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Excel Audit Software Aditya Presentations In Agra
- 1. Application Management Services
Agra Branch of CIRC of ICAI on 9th Dec’2005
Using Excel as an Audit Software
CA Aditya Singhal
M.Com, FCA, DISA(ICAI)
+91 9972 82300
Aditya.singhal@icai.org
Join Excel professional group for regular Excel update:
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Confidential | March 2004 © 2004 IBM
Corporation
© 2005 IBM
Confidential | Corporation
- 2. Application Management Services
CLASSIFICATION OF EXCEL COMMANDS
13. Auditing features
1. Split windows and freeze panes
14. Sort command
2. Hide and Unhide rows & columns
15. If function
3. Moving around a spreadsheet with
Ctrl, Shift, and Arrow keys 16. Sum & If Sum
4. Name cells/ranges 17. And & Or functions
5. Toggling among relational and 18. Protecting cells and
absolute references worksheets
6. Fill down and fill right commands 19. Group and Ungroup
your spreadsheet
7. Insert Function command
20. Subtotal function
8. Paste Special command
21. Sum Product function
9. Change the case of text
22. Auto filter command
10. Editing multiple work sheets
simultaneously 23. Conditional formatting
11. Customize tool bars 24. Count function
12 Shorts cuts Keys 25. Round, Roundup,
Round down functions
26. Vlookup & Hlookup
27. Statistics
28. Pivot table
29. Attach file in Excel sheet
30. NPV Functions
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© 2005 IBM Corporation
- 3. Application Management Services
1. SPLIT WINDOWS AND FREEZE PANES
- Splitting a window allows you to work on multiple
Why you parts of a large spreadsheet simultaneously
need to - Freezing the pane allows you to always keep one part
know this of the spreadsheet (e.g., column or row labels) visible
- Drag the split horizontal and split vertical icons to
How you the desires positions
use this - Click on the freeze pane icon from the tool bar to
feature freeze the panes
Freeze pane icon
Split screen icons
- Split the screen so that:
Exercise The row with column labels shows up in the top pane
The column with store names show up in the left pane
- Freeze the panes
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- 4. Application Management Services
2. HIDE AND UNHIDE COMMAND
- Allows you hide and unhide particular rows or
Why you columns
need to Simplifies working with the spreadsheet
know this
Prevent certain information from being seen
- Select the row(s) or column(s) to be
How you hidden/unhidden
use this - Select Format : Row : Hide/Unhide or Format :
feature Column : Hide/Unhide
Exercise - Hide the Avg Sale/Ticket column
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© 2005 IBM Corporation
- 5. 3. MOVING AROUND AServices
Application Management SPREADSHEET WITH CTRL, SHIFT,
AND ARROW KEYS
- Save you lots of time
Why you - Move the first or last cell of a contiguous data block
need to without scrolling
know this
How you - Ctrl-Arrow : Move to the first/last data cell in the
arrow direction
use this
- Ctrl-Shift-Arrow : Selects the cells between the
feature current cell and the first/last data cell
Exercise - Select all cells with data using the Ctrl, Shift, and
Arrow keys
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- 6. Application Management Services
4. NAME CELLS/RANGES
- Allows specific cells or cell ranges to be referred to
Why you by name
need to - Allows you to write equations such as =
know this Quantity*Cost instead of =$B$12*$C$4
How you - Select the cell or cell range
- Select Insert : Name : Define from the menu
use this bar
feature
Exercise - Define cells A2:A125 as “Sequence”
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© 2005 IBM Corporation
- 7. Application Management Services
5. TOGGLING AMONG RELATIONAL AND
ABSOLUTE REFERENCES
Why you
need to - Saves you lots of time
know this
How you
- F4 key toggles through the different options
use this
feature
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© 2005 IBM Corporation
- 8. Application Management Services
6. FILL DOWN AND FILL RIGHT COMMANDS
Why you - Saves you lots of time
need to - Allows for copying of cell content to contiguous cells
with a single keystroke
know this
How you - Select the cell with the content to be copied and drag
to select the cells to which the content should be copied
use this
- Ctrl-R to fill right
feature - Ctrl-D to fill down
Caution!! - Double-check your formulas for absolute vs. relative
references!!
