PREFACE

This book develops with learners’ ease-of-use in mind. The focus is to apply the many important
functions in Excel to expedite business data processing. To enhance understanding, familiar business
data is used as practice. The book is also designed for self-learning so that users can learn anywhere,
anytime and at any pace.

Most of the chapters in this book are related to formulas and functions that are useful for data
manipulation and information extraction in an Excel workbook. This book includes two introductory
chapters that provide little background information about Data Analytics and about how to work with
excel. Many examples are used to illustrate the various formulas using various Excel functions. This
can enhance the learners’ understanding of the formulas as well as the many functions in Excel.

The chapters from the book also focus on data manipulation, presentation and visualisation. This
includes data in tables for data sorting and manipulation, pivot functions for reports generation, charts
for data visualization and slicers for data filtration. Learners are also advised to practice shortcuts
regularly in order to increase speeds in data and report preparation

At the end of each chapter, users should learn the basic Excel functions frequently applied in business
data processing, know how to apply these functions in business data processing, know how to speed
up in processing data and be trained to be more resourceful in finding solutions to various other data
processing problems by using many other Excels capabilities.

2
 INTRODUCTION

The design of this book is based on the assumption that users already have some knowledge
on basic features and functions in Excel like entering and editing worksheet data, basic
worksheet operations, etc.

This book consists of the following sections and features. For ease of reference, standard
symbols representing the section and features are used throughout the manual. For user-
friendliness, wordy explanation is minimized and graphics are used to expedite and
enhance understanding.

1. Screenshot of steps using common business data.

2. Explanation on task and functions of excel with example using the practice data.
3. Shortcut command as a quick and easy step in Excel.
4. Assignment for users to practice.
5. Explore: similar tasks or functions not covered, but within the scope of this manual
for users to self-explore Excel.

Instructions:

1. The earlier section of this book is getting to know Excel. If you are new to Excel,
while going through the book, explore the ribbons on your Microsoft Excel
Software.

2. Then on “Explore”, copy and paste or type in the working data onto your excel
worksheet and follow the instruction step by step.

3. Whenever there is a shortcut symbol, do try out those shortcuts because using Excel
speed is important and shortcut helps.

4. A challenge section is for the extra miles in Excel application. Do attempt

those challenges for a more confident you.
Contents

Chapter 1: Data Analytics: An overview ........................................................................................................ 1

1.1 WHAT IS DATA ANALYSIS? ........................................................................................................................... 1
1.2 THE DATA ANALYSIS PROCESS...................................................................................................................... 2
1.3 THE 4 TYPES OF DATA ANALYSIS .................................................................................................................. 2

Chapter 2: Introducing Excel ........................................................................................................................ 3

2.1 GETTING AROUND EXCEL............................................................................................................................. 3
2.2 RIBBON ........................................................................................................................................................ 4
2.3 FORMATTING NUMBERS ............................................................................................................................. 5
2.4 FORMATTING WORKSHEETS ....................................................................................................................... 9

Chapter 3: Introducing Formula and Functions ........................................................................................... 12

3.1 USING OPERATORS IN FORMULAS ............................................................................................................ 12
3.2 ORDER OF OPERATOR PRECEDENCE ......................................................................................................... 13
3.3 ENTERING FORMULAS ............................................................................................................................... 14
3.4 ENTERING CELL REFERENCES ..................................................................................................................... 15
3.5 INSERTING FUNCTIONS INTO FORMULAS ................................................................................................. 18

Chapter 4: Applying Common Excel Functions ............................................................................................ 22

4.1 USING SUM FUNCTIONS ............................................................................................................................ 22
4.2 USING ARRAY FORMULAS .......................................................................................................................... 24
4.3 USING AVERAGE, MIN AND MAX FUNCTIONS ........................................................................................... 25
4.4 USING FORMULAS FOR CONDITIONAL ANALYSIS ...................................................................................... 26
4.5 PERFORMING CONDITIONAL CALCULATION.............................................................................................. 29
4.6 USING FORMULAS FOR MATCHING AND LOOKUPS .................................................................................. 33
4.7 USING FORMULAS TO MANIPULATE TEXT ................................................................................................. 35
4.8 USING FORMULAS WITH DATES AND TIMES ............................................................................................. 37

Chapter 5: Conditional Formatting ............................................................................................................. 40

5.1 HIGHLIGHT CELLS RULES ............................................................................................................................ 40
5.2 GRAPHICAL CONDITIONAL FORMATTING .................................................................................................. 42
5.3 CREATING YOUR OWN CONDITIONAL FORMATTING RULES..................................................................... 43

4
Most of the chapters in this part are related to formulas
and functions that are useful for data manipulation and
information extraction in an Excel workbook. This part
includes two introductory chapters that provide little
background information about Data Analytics and about
how to work with excel. Many examples are used to
illustrate the various formulas using various Excel
functions. This can enhance on the learners’
understanding of the formulas as well as the many
functions in Excel.
ACCOUNTING DATA ANALYTICS USING EXCEL

Chapter 1: Data Analytics: An overview

The world is becoming more and more data-driven, with an infinite amount of data available to work
with. Big companies like Google and Microsoft use data to make decisions, but they are not the only
ones. Government agencies and small companies, retail firms, in pharmacy and in the world of sports
use data analysis.

