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#0201: Used in Financial Modeling and Tax Computation
§ Used in Tax Computations & Financial Models to prevent choosing of negative
numbers for subsequent calculations.
§ E.g. =MAX(0,A1) chooses 0 or value in cell A1, whichever is higher
§ E.g. Penalty for late deposit = higher of 2% of dues or Rs.100

§ Used in logics such as “lower of the two numbers” in the area of Tax
Computations, specific areas of Financial Engineering
§ =MIN(A1:A5) is same as =SMALL(A1:A5,1)

#0202: Used in pricing discovery processes

§ Auction such as highest bid value, second highest bid value and so on. E.g. H2 will
be =LARGE(A1:A5,2)

§ Vendor evaluation such as lowest bid value L1, second lowest bid value L2 and
so on. E.g. L2 will be =SMALL(A1:A5,2)

#0203 – 0204: For rounding numbers

§ "num_digits" signifies “number of decimal digits”. E.g. For the starting number
52.233 – “2” implies 52.23, “1” implies 52.20, and 0 implies 52.00
§ =ROUND(A1/50, 0) * 50 [implies nearest 50] – same technique also
applicable with ROUNDUP & ROUNDDOWN

§ E.g. Cell A1 = 5344.2

§ =ROUND(A1/10,0)*10 = 5340.0

§ E.g. Cell A1 = 5349.2

§ =ROUNDDOWN(A1/10,0)*10 = 5340.0

§ E.g. Cell A1 = 5342.2

§ =ROUNDUP(A1/10,0)*10 = 5350.0

§ MROUND() do not work with +/– nos. simultaneously AND it does not accommodate the logic of round up and round
down.

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 #0205: For Counting

§ Counts the number of cells which have numeric value

§ Counts the number of cells which IS NOT a blank (i.e. numbers, alphabets,
alphanumeric, space)

§ Counts the number of cells which IS a blank

§ COUNTIF() and COUNTIFS() will be discussed later in the book. COUNTIFS() is a logic based cell counting mechanism

#0206 – 0207: For Weighted Average & Compounding/Discounting

§ Multiplies corresponding cells in two or more ranges and returns the sum of
those products. E.g. =SUMPRODUCT(A1:A2,B1:B2) = (A1*B1) + (A2*B2)
§ The array arguments must have the same dimensions. E.g.
=SUMPRODUCT(A1:A2,B1:B3) is invalid
§ Used with =SUM() for computing weighted average
§ Was used to create condition–based sum logic before SUMIFS() was introduced

§ Used in Financial Modeling – discounting cash flows, compounding

§ Caret sign ( ^ ) is a perfect substitute. E.g. 25 =POWER(5,2) and is same as =5^2

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#0703: Extracting date information through formulas - DAY(), MONTH(), YEAR(), DATE()

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Compiles the three components – Year, Month, Day in a date value

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#0708: Date Formulas - TODAY() and NOW() w. Shortcut

§ Returns the current date as per PC’s system clock

§ Updates every time the file is opened (dynamic)
§ Ctrl + ; and press Enter - for inserting current date (static)
§ Returns the current date and time as per PC’s system clock
§ Updates every time the file is opened (dynamic)
§ Ctrl + Shift + ; and press Enter - for inserting current time (static)

#0709: Date Formulas - EOMONTH() for Financial Modeling, Budgets, Due Dates

§ Returns the last day of the month before or after a specified number of
months.
§ Used for due dates computations such as 5th of next month, end of current
month
§ Used for creating timelines in Budget & Forecast models – MoM, QoQ, YoY

#0710 Date Formulas - EDATE() for Financial Modeling, Budgets, Due Dates

§ Returns the date that represents the indicated number of months before or
after the start date. E.g. 60 days vs. 2 months
§ Used for computing 3 months’ notice period end date, retirement age,
probation period, contract deadline, EMI installment due date

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#1120 – 1121: SUMIFS(): Conditional Summation

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§ Solution: 28,000

Note:
(1) Use <F4> to lock Criteria_range & Sum_range
(2) Maintain SAME HEIGHT of RANGES
(3) SUMIFS can accept multiple criteria (127 !) whereas SUMIF can accept only one

#1122: SUMIFS(): Conditional Summation (3 criteria) w. date range

§ If cell A1 contains “21-May-2001”, then the Criteria_1 can be “>=”&A1 indicating date 21-May-2001 onwards. The
operators (> < = etc.) has to be enclosed in a pair of double-quotes and concatenated (&) with the cell reference
containing valid date(s).

#1123: SUMIFS(): Condition based Selective Cumulative Running Total

§ Careful use of relative references ($) can help yield differential cumulative running total

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#1124: COUNTIFS() - Single/Multiple Criteria: Duplicate Count, Instance No.

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§ Solution: 2
§ Used for 2-way list-reconciliation, duplicate count E.g. =COUNTIFS($A$1:$A$100,A1)
§ Used for Instance No./Occurrence No. =COUNTIFS($A$1:A1,A1)

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#1201 – 1206: Text Formulas – UPPER(), PROPER() & LOWER(); TRIM(), VALUE(), T(), N(), REPT()

· Capitalizes the first letter in each word of a text value

· E.g. Converts “the man eats” or “THE MAN EATS” TO “The Man Eats”

· Converts text to uppercase

· E.g. Converts “the man eats” or “The Man Eats” TO “THE MAN EATS”

· Converts text to lowercase

· E.g. Converts “The Man Eats” or “THE MAN EATS” TO “the man eats”

· Removes excess spaces from text. Removes all leading & trailing
spaces. However, multiple spaces inside the sentences are replaced
with a single space.
· E.g. Converts “ HSBC Inc. ” TO “HSBC Inc.”

· Returns the number of characters in a text string

· E.g. AK 47 =LEN( )=5

· Converts “a number stored as text” to a number

· “a number stored as text” is recognized as 0 for computations

· If value is or refers to text, T returns value. If value does not refer to

text, T returns "" (empty text).

· Converts a Value to a Number in Excel. For text, it yields zero.

· Used to leave in-cell comments. E.g. =SUM(B1:B2) + N("This is my
comment – Hello World")

· Repeats a string / character specified no. of times

· E.g. =REPT(“X”,3) will yield XXX

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#1207: Joining data strings using CONCATENATE, &

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Note:

§ Both of the above approaches yield the SAME output

§ Any external text, number, symbol must be enclosed in a pair of double quotations. E.g. “ ”
§ =TEXT() may be used if combining Dates. E.g. =”Today’s date is ” & TEXT(A2,“dd-mmm-yy”)

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#1219-1221: LEFT(), RIGHT(), MID()

§ Extract specified no. of characters from left, right or mid

§ “characters” Includes space

#1219-1221: SEARCH() vs. FIND()

§ Yield the starting position of the criteria

§ Case Sensitive? – No
§ Can use wild characters in search terms? - Yes

§ Case Sensitive? – Yes

§ Can use wild characters in search terms? - No

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