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Excel 2003
Reference Sheet

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CTRL Shortcuts
CTRL + A CTRL + B CTRL + C CTRL + C, ALT E+S CTRL + D CTRL + F CTRL + G CTRL + H CTRL + I CTRL + K CTRL + N CTRL + O CTRL + P CTRL + R CTRL + S CTRL + U CTRL + V CTRL + W CTRL + X CTRL + Y CTRL + Z CTRL + 1 CTRL + 5 CTRL + 7 CTRL + 9 SHIFT + CTRL + 9 CTRL + 0 SHIFT + CTRL + 0 CTRL + ~ CTRL + CTRL + ; SHIFT + CTRL + : CTRL + [ CTRL + ] CTRL + Enter Select All Bold Copy Paste Special Fill Down Find Go to Replace Italic Insert Hyperlink New Workbook Open File Print Fill right Save workbook Underline Paste Close window Cut Repeat Undo Format Box Strike-through Hide/show toolbar Hide row Unhide row Hide column Unhide column Show formulas/values Copy above formula Display date Display time Precedents Dependents Fill selection w/ entry

Formatting Shortcuts
ALT + CTRL + 1 SHIFT + CTRL + ~ SHIFT + CTRL + ! SHIFT + CTRL + @ SHIFT + CTRL + # SHIFT + CTRL + $ SHIFT + CTRL + % SHIFT + CTRL + ^ SHIFT + CTRL + & SHIFT + CTRL + _ SHIFT + CTRL + * Tools > Customize > Options Display style Format Box General format Number format Time format Date format Currency format Percentage format Exponential format Outline border Remove border Select region Show full menus

Navigation and Data Editing

Arrow keys ALT + ALT + Tab CTRL + Pg Up/Down CTRL + Tab CTRL + Arrow keys SHIFT + Arrow keys SHIFT + CTRL + Arrow keys Home CTRL + Home F5 ENTER SHIFT + ENTER TAB SHIFT + TAB Move to new cells Display a drop-down list Switch programs Switch worksheets Switch workbooks Go to end of contiguous range Select a cell range Highlight contiguous range Move to beginning of row Move to cell A1 Go to Move to cell below Move to cell above Move to cell to the right Move to cell to the left Delete cell and get inside Delete cell/selection Edit/ highlight dependent cells Start new line in same cell Highlight within cells Highlight contiguous items Delete preceding character Delete character to the right Anchor Fix Cells Cancel a cell entry Spell check Insert a comment Name a cell

Columns and Rows

SHIFT + Spacebar CTRL + Spacebar SHIFT + ALT + SHIFT + ALT + CTRL + Minus sign SHIFT + CTRL + Plus Sign Highlight row Highlight column Group rows/columns Ungroup rows/columns Delete selected cells Insert blank cells

BACKSPACE DELETE F2 When inside cell ALT + ENTER SHIFT + Arrow keys SHIFT + CTRL + Arrow keys BACKSPACE DELETE

Function Key Shortcuts

F1 F2 F3 F4 F5 F6 F7 F8 F9 F10 Excel Help Menu Edit cells Paste Name Repeat or anchor cells Go to Next pane in split mode Spell check Anchor to highlight Recalculate workbooks Activate menu bar New chart Save as Insert a comment Insert Function Box Find Next Find Previous pane Add to selection Calculate active sheet Display shortcut menu New worksheet Name a cell Close window Minimize workbook Maximize window Open File Minimize program Windows explorer

F4 ESC F7 SHIFT + F2 CTRL + F3

Formulas and Auditing

= (equals sign) SHIFT + F3 ALT + = CTRL + (apostrophe) SHIFT + CTRL + (quote) CTRL + ~ F9 Auditing formulas ALT + T + U + T ALT + T + U + D ALT + T + U + A CTRL + [ CTRL + ] SHIFT + CTRL + { SHIFT + CTRL + } F5 + Enter Trace immediate precedents Trace immediate dependents Remove tracing arrows Go to precedent cells Go to dependent cells Trace all precedents (indirect) Trace all dependents (indirect) Go back to original cell Start a formula Display Insert Function box Insert AutoSum formula Copy formula from above cell Copy value from above cell Show formulas/values Recalculate all workbooks