1.1 WHAT IS DATA ANALYSIS?

Data analysis is the process of evaluating data using analytical or statistical tools to discover useful in-
formation and sometimes also make predictions about a specific collection of information. The main
purpose of data analysis is to find meaning in data so that the derived knowledge can be used to make
informed decisions. For example, a sales manager might use data analysis to study the sales history of a
product, determine the overall trend, and produce a forecast of future sales.
Programming languages, such as R or Python, are some of these tools. In the world of data analytics
Microsoft Excel is also popular.
Once data is collected and sorted using these tools, the results are interpreted to make decisions. The
end results can be delivered as a summary, or as a visual like a chart or graph. The process of pre-
senting data in visual form is known as data visualization. Data visualization can turn millions of data
points into simple visuals that make it easy to understand and easier to look at.
Data visualization can be presented in the form of dashboard. A data dashboard is a tool that visually
tracks, analyses, and displays key performance indicators (KPI), metrics and key data points to monitor
the health of a business, department, or specific process. Dashboard allows managers to get high-
level overview of the business and help them make quick decisions.

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 ACCOUNTING DATA ANALYTICS USING EXCEL

1.2 THE DATA ANALYSIS PROCESS

Data analysis is a big subject and can include any of the following steps:

1.3 THE 4 TYPES OF DATA ANALYSIS

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ACCOUNTING DATA ANALYTICS USING EXCEL

Chapter 2: Introducing Excel

2.1 GETTING AROUND EXCEL

• Workbook
A workbook is another word for your Excel file. When you start Excel, click Blank workbook to
create an Excel workbook from scratch. It is a collection of related worksheets.
• Worksheet
A worksheet is a single table. It is organized into a rectangular grid containing columns and rows.
Each sheet name displays on a worksheet tab at the bottom of the workbook.
• Cell
A cell is the intersection of each column and row. A cell is the basic unit of a worksheet into which
you enter data.
• Cell Reference or Cell Address
Cell reference or cell address is a unique address to which cell is referred. E.g. “A1” is the cells ad-
dress for the top left cell, where column A and row 1 intersect.
• Range
A range is a group of adjacent cells, e.g. A1 to A5.
• Active Cell
An active cell indicates where data is to be entered. The active cell is identified in three ways:
• A heavy border surrounds the cell.
• The active cell reference/cell address displays immediately above column A in the name box.
• The column headings A and row heading 1 are highlighted.

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 ACCOUNTING DATA ANALYTICS USING EXCEL

2.2 RIBBON
Many of the tools you use while working in Excel are located on the ribbon that displays across the top
of the window. The ribbon contains all the commands related to managing and working with spread-
sheets. The ribbon is organized into task-oriented command tabs. Each tab is divided into task-
specific command groups with commands and options that relate to the group name.
• Home Tab
The Home is the most used tab to create, format, and edit a spreadsheet. It includes Clipboard, Font,
Alignment, Number, Styles, Cells, and Editing groups.

• Insert Tab
The Insert tab allows you to insert a variety of items into a workbook including graphics, tables, charts,
hyperlinks, filters, and so on.

• Page Layout Tab

The Page Layout tab has commands to prepare a spreadsheet for printing or reordering graphics on the
sheet.

• Formulas Tab
The Formulas tab has commands to use when adding formulas and functions to a spreadsheet or
checking a worksheet for formula errors. This tab holds an immense function library which can assist
when creating any formula or function in your spreadsheet.

• Data Tab
The Data tab allows you to import, query, outline, subtotal the data placed into a worksheet’s data list
and so on.

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ACCOUNTING DATA ANALYTICS USING EXCEL

• Review Tab
The Review tab allows you to correct spelling and grammar issues as well as set up security protect-
tions. It also provides the track changes and notes feature providing the ability to make notes and
changes to someone’s workbook.

• View Tab
The View tab allows you to change the view of your workbook including freezing or splitting
panes, viewing gridlines and hide cells.

• Help Tab
The Help tab allows you to get online help, training on using Excel, give feedback on the program as
well as access other aspects of Microsoft’s community.

2.3 FORMATTING NUMBERS

Applying number formatting changes the appearance of the values in the cells. Numbers or values
may be formatted into the following:

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 ACCOUNTING DATA ANALYTICS USING EXCEL

i) Method 1
Formatting numbers by using the Ribbon

HOME NUMBER
TAB GROUP BUTTON

1
2

ii) Method 2
Formatting numbers by using the Format Cells dialog box

Use the Number tab

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ACCOUNTING DATA ANALYTICS USING EXCEL

How to open the Format Cells dialog box.

Start by selecting the cell or cells that you want to format and then do one of the following methods:

1
Choose Home ➪ Number and click the small dialog
box launcher icon (in the lower-right corner of the
Number group).

2
Choose Home ➪ Number, click the Number For-
mat drop-down list, and choose More Number For-
mats from the drop-down list..