Exercise - Calculate the total daily sales for each store
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- 9. Application Management Services
7. INSERT FUNCTION COMMAND
Why you
- What do you do if you do not know what functions
need to
are available or how to enter the arguments for a
know this function?
- Select the cell
How you - Select Insert : Function from the menu bar
use this
feature
Exercise - Calculate the median daily ticket count for all the
stores
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- 10. Application Management Services
8. PASTE SPECIAL COMMAND
- Saves you lots of time
Why you Retyping formulas
need to Converts formulas into values
know this Reformatting cells
Transposing cells (i.e., convert row-entered data blocks into
column-entered ones)
- Copy the cells of interest
How you - Place the cursor where you want to past the information
use this - Select Edit : Paste Special from the menu bar
feature - Select the appropriate options from the dialog box that
appears
- Convert the Rounded Avg Sale/Ticket calculations into
Exercise values (i.e., get rid of the formulas)
- Copy and paste the entire dataset into a new spreadsheet in
transposed manner
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© 2005 IBM Corporation
- 11. Application Management Services
9. Change the case of text
Why you
need to For Formatting text
know this
How you
use this Formula Description (Result)
feature =UPPER(A2) Changes text to all UPPERCASE (NANCY
AVOLIO)
=LOWER(A2) Changes text to all lowercase (nancy davolio)
=PROPER(A2) Changes text to Title Case (Nancy Davolio)
Exercise Change case of text
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© 2005 IBM Corporation
- 12. Application Management Services
10. EDITING MULTIPLE WORKSHEETS
SIMULTANEOUSLY
Why you
- Avoid having to redo your work on multiple
need to
spreadsheets in a single workbook
know this
How you - Select the first spreadsheet to be edited
use this - Hold the Ctrl key while clicking on the additional
spreadsheets
feature
- Do your editing
Exercise - Try it
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- 13. Application Management Services
11. CUSTOMIZE TOOL BARS
- How many icons on the tool bar to you use regularly?
Why you - How often do you have to use the menu bar or mouse
need to to do something you wish were accessible with a single
know this click?
- Select View : Toolbars : Customize
How you - Click on the Commands tab
use this - Drag items on and off the toolbar as you wish
feature
Exercise - Modify your toolbar as desired
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© 2005 IBM Corporation
- 14. Application Management Services
12. Shorts cuts keys
Function keys in Microsoft Other than Function Keys
Excel Enter data by using shortcut keys
Work in cells or the formula bar by using shortcut keys
Format data by using shortcut keys
Edit data by using shortcut keys
Insert, delete, and copy a selection by using shortcut keys
Move within a selection by using shortcut keys
Select cells, columns, rows, or objects in worksheets and
workbooks by using shortcut keys
Select cells with special characteristics by using shortcut keys
Select chart items by using shortcut keys
Move and scroll on a worksheet or workbook by using
shortcut keys
Work with databases, lists, and PivotTables by using shortcut
keys
Keys for windows and dialog boxes
Print and preview a document by using shortcut keys
Outline data by using shortcut keys
Keys for toolbars
Keys for using the Office Assistant
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© 2005 IBM Corporation
- 15. Application Management Services
13. AUDITING FEATURES
Why you - Quickly find the cells referenced by a formula and/or
need to quickly find which cells reference a particular cell of
know this interest
- Select View : Toolbars : Customize from the menu
How you bar. Check the Auditing box from the Toolbars tab
use this - Click on the cell of interest
feature - Select the Trace Precedents or Trace Dependents
icon from the Auditing Toolbar
Exercise - Find the cells that references the Daily Ticket Count
for the Ansan store
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© 2005 IBM Corporation
- 16. Application Management Services
14. SORT COMMAND
Why you - Correctly sorting a series of rows or columns
need to without disassociating the data is critical to many
know this modeling efforts
- Select all cells in the data range to be sorted
