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SEMINAR ON “EXCEL AS AUDIT TOOL”

Organised by I.T. Committee, ICAI

Hosted by Baroda Branch of WIRC of ICAI

INDEX
WORKING BETTER WITH EXCEL

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4

1.1
1.2
1.3
1.3.1
1.3.2
1.3.3
1.4
1.4.1
1.4.2
1.4.3
1.5
1.5.1
1.5.2
1.5.3
1.5.4
1.5.5
1.6
1.6.1
1.6.2
1.6.3
1.7
1.7.1
1.7.2
1.7.3
1.7.4
1.8
1.8.1
1.8.2
1.8.3
1.8.4
1.9
1.9.1
1.9.2

BASICS
RIGHT CLICK MENUS
NAVIGATION / KEY ACTIONS
NEW IN XP
TASK PANE
SMART TAGS
FUNCTION ARGUMENTS
CUSTOMIZING THE TOOLBAR
DISPLAYING NEW TOOLBARS
ADDING NEW BUTTONS TO TOOL BARS
ADDING NEW TOOL BARS
FILE HANDLING
FILE OPEN
OPENING TEXT FILES
FILE SEARCH
WORKSPACE
FILES BASED ON TEMPLATES
CELL REFERENCING
RELATIVE REFERENCE
ABSOLUTE REFERENCE
USING NAMES
RANGE NAMES
WHAT ARE RANGE NAMES
HOW TO DEFINE RANGE NAMES
WHY USE RANGE NAMES
TYPE OF RANGE NAMES
FORMATTING
NUMBER
ALIGNMENT
CUSTOM FORMATTING
CONDITIONAL FORMATTING
CUT, COPY AND PASTE
FAST COPY
LINKS TO OTHER OFFICE MODULE

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2

FUNCTIONS

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2.1
2.2
2.3
2.4

SUM
ROUND FUNCTIONS
AVERAGE
DATE FUNCTIONS

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SEMINAR ON “EXCEL AS AUDIT TOOL”
Organised by I.T. Committee, ICAI

Hosted by Baroda Branch of WIRC of ICAI

2.4.1
2.4.2
2.4.3
2.5
2.6
2.7
2.8
2.9
2.9.1
2.9.2
2.9.3
2.10
2.11
2.12
2.13
2.14

NOW
TODAY
EOMONTH (CURRENT_DATE, MONTHS)
CHARACTER FUNCTIONS
LOGICAL FUNCTIONS
IF
COUNT
LOOKUP
VLOOKUP
HLOOKUP
MATCH AND INDEX
SUMIF
SUBTOTAL
CHOOSE
OFFSET
ARRAY FORMULAS

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3

LIST MANAGEMENT

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3.1 SORT
3.2 FILTERS
3.3 OPTIONS AVAILABLE
3.3.1 DISPLAY TOP 10
3.3.2 CUSTOM
3.4 ADVANCED FILTERS
3.4.1 LIST RANGE
3.4.2 CRITERIA RANGE
3.5 FORM
3.6 PIVOT TABLE
3.6.1 SETTING UP A PIVOT TABLE
3.6.2 MANAGING A PIVOT TABLE
3.6.3 FORMATTING
3.6.4 GROUPING
3.6.5 HIDE FIELDS
3.6.6 CALCULATED FIELD AND ITEMS
3.6.7 TYPE OF SUMMARY VALUES
3.6.8 OPTIONS
3.6.9 PRESERVE FORMATTING
3.6.10 SAVE DATA WITH LAYOUT
3.7 FORM
3.8 EXTERNAL DATA
3.8.1 IMPORT DATA
3.8.2 REFRESH
3.8.3 OPTIONS
3.9 SUBTOTAL
3.9.1 INDEX COLUMN
3.9.2 FUNCTION TO BE USED
3.10 DATA VALIDATION

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SEMINAR ON “EXCEL AS AUDIT TOOL”
Organised by I.T. Committee, ICAI

Hosted by Baroda Branch of WIRC of ICAI

4

TOOLS & UTILITIES

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4.1
4.2
4.2.1
4.2.2
4.2.3
4.3
4.3.1
4.4
4.5
4.6
4.6.1
4.6.2
4.6.3
4.6.4
4.7

GOAL SEEK
SCENARIO
ADD
VIEW
SUMMARY REPORT
SOLVER
OPTIONS
FORM CONTROL
CUSTOM VIEW
PROTECTION
CELL PROTECTION
PROTECT SHEET
PROTECT WORKBOOK
ALLOW USERS TO EDIT A RANGE
SHARING

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SEMINAR ON “EXCEL AS AUDIT TOOL”
Organised by I.T. Committee, ICAI

Hosted by Baroda Branch of WIRC of ICAI

Working better with Excel

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T.SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I. Committee. ICAI 4 Hosted by Baroda Branch of WIRC of ICAI &! * A * * . 4 3 1 8 M 4 $ -! A 1 * *: " 4# $ ) -! BJJJ BJJJ 1 $ 2 $ Page 11/49 .

