What's the difference between an Excel formula and an Excel function?
Technically speaking all formulas start with an equal sign.
A formula can contain cell references, hardcoded values,
it can have named ranges, and it can include functions. Functions are built in calculations that have
been given a specific name.
So for example the sum function.
This is designed to sum values in a range or multiple ranges.
Now a lot of people including myself might call the sum function the sum formula.
It happens.
Here's an example of a formula.
Here's another one.
A formula can include Math operators and comparative operators.
You can add numbers.
You can also add text to your formulas
but when you add text to a formula you need to put it in quotation marks.
As soon as you write a formula and you press Enter, Excel calculates the results.
If the values that are connected to this formula change, Excel automatically changes the result.
You don't have to refresh or do anything.
This is just a standard Excel feature but it can be turned off.
So in case you receive a spreadsheet and it looks like that calculations aren't updating it could be
that it's set to manual.
So go to the formulas tab, calculation options, and make sure you have a checkmark for automatic.
It's good practice to keep your workbooks on automatic.
Otherwise you might be reporting wrong results.
We're going to be starting off this section by covering the order of precedence when it comes to calculations
in Excel formulas.
This is important so you know how to use brackets effectively when you're writing formulas.
You'll also learn an essential rule when it comes to creating Excel spreadsheets.
What's best practice and what not to do when you create reports.
You'll get started writing simple formulas but here's the thing.
Simple formulas can also give wrong results. It's important to understand absolute and relative referencing.
What circular references mean and how to use named ranges in your formulas.
Lots of important points are coming up in this section.
So let's jump in.