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Assertions and International Standard on Auditing (ISA) 315

Definition
Audit Assertions are the implicit or explicit claims and representations made by the management responsible for the preparation of financial statements regarding the appropriateness of the various elements of financial statements and disclosures.
Audit Assertions are also known as Management Assertions and Financial Statement Assertions.

Explanation
In preparing financial statements, management is making implicit or explicit claims (i.e. assertions) regarding the recognition, measurement and presentation of assets, liabilities, equity, income, expenses and disclosures in accordance with the applicable financial reporting framework (e.g. IFRS).
For example, if a balance sheet of an entity shows buildings with carrying amount of $10 million, the auditor shall assume that the management has claimed that:
 The buildings recognized in the balance sheet exist at the period end;
 The entity owns or controls those buildings;
 The buildings are valued accurately in accordance with the measurement basis;
 All buildings owned and controlled by the entity are included within the carrying amount of $10 million.

Types & Examples

Assertions may be classified into the following types:

Assertions relating to classes of transactions
Assertions	Explanation	Examples: Salaries & Wages Cost
Occurrence	Transactions recognized in the financial statements have occurred and relate to the entity.	Salaries & wages expense has been incurred during the period in respect of the personnel employed by the entity. Salaries and wages expense does not include the payroll cost of any unauthorized personnel.
Completeness	All transactions that were supposed to be recorded have been recognized in the financial statements.	Salaries and wages cost in respect of all personnel have been fully accounted for.
Accuracy	Transactions have been recorded accurately at their appropriate amounts.	Salaries and wages cost has been calculated accurately. Any adjustments such as tax deduction at source have been correctly reconciled and accounted for.
Cut-off	Transactions have been recognized in the correct accounting periods.	Salaries and wages cost recognized during the period relates to the current accounting period. Any accrued and prepaid expenses have been accounted for correctly in the financial statements.
Classification	Transactions have been classified and presented fairly in the financial statements.	Salaries and wages cost has been fairly allocated between: -Operating expenses incurred in production activities; -General and administrative expenses; and -Cost of personnel relating to any self-constructed assets other than inventory.

Assertions relating to assets, liabilities and equity balances at the period end
Assertions	Explanation	Examples: Inventory balance
Existence	Assets, liabilities and equity balances exist at the period end.	Inventory recognized in the balance sheet exists at the period end.
Completeness	All assets, liabilities and equity balances that were supposed to be recorded have been recognized in the financial statements.	All inventory units that should have been recorded have been recognized in the financial statements. Any inventory held by a third party on behalf of the audit entity has been included in the inventory balance.
Rights & Obligations	Entity has the right to ownership or use of the recognized assets, and the liabilities recognized in the financial statements represent the obligations of the entity.	Audit entity owns or controls the inventory recognized in the financial statements. Any inventory held by the audit entity on account of another entity has not been recognized as part of inventory of the audit entity.
Valuation	Assets, liabilities and equity balances have been valued appropriately.	Inventory has been recognized at the lower of cost and net realizable value in accordance with IAS 2 Inventories. Any costs that could not be reasonably allocated to the cost of production (e.g. general and administrative costs) and any abnormal wastage has been excluded from the cost of inventory. An acceptable valuation basis has been used to value inventory cost at the period end (e.g. FIFO, AVCO, etc.)

Assertions relating to presentation and disclosures
Assertions	Explanation	Examples: Related Party Disclosures
Occurrence	Transactions and events disclosed in the financial statements have occurred and relate to the entity.	Transactions with related parties disclosed in the notes of financial statements have occurred during the period and relate to the audit entity.
Completeness	All transactions, balances, events and other matters that should have been disclosed have been disclosed in the financial statements.	All related parties, related party transactions and balances that should have been disclosed have been disclosed in the notes of financial statements.
Classification & Understandability	Disclosed events, transactions, balances and other financial matters have been classified appropriately and presented clearly in a manner that promotes the understandability of information contained in the financial statements.	The nature of related party transactions, balances and events has been clearly disclosed in the notes of financial statements. Users of the financial statements can clearly determine the financial statement captions affected by the related party transactions and balances and can easily ascertain their financial effect.
Accuracy & Valuation	Transactions, events, balances and other financial matters have been disclosed accurately at their appropriate amounts.	Related party transactions, balances and events have been disclosed accurately at their appropriate amounts.

