EXCEL ENVIRONMENT
1 EXCEL: EDIT DIRECTLY IN CELL
It is preferable to edit formulae in the formula bar rather than within each cell.
Excel 2003: Tools Options
Edit
Excel 2007: Office Button
Excel Options
Excel 2010: File tab
Un-tick
Excel Options
‘Edit directly in cell’
Advanced
Advanced
Un-tick ‘Allow editing directly in cells’
Un-tick ‘Allow editing directly in cells’
2 EXCEL: MOVE SELECTION AFTER ENTER
The default setting is fine for data entry, however modellers should review formulae they have written and will often copy it
across a time series.
Excel 2003: Tools
Excel 2007: Office Button
Excel 2010: File tab
Options
Edit
Un-tick ‘Move selection after Enter’
Excel Options
Excel Options
Advanced
Advanced
Un-tick ‘After pressing Enter, move selection’
Un-tick ‘After pressing Enter, move selection’
3 EXCEL: MACRO SECURITY
It is important to be ‘informed’ when opening a workbook containing macros. However, as many models make appropriate use
of macros it is unhelpful to block macro use completely. Therefore ‘medium’ macro security is the recommended setting.
Excel 2003: Tools
Macro
Security
Select ‘Medium’
In Excel 2007, the equivalent to the Excel 2003 ‘Medium’ setting is selected by default, but many Macro options and tools are
also ‘hidden’ by default which may hinder productivity; enabling the ‘Developer tab’ un-hides these options.
Excel 2007: Office Button
Excel 2010: File tab
Excel Options
Excel options
Popular
Tick ‘Show the Developer tab in the Ribbon’
Customize the ribbon
Tick Developer tab
4 EXCEL: ANALYSIS TOOLPAK
A number of important functions are ‘non-standard’ in Excel 2003 and only work if the ‘Analysis ToolPak’ add-in is installed,
Excel 2007 has the ToolPak integrated into the default function library so the following does not apply to Excel 2007.
It is always possible to tell if you are constructing a formula containing an ATP function as no ‘in-line function help’ is provided by
Excel 2003 as the formula is typed. Where a user attempts to open a model containing ATP functions, but does not have the ATP
add-in selected, ATP functions will return #NAME instead of a the desired value. ATP functions, unlike standard functions, do not
automatically translate when opened in another language version of Excel and require manual ‘search and replace’ translation.
Excel 2003: Tools
Add-Ins
Tick ‘Analysis ToolPak’
Note: This may require original MS Office installation disc.
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EXCEL ENVIRONMENT
5 EXCEL: MENU / RIBBON CONFIGURATION
The default setting in Excel 2003 is to show a short menu, and expand the menu after a short pause.
This is not appropriate for the needs of financial modellers.
Excel 2003: Tools
Customise
Options
Tick ‘Always show full menus’
By contrast, Excel 2007 clutters the user interface with the Office Ribbon, which consumes valuable screen ‘real estate’.
It is preferable to hide the ribbon from view and have it ‘pop’ back when menu keystrokes are used.
Excel 2007 / 2010: Ctrl + F1
6 EXCEL: CALCULATION MODE
Generally ‘Manual calculation model’ is preferred to automatic. This is to allow modellers to maintain control over when a model calculates—generally wishing to be ‘looking at something of interest’ (i.e. an output) to see the impact of the recalculation.
Excel 2003: Tools
Options
Excel 2007: Office Button
Excel 2010: File tab
Calculation
Excel Options
Excel Options
Select ‘Manual’
Formulas
Formulas
Select ‘Manual’
Select ‘Manual’
Note: Though the setting affects the entire environment, and not a setting specific to individual workbooks, the setting is
stored in each individual workbook you save. The setting Excel then chooses for its initial position during any instance of an
Excel environment is the setting defined in the first workbook loaded by that instance.
7 WINDOWS EXPLORER: FILE EXTENSIONS
This issue is particularly important with the advent of Excel 2007, which supports four different types of Excel document, all
with remarkably similar file icon. It is important for a modeller to know exactly what type of file they are contending with.
Windows XP: Tools
Folder Options
View
Untick ‘Hide extensions for known file types’
8 Windows Explorer: Details view
The default Windows Explorer “icons view” offers little specific file information. “Details view” provides information on file
size, type and crucially, it displays the “Date Modified” date and time information.
Windows XP: View
Details
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