How you - Select Data : Sort from the menu bar
use this
feature
Exercise - Sort the dataset by ascending store name
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© 2005 IBM Corporation
- 17. Application Management Services
15. IF FUNCTION
Why you - Conditional comparisons are used in virtually all
spreadsheets
need to
- Knowing how to use IF in a nested manner and in
know this combination with other functions will save hours of time
- IF(Comparison,TrueAction,FalseAction)
How you - IF(Comparison,TrueAction,) ==> Cell shows 0 if
use this condition is false
feature - IF(Comparison,TrueAction,””) ==> Cell shows blank
if condition is false
- Create a “Seoul” variable
Exercise 1 if the store is in Seoul
0 if the store is in other places
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© 2005 IBM Corporation
- 18. Application Management Services
16. SUM AND SUMIF FUNCTIONS
Why you - SUM is used in virtually all spreadsheets
need to - SUMIF can save lots of time in most spreadsheets if
know this you know how to use the function
- SUM(Range1,Range2,Value1,…)
How you - SUMIF(Range,”Comparison”,SumRange)
use this If a SumRange IS NOT specified, SUMIF sums the cells
feature meeting the Comparison criteria in the specified Range
If a SumRange IS specified, SUMIF sums the cells in
SumRange where the corresponding cells in Range
meets the Comparison criteria
- NOTE: The “” signs must be used for the
Comparison value
- Calculate the total store space for stores larger than
Exercise 50 pyungs
- Calculate the total daily sales for all stores larger
than 50 pyungs
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© 2005 IBM Corporation
- 19. Application Management Services
17. AND & OR FUNCTIONS
Why you
- Used with the IF function to enable more complicated
need to
logical comparisons
know this
How you - AND(Comparison 1,Comparison2,Comparison3,…)
use this - OR(Comparison 1,Comparison2, Comparison3,…)
feature
- Create a variable that calculates daily sales per
Exercise pyung only for:
KFC stores in Seoul with size larger than 50 pyung
All BK stores
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© 2005 IBM Corporation
- 20. Application Management Services
18. PROTECTING CELLS AND WORKSHEETS
- Sometimes you want to give your Excel file to someone else
Why you and prevent them from changing the formulas for seeing some
need to hidden cells
know this
- Protecting a spreadsheet or workbook involves two steps
How you Designating which cells to be locked or hidden
use this Protecting the spreadsheet or workbook
feature - Note several weird peculiarities:
The default for all cells in a spreadsheet if LOCKED. So if you
want the receiver of your worksheet to change the content of a
cell, unlock the cell before protecting the spreadsheet
The formulas in a cell can be seen even if the spreadsheet is lock -
- UNLESS you hide that cell before protecting the spreadsheet
- To lock/unlock and hide/unhide a cell, select the cell(s) and
select Format : Cell. Select the Protection tab when the dialog
box appears
- To protect/unprotect a spreadsheet, select Tools : Protection :
Protect Sheet
Exercise - Protect the dataset spreadsheet
Allow the user to change the data
Lock and hide the formulas you entered
19
© 2005 IBM Corporation
- 21. 19. GROUP/UNGROUP PARTS OF
Application Management Services
SPREADSHEETS
- How often would you like to hide or unhide parts of a
Why you complex spreadsheet?
need to - If your answer is “very often”. You will like to
know this group/ungroup function instead of the hide/unhide
command, since you will be able to toggle between
hidden or displayed columns or rows.
- Mark the row or column that you would like to “fold”,
How you I.e. hide for the moment.
use this - Click on Data: Group and Outline: Group
feature - To “fold” click now on the “minus” sign outside of
your column or row
- You may also group or ungroup hierarchically
- Group some parts in your spreadsheet
Tip - Also try to remove the grouping
- Use the two “arrow” buttons, which you find on the
Exercise pivot table toolbar (right click on any toolbar and select
PivotTable)
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© 2005 IBM Corporation
- 22. Application Management Services
20. SUBTOTALS FUNCTIONS
- Want to add lines with subtotals in your P&L or
Why you balance sheet, but still need to run the total over all
need to numbers? Don‟t want to get confused with nested
know this subtotals and totals in your spreadsheet?
