrangesandtablesinaformula.
37. Easier Access to Named Ranges Excel name manager organizes, updates, and manages
multiple named ranges in a central location, which helps anyone who needs to work on your
worksheetinterpretitsformulasanddata.
38. New OLAP When you work with multidimensional databases (such as SQL Server Analysis
Services) Excel can use OLAP formulas to build complex, free form, OLAP data bound reports.
NewcubefunctionsareusedtoextractOLAPdata(setsandvalues)fromAnalysisServicesand

display it in a cell. OLAP formulas can be generated when you convert PivotTable formulas to
cell formulas or when you use AutoComplete for cube function arguments when you type
formulas.
39. Enhanced Filtering Filter data by color or by dates, display more than 1000 items in the
AutoFilterdropdownlist,selectmultipleitemstofilter,andfilterdatainPivotTables.
40. TableEnhancementsNeworimprovedfunctionalityfortablesincludesthefollowingfeatures:
a. Table Header Rows Table header rows can be turned on or off. When table headers
are displayed, they stay visible with the data in the table columns by replacing the
worksheetheaderswhenyoumovearoundinalongtable.
b. Calculated Columns A calculated column uses a single formula that adjusts for each
row. It automatically expands to include additional rows so that the formula is
immediatelyextendedtothoserows.Allthatyouhavetodoisenteraformulaonce
youdon'tneedtousetheFillorCopycommands.
c. Automatic Autofiltering AutoFilter is turned on by default in a table to enable

powerfulsortingandfilteringoftabledata.
d. Structured ReferencesThis type of reference allows you to use table column header
namesinformulasinsteadofcellreferences,suchasA1orR1C1.
e. TotalRowsInatotalrow,youcannowusecustomformulasandtextentries.
f. Table Styles You can apply a table style to quickly add designerquality, professional
formatting to tables. If an alternaterow style is enabled on a table, Excel will maintain
the alternating style rule through actions that would have traditionally disrupted this
layout,suchasfiltering,hidingrows,ormanualrearrangingofrowsandcolumns.
41. PresentationQualityChartsNewchartingtoolstocreateprofessionallookingcharts.Thenew,
uptodatelookforchartsincludesspecialeffects,suchas3D,transparency,andsoftshadows.
42. ChartThemesChartsfollowthethemethatisappliedtoyourworkbook.
43. Visual Chart Element Pickers Quickly change every element of the chart to best present your
data.Forexample,inafewclicks,youcanaddorremovetitles,legends,datalabels,trendlines,
andotherchartelements.
44. A Modern look with OfficeArt Because charts in Excel are now drawn with OfficeArt, almost
anything you can do to an OfficeArt shape can also be done to a chart and its elements. For
example, you can add a soft shadow or bevel effect to make an element stand out or use
transparencytomakeelementsvisiblethatarepartiallyobscuredinachartlayout.Youcanalso
userealistic3Deffects.
45. ClearLinesandFontsLinesinchartsappearlessjagged,andClearTypefontsareusedfortext
toimprovereadability.

