Microsoft Office Tutorials and References

In Depth Information

**Important Tools for Any Business**

The target is the three-letter ISO code that represents

the basic unit currency for a particular countr y that you

want the source to convert to.

TARGET

Full precision is the logical value of True or False that

tells Excel how to round. If True, it then refers to the

number for triangulation precision. If False, it defaults to

two spaces.

FULL_PRECISION

Is the number of decimal digits to round to. It’s activated

if the Full Precision argument is True. If omitted, Excel

does not round the Euro value.

TRIANGULATION PRECISION

Figure 2.22

Use the
EUROCONVERT

function to convert

Euro currencies from

one European Union to

another.

Applying a Named Range to Formulas

When you have ranges that you often refer to when using formulas, you may want to consider

using a named range to represent the range. What does this mean? Let’s say you have a range

from A1:A100 that represents months in a year. You could apply a name to the range and call

it Months. Now, when you write a formula, you can paste the named range in the formula to

represent the range A1:A100. For example, in a
SUMIF
formula as shown in Figure 2.23, the

formula in cell J6 shows the
SUMIF
formula using range referencing, while the formula in cell

J8 is the same formula, however, named ranges are created to replace the cell ranges. To

apply a named range follow these steps:

1.
Select the range to which you want to apply a name.

2.
From the Insert menu, select Name then Define.

3.
Under Names in workbook, type the name of the range. If it’s a couple of words, space

the words using underscores.

4.
Click Add.

5.
Click OK.