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EXCELLENT EXCEL WHAT TO WATCH:
Hotkey to toggle through relative and absolute referencing
TECH DISRUPTORS Wondering what latest tech trends are here now or coming down the pike? The Watchlist from the Association of International Certified Professional Accountants is a semi-annual list of trends, technologies and possibilities. Here’s their current list:
By default, Excel uses “relative referencing” within formulas to make life easier. Relative referencing allows you to copy or move a formula to a new location and the references to other cells within the formula will automatically change relative to the new location. This is helpful if, for example, you auto-fill a cross-footing formula next to a table of amounts.
• Here now: Blockchain and artificial intelligence
On the other hand, you may not want all or part of the formula to change as you copy the formula to new locations. Locking down the part of the formula that does not change is known as “absolute referencing.” Changing to absolute referencing is done by adding a simple “$” in front of the parts of the formula that you do not want to change. For example, if you had a formula written as “=A1” you would just need to add dollar signs so it reads “=$A$1” to lock down the entire formula. Now no matter where you move the formula on the tab, it will always return the value in A1. In this example, if you wanted to just lock down the row or column, you would write the formula as “=A$1” or “=$A1,” respectively.
• Coming soon: Robotics and natural capital concerns • Disrupting eventually: Banking evolution and quantum computing If you’re curious about these trends, check out the Watchlist at tinyurl.com/Techwatchlist and click through each disruptor to learn more.
Now to the fun part. Instead of clicking into the formula and lining up your cursor in just the right locations and typing each dollar sign as needed, just click into the formula and hit the “F4” key. Excel will automatically add the dollar signs in the right locations. With practice, you will find out that each time you hit “F4,” Excel will cycle through the different referencing options in the order of: 1.) Absolute All, 2.) Absolute Row, 3.) Absolute Column, and back to 4.) Relative All. Also, if you highlight the entire formula, the “F4” hotkey will work on the whole formula at once.
GDPR and you In May 2018, GDPR went into effect. Even if you haven’t heard of it, chances are, it’s affecting you now. The General Data Protection Regulation (GDPR) is a European Union (EU) rule that regulates how personal data must be handled by businesses. Because many companies operate far outside the EU, websites and businesses with which you interact are becoming compliant. Companies must be able to explain how and why they collect data, and they must demonstrate strict security practices. As businesses work feverishly to try to prevent data theft and implement new practices like two-factor authentication, consumers will continue to see new ways businesses are securing their privacy.
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To help you recall this hotkey tip, just remember that typically “F4” is just above the “$” key. George D. Strudgeon, CPA, CGFM, is an audit director at the Virginia Auditor of Public Accounts in Richmond. Email him if you have Excel topics you want him to cover. george.strudgeon@gmail.com connect.vscpa.com/GeorgeStrudgeon
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DISCLOSURES.VSCPA.COM