46. ChartTemplatesSaveyourfavoritechartsasacharttemplate.
47. Using Excel Charts in Other Programs Charts shared between Excel, Word, and PowerPoint
nowincorporatethepowerfulchartingfeaturesofExcel,includingtheuseofformulas,filtering,
sorting,andtheabilitytolinkacharttoexternaldatasources,suchasMicrosoftSQLServerand
AnalysisServices(OLAP),foruptodateinformationinyourchart.
48. CopyingchartstootherprogramsChartscanbeeasilycopiedandpastedbetweendocuments
orfromone programtoanother.WhenyoucopyachartfromExcel toWordorPowerPoint,it
automatically changes to match the Word document or PowerPoint presentation, but you can
also retain the Excel chart format. The Excel worksheet data can be embedded in the Word
documentorPowerPointpresentation,butyoucanalsoleaveitintheExcelsourcefile.
49. Animating charts in PowerPoint In PowerPoint, you can more easily use animation to
emphasize data in an Excelbased chart. You can animate the entire chart or the legend entry
andaxislabels.Inacolumnchart,youcanevenanimateindividualcolumnstobetterillustratea
specific point. Animation features are easier to find and you have a lot more control. For
example,youcanmakechangestoindividualanimationsteps,andusemoreanimationeffects.
50. NewPivotTableControlsNewPivotTablecontrolsprovidebetterdraganddropzonetargets.
51. NewPivotTableFeaturesNeworimprovedfeaturesareprovidedtosummarize,analyze,and
formatPivotTabledata.
52. Using Undo in PivotTables You can now undo most actions that you take to create or
rearrangeaPivotTable.
53. Plus and Minus DrillDown Indicators These indicators are used to indicate whether you can
expandorcollapsepartsofthePivotTabletoseemoreorlessinformation.
54. SortingandfilteringSortingisnowassimpleasselectinganiteminthecolumnthatyouwant
tosortandusingsortbuttons.YoucanfilterdatabyusingPivotTablefilters,suchasdatefilters,
labelfilters,valuefilters,ormanualfilters.
55. Conditional formatting You can apply conditional formatting to an Office Excel 2007 Pivot
Tablebycellorbyintersectionofcells.
56. PivotTablestyleandlayoutJustlikeyoucanforExceltablesandcharts,youcanquicklyapplya
predefinedorcustomstyletoaPivotTable.AndchangingthelayoutofaPivotTableisalsomuch
easiertodointhenewuserinterface.
57. PivotCharts Like PivotTables, PivotCharts are much easier to create in the new user interface.
All of the filtering improvements are also available for PivotCharts. When you create a
PivotChart,specificPivotCharttoolsandcontextmenusareavailablesothatyoucananalyzethe
datainthechart.Youcanalsochangethelayout,style,andformatofthechartoritselements
the same way that you can for a regular chart. In Office Excel 2007, the chart formatting that

youapplyispreservedwhenyoumakechangestothePivotChart,whichisanimprovementover
thewayitworkedinearlierversionsofExcel.
58. QuickConnectionsToExternalDataInOfficeExcel2007,younolongerneedtoknowtheserver
ordatabasenamesofcorporatedatasources.Instead,youcanuseQuickLaunchtoselectfrom
alistofdatasourcesthatyouradministratororworkgroupexperthasmadeavailableforyou.A
connection manager in Excel allows you to view all connections in a workbook and makes it
easiertoreuseaconnectionortosubstituteaconnectionwithanotherone.
59. New File Formats XmlBased File Format In 2007 Microsoft Office system, Microsoft is
introducing new file formats for Word, Excel, and PowerPoint, known as the Office Open XML
formats.Thesenewfileformatsfacilitateintegrationwithexternaldatasources,andalsooffer
reduced file sizes and improved data recovery. In Office Excel 2007, the default format for an
ExcelworkbookistheOfficeExcel2007XMLbasedfileformat(.xlsx).OtheravailableXMLbased
formats are the Office Excel 2007 XMLbased and macroenabled file format (.xlsm), the Office
Excel2007fileformatforanExceltemplate(.xltx),andtheOfficeExcel2007macroenabledfile
formatforanExceltemplate(.xltm).
60. OfficeExcel2007binaryfileformatInadditiontothenewXMLbasedfileformats,OfficeExcel
2007 also introduces a binary version of the segmented compressed file format for large or
complex workbooks. This file format, the Office Excel 2007 Binary (or BIFF12) file format (.xls),
canbeusedforoptimalperformanceandbackwardcompatibility.
61. Compatibility with earlier versions of Excel You can check an Office Excel 2007 workbook to
seeifitcontainsfeaturesorformattingthatarenotcompatiblewithanearlierversionofExcel
so that you can make the necessary changes for better backward compatibility. In earlier
versionsofExcel,youcaninstallupdatesandconvertersthathelpyouopenanOfficeExcel2007
workbook so that you can edit it, save it, and open it again in Office Excel 2007 without losing
anyOfficeExcel2007specificfunctionalityorfeatures.
62. PageLayoutViewTheNormalviewandPageBreakPreviewview,OfficeExcel2007providesa
PageLayoutView.Youcanusethisviewtocreateaworksheetwhilekeepinganeyeonhowit
will look in printed format. In this view, you can work with page headers, footers, and margin
settings right in the worksheet, and place objects, such as charts or shapes, exactly where you
want them. You also have easy access to all page setup options on the Page Layout tab in the
newuserinterfacesothatyoucanquicklyspecifyoptions,suchaspageorientation.It'seasyto
seewhatwillbeprintedoneverypage,whichwillhelpyouavoidmultipleprintingattemptsand
truncateddatainprintouts.
63. Saving to PDF and XPS formatYou can save as a PDF or XPS file from a 2007 Microsoft Office
systemprogramonlyafteryouinstallanaddin.
64. UsingExcelServicestoshareyourworkIfyouhaveaccesstoExcelServices,youcanuseitto
share your Office Excel 2007 worksheet data with other people, such as executives and other
stakeholders in your organization. In Office Excel 2007, you can save a workbook to Excel
Services and specify the worksheet data that you want other people to see. In a browser, they
can then use Microsoft Office Excel Web Access to view, analyze, print, and extract this
worksheet data. They can also create a static snapshot of the data at regular intervals or on

