Business Tips Tricks and Enhancement
Excel provides a library of functions for performing commonly needed calculations. A function can be thought of as a prewritten formula ready for you to drop into your own formula. Each function takes the following form:
FunctionName(ArgumentList)
FunctionName identifies the function and is almost always descriptive of what it does. ArgumentList is a list of one or more pieces of information that the function uses to perform its calculations. Each argument can be a number for a cell reference. Some arguments are ranges, written as the starting and ending cell addresses separated by a colon. For example, the range A1:A5 means cells A1, A2, A3, A4, and A5.
Let’s look at an example using the Average function, which calculates the average of a range of cells. You can enter it in a cell by itself. For example, enter this formula in cell A11 to calculate the average of the values in cells A1:A10:
=Average(A1:A10)
You can also use a function as part of a more complex formula. This formula, for example, displays one-half of the average of the values in cells A1:A10:
=Average(A1:A10)/2
Of particular interest for this book are Excel’s financial functions. There are several dozen of them for performing calculations, ranging from simple loan payments to complex depreciation schedules. I have used several of these financial functions in the book’s templates, and will explain the most important ones in detail in the next chapter.
Taken From : Manage Your Money and Investments with Microsoft Excel
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