There are many useful functions in Excel. You should become familiar with the ones most useful to you. For example, financial analysts should learn the financial functions. But here are a few that everyone should know. (By the way, I capitalize the names of these functions, just for emphasis. However, they are not case sensitive. You can enter SUM or sum, for example, with the same result.)
The SUM function is probably the most used Excel function of all. It sums all values in one or more ranges.
To use the SUM function:
Enter the formula =SUM(range), where range is any range. This sums the numerical values in the range.
Actually, it is possible to include more than one range in a SUM formula, as long as they are separated by commas. (This can also be done with the COUNT, COUNTA, AVERAGE, MAX, and MIN functions discussed below.) For example, =SUM(B5,C10:D12,Revenues) is allowable (where Revenues is the name for some range). The result is the sum of the numerical values in all of these ranges combined. Note that if any cell in any of these ranges contains a label rather than a number, it is ignored in the sum.
Try it! Use the SUM function in cell B10 to calculate the total of all costs.
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