demand.OfficeExcelWebAccessmakesiteasytoperformactivities,suchasscrolling,filtering,
sorting,viewingcharts,andusingdrilldowninPivotTables.YoucanalsoconnecttheExcelWeb
Access Web Part to other Web Parts to display data in alternative ways. And with the right
permissions,ExcelWebAccessuserscanopenaworkbookinOfficeExcel2007sothattheycan
use the full power of Excel to analyze and work with the data on their own computers if they
have Excel installed. Using this method to share your work ensures that other people have
access to one version of the data in one location, which you can keep current with the latest
details. If you need other people, such as team members, to supply you with comments and
updated information, you may want to share a workbook the same way that you did in earlier
versionsofExceltocollecttheinformationyouneedbeforeyousaveittoExcelServices.
65. Using Document Management Server Excel Services can be integrated with Document
Management Server to create a validation process around new Excel reports and workbook
calculationworkflowactions,suchasacellbasednotificationoraworkflowprocessbasedona
complex Excel calculation. You can also use Document Management Server to schedule nightly
recalculationofacomplexworkbookmodel.
66. Quick Access To More Templates In Office Excel 2007, you can base a new workbook on a
variety of templates that are installed with Excel, or you can quickly access and download
templatesfromtheMicrosoftOfficeOnlineWebsite.


WhatsMissinginExcel2007?
WhileitmayappearthatthereisalotofstuffmissinginExcel2007comparedtothe2003edition,
almosteverythingisstillthereyoujustmayneedtolookforitawhiletofindit.Afewofthehard
tofindthingsIhadtroublelocatedwereasfollows:
1. The Create PivotTable from Multiple sources feature is gone from the insert PivotTable
menu, but you can still find it by customizing your QuickLaunch toolbar and adding the
PivotTableandChartWizardicon.Yuwillseethatthisfunctionalityisstillthere.
2. The ability to send a worksheet as body of email is also gone from the Start, Send, Email
option. but you can still find it by customizing your QuickLaunch toolbar and adding the
SendtomailRecipienticon.Youwillseethatthisfunctionalityisalsostillthere.
3. ThedataFormtoolisstillthereyouhavetoaddFormtotheQuickAccessToolBar.
4. TheSpeakCellscommandismissing fromtheribbons,butthis commandisstillavailable

