1 Excel's Golden Rule. (Dan Bricklin and Bob Frankston).

Excel's Golden Rule: If formula input data can change, put it in cell and refer to it with cell references. If data will not chan

2 Formula Elements.
1 Equal sign (starts all formulas).
2 Cell references (also defined names, sheet references, workbook references, table nomenclature).
3 Math operators.
4 Numbers (if the number will not change; for example, 12 months, 24 hours).
5 Functions (IF, MATCH, INDEX, COUNTIF, and so on).
6 Function argument elements (such as a 0 in the third argument of MATCH to tell function to do an "Exact Match" l
7 Comparative operators.
8 Join operator: Ampersand (join symbol: &).
9 Text within quotation marks (for example, "For the Month Ended").
10 Array constants (for example, {1,2,3}).

3 Math Operators.
+ Adding.
- Subtracting or Negation.
* Multiplying.
/ Dividing.
^ Raising to an exponent.
() Parentheses.

4 Comparative Operators.
= Equal: are two things equal?
<> Not: are two things not equal? Type less than symbol, then greater than symbol.
> Greater than: is the thing on the left greater than the thing on the right?
>= Greater than or equal to: is the thing on the left greater than or equal to the thing on the right?
< Less than: is the thing on the left less than the thing on the right?
<= Less than or equal to: is the thing on the left less than or equal to the thing on the right?

5 Types of Formulas.
1 Calculating Formulas that calculate a number answer (like adding)
2 Logical Formulas that give you a logical value, either TRUE or FALSE (like formulas that say whether two accounts a
3 Text Formulas that deliver a word to a cell or create labels for reports (like a label for a loan payment).
4 Lookup Formulas that look up an item in a table (like looking up a price for a product).
5 Array Formulas are advanced formulas that act on arrays (ranges) instead of individual cell references, or formulas
Array formulas can deliver results that are calculating, logical, text, or lookup.

6 How Formulas Calculate: Order of Precedence in Excel.

1 Parenthesis ( )
2 Reference Operators: colon, space, comma
Example of colon in range of cells: =SUM(A1:A4)
Example of intersection operator: =E12:G12 F10:F15 (retrieve what is in F12)
Example of comma (union): =SUM(E10:G10,E14:G14)
 3 Negation (-)
Example: = -2^4 = 16
Example: = -(2^4) = -16
Example: --2+1 = 3
4 Converts % (1% to .01)
5 Exponents (^)
Example: 4^(1/2) = 2
Example: 3^2 = 9
6 Multiplication (*) and Division (/), left to right
7 Adding (+) and Subtracting (-), left to right
8 Ampersand (&)
9 Comparative symbols: =, <>, >=, <=, <, >

7 Number Formatting is a Façade.

1 What you see on the face of the spreadsheet can be different from the underlying number in the cell.
2 There can be a disconnect between what you see in a cell with your eyes and what is actually stored in the cell as c
3 Calculations are made upon the underlying number, not the Number Format that you see on the face of the spre
Example: You can use the Decrease Decimal button to show fewer decimals, but that does not remove the decim
Example: Dates such as 12/1/2012 are serial numbers.
You "see" 12/1/2012 on the face of the spreadsheet, but the serial number 41,244 is what is actually in the ce
Formulas calculate upon the underlying serial number 41,244, not the date 12/1/2012.

8 Default Alignment in Excel.

1 Text is to LEFT. Excel is fun
2 Numbers are to RIGHT. 43
3 Logical values are CENTER. 1
4 Error values are CENTER. #DIV/0!

15 formula examples of formula elements and formula types.

Ex 1 Type of Formula:
Calculating.
Formula Elements:
Equal sign, cell reference, math operator, number.
Annual Insurance $10,500.00
Monthly Allocation Number aligned RIGHT

Note:
* Because the number $10,500.00 can change, we put it in a cell and make formulas that refer to it with cell refere
* Because the number 12 will not change, we type it directly into the formula.

