Finance Pre-Work for FIN7800

Workbook

An Excel file that can contain one or more worksheets.

Worksheet

An individual sheet/tab within a workbook.

Cell address

The intersection of a column letter and row number (e.g., C8).

Name Box

Shows the address of the currently active cell.

Formula Bar

Displays the actual contents/formula of the active cell, not just what's visually shown.

in a cell

Not an error; the column is too narrow to display the value. Double-click the column border to auto-fit.

The Ribbon

Excel's main menu, organized into tabs (Home, Insert, Formulas, Data, etc.).

Backstage View

The screen shown when you click the File tab, used for open/save/print/account info.

Quick Access Toolbar (QAT)

A customizable toolbar for pinning frequently used commands so they're always one click away.

Contextual Tab

A Ribbon tab that appears only when a specific object (chart, shape, PivotTable) is selected.

AutoSave

Automatically saves a file every few seconds; only works when the file is stored on OneDrive or SharePoint.

Version History

Lets you restore an earlier saved version of a file, the only way to recover a deleted worksheet.

Save a Copy

Creates a new file while preserving the original, instead of overwriting it.

Range

A selection of more than one cell.

Edit Mode (F2)

Lets you append to a cell's existing content instead of replacing it entirely.

Accounting number format

Aligns the $ sign to the far left of the cell, shows negatives in parentheses, and zero as a dash.

Currency number format

Keeps the $ sign glued directly next to the number.

Format Painter (double-click)

Locks the Format Painter tool on so it can be applied to multiple targets before pressing Esc.

Merge & Center

Combines cells and centers text; best used only for titles, never inside a data table.

ISO date format (YYYY-MM-DD)

A date format Excel always recognizes correctly, regardless of regional settings.

Date serial number

How Excel stores dates internally, counting days starting from January 1, 1900.

Fill Handle

The small square at a selected cell's bottom-right corner; drag it to copy or extend a pattern.

Custom List

A user-defined AutoFill/sort sequence saved locally to the device.

Flash Fill (Ctrl+E)

Detects a pattern from typed examples and fills the rest of a column.

Data Validation

Restricts what can be entered into a cell, e.g., to a dropdown list of allowed values.

Cell reference (in formulas)

Pointing a formula to a cell's address instead of typing a hardcoded number.

SUM

Function that adds up all values in a range: =SUM(range).

AVERAGE

Function that calculates the arithmetic mean of a range.

COUNT

Counts only the numeric cells in a range.

COUNTA

Counts any non-empty cell (numbers and text).

AutoSum (Alt+=)

Inserts a SUM formula for Excel's best guess at the adjacent range.

Percentage change formula

(New - Old) / Old, or New/Old - 1.

PEMDAS / BODMAS

Excel's order of operations: Parentheses/Brackets, Exponents, Multiplication/Division, Addition/Subtraction.

Relative reference

A cell reference that automatically shifts when the formula is copied.

Absolute reference ($)

A cell reference locked with dollar signs so it does not shift when copied.

Mixed reference

A reference that locks only the row or only the column, letting the other move freely.

F4 key

Cycles a selected cell reference through relative, absolute, and mixed states.

Golden rule of hardcoding

Never bury a variable number inside a formula; keep it visible in a labeled cell.

IF function

Enables logical comparison to return different values based on true/false outcomes.

NAME?

IF function

=IF(logical_test, value_if_true, value_if_false) — returns one of two outcomes based on a condition.

Nested IF

Placing another IF function inside the value_if_false argument to test for more than two outcomes.

DIV/0! error

Occurs when a formula divides by zero or by an empty cell.

VALUE! error

Occurs when a formula tries to perform math on text.

REF! error

Occurs when a formula references a cell that has been deleted or moved.

IFERROR

=IFERROR(value, value_if_error) replaces an error result with a custom value.

XLOOKUP

=XLOOKUP(lookup_value, lookup_array, return_array, [if_not_found]) finds a value and returns a corresponding result.

Spilled formula

A single formula entered once that automatically fills multiple cells with results.

SPILL! error

Occurs when something is blocking the path a formula needs to spill into.

Spill range operator (#)

References an entire spilled array dynamically.