bycustomizingtheQuickLaunchtoolbarandaddingtheSpeakCellscommand.
5. Infactthereareatotalof219commandsinExcelthatdonotappearontheExcelRibbon
you can view a complete list of these commands by customizing the Quick Launch Toolbar
andchoosingtheoptiontoviewCommandsNotintheRibbon.
However,therearesomethingsthathavedisappearedasfollows:
1. Nomorepublishinginteractivewebpages.
2. EmbeddedvideoclipsandsoundclipsnolongerplaywithinExcel,theyswitchtheuserover
toMediaplayerinstead.
3. The AutoFormat as we knew it is gone. It has been replaced with the Format as Table
option in the Styles group of the Home tab, but it does more than format your table. It
converts your table to what Excel used to call an Excel List, complete with list arrows and
filteroptionsandallkindsofjunkyoureallydon'tneedandprobablydon'twantifyourgoal
is just to dress up your data. Unfortunately this new functionality does not apply a unique
format to subtotal rows like Excel 2003 did. Bummer. Therefore you must collapse your
rowsinOutline,selectvisiblecells,andapplyadifferentcolor,thenexpandyourrowsagain
topulloffthistypeofformat.


WhatsNewin
MicrosoftExcel2010


WhatsNewinMicrosoftOffice2010?
MicrosofthasannouncedthatitwillbeginshippingOffice2010inSpring2010.Thisbegsthe
question, whats new in Office 2010? The short answer is that there are a dozen or so
interesting improvements each in Word, Excel, PowerPoint, and Access but for the most
partOfficescoreproductsareunchanged.ThisisbecausewhenOffice2007wasreleasedin
January 2007, the new menus only appeared in 4.5 of the applications Word, Excel,
Access,PowerPointandhalfofOutlook.WithOffice2010,Microsofthasbroughttheother
applications uptodate with the newer menu style as well. Therefore dont expect to see
many differences in Word, Excel, Access, or PowerPoint. However, these are a few
improvementsOffice2010scoreproducts,asfollows:
WhatsNewinExcel2010?
1. SparklinesSparklinesaresmallcellsizedchartsthatyoucanembedinaworksheet
nexttodatatogetaquickvisualrepresentationofthedata.Forexample,ifyouhad
aworksheetthattrackedtheperformanceofseveraldozenstocks,youcouldcreate
aSparklineforeachstockthatgrapheditsperformanceovertime,inaverycompact
way.Hereisanexample:
2. Conditional Formatting Improvements Microsoft has improved and added more

stylesandiconsregardingtheabilitytoapplyaformattoarangeofcells,andthen
havetheformattingchangeaccordingtothevalueofthecellorformula.
3. Improved Sharing As with all of the Office 2010 applications, Excel 2010 has new
and improved tools for sharing data with other people, including multiple people
workingonadocumentatatime.
4. Millions of Rows Microsoft now offers Project Gemini addon for Excel 2010 that
canhandleverylargeamountsofdataevenworksheetsthatincludehundredsof
millionsofrows.ItwillshipaspartofSQLServer2008R2inthefirsthalfof2010;a
communitytechnologypreviewwillbeavailableinthesecondhalfof2009.
5. Enhanced Ribbon Toolbar The Ribbon tool bar has been enhanced to be highly
customizablenow.

6. Compatibilityof.xlsxInExcel2007,MicrosoftintroducedanewXMLformat(.xlsx)which
wasnotcompatiblewithformer.xlsspreadsheetformats.Thisproblemhasbeenresolved
Excel files created in Excel 2010 may easily be opened in versions of Excel prior to Excel
2007. Now Excel 2010 will save files just as safe as the former Excel 2007, and the
spreadsheetsizeis75%smallerthantheold.XLSversion.
7. Protected Mode Each time you download a document , Microsoft Office 2010
automaticallyopensitinProtectedModewhichmeansthatExcelwillnotallowyoutoedit
the documents unless document editing is enabled. To do this, click the Enable Editing
optioninordertoenabledocumenteditingasshowninthefollowingscreenshot.
7. Slicer TheSlicerfeatureprovidesnewsliceanddicecapabilitieswithinPivotTablesthis
helpsyoudynamicallysegmentandfilterthedata.ThisfeatureislocatedontheInsertTab.

