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Excel for Financial Statement Modeling

Excel Settings:

Alt T O

Formulas > Enable iterative calculations (to deal with circularities) & Workbook calculation automatic except for data tables (calculation heavy on computer in data tables)

Keyboard Shortcuts:

Use them, will be much more efficient than the mouse

Can build 3 statement model with no mouse

Will be a power user of excel when you learn the shortcuts


Formatting shortcuts      

Bold        CTRL + B

Italic       CTRL + I

Underline CTRL + U

Format Box      CTRL + 1

Copy       CTRL + C

Paste      CTRL + V

Paste Only Formats   ALT + E + S + T

Paste Only Formulas  ALT + E + S + F

Paste Only Values     ALT + E + S + V

Cut CTRL + X

Repeat    CTRL + Y

Undo       CTRL + Z

Delete cell contents  Delete

Delete all cell attributes   ALT + H + E + A

Delete cell comment ALT + H + E + M

Outline border  SHIFT + CTRL + &

Remove border SHIFT + CTRL + _

Insert a comment     SHIFT + F2


Workbook navigation shortcuts

Toggle Excel workbooks     CTRL + TAB

Split Screen      ALT + W + S (F6 to jump from pane to pane)

Freeze pane     ALT + W + F + F

New workbook CTRL + N

Print       CTRL + P

Open workbook CTRL + O (CTRL + F12)

Save workbook CTRL + S

Activate menu bar    ALT or F10

Min / Restore Ribbon CTRL + F1

Print preview   CTRL F2

Close window   CTRL + F4

Close program  ALT + F4


Other useful shortcuts    

Excel Options   ALT + F + T

Recalculate all workbooks F9

Get inside a drop-down list ALT + up/down arrow keys

Display “Insert Function” box     ALT + I + F (SHIFT F3)

Display “Name” box  CTRL F3

Enter array formula   SHIFT + CTRL + Enter


Auditing shortcuts  

Trace immediate precedents      ALT + M + P

Trace immediate dependents     ALT + M + D

Remove tracing arrows      ALT + M + A + A

Evaluate formula      ALT + M + V

Track changes  ALT + R + G

Zoom to selection     ALT + W + G

Go to precedent cells        CTRL + [

Go to dependent cells        CTRL + ]

Go back to original cell      F5 + Enter

“Go to”   F5


Tab navigation

Move/ Copy a tab     ALT + H + O + M

Change tab name      ALT + H + O + R

Moving to left/right tabs   CTRL + Pg Up/Down

New tab  SHIFT + F11

Insert worksheet       ALT + I + W


Row / column shortcuts   

Select column   CTRL + Space

Select row       Shift + Space

Delete row(s) / column(s)  CTRL + ‘minus sign’

Add row(s) / column(s)      CTRL + SHIFT + ‘plus sign’

Group / ungroup rows and columns     SHIFT + ALT + left / right arrow key

Fit column width      ALT + H + O + I


Data editing shortcuts     

Select All CTRL + A

Fill Down CTRL + D

Fill right  CTRL + R

Find CTRL + F

Replace   CTRL + H

Flash Fill  CTRL + E

Edit cells F2

Start a formula = (equal sign)

Insert AutoSum formula     ALT + “+“ (hold down ALT)


Cell navigation shortcuts 

Go to end of contiguous range    CTRL + Arrow keys

Select a cell range    SHIFT + Arrow keys

Highlight contiguous range SHIFT + CTRL + Arrow keys

Move to beginning of line   Home

Move to cell “A1”     CTRL + Home

Move to cell above    SHIFT + ENTER

Move to cell to the right    TAB

Move to cell to the left      SHIFT + TAB

Delete cell and get inside  BACKSPACE

Delete cell/selection DELETE

Show formulas/values       CTRL + ~

Fill selection w/ entry       CTRL + Enter


Data editing shortcuts when inside cell    

Start new line in same cell ALT + ENTER

Highlight within cells SHIFT + Arrow keys

Highlight contiguous items SHIFT + CTRL + Arrow keys

Delete preceding character        BACKSPACE

Delete character to the right      DELETE

Anchor “Fix” Cells     F4

Cancel a cell entry    ESC

Inspect cell values in cell edit mode    F9


Excel Utilities

Insert a pivot table   ALT + N + V

Insert a data table    ALT + D + T

Sort a table      ALT + D + S

Autofilter selection   ALT + A + T

Record a Macro ALT + L + R


Universal Shortcuts in Windows vs. Excel Shortcuts:


Universal Shortcuts in Windows

Open up windows is Microsoft sign + E

Microsoft sign + up arrow makes it bigger, down arrow smaller

In window hit tab key, cycles clockwise

Shift tab to cycle counter clockwise

Enter gets you inside file


Universal applications shortcuts      

Switching between applications  Alt Tab

“Right-click” with keyboard       Shift F10 or ‘Right click’ key

Save file  Ctrl s

Minimize all windows Windows key d

Find Ctrl f

Activate the start menu     Windows key


Windows explorer shortcuts    

Opening windows explorer Windows key + e

Closing windows explorer   Alt F4

Moving clockwise to next form field    Tab

Moving counterclockwise to next form field  Shift tab

Highlighting a folder First folder letter or arrow keys

Getting into a folder Enter

Move back up a folder level        Backspace


Adobe acrobat shortcuts 

Go to specific page   Ctrl shift n

Find Ctrl f


Office forms (dialog boxes) navigation     

To go from tab to tab        Alt tab

Go to a particular form element Alt underlined letter

Move in a list    Up and down arrow keys

To move to the next form field clockwise     Tab

To move counter clockwise Shift tab

Select ‘OK’        Enter

Select ‘Cancel’  Esc


Excel Shortcuts:

Formatting a cell

Ctrl + 1, use arrow keys to move around the tabs, when you want to dive into a tab you hit tab and then you are in the tab, can jump to an area when it is underlines by hitting Alt + the underlined letter, Shift + tab to get back to tabs, and Esc to get out of formatting

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