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Microsoft Excel

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Excel Formatting Rules §Numbers greater than 999 should be formatted to display a comma. §Use a consistent number of decimal places for all numbers containing decimals. If any currency values on a spreadsheet display cents (more than 0 cents), then all currency values on a spreadsheet should be formatted to display 2 decimal places. §Right-align columns of numbers. Never left-align columns of numbers. §Labels should be directly over the numbers that they describe. Move the label so that it is directly over the numbers it describes. NEVER move the numbers so that they are under the label. §Currency values need to display with a $ sign using the currency style (and not accounting style which happens when you click the $ sign button). §Create formulas using cell references whenever possible. Don’t hard-code your formulas using real numbers. Creating formulas using cell references lets you create the interactive formula, so that when you change the contents of one cell, the formula result will automatically adjust itself.

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§Relative vs Absolute vs Mixed Cell References l If a cell, column or row is common to several formulas, you can lock it down with the $ sign so that cell, column or row does not change when the formula is copied to a new location $A$1 or$A1or A$1 §Parenthesis are used to specify that you want to “do this operation first.” §It is best not to type in your Excel functions straight from the keyboard (unless you know EXACTLY what is required and how it should be entered. It is best to use the Function Wizard to insert Excel functions.

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Excel Functions §PMT: Used to calculate the periodic payment on a loan (car loan, home loan) l Most payments are made monthly. l PMT function requires three arguments Interest rate per period (annual rate divided by 12 for monthly rate) NPER: number of payment periods (# of yrs * 12 months/year) Amount of the loan (entered into the function as a negative number so your function result ends up positive)

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Excel Functions §The IF function is used in spreadsheet decision making, and it requires 3 arguments. l The condition being tested for (the cell and the actual test) l What to do if the condition is true l What to do if the condition is false l It yields one result if the condition is true, and a different result if the condition is false.

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§The VLOOKUP function determines where within a specified table, a value (either numeric or text) is found, and then it retrieves a entry from the table that corresponds to the value, and it requires 3 arguments. l The value to be looked up l The table range where that value can be found l The column containing the corresponding value. Entered as a number (2,3, etc.) in your functio n When creating the table used by your VLOOKUP, the table value breakpoints (in the first column) should be arranged in alphabetical order or low number to high number order.

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Microsoft Excel

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Referencing with Multiple Sheets §Cell reference on the same sheet -- A1 §Referring to cells on another sheet l QUARTER1!A1 l ‘Quarter One’!A1 (if more than one word in name) §You can also refer to another sheet or another file within a function l =VLOOKUP($D5, Contributors'!$A$2:$E$44,2) l =VLOOKUP($D5, [CList.xls]Contributors'!$A$2:$E$44,2) §The easiest way to create formulas like this is to Point and Click! Don’t type them in!

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§The VLOOKUP function determines where within a specified table, a value (either numeric or text) is found, and then it retrieves a entry from the table that corresponds to the value, and it requires 3 arguments. l The value to be looked up l The table range where that value can be found l The column containing the corresponding value. Entered as a number (2,3, etc.) in your functio n When creating the table used by your VLOOKUP, the table value breakpoints (in the first column) should be arranged in alphabetical order or low number to high number order.

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§Numerical Average: If there are XX items, add XX items together, and then divide by XX (won’t use in assignment) §Weighted Average: Items with more weight make up a bigger part of the average (will use: weights should appear as cell references) l (.1*100) + (.15*98)+(.75*40) = 54.7 §Parenthesis are used to specify that you want to “do this operation first.” l Formulas and functions can appear in parenthesis §IF statements are used to allow decision making in a spreadsheet. §Use the “real” currency style to format currency, and not the currency style button (which is really accounting style). §Creating a worksheet group allows you to apply a common format or feature to several worksheets at the same time. Be careful when you use this feature. If you are not careful, you can multiply errors or bad formulas across several sheets. Sometimes, creating a worksheet group makes sense. In other cases, you might want to avoid it. I recommend using a worksheet group to format items, while formulas are made on a sheet-to-sheet basis (not using groups). §When using these features, PAY CLOSE ATTENTION TO DETAIL AND TAKE YOUR TIME.