ALT Shortcuts
ALT + Tab ALT + ALT + T + O ALT + T + I ALT + E + S ALT + E + S + T ALT + W + S ALT + W + F ALT + E + M ALT + E + L ALT + V + Z ALT + O + C + A ALT + O + H + R ALT + E + A ALT + F + V ALT + F4 ALT + F8 ALT + F11 Switch program Display style Options Menu Add-Ins Menu Paste special box Paste format only (Un)split panes (Un)freeze windows Move/ Copy a sheet Delete worksheet Change view sizing Fit column width Change tab name Clears cell Print preview Close program Macro box Visual basic editor

F11 F12 SHIFT + F2 SHIFT + F3 SHIFT + F4 SHIFT + F5 SHIFT + F6 SHIFT + F8 SHIFT + F9 SHIFT + F10 SHIFT + F11 CTRL + F3 CTRL + F4 CTRL + F9 CTRL + F10 CTRL + F12 Windows Flag + D Windows Flag + E

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Excel 2003
Reference Sheet

Frequently Used Formulas

Perpetuity Formula Perpetuity = Cash Flowt+1 (Cost of Capital Growth Rate) Discounting (PV) of a Cash Flow DCF = Cash Flowt (1 + i)^(period t) Cost of Equity Cost (K)Equity = Rf + (Risk PremiumMarket) Weighted Average Cost of Capital WACC = KDebt* (1-Tax Rate) *

Recording a Macro
Example: Create a macro to insert borders at the bottom of cells 1. Place the cursor in the desired cell. 2. Hit Alt t m r (Tools Macros Record Macro) 3. Input macro name (Border) and shortcut key (Ctrl Shift B). As soon as you hit OK, you are starting to record this macro. 4. When finished inserting a bottom border (using Ctrl 1) in the desired cell, hit Alt t m r to Stop Recording the macro. 5. Try going to any cell or a range of cells and hitting Ctrl Shift B

D D+E

+ KEquity *

E D+E

Compound Annual Growth Rate (CAGR) CAGR = Ending Value ^ (1/No. of Periods) - 1 Beginning Value

Data Table
Example: Create a data table that will output 2005 EPS based on a range of 2005 revenue growth and EBIT margin assumptions 1. Input a range of revenue growth rates in a column (as pictured) 2. Input a range of EBIT margins in a row (as pictured) 3. Reference 2005 EPS (the output variable) from model into the cell between the input row and input column as illustrated below 4. Highlight the matrix 5. Type Alt d t (Data Table) 6. Reference the row input variable from the model (2005 EBIT margin is the row input variable) 7. Reference the column input variable from the model (2005 revenue growth is the column input variable) 8. Hit Enter

Data Validation
Example: Create a list 1. Enter data to be in list (A3:A5) 2. Go to cell to be validated (A7) 3. Type Alt d l (Data Validation) 4. Click the Settings tab to specify List 5. Input Source info (=$A$3:$A$5) and hit OK

Customizing a Number Format

Custom formatting defines the format for positive numbers, negative numbers, zero values, and text, in that order: <Positive>;<Negative>;<Zero>;<Text> Example: [Blue]0.0x;[Red](#,##0.00);"OK!";"Analysis of" @

Iterations and Circularity

Example: Inserting a circularity breaker toggle in a model; Insert an IF statement to modify the interest expense formula to incorporate the circularity breaker, such that if it is turned on, the interest expense becomes zero, breaking the circularity Go to: Tools > Options (Alt t o) > Calculation tab Ensure the Iteration box is checked for 100 iterations as illustrated.

EnterorResult: 12 1000 0 Colgate

Values: Ifpositive,then Ifnegative,then Ifzero,then Iftypedtext,then

Displayed: 12.0x (1,000.00) OK! AnalysisofColgate

Application: Showingmultiples Expenses BalanceSheetCheck ModelHeading