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Table of ContentsUsing FAST WorkbooksUnderstanding Formulas Understanding Functions Protecting and Unprotecting a Worksheet Tackling Errors Using FAST WorkbooksA template is a pre-designed worksheet that needs to be completed by filling certain cells with data. Excel, like other spreadsheets, stores data in cells. A cell is where a row and a column intersect. Rows are labeled numerically, and columns are labeled alphabetically. A cell is referenced by the row and column intersect. For example, cell A1 is the cell at the intersection of row 1 and column A.
Given below are four things that can go into a cell: 1. A Label (TITLE) — descriptive text. 2. A Formula — the arithmetic used to calculate numbers displayed in the template. 3. A Value (AMOUNT) — a number, formula, or function. 4. A Function — a predefined formula. To complete your homework templates you will need to enter labels, formulas, values, and functions. Wherever you see a blank yellow cell, you will probably need to enter a label or a value. On some occasions, you will need to enter a cell reference. For example, if there is information in cell D4 that you want to enter into cell E24, you would enter =D4, to reference the cell. Understanding FormulasWhen using formulas in an Excel worksheet, you may notice that the formulas look very similar to algebraic formulas. Remember the variables in an algebraic equation? In Excel, you replace the variable with the cell address. To signify to the program that you are entering an equation and not text, begin with an = (equal) sign. Follow the equal sign with the elements to be calculated (the operands), and separate them using calculation operators. Formulas calculate values in a specific order. Excel calculates the formula from left to right, according to a specific order for each operator in the formula. Another important point to keep in mind is that you need to remember your parenthesis rules and order of calculation when you enter your formulas. If you think your formula is correct but the results don't look right, check to see whether the order of calculation is correct. For example, the formula =B10/C10*A10, will give you a different answer than =B10/(C10*A10). In the second case, computation will begin within the parenthesis first. Keep in mind that to change the order of calculation, the part of the formula that is to be calculated first should be enclosed within parentheses. Listed below are some of the basic symbols and signs used in Excel formulas:
In the spreadsheet template files, you will be required to enter a formula or Excel function wherever you see the placeholder: FORMULA, like the one shown in the image below. Note that all other yellow cells are for data input.
Keep in mind that you can reference cells by "pointing" to cells. You will find this method very useful if a cell contains data, which you want to incorporate into a formula or function. Follow the instructions given below to reference a cell: 1. Click the cell in which you want to enter the formula. In the formula bar, type = (equal sign). 2. To create a reference, select a cell by clicking on the cell. You can also use this method to enter a cell reference into a function. Understanding FunctionsFunctions are predefined formulas in Excel that perform calculations by using specific values, called arguments. Functions have a predefined structure that you can use to save you time. Functions can be used to perform simple or complex calculations. You will most likely use a few simple functions like =SUM or =AVERAGE (to get the sum or average of numbers) and some more complex ones like financial functions.
The structure of a function begins with an equal sign (=), followed by the function name, an opening parenthesis, the arguments for the function separated by commas, and a closing parenthesis. For a list of available functions, click a cell and press SHIFT + F3 or click a cell and choose Insert Functions. Arguments can be numbers, text, logical values such as TRUE or FALSE, arrays, or cell references. Arguments can also be formulas or other functions. The argument you enter must produce a valid value for that argument or you will see an error message. Listed below are some of the financial functions that you will most likely need to use to solve your homework problems:
Protecting and Unprotecting a WorksheetProtecting a worksheet enables you to prevent others from changing some or all of the contents of an individual worksheet, viewing hidden rows or columns, viewing formulas, changing graphic objects, or changing saved scenarios. Follow the instructions given below to protect a worksheet: 1. Switch to the worksheet you want to protect.2. Select the Tools | Protection | Protect Sheet menu option. 3. To prevent changes to cells on worksheets or to data and other items in charts, and to prevent viewing of hidden rows, columns, and formulas, select the Contents check box. To prevent changes to graphic objects on worksheets or charts, select the Objects check box. To prevent changes to the definitions of scenarios on a worksheet, select the Scenarios check box. To prevent others from removing worksheet protection, type a password, click OK, and then retype the password in the Confirm Password dialog box. Passwords are case sensitive. Type the password exactly as you want to enter it, including uppercase and lowercase letters. If you assign a password, write it down and keep it in a secure place. If you lose the password, you cannot gain access to the protected elements on the worksheet. Follow the instructions given below to unprotect a worksheet: 1. Switch to the worksheet you want to gain full access to.2. Select the Tools | Protection | Unprotect Sheet menu option. 3. If prompted, enter the protection password for the worksheet. Passwords are case sensitive. You must type the password exactly as it was created, including uppercase and lowercase letters Tackling ErrorsSometimes, you will enter a formula or function into a cell and after that, all you see within the cell is an error message. Listed below are some common error messages that you may encounter when working with Excel:
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