- Instead of „=sum(range)‟ add „=subtotal(9, range)‟
How you where you need a subtotal or total.
use this - You may nest this function as you like. Excel keeps
feature track of everything
- Create a simple column with various numbers
Exercise - Add various subtotals running over various parts of
your spreadsheet and finally over the whole column
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© 2005 IBM Corporation
- 23. Application Management Services
21. SUMPRODUCT FUNCTION
Why you
- If you need to multiply two column and need the sum
need to
of the multiplication, sumproduct comes easy.
know this
How you
use this - Insert =sumproduct(range1, range2)
feature
Exercise - Multiply two columns or rows and get the sum of it
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© 2005 IBM Corporation
- 24. Application Management Services
22. AUTOFILTER COMMAND
Why you - You have a huge pile of data and quickly want to find
need to some specific information, e.g. all sets that meet a
know this criteria or the top 10 items etc.
- Click into your table or better mark the data area and
How you select Data: Filter: Autofilter
use this - Using the drop-down boxes per item allows you to
feature display only specific filtered information
- Selecting multiple matches (up to 3 maximum with
autofilter) you can narrow down your search
- Or add your own criteria for filtering by clicking on
the custom criteria
- Find the stores who belong to the top 10% in terms of
Exercise average sales per ticket AND the top 10 in terms of store
size in pyung
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© 2005 IBM Corporation
- 25. Application Management Services
23. CONDITIONAL FORMATTING
Why you - Sometimes you would to color the output of cells in
need to different colors, e.g. negative numbers in red, positive
know this numbers in black, or add a frame, etc.
- Mark the relevant fields and select Format:
How you Conditional Formatting
use this - Select the criteria for the format and adjust the format.
feature You can actually change the font, the border and the
color
- Click on Add to select additional criteria for the
formatting
- Format a cell to be in red font, with blue background
Exercise for negative numbers and in bold font with thick border, if
the value is above 10
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© 2005 IBM Corporation
- 26. Application Management Services
24. COUNT FUNCTIONS
Why you
- Prevents you from wasting time counting items
need to
manually or creating dummy variables to count such
know this items
- COUNT(Range1,Range2,Value1,...) ==> count the
How you number of cells containing numbers
use this - COUNTA(Range1,Range2,Value1,...) ==> count the
feature number of non-empty cells
- COUNTBLANK(Range) ==> count the number of
empty cells in the range
- COUNTIF(Range,”Criteria”) ==> count the number of
cells in the Range containing the Criteria. NOTE: The “”
signs must be used for the Criteria value
Exercise - Calculate the number of KFC stores in the dataset
25
© 2005 IBM Corporation
- 27. Application Management Services
25. ROUND, ROUNDUP AND ROUNDDOWN
FUNCTIONS
Why you - Many situations exist when you need to have exact
numbers instead of various fractions in your
need to
calculations (e.g., there cannot be 536.235 bank
know this branches)
- ROUND(Number,Digits) ==> Round the number (or
How you cell) to the specified number of digits
use this
If Digit = 0, then Number is rounded to nearest integer
feature
If Digit > 0, then Number is rounded to the specified
number of decimal places
If Digit < 0, then Number is rounded to the specified
number of digits left of the decimal place
- ROUNDDOWN(Number,Digits) and
ROUNDUP(Number,Digits) work the same way as
ROUND, but the direction of rounding is specified by the
function
Exercise - Calculate a rounded Avg Sale/Ticket variable,
rounding to the nearest 10 Won
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© 2005 IBM Corporation
- 28. Application Management Services
26. VLOOKUP AND HLOOKUP FUNCTIONS
(CONTINUED)
- Allows you to automatically lookup a particular cell
Why you of data from a larger data range. This is especially
need to useful when you have
know this A large data section that contains information for
multiple records somewhere on the spreadsheet (e.g., a
small database)
A calculation area somewhere else, and you need to
refer to some specific data elements for specific
records
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© 2005 IBM Corporation
- 29. 26. VLOOKUP AND Services
Application Management
HLOOKUP FUNCTIONS
(CONTINUED)
- VLOOKUP and HLOOKUP allows you to find a specific cell of
How you data in a larger data range
use this Use VLOOKUP when each row contains a separate record and the
feature associated columns contain data for that one record
Use HLOOKUP when each column contains a separate record
- VLOOKUP(SearchValue,Range,ColumnNumber,Error) ==>
look for a value in the row specified by SearchValue and the
column specified by ColumnNumber
SearchValue indicates the “match key” (i.e., find the row that
contains the SearchValue in the first column)
Range specifies the cells containing the data
ColumnNumber specifies the column that contains the data
element you want
Error determines what happens when Excel does not find the
exact SearchValue you want. FALSE leads Excel to display a
#N/A when an exact match cannot be found. TRUE leads Excel
to display the next smaller value than SearchValue
- HLOOKUP(SearchValue,Range,RowNumber,Error) ==> look
for a value in the column specified by SearchValue and the row
specified by RowNumber
NOTE: The 1st column of data must be sorted in
ascending order when using VLOOKUP, and the 1st row
of data must be sorted if using HLOOKUP
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© 2005 IBM Corporation
- 30. 26. Application Management Services
VLOOKUP AND HLOOKUP FUNCTIONS
(CONTINUED)
- Define a name for the cells containing the data and
use that name as the Range. Do not include the
Tip row/column label in the named range because this would
break the ascending sort rule above.
