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You can see the different parts of a nested formula (formula: A sequence of values, cell references, names, functions, or operators in a cell that together produce a new value. A formula always begins with an equal sign (=).) evaluated in the order the formula is calculated. For example, you can see this in the following formula where the function AVERAGE(F2:F5) is shown as its value, 80.

=IF(AVERAGE(F2:F5)>50,SUM(G2:G5),0) as

=IF(80>50,SUM(G2:G5),0)

1. Select the cell you want to evaluate. Only one cell can be evaluated at a time.
2. On the Tools menu, point to Formula Auditing, and then click Evaluate Formula.
3. Click Evaluate to examine the value of the underlined reference. The result of the evaluation is shown in italics.

   If the underlined part of the formula is a reference to another formula, click Step In to display the other formula in the Evaluation box. Click Step Out to go back to the previous cell and formula.

4. Continue until each part of the formula has been evaluated.
5. To see the evaluation again, click Restart.

   To end the evaluation, click Close.

Note  The Step In button is not available for a reference the second time the reference appears in the formula, or if the formula refers to a cell in a separate workbook.