Excel Functions

An introduction to Excel functions

When you attempt Task 3, you will probably notice that not only are you required to input Income Statements and Notes onto an Excel workbook, you also need to think carefully about maximising the use of formulas in constructing your spreadsheet to satisfy following requirements:

1. Cost of sales is a variable cost

2. Administrative expensed are a fixed cost

3. The rate of interest is 7.5% of the long term debt

4. Tax is 28% of profit before tax

5. No dividends are paid.

By completing this task, your Statement of Financial Position should still balance even if the sales value is changed in the Income Statement.

Most of you should have used Excel before taking this module, which means you should be familiar with terms such as ‘cell’, ‘row’, ‘column’, and ‘menu tool bar’ etc. This guidebook will not cover basic Excel functions, but mainly focuses on formulas within Excel which could assist you in Task 3.

Working with formula

You are not expected to use complicated formulas such as ‘IF’ function, or ‘concatenation’. But you should be able to demonstrate that you can apply basic formulas such as ‘adding up’, ‘subtraction’ and ‘multiplication’, etc to link relevant cells in your workbook.

Addition

If you want to add up the total of hotel fee and entertainment fee for Sunday, click on cell E2 (which is the cell that will contain the total figure);

Key in = sign;

Select the value in cell you wish to add (cell D2);

Key in + then select cell C2;

Press Enter.

Cell E2 should have calculated the total figure for you.

Addition – SUM function

If you are adding up a series of numbers, it would be time consuming to use above method. Instead, you could use ‘SUM’ function within Excel to add up a series of numbers within seconds!

To add up column E, click on the cell at bottom of the table (E9);

Click on the Sum icon:...