3
Right-click the cell and choose Format
Cells from the shortcut menu.

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 ACCOUNTING DATA ANALYTICS USING EXCEL

(Use Working Data 1)

1. Format the values in the Total Sales(2018), Total Sales(2019) and Cost of Sales (2019) column as
number with 2 decimal places and use 1000 separator (,).
2. Format the values in the Total Sales (2018), Total Sales (2019) and Cost of Sales (2019) for month
of January as currency.
(Use any method for formatting described above)

Format as number with 2

decimal places and use
1000 separator (,)

TIPS: To select a range of cells (e.g. cell range B3:D14), left click and drag the range of cells diagonally
from the top left corner(B3) to the bottom right corner (D14). When you select a range, the cells will
appear highlighted, except for the active cell (B3), which remains its normal color.

Format as currency

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ACCOUNTING DATA ANALYTICS USING EXCEL

2.4 FORMATTING WORKSHEETS

Formatting your worksheet is more than just making your worksheet look professional and displaying
your data efficiently.

The Excel cell formatting tools are available in three locations.

1 On the Home tab of the

Ribbon

On the Mini toolbar that

appears when you right-
click a selected range or 2
a cell

3
From the Format Cells
dialog box

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 ACCOUNTING DATA ANALYTICS USING EXCEL

Explore the formatting of worksheets that you can use such as:
• Change font style, size, color, or apply effects
• Change the text alignment
• Using borders and colors to emphasize data
• Change the orientation of text in a cell
• Apply a cell style
• Apply document themes

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ACCOUNTING DATA ANALYTICS USING EXCEL

IMPORTANT SHORTCUT COMMAND FOR EDITING AND

FORMATING

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 ACCOUNTING DATA ANALYTICS USING EXCEL

Chapter 3: Introducing Formula and

Functions
Formulas are what make a spreadsheet program so useful and the core of an
Excel worksheet. Formulas use a variety of operators and worksheet functions to
work with values and text. The values and text used in formulas can be in other
cells, which makes changing data easy and gives worksheets their dynamic nature.

A formula always starts with an equal sign (=) to tell Excel that it is a formula and not
Data. It can include any of these elements:
❖ Mathematical operators, such as + (for addition) and * (for multiplication)
❖ Cell references (including named cells and ranges)
❖ Values or text
❖ Worksheet functions (such as SUM and AVERAGE)

3.1 USING OPERATORS IN FORMULAS

Operators are symbols that indicate what operations to perform.

The following table shows all of these operators organized by type and followed by an
example.

Type Character Operation Example

+ (plus sign) Addition =A2+B3

– (minus sign) Subtraction or negation =A3–A2 or –C4

* (asterisk) Multiplication =A2*B3

Arithmetic Division =B3/A2
/
% Percent (dividing by 100) =B3%

^ Exponentiation =A2^3

= Equal to =A2=B3

> Greater than =B3>A2

< Less than =A2<B3

Comparison Greater than or equal to =B3>=A2
>=
<= Less than or equal to =A2<=B3

<> Not equal to =A2<>B3

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ACCOUNTING DATA ANALYTICS USING EXCEL

Concatenates (connects) =A2&” “&B3t

Text & entries to produce one con-
tinuous entry

Range operator that in- =SUM(C4:D17)

: (colon) cludes

Union operator that com- =SUM(A2,C4:D17,B3)

, (comma) bines multiple references
Reference into one reference
Intersection operator that =SUM(C3:C6 C3:E6)
(space) produces one reference to
cells in common with two
references

3.2 ORDER OF OPERATOR PRECEDENCE

When you create a formula that combines various computational operators, Excel
follows the operator's order of precedence as shown in the table below.

Precedence Operator Type/Function

1 – Negation
2 % Percent
3 ^ Exponentiation
4 * and / Multiplication and Division
5 + and – Addition and Subtraction
6 & Concatenation
All Comparison Operators
7 =, <, >, <=, >=, <>

Parentheses can be used to override the built-in Excel order of precedence. Expressions
within parentheses are always evaluated first. Excel calculates a different answer if you
enter the formula without the parentheses. You can also nest parentheses within
formulas—that is, put them inside other parentheses. If you do so, Excel evaluates the
most deeply nested expressions first—and then works its way out.

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 ACCOUNTING DATA ANALYTICS USING EXCEL

3.3 ENTERING FORMULAS

i) Method 1 - Manually

❖ In the selected cell, type an equal

sign (=) followed by a formula. As
you type, the characters will appear in
the cell and in the Formula bar.
❖ Excel provides additional assistance
when creating formulas by displaying
a drop-down list containing the names
of the functions and the names of the
ranges.
❖ Just start typing your formula, and
Excel will help by providing you with
a list of the possible options and
arguments available.

ii) Method 2 - By Pointing

This method generally easier, faster, and less error prone. This method still involves
some manual typing, but instead of typing their values manually, you can simply
point to the CELL REFERENCES.

