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Formulas are equations that perform calculations on values in a list or library. A formula starts with an equal sign (=). For example, the following formula multiplies 2 by 3 and then adds 5 to the result.
=5+2*3
You can use a formula in a calculated column and to calculate default values for a column. A formula can contain functions (function: A prewritten formula that takes a value or values, performs an operation, and returns a value or values. Use functions to simplify and shorten formulas on a worksheet, especially those that perform lengthy or complex calculations.), column references, operators (operator: A sign or symbol that specifies the type of calculation to perform within an expression. There are mathematical, comparison, logical, and reference operators.), and constants (constant: A value that is not calculated and, therefore, does not change. For example, the number 210, and the text "Quarterly Earnings" are constants. An expression, or a value resulting from an expression, is not a constant.), as in the following example.
=PI()*[Result]^2
A formula might use one or more of the elements from the previous table. Here are some examples of formulas (in order of complexity).
The following formulas contain constants and operators.
The following formulas refer to other columns in the same list or library.
The following formulas call built-in functions.
The following formulas specify one or more functions as function arguments.
The SUM function adds the return value of the IF function and the value in column C.
The DEGREES function converts a value specified in radians to degrees. This formula returns the value 180.
The ISNUMBER function returns Yes if the FIND function returned a numeric value. Else, it returns No.
Other Great links
http://office.microsoft.com/en-us/sharepointtechnology/CH100650061033.aspx
http://office.microsoft.com/en-us/sharepointtechnology/HA101054791033.aspx
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