How to foot and cross-foot excel reports in a floating-point world

4 October 2013
To reduce errors in Excel reports, you should foot and cross-foot them. But Excel's floating-point arithmetic gets in the way. Here's how to get around this problem.
Mireault (2015)Developing an error-free spreadsheet has been a problem since the beginning of end-user computing.
Powell, Baker, & Lawson (2009)1% of all formulas in operational spreadsheets are in error.
Csernoch & Biro (2013)Studies have shown that there is a high incidence of errors in spreadsheets.
Ayalew (2007)A significant proportion of spreadsheets have severe quality problems.
Caulkins, Morrison, & Weidemann (2006)People tend to believe their spreadsheets are more accurate than they really are.
Chadwick (2002)Spreadsheet errors... a great, often unrecognised, risk to corporate decision making & financial integrity.
Nixon & O'Hara (2010)Spreadsheet errors are still the rule rather than the exception.
Howard (2005)Spreadsheets... pose a greater threat to your business than almost anything you can imagine.
Galletta, et al (1993)Even obvious, elementary errors in very simple, clearly documented spreadsheets are... difficult to find.
Panko (1999)Every study, without exception, has found error rates much higher than organizations would wish to tolerate.
Abreu, et al (2015)Spreadsheets can be viewed as a highly flexible programming environment for end users.
Sakal, et al (2015)Overconfidence is one of the most substantial causes of spreadsheet errors.
Nixon & O'Hara (2010)It is now widely accepted that errors in spreadsheets are both common and potentially dangerous.
Panko (2007)The issue is not whether there is an error but how many errors there are and how serious they are.
Sajaniemi (1998)The results given by spreadsheets are often just wrong.
Rust, et al (2006)Spreadsheets have a notoriously high number of faults.
Burnett & Myers (2014)The software that end users are creating... is riddled with errors.
Abraham, et al (2005)Spreadsheets contain errors at an alarmingly high rate.
Bock (2016)Spreadsheet development must embrace extensive testing in order to be taken seriously as a profession.
Panko (2013)It is irrational to expect large error-free spreadsheets.
Irons (2003)Spreadsheet errors are pervasive, stubborn, ubiquitous and complex.
Kulesz & Ostberg (2013)Spreadsheets are more fault-prone than other software.
Panko & Ordway (2005)Most large spreadsheets have dozens or even hundreds of errors.
Dunn (2010)Spreadsheets are extraordinarily and unacceptably prone to error.
Chen & Chan (2000)Spreadsheets are easy to use and very hard to check.
Bishop & McDaid (2007)The quality and reliability of spreadsheets is known to be poor.
Beaman, et al (2005)Errors in spreadsheets... result in incorrect decisions being made and significant losses incurred.
Cunha, et al (2011)Spreadsheets are notoriously error-prone.
Kruck & Sheetz (2001)...few incidents of spreadsheet errors are made public and these are usually not revealed by choice.
Murphy (2007)60% of large companies feel 'Spreadsheet Hell' describes their reliance on spreadsheets.
Hermans & van der Storm (2015)Spreadsheets are the most popular live programming environments, but they are also notoriously fault-prone.
Price (2006)The untested spreadsheet is as dangerous and untrustworthy as an untested program.
Panko (2015)Research on spreadsheet errors is substantial, compelling, and unanimous.
Ross (1996)A lot of decisions are being made on the basis of some bad numbers.
Abraham & Erwig (2007)Spreadsheet errors have resulted in huge financial losses.
Mireault & Gresham (2015)Spreadsheets are often hard, if not impossible, to understand.
Miller (2005)Untested spreadsheets are riddled with errors.
Caulkins, Morrison, & Weidemann (2008)Spreadsheets are commonly used and commonly flawed.
Reschenhofer & Matthes (2015)Spreadsheet shortcomings can significantly hamper an organization's business operation.
Krishna, et al (2001)Programmers exhibit unwarranted confidence in the correctness of their spreadsheets.
Abreu, et al (2015)Despite being staggeringly error prone, spreadsheets are a highly flexible programming environment.
Teo & Tan (1999)Most executives do not really check or verify the accuracy or validity of [their] spreadsheets...
Paine (2001)Spreadsheets are alarmingly error-prone to write.
Panko & Halverson (1996)Every study that has looked for errors has found them... in considerable abundance.
Caulkins, Morrison, & Weidemann (2006)Your spreadsheets may be disasters in the making.
Colbenz (2005)Errors in spreadsheets are as ubiquitous as spreadsheets themselves.
Raffensperger (2001)Never assume a spreadsheet is right, even your own.
Panko (2014)Despite overwhelming and unanimous evidence... companies have continued to ignore spreadsheet error risks.
Panko (2008)94% of the 88 spreadsheets audited in 7 studies have contained errors.
Durusau & Hunting (2015)Spreadsheets are dangerous to their authors and others.
To reduce errors in Excel reports, you should foot and cross-foot them. But Excel's floating-point arithmetic gets in the way. Here's how to get around this problem.