8. MacroMacrosinExcel2010nowsupportworkingwithshapes,includingcreating,moving
oreditingshapes.
9. Enhanced Chart Diagram In Excel 2010 double clicking a chart element automatically
opensthechartsformatdialogbox.
10. WebVersionofExcel2010AnewwebversionofExcel2010allowsyoutocreate,editand
save spreadsheet via your web browser directly and share them online. The web version
reportedly will be available for free to everyone who has Windows Live account. The web
versionisassameastheExcel2010ondesktop,withsomeofExcelfunctionalitydisabled.
11. 64bit version of Excel 2010 Excel 2010 is now available in a 64bit version, which means
thatitcantakefulladvantageofyourcomputers64bitmotherboardandaccessmorethan
4GBsofRAM.Theresultisevenfasterperformance.
12. Microsoft SQL Server PowerPivot for Excel Excel 2010 now includes an addin tool called
Microsoft SQL Server PowerPivot which is a Business Intelligence tool that enables you to
query multiple SQL Server databases across multiple corporate systems and web data on a
realtime basis to produce PivotTables that can be shared via SharePoint. You can try this
online at the following Virtual Labs web site:
https://cmg.vlabcenter.com/prepare.aspx?moduleid=ad3bd3e98d2b498d94fa
e41e1b09730d&ticks=633992819904236083.
13. Named Sets NamedSetshavebeenaddedtoMicrosoftExcel2010,allowsyoutocreate

yourownnamedsets.SimplylocatetheFields,Items,&SetsbuttonundertheRibbon,and
itwillallowyoutodefineyourownNamedSets.


BioforJ.CarltonCollins,CPA
ASAResearchCarlton@ASAResearch.com770.734.0950
J. Carlton Collins, CPA is a Certified Public Accountant with experience in technology,

tax, auditing, accounting systems, financial reporting, and bond financing. He is an
author, lecturer, and technology & accounting systems consultant. He has published
morethantwodozenbooks,twohundredarticles,andthousandsofwebpages.Asa
public speaker, Mr. Collins has delivered more than 2,000 lectures in 44 states and 5
countries addressing more than 500,000 business professionals, including numerous
keynote lectures at national and international conferences. Key awards include: "AICPA Lifetime Achievement
Award", "Tom Radcliffe Outstanding Discussion Leader Award", "GSCPA Outstanding Discussion Leader Award",
and"AccountingTechnologies'TopTenCPATechnologistsAward".Asaconsultant,Mr.Collinshasassisted275+
large and small companies with the selection and implementation of accounting systems. Mr. Collins has a
BachelorsdegreeinAccountingfromtheUniversityofGeorgia,isa26yearmemberoftheAICPAandtheGeorgia
SocietyofCPAs,andisalsoalicensedrealtor.
AttheUniversityofGeorgiaMr.CollinswaselectedPresidentofthePhiEtaSigmaHonorSociety,wasinitiatedinto
the BIFTAD Honor Society, was a member of Alpha Tau Omega fraternity, and served three years in the Judicial
Defender/Advocate program. At Glynn Academy High School Mr. Collins was Senior Class President, Class
Valedictorian,andreceivedaprinciplenominationtoAnnapolisNavalAcademy.Mr.Collinshasbeenmarriedfor
25yearsandhastwochildren.Hedevoteshisleisuretimetofamily,travel,tennis,fishing,snowskiing,andriding
motorcycles(dirtandstreet).Mr.Collinsispresidentofhishomeownersassociation,participatesintheGwinnett
CleanandBeautifulprogram,andvolunteersforCooperativeMinistriesfooddrive.
SelectedPositions,Awards&Accomplishments:
1. 2008and2009ChairmanoftheSoutheastAccountingShowthesouth'slargestCPAevent.
2. Recipientofthe2008TomRadcliffOutstandingDiscussionLeaderAward.
3. NamedTopTenCPATechnologistsbyAccountingTechnologiesMagazine;NamedTop100Most
InfluentialCPAsbyAccountingTechnologiesMagazineinmultipleyears.
4. Haspersonallydeliveredover1,500technologylecturesaroundtheworld.
5. Haspublished80+pagesofaccountingsoftwarearticlesintheJournalofAccountancy.
6. RecipientoftheAICPALifetimeTechnicalContributiontotheCPAProfessionAward.
7. RecipientoftheOutstandingDiscussionLeaderAwardfromtheGeorgiaSocietyofCPAs.
8. LeadauthorforPPC'sGuidetoInstallingMicrocomputerAccountingSystems.
9. Hasinstalledaccountingsystemsformorethan200companies.
10. PastChairpersonoftheAICPATechnologyConference.
11. Hasdeliveredkeynoteandsessionlecturesatdozensofaccountingsoftwareconferencesincludingseven
MicrosoftPartnerConferences,fiveSageConferences,andmultipleconferencesforEpicor,Open
Systems,ExactSoftware,SageACCPACERP,Dynamics.NAV,Dynamics.AX,SouthWare,Axapta.
12. Hasprovidedconsultingservicestomanycomputercompanies(includingCompaq,IBM,Microsoft,Apple,
Novell,Peachtree,Epicor,SageSoftware,Exact,ACCPAC,Intuit,Peachtree,GreatPlains,andothers).
AsanauditorMr.Collinshasauditedbusinessesintheareasofhealthcare,construction,distribution,automobile
dealerships, insurance, manufacturing, and general business. Mr. Collins' tax experience includes corporate,
individual, partnership, fiduciary, and estate tax planning work. In the area of finance, Mr. Collins has prepared
feasibility studies and financial forecasts for nearly 300 projects seeking more than $3 billion in startup capital,
including field work for 80 of those projects. Mr. Collins is familiar with bond issues, Medicare and Medicaid
reimbursement,andconventionalfinancingmatters.Asaconsultant,Mr.CollinsworkedwiththeentireMicrosoft
Exceldevelopmentteamcontributingmorethan500pagesofdesignimprovementsmanyofwhicharefoundin
Exceltoday.

