Definition
VBA Public Variables, in financial terms, refer to variables declared in Visual Basic for Applications (VBA) programming that are globally accessible. These variables can be used across all modules or procedures within a given program or workbook. Their state is retained and their values can be changed and accessed from any location within the program.
Key Takeaways
- VBA Public Variables are used to store and access data throughout the whole VBA project. With Public Variables, the data is not confined to just one function or procedure, but is accessible and can be modified by any part of the code throughout the project.
- One should be cautious while using Public Variables. After its declaration, it can be edited from any part of the project, which can potentially cause issues if not managed carefully. The changes made to it anywhere can reflect across the entire project, which has its benefits, but if used incorrectly can lead to unexpected results.
- VBA Public Variables are more memory efficient under most circumstances. Unlike local variables which are created and destroyed every time a procedure is executed, Public Variables only need to be allocated memory space once and this memory is freed up only when the project is closed, not at the end of each procedure. This can considerably decrease the workload of memory allocation and de-allocation in codes that include repetitive tasks.
Importance
VBA Public Variables in finance are pertinent as they facilitate the management, control, and computation of diverse financial data across multiple procedures or modules within Visual Basic for Applications (VBA) programming environment.
These variables are declared using a “Public” statement, making them accessible throughout the entire workbook, enhancing the efficiency and versatility of data analysis tasks in financial models.
They maintain their value until the codes are reset or the workbook is closed, which is particularly useful in continuously tracking and updating critical financial metrics or parameters.
Consequently, their wide-ranging and continuous accessibility renders them essential in creating complex financial models and systems where consistency, control, and data connectivity are required.
Explanation
VBA Public Variables are more than just a finance term, they are a pertinent part of VBA (Visual Basic for Applications) programming used across many sectors and industries, prominently in finance. Public variables in VBA are crucial because they assist in sharing information across various modules and procedures.
For instance, when there’s a requirement for a variable to be accessed and altered by numerous procedures or functions in different modules, a VBA Public Variable is declared. This makes Public Variables especially important in large projects that necessitate multi-level interaction.
In finance, VBA Public Variables are utilized in complex spreadsheet models where accessibility and manipulation of certain data points in multiple locations is vital. For instance, when developing a financial forecasting model that adjusts outputs based on a change in the interest rate, a VBA Public Variable can be declared to store the rate.
This means every function or procedure that uses this rate can access the same centrally stored value, leading to better consistent calculations and making it easier to adjust the rate when required. Thus, VBA Public Variables significantly contribute to enhancing ease of management, accuracy, and consistency in financial operations.
Examples of VBA Public Variables
VBA (Visual Basic for Applications) Public Variables are typically used in programming for Excel Macros. They are declared outside any procedure or function and can be accessed by all procedures or functions in an Excel workbook module. Here are three real-world examples related to finance:
Portfolio Management System: A financial analyst in a major investment company could use VBA Public Variables in the creation of a portfolio management system in Excel. For example, the analyst can declare a public variable for “TotalInvestment” and use it across various modules and functions to track the overall investment of a client through buying and selling different securities. And, this variable can also be accessed for generating portfolio performance reports.
Scenario Analysis: In a corporate finance department, a financial controller may use VBA Public Variables in a scenario analysis. For instance, key financial assumptions like ‘Revenue Growth Rate’, ‘Operating Margin’, and ‘Tax Rate’, which need to remain constant across many of the scenarios, can be declared as public variables. These can then be used throughout the entire Excel model allowing efficient adjustments of these assumptions for different scenario analyses.
Budgeting & Forecasting: In budgeting and forecasting processes, public variables can be used to reference certain adjustable assumptions. For instance, an interest rate that affects various parts of a financial model may be declared as a public variable. This way, whenever the interest rate changes, updating it in one place will automatically reflect throughout the model.
FAQs About VBA Public Variables
What is a VBA Public Variable?
A VBA Public Variable is a type of variable that can be accessed from any module, class, or macro in a specific VBA project. It is declared using the “Public” keyword in the declaration statement.
How do I declare a Public Variable in VBA?
To declare a Public Variable in VBA, you use the keyword ‘Public’, followed by the name you choose for the variable, then a ‘As’, followed by the data type of the variable. For example: ‘Public myVar As Integer’.
What’s the difference between Public Variables and Private Variables?
Public Variables are accessible to all the macros and modules in a VBA project whereas Private Variables can only be accessed from within the specific module or macro they are declared in.
When should I use Public Variables?
Public Variables should be used when you need to maintain or track data across different modules or macros within your VBA project.
What are the disadvantages of using Public Variables in VBA?
While Public Variables can provide convenient global access, they can make the debugging process harder as any part of the program can alter the variable’s value. This can lead to unexpected results. Hence, it’s recommended to use them sparingly.
Related Entrepreneurship Terms
- Global Variables: These are essentially the same as public variables, accessible from any module in the VBA environment.
- Procedure Variables: Also known as local variables, these are only accessible within the specific procedure where they are declared.
- Module-level Variables: These variables are declared at the start of a VBA module and can only be accessed within that module.
- Constant Variables: In VBA, these are fixed values that cannot be altered during the code execution process.
- Data Types: In the context of VBA public variables, these refer to the type of data that the variable can hold (integer, string, double, etc.)
Sources for More Information
- Microsoft: Microsoft is the creator of VBA (Visual Basic for Applications) and provides detailed help articles about how to use different features, including public variables, in their programming languages.
- Excel Easy: This site specializes in Excel tutorials, which includes a guide on how to use VBA public variables in the context of Excel.
- TechOnTheNet: TechOnTheNet provides tutorials and references for various aspects of programming, including VBA. They have a detailed guide on public variables in VBA.
- Stack Overflow: Stack Overflow is a community of developers who ask and answer questions about various aspects of programming. Here you can find various threads discussing VBA public variables.