[Blue]-0.[Yellow]General [Green]0.T.[Yellow]General [Green]0.[Red](0.[Magenta]General (###)-### #### (###)-###### .[Red](0.00 -123 Positive only! 0 0.00).00).##0."Positive only!" 0. ICAI 3.00) 0 -0- Text Text 448254060 (44)-825 4060 431704547 (431)-704547 Page 12/49 Format text "USD" 0 #.00.00.[Blue]-0.[Black]-0.[Yellow]General [Green]0.[Blue]-0.00.00.SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I.00).00."Positive only!" [Blue]0.00. Committee.123 123 123. ' Hosted by Baroda Branch of WIRC of ICAI --! Using wrap text Particulars of assets Op WDV Additions Sales for the year Cl WDV Depreciation upto PY Depreciation Net value Net Value CY PY for CY Headers written in multiple cells Particulars of assets Op WDV Additions Sales for the year Headers written in single cell Custom format Text formatting Scaling numbers Vaidation Value Value after entered formatting 1500 USD 1500 125123456 125.00 123 Multiple formatting Telephone numbers Depreciation upto CY Net value Net Value CY PY Cl WDV Depreciation upto PY -123 (123.00. 0."Positive only!" 0.[Red](0.[Red](0.00).00 123.

T. Committee.JJ 7 !- ) 9 1 1 * $ 0 1 0 * 0 $ 0 - 1 * Page 13/49 .SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I.88% 29800 24300 5500 18. ' - ) Hosted by Baroda Branch of WIRC of ICAI -! Summarised Income and expenditure Income 35300 36100 Expenditure 25625 28200 Operating profit 9675 7900 Ratio 27.99% 39500 32000 7500 18. ICAI 3.41% 21. ! .46% Ratio > 25% 33800 24000 9800 28. H .JJ 5 * .99% Ratio > 20% & <25% Ratio < 20% .* H* $ 5 $ 5 2 6$ ' " $ E ) ' 9 2 1 " " * E - * 3 .

* 5C A 3 4 5 6 7 8 9 10 11 12 13 14 B Using Round function Round function in use C D E F G =D7 Details of Other Expenses Printing and stationery Postage and telephone Total 4400.8 13601 13600 =SUM(E7:E8) Page 14/49 =SUM(F7:F8) =ROUND(D7.SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I. Committee. ICAI Hosted by Baroda Branch of WIRC of ICAI " 2 8 2 $ 2 )" E * * 1 5.0) .4 4400 9200 4400 9200 13600.4 9200.T.

ICAI Hosted by Baroda Branch of WIRC of ICAI ! L-4 -@ > A .*( B Date 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 01-Jan-99 02-Jan-99 03-Jan-99 04-Jan-99 05-Jan-99 06-Jan-99 07-Jan-99 08-Jan-99 09-Jan-99 10-Jan-99 11-Jan-99 12-Jan-99 13-Jan-99 14-Jan-99 15-Jan-99 16-Jan-99 17-Jan-99 18-Jan-99 19-Jan-99 20-Jan-99 21-Jan-99 22-Jan-99 23-Jan-99 24-Jan-99 25-Jan-99 26-Jan-99 27-Jan-99 28-Jan-99 29-Jan-99 30-Jan-99 31-Jan-99 .SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I.T.0) 527 565 335 956 381 952 366 365 627 383 27 400 761 556 487 918 721 947 784 339 239 443 75 Page 15/49 .)*S? Example of average function C D E F G H Units generated 500 Average of units generated for each month 973 934 Jan 533 354 Feb 509 554 March 468 693 100 250 =ROUND(AVERAGE(C4:C34). Committee.

' * T L8.1) =DATE(2003. Example of Date functions Simple date entry 20-Jan-03 01-Jan-03 21-Jan-03 22-Jan-03 23-Jan-03 1/20/2003 =DATE(2003.T. .SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I. . Committee. ICAI # ( Hosted by Baroda Branch of WIRC of ICAI " # " .5CJJD 3 . LE- > * L! .UJJ # A # ) # 3+8+ 29 ! ! :) 6 .1.8.A + > .1.M .> 3.A +> T 1 8 E - * ? T LE-!> ? E ? ? * ! .1) Page 16/49 * .5J.M CJJD*J? D.