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Microsoft Excel

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Excel Lists §A common use of a spreadsheet is to manage lists of data. Excel lists can be used to replicate a database (each column in Excel is a field, and each row is a record) l Create a list range l Sort data (primary sort key, secondary sort key, third sort key) l AutoFilter lets you search for exact matches (like Access Filters). l Custom AutoFilter lets you search using complex criteria (just like queries in Access) l Conditional formatting highlights information that meets the criteria you specify. When viewing all of the data, certain items are brought to your attention by the use of conditional formats. (so you need to sort your data prior to applying subtotals). §Excel can summarize data in a list by inserting subtotals (sums, counts, averages, maximums, minimums) for groups of data in a list. A subtotal is inserted when a specified field changes (so you need to sort your data prior to applying subtotals). Have students Open Word

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Pivot Tables §Excel lists often contain a wealth of information, but because there is so much detailed data present, it is often difficult to form a clear overall view of the information. §A Pivot Table is an interactive report that enables you to group and summarize an Excel list into a concise table format for easier reporting and analysis. l Can be used to summarize data into different categories using functions such as COUNT, SUM, AVERAGE, MAX, and MIN.

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Pivot Tables §To generate a Pivot Table, you can specify the dimensions by which you wish to view the data (one factor or multiple factors), which allows you to see relationships in the data. §Using the data fields, you specify l What field is to be used to create row items l What field is to be used to create column headings. l What field or fields are to be used data area/data items l Report Filters (Page fields) can be used to filter the Pivot Table

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Pivot Tables can help you see relationships in the data

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Pivot Tables need to be formatted §Labels and numbers need to be in alignment §Columns need to be narrower §Numbers should be properly formatted ($, decimals, commas, etc.) §You can even change the mathematical operation used and the label text that is displayed.

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Pivot Tables can help you see relationships in the data

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Pivot Tables can help you see relationships in the data. If you want to take a picture of what is on your computer screen, use the PrtScn button (typically found on the top row of your keyboard) and then

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§Report Filters (Page fields) can be used to filter the Pivot Table

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Multi-factor Pivot Tables use multiple data fields I want to see the average amount purchased, the average number in the household and the average number of purchases made by each household, by region and “rent vs own” (multiple factors) Pivot Tables can help you see relationships in the data Don’t hand in something like this. It looks BAD and is hard to read.

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§Select what you want to move (Values), right-click, select “Move Values to” and you want to “Move Values to Rows” When moving values to rows, ALWAYS MOVE THE DATA POINTS (found before the “by” statement). The words after the “by” statement should not be moved because they form the basis of your rows and columns.

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Microsoft Excel

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§I am not teaching how to make a spreadsheet. It is assumed that you can already do that. §My focus is on how a spreadsheet is used in a business environment. Business problem-solving §Our emphasis in Excel l Building formulas and using Excel functions VLOOKUP, IF, PMT FV, and others Relative, absolute and mixed cell references l Multiple worksheets and the formulas that go between them l Decision Making in Excel What-if Analysis Pivot tables, Filtering Excel lists, conditional formatting

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Spreadsheets as a Decision Support System §A spreadsheet can serve as a decision support system for a business. l Its analysis/results can be used to make a decision or make a better decision. l Managers use this tool. Guides you and assists you, but you have to know how to use the tool. You have to know what you are doing, what needs to be done, how to set up the model mathematically, when something is not right, and you have to make the final decision. §Perform What-If Analysis l Change one assumption -- See the effect on the entire spreadsheet

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Formulas §Used to perform mathematical calculations §Must begin with an = §Use normal algebraic rules l Evaluate whatever is in parentheses first l Then, perform multiplication and division l Then perform addition and subtraction l Formulas are always evaluated from left to right. §Formulas should be created using cell references whenever possible. Avoid real numbers in your formulas. Spreadsheet should be totally interactive. Formula

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Relative/Normal Cell References When copied, references adjust RELATIVE

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Absolute Cell Reference §Do not adjust when copied, it will always refer to the same cell, column or row. §Add $ before row and column - l $A$4 = locks in cell l $A4 = lock column, row varies l A$4 = locks row, column varies §Easy way to make an absolute reference, click on reference, press F4 key §Save time by allowing copying of complex formulas ABSOLUTE