- Insert an extra row above your column label to
number the columns
- Use VLOOKUP to find out how many seats are in the
Exercise Duksung store? How passers-by for the store?
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© 2005 IBM Corporation
- 31. Application Management Services
26. VLOOKUP AND HLOOKUP FUNCTIONS
Number the
columns to Define a
easily check name for
your cells in your
formulas data Range
Need to sort in
ascending order
for VLOOKUP
function to work
properly
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© 2005 IBM Corporation
- 32. Application Management Services
27. STATISTICS
Why you
need to
- Calculates various statistics. Regarding data such as
average, high, low, standard deviation, etc. for a set of
Know this
numbers.
How you - In order to calculate statistics in Excel, you will need
to add a piece of software that comes with the standard
use this
version of Excel. To use this add-in, go to the Tools menu
feature in Excel and select Add-Ins. Then , when prompted, select
the Analysis Tool Pack and press OK. This will add to the
bottom of your Tools menu as item named Data Analysis.
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© 2005 IBM Corporation
- 33. Application Management Services
28. PIVOT TABLES
- Most powerful tool to arrange huge amounts of data in a more
Why you structured way than pure sorting. In particular helpful to run quick
need to sums, averages, distributions, etc. in combination with a structure
know this criteria, e.g. total number and average sales per store size band
- Select Data: PivotTable Report…
How you
use this
feature
Step 2: Select - Step 3: Drag and drop data
Step 1: Microsoft
the relevant elements on row and column (this is
Excel list
data area your table structure), the data you want
to analyze on the data area
- Step 4: Just press Finish
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© 2005 IBM Corporation
- 34. Application Management Services
28. PIVOT TABLES
- Draw a distribution chart for the number of stores per
size in pyung bucketed each 10 pyung wide
Exercise - Arrange the store distribution by store size (each 10
pyung) and daily tickets (each 100 tickets) and show the
number of stores per each category
33
© 2005 IBM Corporation
- 35. Application Management Services
29. ATTACH FILE WITH EXCEL SHEETS
Why you - Keep working sheets with main file
need to
know this
- Click Insert from tools Bar
How you - Select Object……
use this - Create from file >>>>>>>>> Browse
feature – Link to file
– Display as icon
Exercise - Insert one file into another Excel file
34
© 2005 IBM Corporation
- 36. Application Management Services
30. NPV FUNCTION
Why you - Of course you can create your own discounting table
need to and then calculate the NPV of your cash flow series or
know this just use the NPV function
- Insert =NPV(discount rate, cash flow numbers, ...)
How you - The discount rate is in percent
use this - The cash flow numbers are either an array or
feature individual numbers in individual cells
- Attention: The first cash flow number is in period 1,
e.g. the end of the period. If you have for example an
initial investment in period 0, just type =NPV(…)+period 0
payment in your calculation
Exercise - Create a list of random cash flows and calculate the
NPV with the NPV function
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© 2005 IBM Corporation
- 37. Application Management Services
Thanks a lot……….
CA Aditya Singhal
M.Com, FCA, DISA(ICAI)
+91 93412 41747
Aditya.singhal@icai.org
Join Excel professional group for regular Excel update:
http://tech.groups.yahoo.com/group/Excel-Professional/
36
© 2005 IBM Corporation