T.SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I. ICAI A 10 11 12 13 14 15 16 17 18 19 20 21 22 23 B C Related Date functions D Hosted by Baroda Branch of WIRC of ICAI E F G H =DAY(B15) 20-Jan-03 21-Jan-03 22-Jan-03 23-Jan-03 24-Jan-03 25-Jan-03 26-Jan-03 Due date Current date Day of date 20 Month of date 1 Year of date 2003 =MONTH(B17) =YEAR(B19) 31-Jan-03 15-Jan-03 No of days remaining 16 Page 17/49 =F23-F24 I . Committee.

" ". Committee.5) =LEFT(G4." ". F 5 boxes G H This is a sample text This is a sample text There are 5 boxes Length of the first string 21 Left 5 characters This Right 5 characters text 5 Character starting from 6th position is a =LEN(G4) =MID(G4.D4. *( L 3 @+ > )? L8 > > 3 * 3 * ** 3 * *( * ? 3 * <F L-.*H.6. ICAI * $ ! Hosted by Baroda Branch of WIRC of ICAI !" # L$.A$.C4. A 4 5 6 7 8 9 10 11 12 13 14 15 16 B This is There 2 -.E4) =B4&" "&C4&" "&D4&" "&E4 =RIGHT(G4.<H." ".5) =CONCATENATE(B4.A*( C)*S? L9 2 > )? .<$.5) Page 18/49 .SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I. C a Example of Character Functions D E sample text are $.T.

Committee. .)*S? . > 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Hosted by Baroda Branch of WIRC of ICAI -AE . .*( . 2-9.T.G13>=5800) FALSE =OR(C13>=1400.G13>=5500) FALSE =AND(C13>=1400.G13>=5500) TRUE =OR(C13>=1500.SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I.*( -AE * . ICAI / 7 " 3 L-AE> L.)*S? Example of AND / OR Function B C D E Sale of products across regions Product A Product B Spares Maintenance East 825 250 25 300 1400 Zones West North 750 500 300 125 30 30 300 200 1380 855 Formula entered F G South 1200 400 40 400 2040 Total 3275 1075 125 1200 5675 Result =AND(C13>=1500.G13>=5500) TRUE Page 19/49 .

Committee.IF((C29/C31)>=0.SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I."Over 10% shortfall")) Page 20/49 ."OK".T."Deficit") OK Deficit OK D E F G South 1200 400 40 400 2040 Total 3275 1075 125 1000 5475 Sales across regions Product A Product B Spares Maintenance East 825 250 25 100 1200 Zones West North 750 500 300 125 30 30 300 200 1380 855 Budget 1500 1200 Status Over 10% shortfall 900 2000 OK Up to 10% shortfall OK 34 =IF(C29>=C31."OK". ICAI Hosted by Baroda Branch of WIRC of ICAI 1 <3* * 2 3 * 3 * 3 3 2 L3 2> *( )*( L3 2> * *3> )? * * Example of If function C D A 3 4 5 6 7 8 9 10 11 12 13 14 15 16 B Simple if condition statement A 20 21 22 23 24 25 26 27 28 29 30 31 32 33 B Multiple if condition statement ?? E F G South 1200 400 40 400 2040 Total 3275 1075 125 1200 5675 Sales across regions Product A Product B Spares Maintenance East 825 250 25 300 1400 Budget 1500 Status Deficit C Zones West North 750 500 300 125 30 30 300 200 1380 855 1200 900 2000 =IF(C12>=C14."Up to 10% shortfall".9.

T.* .7 0> * * *( 9 Page 21/49 )? .7 0 +9. A > ( C)*S? L$.SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I... ICAI Hosted by Baroda Branch of WIRC of ICAI 4 $ * L$.* L$. Committee. A -> ( C)*S? 5 # .. A H9-A7> ? Example Count function in use A B C D E F G H I J K L 4 List A List B List A List B List A List B 5 45 3 45 3 45 3 6 92 92 92 7 28 ABC 28 ABC 28 8 ABC 10-Jan-96 0 10-Jan-96 0 10-Jan-96 0 9 200 #DIV/0! 200 #DIV/0! 200 #DIV/0! 10 11 Count CountA CountBlank 12 4 3 5 4 0 1 13 14 15 16 17 =COUNT(B6:B10) =COUNTA(F6:F10) =COUNTBLANK(J6:J10) 5 7 ' 49.7 0 # 5 =7++ 0 L49.