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MicrosoftExcel

AdvisorCPE is registered with the National Association of

107 PPMT Returnsthepaymentontheprincipalforaninvestmentforagivenperiod

166 ABS Returnstheabsolutevalueofanumber

205 ROUND Roundsanumbertoaspecifiednumberofdigits

237 COUNTA Countshowmanyvaluesareinthelistofarguments

274 NORMSDIST Returnsthestandardnormalcumulativedistribution

306 BAHTTEXT Convertsanumbertotext,usingthe(baht)currencyformat

=FINDBUsethiswhenworkingwithforeigncharacterslikethese( " , " )

32. =HLOOKUP Searchesforavalueinthetoprowofatableoranarrayofvalues,andthen

37. RAND( ), RANDBETWEEN( ), ROUND( ) In Excel 2003, RANDBETWEEN is not in the

To be accurate, it was possible to sort by color in Excel 2003. To accomplish this

9. This Year vs. YeartoDate Filtering

10. Filtering Dates All date filters are

13. Above & Below Average Filtering On the

Data Subtotals Excel provides an automatic subtotaling which will automatically

5. Automatic Outlining Subtotaling automatically inserts Outlines, which is really

c. A key to understanding PivotTables is understanding the relationship between the Blank

r. PivotTablescanautomaticallycombine datafrommultiple datasources.ThePivotTabletool

b. Assign a CTRL Combination (optional) You can assign a CTRL combination

i. The shortcut key will override any equivalent default Excel

7. MoreSortingCriteria Increasedthe numberoflevelsofsortingonarangeortablefrom 3to

c. Automatic Autofiltering AutoFilter is turned on by default in a table to enable

4. TheSpeakCellscommandismissing fromtheribbons,butthis commandisstillavailable

2. Conditional Formatting Improvements Microsoft has improved and added more

13. Named Sets NamedSetshavebeenaddedtoMicrosoftExcel2010,allowsyoutocreate

J. Carlton Collins, CPA is a Certified Public Accountant with experience in technology,

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