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ACCOUNTING DATA ANALYTICS USING EXCEL

3.4 ENTERING CELL REFERENCES

Cell references are used in a formula to refer to the contents of a cell or a group of cells. Cell refer-
ences allow you to use values from different parts of a worksheet and execute a desired calculation.
These references allow your formulas to work dynamically with.

There are three types of references:

The cell reference type is only relevant if you intend to copy the formula to other cells.
REFERENCING CELLS IN OTHER WORKSHEETS
Use the following format to use a cell reference in another worksheet in the same workbook:
=SheetName!CellAddress
For example, here’s a formula that uses a cell on the Sheet2 worksheet:
=A1*Sheet2!A1
This formula multiplies the value in cell A1 on the current worksheet by the value in cell A1 on Sheet2.

REFERENCING CELLS IN OTHER WORKBOOKS

Use the following format to refer to a cell in a different workbook:
=[WorkbookName]SheetName!CellAddress
For example, here’s a formula that refers to a cell on Sheet1 in a workbook named Budget For 2019:
=A1*'[Budget For 2019.xlsx]Sheet1'!A1

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 ACCOUNTING DATA ANALYTICS USING EXCEL

(Use Working Data 1)

Enter the formula using the manual method.
1. Calculate monthly Gross Profit/Loss (Total Sales - Cost of Sales) for year 2019.

1
In cell E3, type
=C3 - D3

2
Copy the formula in
cell E3 to the cell
range E4:E14

TIPS: To copy the formula .

Many methods can be used to copy the formula.

 Click cell E3 and then point to the fill handle (a small square at the bottom-right corner of the outline).
Click and drag the fill handle down through cell E14 until you’ve highlighted from cell E3 down to cell E14

 OR highlight cell E3 to E14, click the Fill Button in the Edit menu and select Fill Down.

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ACCOUNTING DATA ANALYTICS USING EXCEL

(Use Working Data 1)

Enter the formula using the pointing method.
1. Calculate monthly Percent Sales Variance ((Total Sales 2019 - Total Sales 2018) / Total Sales
2018).
2. Format the values in the Percent Sales Variance column as percentage.

In cell F3, type an equal sign (=) and a left parenthesis ( .

Then click cell C3. Excel will displays a dashed border around
cell C3, and the cell reference appears in cell F3 and in the For- 1
mula bar

Type minus sign (-) and click cell B3.

Type slash sign (/) and click cell B3. The dashed border encom-
passes cell B3 adds that cell address to the formula.
2
3
Press enter to complete the formula

Copy the formula

in cell F3 to the cell
range F4:F14

Format the value

as percentage (%)

4
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 ACCOUNTING DATA ANALYTICS USING EXCEL

3.5 INSERTING FUNCTIONS INTO FORMULAS

Excel supports a wide variety of built-in functions that you can use when building formulas. The most
popular built-in function is by far the SUM function, which is automatically inserted when you click
the Sum command button on the Home tab of the Ribbon.
i) Method 1
By selecting from one of the function in the Function Library Group on the Ribbon Formulas tab

FUNCTION CHOOSE
FORMULA
TAB GROUP LIBRARY BUTTON FUNCTION

ii) Method 2
By using the Insert Function dialog box

FUNCTION INSERT INSERT

FORMULA LIBRARY DIALOG
TAB GROUP BUTTON FUNCTION FUNCTION
BOX

Search for a function

Or select a function from

a category.

TheThe definition
definition of the of the
function
function appears
appears here here.

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ACCOUNTING DATA ANALYTICS USING EXCEL

Excel then displays its Function Arguments dialog box. This is where you enter the function’s
arguments.

Then, specify the

arguments for the
function. The Function
Arguments dialog box
will vary according to
the function you insert
and will display a text
box on each of the
arguments.

ii) Method 3
By using Formula AutoComplete

Type your formula, and

Excel will help by presenting
you with a list of the possible
options and arguments
available.

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 ACCOUNTING DATA ANALYTICS USING EXCEL

TOP 10 FUNCTIONS
Below you can find a description of the 10 most commonly used Excel functions.

FUNCTIONS DESCRIPTIONS
To count the number of cells that contain numbers.
COUNT Note: use COUNTBLANK and COUNTA to count blank/
nonblank cells in Excel.

To sum a range of cells. You can also use the SUM function in Excel
SUM
to sum an entire column.

The IF function checks whether a condition is met, and returns one

IF
value if true and another value if false.

AVERAGE To calculate the average of a group of numbers.

To count cells that are equal to a value, count cells that are greater
COUNTIF
than or equal to a value, etc.

To sum cells based on numbers that meet specific criteria.

SUMIF

To search vertically (from top to bottom) the leftmost column of a

VLOOKUP Lookup table until the program locates a value that matches or
exceeds the one you are looking up.

To perform advanced lookups.

The MATCH function returns the position of a value in a given range.
INDEX and MATCH The INDEX function returns a specific value in a one-dimensional
range.

The MIN function use to find the minimum value.