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§Development activities for creating effective worksheets l Build the worksheet l Enter labels l Enter the data (the values, formulas, and functions) l Format the worksheet l Verify/test the worksheet to make sure everything works. §Order of precedence for mathematical operations l * 4 = 14 l (2 + 3) * 4 = 20 l 2 * 2 ^ 2 = 8 l (2 * 2) ^ 2 = 16

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Relative and Absolute References §Excel automatically changes a relative cell reference, such as B8, when a formula containing it is copied (down to become B9 or across to become C8). To convert this to an absolute reference, which does not change when copied to another location, each element that you don’t want to change must be preceded by a $. Therefore, the relative reference B8 becomes an absolute reference when it is changed to $B$8, and when it is copied, it never changes. By contrast, $B8 and B$8 are mixed references. In the first example, the column is fixed and the row is relative (it change adjust). In the second example, the row is fixed and the column is relative (it can adjust). Copying down would yield $B9 and B$8, while copying across would yield $B8 and C$8. Understanding this concept is fundamental to understanding how to structure formulas and functions which will be copied. Without this understanding, students will constantly get incorrect results and have to re-enter their formulas and functions.

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Excel Functions §VLOOKUP: used to look up an item in a table and it returns its price, discount %, or other form of result. §IF: checks a cell. Does one thing if the test is true, and it does something else if the test if false. §PMT: Used to calculate yearly and monthly loan payment amounts.

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Excel Formatting Rules §Numbers greater than 999 should be formatted to display a comma. §Use a consistent number of decimal places for all numbers containing decimals. §Right-align columns of numbers. Never left-align columns of numbers. §Labels should be directly over the numbers that they describe. Move the label so that it is directly over the numbers it describes. NEVER move the numbers so that they are under the label. §Currency values need to display with a $ sign. If any currency values on a spreadsheet display cents (more than 0 cents), then all currency values on a spreadsheet should be formatted to display 2 decimal places. §Create formulas using cell references whenever possible. Don’t hard-code your formulas using real numbers. Creating formulas using cell references lets you create the interactive formula, so that when you change the contents of one cell, the formula result will automatically adjust itself.

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The End

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Functions §Used to perform common/complex calculations §Use the following standard format: =NAME(arguments) §Arguments can be l Numbers l Cell References l Formulas

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COMMON FUNCTIONS §SUM Function: Adds things together l Individual Numbers =SUM(4,5,6) l Specific Cells =SUM(A1,C10,D4) l A range of Cells =SUM(A1:A5) §Financial =PV(rate, nper, pmt, fv) Computes the present value of a series of future payments =PMT(rate,nper,pv,fv) Calculates a payment amount for a loan or mortgage based on a constant interest rate and number of periods. Sum

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COMMON FUNCTIONS §Reference Vlookup(lookup_Value,Table_Array, Column_Index_Value) 1. Specify a value to look up 2. Specify the table where that value can be found. 3. Specify the column where the result can be found. §Logical =IF(condition, value if true, value if false) Specify a condition, what to happen if true, and what to happen if false.

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Rounding vs Formatting =ROUND(number, number of places) §Formatting only changes the appearance of cell contents. §Rounding actually changes the values in the cells.

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Formatting Cells §Column Widths l Rather than extending across several columns, widen columns to fit text l Widen columns by dragging the right border of the column title (or double clicking it to widen to fit). §Numbers = MUST USE CONSISTENT FORMATS l Consistent Number of Decimal Places l Commas Consistent negative number format l Align Decimals

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Formatting Cells, Continued §Borders l Use in financial reports, draw lines §Alignment l Left, Right,Center l Center Across Selection §Bold, Italic, Fonts §Color should be used to indicate data entry areas or values that might change.

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Working with Sheets §Copying Sheets §Naming Sheets §Moving Sheets

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Referencing with Multiple Sheets §Cell reference on the same sheet -- A1 §Referring to cells on another sheet l QUARTER1!A1 l ‘Quarter One’!A1 (if more than one word in name) §You can also refer to another sheet or another file within a function l =VLOOKUP($D5, Contributors'!$A$2:$E$44,2) l =VLOOKUP($D5, [CList.xls]Contributors'!$A$2:$E$44,2) §The easiest way to create formulas like this is to Point and Click! Don’t type them in!

