Fanetta Élise June 6, 2021 Spreadsheet
In a well-designed spreadsheet, any output can be calculated from the raw data. However, that‘s not always enough. Sometimes the output is fixed and the raw data is variable. Let‘s say you run an investment company and want to offer your clients a fixed return. An Excel expert could create a very complex model to calculate the likely return on investments over a fixed period. You could then calculate the internal rate of return being offered to clients. The problem is that you‘re not interested in the return offered to clients; that is, after all, fixed. Instead you‘re concerned with how much money you expect to draw from the investment fund, whilst still offering your investors a satisfactory return. If you have $1 and owe investors a quarter, you can calculate your profits using a simple formula.
Paying off your debt and becoming financially independent has many important parts. The most important of those is creating a budget. A budget gives you an outline of where your money is going and where it should go. In some instances, it can be used to create strict limits for your spending. How well you stick to the budget is up to you. When you reach the end of your budget month, the balance for the month should be 0. Funds in – Funds out = 0. If you end up with a negative number, you‘ve overspent and will need to adjust by reducing budgeted funds in another category or by reducing the total amount of money available for the next month. If you end up with a positive number, you‘ve spent less than you made. Good for you! Now, put that money to good use. Pay down some debt, or put it into savings.
You have now created a dynamic link between your Excel spreadsheet and the Word document. That is to say, any changes which you make to the spreadsheet will be reflected within your Word document. Simply right-click the embedded object in Word after editing the spreadsheet and choose ‘update link‘ to see the changes. You will also be given the option to update each time you open the Word invoice.
Unfortunately an internal rate of return is time dependent so the amount you can withdraw depends on when you take it. Suffice to say, the only way to calculate the amount you can take e.g. halfway through the life of the fund, is by trial and error. If you are evaluating a number of investment opportunities, that can be a very time consuming process. Therefore Microsoft have built the Goal Seek function to aid your spreadsheet development. Since Excel 2007, it has been available from the Data ribbon. In earlier versions of Excel, it was present from the Tools menu. It gets straight to the point. It asks you which value you would like to fix (in this case the investor‘s return), what you would like to fix it to, and asks what you would like to change. All fields can accept cell references. It will then calculate the input through trial and error.
If you wanted to make this spreadsheet into template, you would need to take two more steps. The first step would involve modifying the spreadsheet to display only the data that remains the same. If you are constantly changing certain cells, you would leave these cells formatted but blank. The last step involves saving this spreadsheet as a template. Once this is done, you would always have access to a clean spreadsheet that is formatted the way you want and ready for your modifications. Microsoft has hundreds of free templates available. You can also download templates that are already loaded in your version of Excel. They are typically located under the File/New or Office Button/New option. When downloading these business and personal templates, be sure to monitor the version of Office that the template applies to. They have templates available for all of the versions of the Office Suites.
Given this data set imagine trying to find out which Fridays you were busy at an appointment at noon while your partner was also busy at an appointment at noon and the descriptions of both of your appointments contained the phrase down town. If you are not familiar with relational databases and SQL it might surprise you to know that the question can be answered by a single simple SQL query. The database and SQL don‘t have it all their own way however. Spreadsheets come in to their own for tasks that benefit from a visual representation. Traditionally databases do not provide a visual way to browse the data in tables without explicitly requesting data.
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