MIN and MAX
The MAX function use to find the maximum
value.
To calculate the sum of the products of corresponding numbers in
SUMPRODUCT one or more ranges.

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ACCOUNTING DATA ANALYTICS USING EXCEL

IMPORTANT SHORTCUT COMMAND FOR FORMATING AND NAVIGATION

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 ACCOUNTING DATA ANALYTICS USING EXCEL

Chapter 4: Applying Common Excel

Functions
4.1 USING SUM FUNCTIONS
• Use the SUM function in Excel to sum a range of cells, an entire column or non-
contiguous cells.

(Use Working Data 1)

1. Determine the TOTAL for Total Sales (2018), Total Sales (2019), Cost of
Sales (2019) and Gross Profit/Loss (2019).
(Use any method for inserting the function described above)

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ACCOUNTING DATA ANALYTICS USING EXCEL

Insert SUM function

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 ACCOUNTING DATA ANALYTICS USING EXCEL

4.2 USING ARRAY FORMULAS

• An ARRAY formula is a formula that can perform multiple calculations on one or more items
in an array. You can think of an array as a row or column of values, or a combination of rows
and columns of values. Array formulas can return either multiple results, or a single result.

(Use Working Data 1)

1. Determine the TOTAL for Gross Profit/Loss (2019) by using array formula.

1
Then click and In cell E16, type =SUM and a
drag the Cell left parenthesis (
Range C3:C14 ,
and type a minus
sign (-)
2

3
Then, click and drag
the Cell Range D3:D14.
Press Ctrl+Shift+Enter
to enter the formula

Normally, you press Enter

to enter a formula. Because
this is an array formula,
however, press
Ctrl+Shift+Enter.

If you check at the Formu

la bar, Excel inserts curly
brackets around the
formula to show that it is
an array formula. as
follows:

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ACCOUNTING DATA ANALYTICS USING EXCEL

4.3 USING AVERAGE, MIN AND MAX FUNCTIONS

• The AVERAGE function sums the numbers in the specified range and then divides the sum by
the number of non-zero cells in the range.
• The MAX function will display the highest value in a range.
• The MIN function will determine the lowest value in a range.

(Use Working Data 1)

1. Determine the AVERAGE, LOWEST and HIGHEST value for Total Sales (2018), Total
Sales (2019), Cost of Sales (2019) and Gross Profit/Loss (2019).
(Use any method for inserting the function described above)

Insert AVE, MIN and MAX

function

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 ACCOUNTING DATA ANALYTICS USING EXCEL

4.4 USING FORMULAS FOR CONDITIONAL ANALYSIS

• A condition is an expression or a value that returns either TRUE or FALSE. A formula can branch
into two distinct formulas depending on the value of the condition.
• That is, one value or expression is evaluated when the condition returns TRUE, while the other is
ignored.
• The flow of the formula is reversed by a FALSE condition and the first value or expression is
ignored while the other is evaluated.

CHECKING IF A SIMPLE CONDITION IS MET

(Use Working Data 1)

1. Determine if the bonus can be awarded if Gross Profit (2019) exceeds RM15,000.
In the BONUS column, you will report "YES" for a gross profit greater than RM15,000 and
"NO" for less than RM15,000.

1
In cell G3, insert conditional
arguments
=IF(E3>=15000,"YES","NO")

=IF (logical_test, [value_if_true], [value_if_false])

2
Copy the function in
cell G3 to the cell
range G4:G14

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ACCOUNTING DATA ANALYTICS USING EXCEL

CHECKING IF CONDITION 1 AND CONDITION 2 ARE MET

(Use Working Data 1)

1. Determine if the bonus can be awarded if Gross Profit (2019) exceeds RM15,000 AND
Percentage Sales Variance exceeds 1%.
In the BONUS 2 column, you will report "YES" if both conditions are met and “NO" if not met.

1
In cell H3, insert conditional arguments
=IF(AND (E3>=15000,F3>1%),"YES","NO")

2
Copy the function in
cell H3 to the cell
range H4:H14

NOTES:

If AND function is included in your logical test, Microsoft Excel returns

TRUE if all conditions are met; otherwise it returns FALSE.

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 ACCOUNTING DATA ANALYTICS USING EXCEL

CHECKING IF CONDITION 1 OR CONDITION 2 ARE MET

(Use Working Data 1)

1. Determine if the bonus can be awarded if Gross Profit (2019) exceeds RM20,000 OR
Percentage Sales Variance exceeds 20%.
In the BONUS 3 column, you will report "YES" if both conditions are met and “NO" if not met.

In cell I3, insert conditional arguments

=IF(OR(E3>=20000,F3>20%),"YES","NO") 1

2
Copy the function in
cell I3 to the cell
range I4:I14

NOTES:

If OR function is used in a logical test, Excel returns TRUE if any of the

conditions is met; otherwise, FALSE.

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ACCOUNTING DATA ANALYTICS USING EXCEL

4.5 PERFORMING CONDITIONAL CALCULATION

• Calculation may be made on the basis of a number of conditions.