Use and Application

Auditors are required by ISAs to obtain sufficient & appropriate audit evidence in respect of all material financial statement assertions. The use of assertions therefore forms a critical element in the various stages of a financial statement audit as described below.

Stage of Audit	Application of Assertions
Planning	As part of the risk assessment procedures, auditors are required to understand the entity and its environment including the assessment of the risk of material misstatement (ROMM) due to fraud and error at the financial statement and assertion level. (ISA 315.3 ) The assessment of ROMM at the financial statement and assertion level provides the basis for determining the nature, timing and extent of audit procedures that are necessary to obtain sufficient and appropriate audit evidence in response to those assessed risks. (ISA 200.A36)
Testing	Substantive tests are performed to identify material misstatements at the assertion level. In case of assertions whose ROMM has been assessed as significant and no tests of control are planned to be performed, the substantive procedures should include tests of detail (i.e. substantive analytical procedures alone cannot be considered as sufficient and appropriate audit evidence for assertions with a significant risk of material misstatement. (ISA 330.21) Tests of control (TOCs) are performed to assess the operating effectiveness of controls at the financial statement and assertion level. TOCs are necessary to validate the auditor's expectation of the operating effectiveness of controls (as acquired from the risk assessment procedures performed at the planning stage) and also in case where the performance of substantive procedures alone cannot provide sufficient and appropriate audit evidence in respect of a specific assertion. (ISA 330.8)
Completion	Auditor shall conclude whether sufficient and appropriate audit evidence has been obtained for all material financial statement assertions taking into account any revisions in the assessment of ROMM at the assertion level. (ISA 330.25-6) Where an auditor is unable to obtain sufficient and appropriate audit evidence in respect of a material financial statement assertion, he is required to modify the audit report accordingly. (ISA 330.27)

Purpose & Importance

Assertions assist auditors in considering a wide range of issues that are relevant to the authenticity of financial statements. The consideration of management assertions during the various stages of audit helps to reduce the audit risk.

Briefly:

Management assertions or financial statement assertions are the implicit or explicit assertions that the prepare of financial statements (management) is making to its users. Financial statements include assertions related to the recognition, measurement, presentation, and disclosure of the financial information contained within such statements. The role of the auditor in a financial statement audit is to obtain evidence as to whether management's assertions can be supported.

Both United States and International auditing standards include guidance related to financial statement assertions. The PCAOB and the IFAC address financial statement assertions in AS 15 and ISA 315, respectively. Auditors generally classify assertions into three categories:

Transactions and events
Occurrence — the transactions recorded have actually taken place.
Completeness — all transactions that should have been recorded have been recorded.
Accuracy — the transactions were recorded at the appropriate amounts.
Cutoff — the transactions have been recorded in the correct accounting period.
Classification — the transactions have been recorded in the appropriate caption.

Accounts balances as of period end
Existence — assets, liabilities and equity balances exist.
Rights and Obligations — the entity legally controls rights to its assets and its liabilities faithfully represent its obligations.
Completeness — all balances that should have been recorded have been recorded.
Valuation and Allocation — balances that are included in the financial statements are appropriately valued and allocation adjustments are appropriately recorded.

Presentation and disclosure
Occurrence — the transactions and disclosures have actually occurred.
Rights and Obligations — the transactions and disclosures pertain to the entity.
Completeness — all disclosures have been included in the financial statements.
Classification — financial statements are clear and appropriately presented.
Accuracy and Valuation — information is disclosed at the appropriate amounts.