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Charts and Graphs §Great way to present information in an easy-to-understand format. §Chart Types l PieLineBar or Column Chart l 3-D Enhancement CONTROL KEY §Use the CONTROL KEY to select ranges of data that are not side-by-side.

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§I am not teaching how to make a spreadsheet. It is assumed that you can already do that. §My focus is on how a spreadsheet is used in a business environment. Business problem-solving §You must know to properly design and FORMAT a spreadsheet for business applications l AlignmentBorders l Number formats: commas, decimal places l SpellingData entry areas l ChartsProper formula construction l Column widthsAppropriate print formats l Attention to Detail: Be Careful: Think

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Most students know HOW to format a spreadsheet. The problem is that most students don’t know WHEN to format, or they fail TO RECOGNIZE when a formatting problem has occurred.

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Designing Good Spreadsheets §Computations should always be performed using formulas, functions and/or cell references! §Outputs should be Easy to Read l Titles l Appropriate Formatting §It should be easy to Update/Change §Test out your spreadsheet to make sure that your results make sense.

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Your Spreadsheets should pass the “Reasonableness Test.” §Do your answers make sense in a real-world business setting? l Taxes Subtract your income tax to find out your income after taxes. Add your sales tax when purchasing goods. l Does it make sense for a portfolio of stocks and bonds to make or lose lots of money from one day to the next? l After you have paid off a loan, does it make any sense for you to still owe money, or get money back (refund)? l Is your percentage for a change from one year to the next realistic? Is a 1,000% change realistic?

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Using A Data Entry Area §What? l An area where all the values used in the spreadsheet (especially those likely to change) are entered. l Cells in the output area reference these cells §When? l The spreadsheet will be used over and over Monthly/Weekly/Daily Reports What-If Analysis l The spreadsheet will be used by someone who doesn’t understand the calculation or spreadsheets DEA#1

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Rules for Data Entry Area §Include Directions §Clearly describe what information is needed l Dollars, Units? l Avoid Abbreviations l Additional Directions if needed §Clearly identify where the information should be put §Format Data Entry Cells Appropriately so that information looks nice when entered. DEA#2

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Printing §Portrait versus Landscape §For this class l The printout of a spreadsheet fits on 1 page l Your Name needs to appear as a footer on EACH sheet/printout that you make. §Display/Print formulas l Go to the Tools menu, select Options Print

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Proper Formula Construction §Don’t type in all of your formulas and cell references from the keyboard. The easiest way to create formulas is to Point and Click them in! Let Excel create the formulas for you. Don’t type them in! §Formulas should be created using cell references whenever possible. Avoid real numbers. Spreadsheet should be totally interactive.

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Excel Functions §ROUND: rounds a number or formula to a specified number of digits. §VLOOKUP: used to look up an item in a table and it returns its price, discount %, or other form of result. §IF: checks a cell. Does one thing if the test is true, and it does something else if the test if false. §PMT: Used to calculate yearly and monthly loan payment amounts. §Always keep your labels and their related numbers in alignment. Move the label, not the numbers.

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Rounding vs Formatting §Formatting only changes the appearance of cell contents. What you see many not actually be there l March 31 vs March 31, 1999 vs 3/31/99 §Rounding actually changes the values in the cells. What you see in the cell is what is really there.

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§I wish to display my formulas in Excel. What menu and options within that menu do I choose? l Tools Menu, Select Options, Select the View Tab, place a checkmark next to Formulas §Add / SubtractMultiply / Divide §Evaluate Left-to-Right Evaluate Items in Parenthesis l Evaluate Items in Parenthesis first l Next, do all of your multiplication and division l Next, do all of your addition and subtraction l Within equal operations, evaluate your formulas from left to right

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Excel Functions §PMT: Used to calculate the periodic payment on a loan (car loan, home loan) l Most payments are made monthly. l PMT function requires three arguments Interest rate per period (annual rate divided by 12 for monthly rate) NPER: number of payment periods (# of yrs * 12 months/year) Amount of the loan (expressed as a negative number) §FV: Returns the future value of an investment based on constant payments and a constant interest rate (investments) §Goal Seek: allows you to set a desired end result. Tells you what a variable must equal to get that desired result

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