Ex 2 Type of Formula:
Calculating.
Formula Elements:
Equal sign, cell reference, math operator, number.
Amount $25,256.00
 Tax (inefficient formula) Formula you do not want to create: =D90*0.125

Label AND put variable formula input into cell (Golden Rule)
Tax Rate 0.125
Tax (inefficient formula) Efficient formula: =D90*D94

Ex 3 Amount Invested $100.00

Interest Rate 5%
Tax Rate 25%
Net Cash In From Interest Revenue Efficient formula: =D97*D98*(1-D99)
Inefficient: =D97*0.05*(1-0.25)
Even More inefficient: =D97*0.0375
Ex 4 Type of Formula:
Calculating.
Formula Elements:
Equal sign, cell reference, math operator, built-in function, range of cells.

Revenue $60,000
Administrative Expense $18,360
Operational Expenses $32,088
Other Expenses $312
Net Income Number aligned RIGHT

Ex 5 Type of Formula:
Logical.
Formula Elements:
Equal sign, cell reference, comparative operators (equal sign).
DR CR
322.00 322.00 Ctrl + Shift + ~
172.01 172.01
144.10 144.10 In Balance?
638.11 638.11

Note:
* Formulas calculate upon the underlying numbers.
* Number Formatting (Decreasing Decimals) does not remove the "unseen" decimals.
* In this way, formulas can better analyze a spreadsheet than a person can be just "eyeing it".

Ex 6 Type of Formula:
Text.
Formula Elements:
Equal sign, cell reference, ampersand, text in quotes.
First Last First & Last
Bill Jelen
Joe Smith
 Sioux Franks
Bob Chin
Luong Girvin

Ex 7 Type of Formula:
Calculating.
Formula Elements:
Equal sign, COUNTIF function, range of cells, cell reference.
Hurdle >350
# of Sales Greater Than 350 Also: SUMIF and AVERAGEIF

Sales
$312.00
$295.00
$294.99
$675.00
$452.00
$195.00

Ex 8 Type of Formula:
Calculating.
Formula Elements:
Equal sign, COUNTIF function, range of cells, comparative operator in quotes, ampersand, cell reference.
Hurdle 475
# of Sales Greater Than 475

Sales
$312.00
$295.00
$294.99
$675.00
$452.00
$195.00

Ex 9 Type of Formula:
Calculating.
Formula Elements:
Equal sign, SUMIFS function, range of cells, cell reference.
SUMIFS to add with two criteria.
SalesRep Product Total Units
Chelia Product 1

Date SalesRep Product Units

9/21/2013 Sioux Product 1 1772
9/24/2013 Sioux Product 2 1270
 9/24/2013 Phil Product 1 1335
9/22/2013 Phil Product 2 1897
9/23/2013 Chelia Product 1 1062
9/24/2013 Sioux Product 1 581
9/23/2013 Chelia Product 1 383
9/24/2013 Sioux Product 2 601

Ex 10 Type of Formula:
Calculating.
Formula Elements:
Equal sign, SUMIFS function, range of cells, cell reference.
SUMIFS to add between 2 dates.
Lower Upper Total Units
>=9/22/2013 <=9/23/2013
9/22/2013 9/23/2013
1000 1500

Date SalesRep Product Units

9/21/2013 Sioux Product 1 1772
9/24/2013 Sioux Product 2 1270
9/24/2013 Phil Product 1 1335
9/22/2013 Phil Product 2 1897
9/23/2013 Chelia Product 1 1062
9/24/2013 Sioux Product 1 581
9/23/2013 Chelia Product 1 383
9/24/2013 Sioux Product 2 601

Ex 11 Type of Formula:
Calculating.
Formula Elements:
Equal sign, NETWORKDAYS.INTL, Absolute & Relative cell references, function argument element.
F4 key toggles between the four types of basic cell references
Start Date for Project End Date Workdays
9/17/2013 10/12/2013
9/27/2013 10/1/2013
10/1/2013 10/12/2013
10/1/2013 10/28/2013
10/15/2013 10/22/2013
10/28/2013 11/15/2013

Ex 12 Type of Formula:
Calculating.
Formula Elements:
Equal sign, mixed cell references, math operator.
Jan Feb Mar
 Revenue $55,900 $62,500 $64,500
COGS
Operating Expenses
Administrative Expenses
Tax Expense

Assumptions (Formula Inputs) Excel Cell References 15 Examples For

COGS 45% http://www.youtube.com/watch?v=_
Operating Expenses 19%
Administrative Expenses 4%
Tax Expense 20%

Note:
* Understanding and using mixed cell references has two advantages: 1) Formula creation time can be reduced,
2) Some advanced Excel techniques can only be done with mixed cell references (example: conditionally formatti