Grouping sheets

Selecting multiple sheet tabs so typing/formatting applies to all simultaneously.

[Group] indicator

Appears in the title bar to warn you that multiple sheets are currently selected.

Paste Special → Values

Pastes only the resulting values from a copied range.

Paste Special → Transpose

Flips copied data from vertical to horizontal orientation.

Three-sheet workbook architecture

Best practice: separate Raw Data, Calculations, and Report sheets.

Custom Sort (multi-level)

Data tab → Sort dialog; sorts by more than one column at once.

Sort by Custom List

Sorts in a user-defined logical order instead of alphabetically.

Toggle Filters (Ctrl+Shift+L)

Turns the dropdown filter buttons on or off.

Remove Duplicates

Permanently deletes duplicate rows based on chosen columns.

Find and Replace (Ctrl+H)

Bulk-updates text values or cell formatting.

Freeze Panes

Keeps header rows and/or columns visible while scrolling.

Focus Cell

A View-tab toggle that highlights the current cell's entire row and column.

Excel Table (Ctrl+T)

Converts a plain range into a structured, auto-expanding Table.

Structured reference

Using column names inside a Table's formulas instead of plain cell addresses.

Total Row (Tables)

A one-click summary row added to the bottom of an Excel Table.

PivotTable

A tool that summarizes large datasets into a category-based report.

PivotTable Fields pane

The panel where you drag fields into Rows, Columns, Filters, and Values.

Summarize Values By

Right-click option to change a PivotTable value's calculation type.

Show Values As

Right-click option to reframe a PivotTable value, e.g., as % of Grand Total.

Slicer

A clickable filter button that can control PivotTables.

Filter Connections

Links an existing slicer to additional PivotTables.

Refresh (PivotTable)

Updates a PivotTable's values to reflect the latest changes.

Change Data Source

Updates which range or table a PivotTable pulls its data from.

Report Layout: Compact vs Tabular

Compact nests row fields; Tabular gives each field its own column.

Conditional Formatting

Automatically formats cells based on rules you set.

Data Bars

Conditional Formatting style that turns numbers into in-cell bar visualizations.

Combo Chart

A chart that mixes two chart types, useful for comparison.

Dynamic chart title

A chart title linked to a cell via a formula so it updates automatically.

Switch Row/Column (charts)

Flips which field is on the chart's axis and which is in the legend.

Stacked Column Chart

Shows each category as one bar broken into segments.

Clustered Column Chart

Shows each category's series as separate side-by-side bars.

Protect Sheet

Restricts editing within a single worksheet.

Protect Workbook

Restricts changes to a file's structure.

Locked (cell property)

Default state of every cell that has no effect until Protect Sheet is turned on.

Note (Excel)

A static, one-directional annotation attached to a cell.

Comment (Excel)

A threaded, @mentionable annotation that can notify specific people.

Show Changes

Logs who edited what cell and when in a shared file.

Sheet View

Lets you filter/sort your own private view of a shared file.

Print Titles

A feature that repeats header rows/columns on every printed page.

Print Area

Locks in a specific range to print by default.

Microsoft Copilot (personal, free)

Standalone AI chatbot with no automatic connection to your data.

Microsoft 365 Copilot Chat (Basic)

Free work/school-account tier with web access but no automatic access.

Microsoft 365 Copilot (paid)

Full in-app Copilot for Excel/Word/PowerPoint/Outlook/Teams.

Copilot Agent Mode

Copilot mode that can directly edit your workbook.

Copilot Edit / Plan / Chat modes

Edit makes changes, Plan proposes steps for approval, Chat is no edits.

Explain this formula (Copilot)

Provides a plain-English breakdown of a formula.

Prompt Coach

Helps you write or improve prompts and troubleshoot mismatched output.

Golden Rule: don't hardcode

Keep variable numbers in labeled cells and reference them.

Golden Rule: structure before style

Keep raw data as one clean block, format for presentation separately.

Golden Rule: three-layer workbook

Raw Data, Calculations, Report, kept on separate sheets.

Golden Rule: simple beats complicated

Check if a PivotTable or structured formula solves it before complex options.