SUMMING ALL VALUES THAT MEET A CERTAIN CONDITION

(Use Working Data 2)

1. Calculate Sum of the Sales in the West Region.

Then click and drag the cells you In cell F4, type =SUMIF and a

2
to analyze - Cell Range B3:B32 ,
and type a comma. 1 left parenthesis (

And, click and drag the cells for Enter the category you want to
the range - Cell Range D3:D32.
Press enter. 4 find - West , and type a com-
ma. 3

NOTES:

Use the SUMIF function to sum the values in a range that meet
criteria that you specify.

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 ACCOUNTING DATA ANALYTICS USING EXCEL

SUMMING ALL VALUES THAT MEET TWO OR MORE CONDITIONS

(Use Working Data 2)

1. Calculate Total Sales of the West Region from year 2015 to 2019.

Then select the sum

range - Cell Range
1
D3:D32 , and type a In cell F4, type =SUMIFS and a
comma. left parenthesis (

3
Select the first criteria range -

4 B3:B32, and type a comma.

Select the criteria,

cell reference - G7
- West, and type a
comma.

Select the third criteria range - You can easily

5
C3:C32, and type a comma. change to another
Select the criteria, cell reference Region and Year
G8 - Year 2015 and after, and and Excel will
type a comma. automatically
calculate the Total
Sales

Select the fourth criteria range -

6 C3:C32, and type a comma.

Select the criteria, cell reference G9 - NOTES:
Year 2019 and before, and type a Use SUMIFS to test multiple conditions and
comma. return a value based on those conditions.
Then Press Enter.

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ACCOUNTING DATA ANALYTICS USING EXCEL

COUNT OF VALUES THAT MEET A CERTAIN CONDITION

(Use Working Data 2)

1. Calculate how many times the Sales was greater than or equal to 1 million.

Then select the

cells where you

1
want to find the
criterion - Cell
Range D3:D32,
and type a comma.
In cell G16, type =COUNTIF and
a left parenthesis (

You can easily

change to another Sales
value in cell G14 and
Excel will
automatically Count the
number

3
Enter the criterion you want
to find , cell reference G14 -
>=1,000,000 .

Then Press Enter.

NOTES:
• Use the COUNTIF, one of the statistical functions, to count the number of cells that meet a
criterion.
• And use the COUNTIFS, to count the number of cells that meet two or more criterion.
(structured similarly to the SUMIFS function).

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 ACCOUNTING DATA ANALYTICS USING EXCEL

AVERAGE OF ALL VALUES THAT MEET A CERTAIN CONDITION

(Use Working Data 2)

1. Calculate the Sales Average for only the West Region.

Then select the cells where you

2 want to find the criterion - Cell
Range B3:B32 , and type a
1
In cell G16, type
=AVERAGEIF and a left
parenthesis (
comma.

You can easily change

to another Region in cell
G20 and Excel will
automatically calculate
the Average Sale.

And, select the cells for the Enter the criteria, cell
range to average - Cell Range
D3:D32.
4 reference G20 - West , and
type a comma.
3
Press enter.

NOTES:
• The AVERAGEIF, Returns the average (arithmetic mean) of all the cells in a range that
meet a given criteria.
• And AVERAGEIFS, Returns the average (arithmetic mean) of all cells that meet multiple
criteria. (structured similarly to the SUMIFS function).

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4.6 USING FORMULAS FOR MATCHING AND LOOKUPS

• A LOOKUP function Is use to look up a value in a range of data.
• The Excel XLOOKUP function is a modern and flexible replacement for older functions
like VLOOKUP, HLOOKUP, and LOOKUP. XLOOKUP allows us to search for an item in a
range (or table) and return matching result.
• You need Microsoft Office 365 to use XLOOKUP

(Use Working Data 3)

1. What is Jackie's net sales?

In cell H2, insert the formula

=XLOOKUP(G2,A2:A19,C2:C19)

Lookup Value - Lookup Array - Return Array -

Cell G2 Range A2:A19 Range C2:C19

(Use Working Data 3)

1. Who's making the most sales?

In cell H2, insert the formula

=XLOOKUP(MAX(C2:C19),C2:C19,A2:A19)

Lookup Value - Maximum Lookup Array - Return Array -

value in range C2:C19 Range C2:C19 Range A2:A19

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 ACCOUNTING DATA ANALYTICS USING EXCEL

(Use Working Data 3)

1. What is Jason's net sales?

In cell H2, insert the formula 4th parameter for

=XLOOKUP(G4,A2:A19,C2:C19,"Value Not Found") XLOOKUP:
IF not found

Lookup Value - Lookup Array - Return Array - If not found

Cell G4 Range A2:A19 Range C2:C19 option

(Use Working Data 3)

1. What is the profit of a person whose name begins with “Ju”?

In cell H2, insert the formula

=XLOOKUP(G5&"*",A2:A19,D2:D19,,2,-1)

Wild Card Searches. * - for

Lookup Array - Return Array
any number of letters and ?
Range A2:A19 - Range
for single letter
D2:D19
5th parameter for 6th parameter for
XLOOKUP: XLOOKUP:
Match Mode or type Search Mode

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4.7 USING FORMULAS TO MANIPULATE TEXT

• The TEXT function lets you change the way a number appears by applying formatting to it with
format codes. It's useful in situations where you want to display numbers in a more readable for-
mat, or you want to combine numbers with text or symbols.