Ex 13 Type of Formula:
Lookup Formula.
Formula Elements:
Equal sign, VLOOKUP function, cell reference, range of cells, function argument element.
Drop-down arrow: Data Ribbon, Data Validation, List

Exact lookup: FALSE or 0

Product Price QTY Total
Pro 4 2 $0.00

Product Price Number aligned RIGHT

Pro 1 $22.00
Pro 2 $25.00 Product
Pro 3 $24.50 Pro 3
Pro 4 $30.00

Approximate lookup: TRUE, 1, or omitted

Amount Commission
20000

Amount Commission
0 0
500 0.025
2000 0.04
10000 0.065
15000 0.09

Ex 14 Retrieve record (2-way lookup) with VLOOKUP and MATCH

Type of Formula:
 Lookup Formula.
Formula Elements:
Equal sign, VLOOKUP & MATCH function, cell reference, range of cells, function argument element.
Drop-down arrow: Data Ribbon, Data Validation, List

ID First City E-mail

842-7728

ID First Last Address

842-7618 Sioux Smith 12 14th
842-7728 Chin Pham 3456 Birch Ave.
842-5556 Gigi Reynolds 1023 1st Ave.
842-8395 Phil Gramm 9800 University St.

Ex 15 Type of Formula:
Lookup Formula or Logical Formula.
Formula Elements:
Equal sign, MATCH and/or ISNA and ISNUMBER functions, Absolute & Relative cell references, function argument e
MATCH to compare 2 lists.
List 1 List 2
Prospective Is Item in List 2 in List
Company Customer List Customer List 1?
WFMI QFC
PCC PCC
SWY FM
KG SFM
WM
Is Item in List 2 in List
FM List 2 1?
QFC
PCC
FM
SFM

Is Item in List 2 NOT

List 2 in List 1?
QFC
PCC
FM
SFM

Ex 16 Type of Formula:
Lookup Formula.
Formula Elements:
Equal sign, INDEX and MATCH, cell references, range of cells, function argument element.
INDEX and MATCH to lookup Left.
Product ID
Boom2

ID Product Price
SS-325 Boom1 $22.00
DTR-6456 Boom2 $23.00
HH-3874 Boom3 $19.00

Playlist with almost every cook trick I know (about 90 examples):

VLOOKUP WEEK (Comprehensive How To Look Things Up))
https://www.youtube.com/playlist?list=PL856071E833250503
rences. If data will not change, you can hard code it into formula.

on to do an "Exact Match" lookup.).

ay whether two accounts are in balance)

loan payment).

cell references, or formulas that deliver more than one item.

ber in the cell.
tually stored in the cell as content.
see on the face of the spreadsheet.
does not remove the decimals for calculating purposes.

4 is what is actually in the cell.

igned RIGHT

at refer to it with cell references.

o create: =D90*0.125
Why?
Formula input is not on the face of the spreadsheet where it is easy to change and audit.
Research has shown that imbedding variable formula inputs in formulas (hard coding) is one of the main contributors to faulty
http://www.strategy-at-risk.com/2009/03/03/the-risk-of-spreadsheet-errors/
The Risk of Spreadsheet Errors

igned RIGHT

General Number Formatting

Logical aligned CENTER

 Text aligned LEFT

IF and AVERAGEIF

d, cell reference.

Product
Also: SUMIFS and AVERAGEIFS Product 1
Product 2
Holidays:
10/5/2013
11/1/2013

Sunday is off

Apr May
 $72,550 $75,010

References 15 Examples Formulas, Conditional Formatting & Data Validation

w.youtube.com/watch?v=_PBPU_5jTUA

on time can be reduced,

ample: conditionally formatting whole row).

igned RIGHT

Price
nt element.

City State Zip E-mail

Seattle WA 98111 SSioux@EWTM.com
Seattle WA 98108 PChin@EWTM.com
Seattle WA 98121 RGigi@EWTM.com
Seattle WA 98117 GPhil@EWTM.com

ences, function argument element.

Notes:
<<== #N/A means "not in list"
<<== Number means it found it
<<== Number means it found it
<<== #N/A means "not in list"
he main contributors to faulty spreadsheets.
SalesRep
Sioux
Chelia
Phil