D " . ICAI ( ) $ Hosted by Baroda Branch of WIRC of ICAI 2-9. 3 * *D? 2 $ 2 L49. Committee.T.J5P 5UU * V5P 5UU* 3 " * 3 3 9 2-9. WA- A 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 B Date 01-Jan-03 02-Jan-03 03-Jan-03 04-Jan-03 05-Jan-03 06-Jan-03 07-Jan-03 08-Jan-03 09-Jan-03 10-Jan-03 11-Jan-03 12-Jan-03 13-Jan-03 14-Jan-03 15-Jan-03 3 2-9.* -.7 0> -.2..UnitsDB. * Example of Vertical Look Up C D E F G H Units Week No generated 500 1 Date 10-Jan-03 856 1 Unit Generated 703 127 1 558 1 797 1 =VLOOKUP(G5.False) 797 1 263 1 157 2 526 2 703 2 526 2 716 2 732 2 604 2 626 3 Page 22/49 .SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I.

ICAI 5 Hosted by Baroda Branch of WIRC of ICAI 27++ 0 L+9.T. 9 8 8 3 # 2 L8.$+> * *( )? 9 Page 23/49 3 9 Jun 999 197 658 703 943 43 346 .7 0> * * *( )? 9 ( 2-9. : A 4 5 6 7 8 9 10 11 12 13 14 15 B Sales Product A Product B Product C Product D Product E Product F Product G C D Example Horizontal Look Up E F G Jan Feb Mar 815 236 909 351 95 415 773 325 815 505 86 358 871 349 574 166 74 244 178 309 835 Sales for the Month of Sales of Product B H I Apr 535 665 648 957 960 269 137 J May 52 709 665 792 925 164 463 Jan 351 =HLOOKUP(F14. Committee.HLookUp!SalesData. 3 49.SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I.7 0 * 2-9.3.7 0 1 : +9.FALSE) 5 8 )< ) ....

? J? .SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I.? > > # X. ICAI Hosted by Baroda Branch of WIRC of ICAI 9 8 3 $ > $ .T. 2 3 * 3 9 # 3 L3 AE /> * # *( )? - 3 * 1 * Page 24/49 3 . Committee.

3 9 3 .T.G6) 12-Jan-03 716 2 13-Jan-03 732 2 14-Jan-03 604 2 15-Jan-03 626 3 16-Jan-03 838 3 17-Jan-03 754 3 18-Jan-03 446 3 19-Jan-03 958 3 20-Jan-03 892 3 21-Jan-03 963 3 22-Jan-03 166 4 23-Jan-03 590 4 24-Jan-03 432 4 25-Jan-03 266 4 26-Jan-03 454 4 27-Jan-03 965 4 28-Jan-03 703 4 <- . ICAI A 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 > Hosted by Baroda Branch of WIRC of ICAI Example of Lookup(Match and Index functions used) B C D E F G H Date Units Week No generated 01-Jan-03 500 1 Date 04-Jan-03 02-Jan-03 856 1 Position of match 4 03-Jan-03 127 1 Value 558 04-Jan-03 558 1 05-Jan-03 797 1 06-Jan-03 797 1 =MATCH(G5.SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I. 3 # L.Match_Ind 07-Jan-03 263 1 ex!Date. 83 2> * *( )? $ $ Page 25/49 .0) 08-Jan-03 157 2 09-Jan-03 526 2 10-Jan-03 703 2 =INDEX(Match_Index!Unit 11-Jan-03 526 2 s. Committee. 3 .

Committee. 83 2 : 3 A * B Date 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 01-Jan-03 02-Jan-03 03-Jan-03 04-Jan-03 05-Jan-03 06-Jan-03 07-Jan-03 Conventional approach C D E Units WeekNo generated 500 856 127 558 797 797 263 3898 1 1 1 1 1 1 1 08-Jan-03 09-Jan-03 10-Jan-03 11-Jan-03 12-Jan-03 13-Jan-03 14-Jan-03 157 526 703 526 716 732 604 3964 2 2 2 2 2 2 2 15-Jan-03 16-Jan-03 17-Jan-03 18-Jan-03 19-Jan-03 20-Jan-03 21-Jan-03 626 838 754 446 958 892 963 5477 3 3 3 3 3 3 3 22-Jan-03 23-Jan-03 24-Jan-03 25-Jan-03 26-Jan-03 27-Jan-03 28-Jan-03 166 590 432 266 454 965 703 3576 4 4 4 4 4 4 4 F Approach A Summary Week 1 Week 2 Week 3 Week 4 G 3898 3964 5477 3576 16915 =C11 =SUM(G5:G8) Page 26/49 .T. ICAI Hosted by Baroda Branch of WIRC of ICAI .SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I.