TEXT FUNCTION

(Use Working Data 4)

1. Enter the Text function as shown in the following tables.

=TEXT(Value you want to format, "Format code you want to apply")

You can copy the format

code from the Format
Cells Dialog Box

CREATE SENTENCES WITH THE TEXT FUNCTION

(Use Working Data 4)

1. Combine text and a number value with the Text function as shown in the following tables.

You can combine multiple values and text with the

Ampersand (&) and punctuation separators, like
&", "& to add a comma followed by a space. This is
called "CONCATENATION".

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• The TEXTJOIN function combines the text from multiple ranges and/or strings, and includes a
delimiter you specify between each text value that will be combined. If the delimiter is an empty
text string, this function will effectively concatenate the ranges.

TEXTJOIN FUNCTION

(Use Working Data 4)

1. Enter the TEXTJOIN function as shown in the following tables

CONCAT function combines the text

from multiple ranges and/or strings, but
it doesn't provide delimiter or Ignore
Empty arguments.

=TEXTJOIN(delimiter, ignore_empty, text1, [text2], …)

Argument Description

Delimiter A text string, either empty, or one or more characters enclosed by

(required) double quotes, or a reference to a valid text string. If a number is
supplied, it will be treated as text.
Ignore empty If TRUE, ignores empty cells.
(required)
Text1 Text item to be joined. A text string, or array of strings, such as
(required) a range of cells.
[text2, ...] Additional text items to be joined. There can be a maximum of
(optional) 252 text arguments for the text items, including text1. Each can
be a text string, or array of strings, such as a range of cells.

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ACCOUNTING DATA ANALYTICS USING EXCEL

4.8 USING FORMULAS WITH DATES AND TIMES

• How excel represents the date and time.
❖ Microsoft Excel stores dates as sequential numbers that represents the number of days
since the fictitious date of January 0, 1900.
❖ January 1, 1900 is serial number 1, January 2, 1900 is serial number 2, and 20 June 2018 is
serial number 43271 because it is 43,271 days after January 1, 1900. This method
enables the creation of formulas that perform calculations with dates.
❖ Excel stores times as decimal fractions because time is considered a portion of a day.
❖ Date and Time are in fact Excel numbers. Only insert a date on your excel sheet and format
it as a number to see its corresponding numeric value.
❖ If a date is 9PM on 20-June-2018 and excel represents it as 43271.875

(Use Working Data 5)

Explore the Date Formula in Working Data 5. For more information please refer to the explanation in
the table below.

TOP DATE FUNCTIONS

Functions Description

DAY function Converts a serial number to a day of the month. The day is given as an
integer ranging from 1 to 31.

MONTH function Converts a serial number to a month. The month is given as an

integer, ranging from 1 (January) to 12 (December).

YEAR function Converts a serial number to a year.

TODAY function Returns the serial number of today's date. The TODAY function is
useful when you need to have the current date displayed on a
worksheet, regard- less of when you open the workbook.
EDATE function Returns the serial number of the date that is the indicated number of
months before or after a specified date (the start date). Use EDATE to
calculate maturity dates or due dates that fall on the same day of the
month as the date of issue.

EOMONTH Returns the serial number of the last day of the month before or after a
function specified number of months. Use EOMONTH to calculate maturity
dates or due dates that fall on the last day of the month.

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TOP DATE AND TIME FUNCTIONS

Functions Description

=TODAY()+5 Returns the current date plus 5 days.

WORKDAY Returns a number that represents a date that is the indicated number of
function working days before or after a date (the starting date). Working days
exclude weekends and any dates identified as holidays. Use
WORKDAY to exclude weekends or holidays when you calculate
invoice due dates, expected delivery times, or the number of days of
work performed.

NETWORKDAYS Returns the number of whole working days between start date and
function end date. Working days exclude weekends and any dates identified in
holidays. Use NETWORKDAYS to calculate employee benefits that
accrue based on the number of days worked during a specific term.

WEEKDAY Returns the day of the week corresponding to a date. The day is given
function as an integer, ranging from 1 (Sunday) to 7 (Saturday), by default.

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ACCOUNTING DATA ANALYTICS USING EXCEL

IMPORTANT SHORTCUT COMMAND FOR FORMATING AND NAVIGATION

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 ACCOUNTING DATA ANALYTICS USING EXCEL

Chapter 5: Conditional Formatting

Use conditional formatting for visual analysis of results, the identification of essential issues and
patterns and trends. The conditional format changes the appearance of cells on the basis of the
condition you define.

CONDITIONAL
HOME STYLES
TAB GROUP BUTTON FORMATTING

5.1 HIGHLIGHT CELLS RULES

Different options are available to define formatting rules that highlight cells that contain certain
values, text, or dates in a cell selection, or that have values greater than or less than a given value,
or that fall within certain ranges of values.