ICAI I 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 J Date 01-Jan-03 02-Jan-03 03-Jan-03 04-Jan-03 05-Jan-03 06-Jan-03 07-Jan-03 08-Jan-03 09-Jan-03 10-Jan-03 11-Jan-03 12-Jan-03 13-Jan-03 14-Jan-03 15-Jan-03 16-Jan-03 17-Jan-03 18-Jan-03 19-Jan-03 20-Jan-03 21-Jan-03 22-Jan-03 23-Jan-03 24-Jan-03 25-Jan-03 26-Jan-03 27-Jan-03 28-Jan-03 Hosted by Baroda Branch of WIRC of ICAI Example of Sumif K L M N O P Units Week No generated Approach B .1.SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I.T. Committee. 703 2 SumIf!UnitsGenerated) 526 2 716 2 732 2 SumIf!UnitsGenerated) 604 2 626 3 838 3 754 3 SumIf!Week 446 3 958 3 892 3 963 3 166 4 590 4 432 4 266 4 454 4 965 4 703 4 Page 27/49 .using SumIf 500 1 Summary 856 1 Week 1 3898 127 1 Week 2 3964 558 1 Week 3 5477 797 1 Week 4 3576 797 1 16915 263 1 157 2 526 2 =SUMIF(SumIf!Week.

8 44. -4 -@ $. A 8-/ 83 A 0 . A $. C D Q B K O V U .0 Page 28/49 . ICAI Hosted by Baroda Branch of WIRC of ICAI & ..J .*( C)*S? .E 4 . # L > * .E $ . Committee.SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I. # " " &! .T. E 40 .

C13:C19) 16915 =SUBTOTAL(9.C4:C38) $ $ # Page 29/49 .SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I. ICAI A 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 B Date 01-Jan-03 02-Jan-03 03-Jan-03 04-Jan-03 05-Jan-03 06-Jan-03 07-Jan-03 08-Jan-03 09-Jan-03 10-Jan-03 11-Jan-03 12-Jan-03 13-Jan-03 14-Jan-03 Hosted by Baroda Branch of WIRC of ICAI Example of Subtotal C D Units WeekNo generated 500 1 856 1 127 1 558 1 797 1 797 1 263 1 3898 =SUBTOTAL(9.C4:C10) 157 526 703 526 716 732 604 3964 2 2 2 2 2 2 2 15-Jan-03 16-Jan-03 17-Jan-03 18-Jan-03 19-Jan-03 20-Jan-03 21-Jan-03 626 838 754 446 958 892 963 5477 3 3 3 3 3 3 3 22-Jan-03 23-Jan-03 24-Jan-03 25-Jan-03 26-Jan-03 27-Jan-03 28-Jan-03 166 590 432 266 454 965 703 3576 4 4 4 4 4 4 4 Grand Total =SUBTOTAL(9.T. Committee.

g. ."Mar". ICAI L$+.Choose!Range1. # L."Apr". > 3 T * .. For e.30.SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I.Choose!Range2."Jun") =CHOOSE(index_num.10.Choose!Range3. 3 will return Range3 and this is captured into range name 'Selected' +.."May".Choose!Range4) Selected 10 20 30 40 50 Range1 1 2 3 4 5 Range2 10 20 30 40 50 Range3 100 200 300 400 500 Range4 1000 2000 3000 4000 5000 This returns a name from the list based on the value in cell A2 (Index_num).*( Hosted by Baroda Branch of WIRC of ICAI C)*S? T 4 " Example of Choose function index_num 2 20 =CHOOSE(index_num. Committee. 3 2 .22.40."Feb".50.60) Feb =CHOOSE(index_num. > * * *( )*( )? - Page 30/49 .T.22."Jan".20.

3. ICAI Hosted by Baroda Branch of WIRC of ICAI $ + - 1 1 9 + * - .3) F 1995 24 16 8 25 73 1996 31 12 11 34 88 G H 1997 28 16 12 42 98 1998 35 18 15 49 117 Range Name :Employees Value 24 =OFFSET(Employees.NoCols. Committee.0.0) 1993 =AVERAGE(OFFSET(Employees.1.T..1)) =SUM(OFFSET(Employees.3.0.1) 98 =OFFSET(Corner.4. 3 A 3 *W 2 A 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 # B Employee details Employees Sales Marketing Administration Technical Total NoRows NoCols .33333 73 =OFFSET(Employees.-1.SEMINAR ON “EXCEL AS AUDIT TOOL” Organised by I.1) #VALUE! ! ! -! > &' ? Page 31/49 .1. Example of Offset D E C 1993 19 4 5 19 47 1994 23 9 7 31 70 Range name :Corner 2 4 Formula =OFFSET(B3.2.1)) 33.

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