(Use Working Data 1)

1. Set up rules for the Gross Profit / Loss column: Apply a yellow fill with a dark yellow font to
cells in a range when they contain 18,000, a green fill with dark green text when they’re great-
er than 18,000, and a light red fill with dark red text when they’re less than 18,000.

2 Click the Conditional

Formatting button

1
Click the Highlight
Cell Rules

Select the cell

range E3:E14
3

Click the Equal To

from the drop-
down menu
4
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ACCOUNTING DATA ANALYTICS USING EXCEL

Excel opens the

Equal To dialog box 5
7
Then select Yellow Fill
with Dark Yellow Text
from the drop-down
list box

Type 18,000 in the

Format Cells That
Are EQUAL TO
text box 6 Click OK

8
Next click Highlight Cell Rules

9
and choose Greater Than.
Then repeat the same step.

Next click Highlight Cell Rules

and choose Less Than.
Then repeat the same step.
10

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 ACCOUNTING DATA ANALYTICS USING EXCEL

5.2 GRAPHICAL CONDITIONAL FORMATTING

Represents the relative values in the selection of cells by the length of the color bar in each cell.
The data bars are a great way to easily distinguish lower and higher values across a wide range of
data.

(Use Working Data 1)

1. Format the Total Sale (2018) and Total Sales (2019) column with Data Bars.
2. Format the Cost of Sales (2019) column with Colour Scales.
3. Format the Percent Sales Variance column with Directional Icon Sets.

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ACCOUNTING DATA ANALYTICS USING EXCEL

5.3 CREATING YOUR OWN CONDITIONAL FORMATTING RULES

CONDIONAL NEW FORMAT-

HOME STYLES DIALOG
TAB GROUP BUTTON FORMATTING TING RULE
BOX

2
1 Excel opens the New Formatting
Rule dialog box

Click New
Rule

(Use Working Data 1)

Explore the New Formatting Rule dialog box and create your own new conditional formatting rule.

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 ACCOUNTING DATA ANALYTICS USING EXCEL

You are a consultant to the Accounting department of SAZSA Store, a popular Shah Alam–based
merchandise company with several outlets in Selangor. You have been asked to use Excel to
generate a report that summarizes the monthly accounts receivable balance. A graphic break-
down of the data also is desired.

Required:
1. Create a worksheet similar to the one shown in Figure 1 (next page). include all seven cus-
tomers in Table 1 in the report, plus a service charge and a new balance for each customer.
Assume no negative unpaid monthly balances.
2. Use the following formulas to determine the monthly service charge and the new balance
• Service Charge = 2.25% * (Beginning Balance - Payments - Credits)
• New Balance = Beginning Balance + Purchase - Payments - Credits + Service Charge
3. Calculate totals for Beginning Balance, Purchase, Payments, Credits, Service Charge and
New Balance.
4. Assign the appropriate function to calculate the Average, Maximum and Minimum value
5. Apply the required formatting to the worksheet to enhance their appearance and readability.
• Formatting the Worksheet Title, Column Titles and numbers.
6. Use the Conditional Formatting to highlight the value in the New Balance column that con-
tains a value greater than or equal to 10,000. And apply Data Bars to Purchases and
Payments column
7. Adjust the Widths of Columns and Heights of Rows where appropriate.

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ACCOUNTING DATA ANALYTICS USING EXCEL

Figure 1

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 ACCOUNTING DATA ANALYTICS USING EXCEL

You are an intern at the Awesome Intranets, a computer company that specializes in the installa-
tion of intranets in Malaysia. Your academic advisor at College and your supervisor at Awesome
Intranets have agreed on a challenging Excel project for you to do. They want you to create Six
Month Net Income Projection worksheet based on the assumptions in Table 2. The desired work-
sheet is shown in Figure 2(next page).
Required:
1. Create a worksheet similar to the one shown in Figure 2 (next page). include the projected
monthly revenue for the months of January to June.
2. Enter the assumptions value in Table 2 at the bottom of the worksheet.
3. Use the following formulas to determine the expenses and the net income
• Administrative = Administrative % * Projected Revenue for the month
• Bonus = If the projected revenue for the month is greater than or equal to the Revenue
for Bonus in the assumption, then the projected bonus for the month is equal to the
amount Bonus in the assumption; otherwise projected bonus for the month is equal to
zero.
• Commission = Commission % * Projected Revenue for the month
• Equipment = Equipment % * Projected Revenue for the month
• Marketing = Marketing % * Projected Revenue for the month
• Technical Support = Technical Support % * Projected Revenue for the month
• Net Income = Projected Revenue for the month - Projected Total Expenses for the month
3. Apply the required formatting to the worksheet to enhance their appearance and readability.
• Formatting the Worksheet Title, Column Titles and numbers.
6. Insert the Current Date in the Worksheet Title.
7. Adjust the Widths of Columns and Heights of Rows where appropriate.

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ACCOUNTING DATA ANALYTICS USING EXCEL

Figure 2

47