References:
 https://en.wikipedia.org/wiki/Management_assertions
http://accounting-simplified.com/audit/introduction/audit-assertions.html
"Auditing Standard No. 15.11". http://pcaobus.org/. Public Company Accounting Oversight Board. Retrieved 25 September 2014. External link in |website= (help)
"Auditing Standard No. 15.2". http://pcaobus.org/. Public Company Accounting Oversight Board. Retrieved 25 September 2014. External link in |website= (help)
"INTERNATIONAL STANDARD ON AUDITING 315 (REVISED) A124" (PDF). http://www.ifac.org/. International Federation of Accountants. Retrieved 26 September 2014. External link in |website= (help)
"AU Section 326" (PDF). aicpa.org. American Institute of Certified Public Accountants. Retrieved 25 September 2014.

THINGS ONE SHOULD KNOW ABOUT EXCEL PIVOT TABLES

Many Excel experts believe that pivot tables are the single most powerful tool in Excel. According to Bill Jelen (a.k.a. Mr. Excel) "No other tool in Excel gives you the flexibility and analytical power of a pivot table". I agree completely. Excel Pivot Tables are fun and powerful. So, in no particular order, here are some things you should know about them.

YOU CAN BUILD A PIVOT TABLE IN ABOUT ONE MINUTE

Many people have the idea that building a pivot table is complicated and time-consuming, but it's simply not true. Compared to the time it would take you to build an equivalent report manually, pivot tables are incredibly fast.  If you have well-organized source data, you can create a pivot table less than a minute. Here's how:

1. Select any cell in the source data

2. On the Insert tab of the ribbon, click the PivotTable button

3. In the Create PivotTable dialog box, check the data and click OK

4. Drag a "label" field into the Row Labels area (e.g. customer)

5. Drag a numeric field into the Values area (e.g. sales)

 Select any cell in the data to start.

A very simple pivot table in about 30 seconds.
















PERFECT YOUR SOURCE DATA
To minimize problems down the road, always use good quality source data, organized in a tabular layout. "Perfect" source data will have no blank rows or columns, and no subtotals. Each column will have a unique name (on one row only), every field will have a value in every row, and columns will not hold repeated groups of data (i.e. month names, location names, region names, etc.).

Perfect data for a pivot table!

COUNT THE DATA FIRST

When you first create a pivot table, use it to generate a simple count first to make sure the pivot table is processing the data as you expect. To do this, simply add any text field as a Value field. You'll see a very small pivot table that displays the total record count, that is, the total number of rows in your data. If this number makes sense to you, you're good to go. If the number doesn't make sense to you, it's possible the pivot table is not reading the data correctly or that the data has not been defined correctly.

300 first names means we have 300 employees. Check.

PLAN BEFORE YOU BUILD
Although it's a lot of fun dragging fields around a pivot table, and watching Excel churn out yet another unusual representation of the data, you can find yourself going down a lot of unproductive rabbit holes very easily. An hour later, it's not so fun anymore. Before you start building, jot down what you are trying to measure or understand, and sketch out a few simple reports on a notepad. These simple notes will help guide you through the huge number of choices you have at your disposal. Keep things simple, and focus on the questions you need to answer.

USE A TABLE FOR YOUR DATA TO CREATE A "DYNAMIC RANGE"
If you use an Excel Table for the source data of your pivot table, you get a very nice benefit: your data range becomes "dynamic". A dynamic range will automatically expand and shrink the table as you add or remove data, so won't have to worry that the pivot table is missing the latest data. When you use a Table for your pivot table, the pivot table will always be in sync with your data.

To use a Table for your pivot table:
1. Select any cell in the data use the keyboard shortcut Ctrl-T to create a Table
2. Click the Summarize with PivotTable button (TableTools > Design)
3. Build your pivot table normally
4. Profit: data you add to your Table will automatically appear in your Pivot table on refresh

Creating a simple Table from the data using (Ctrl-T)

Now that we have a table, we can use Summarize with a  Pivot Table

USE A PIVOT TABLE TO COUNT THINGS
By default, a Pivot Table will count any text field. This can be a really handy feature in a lot of general business situations. For example, suppose you have a list of employees and want to get a count by department?

To get a breakdown by department, follow these steps:
1. Create a pivot table normally
2. Add the Department as a Row Label
3. Add the employee Name field as a Value
4. The pivot table will display a count of employee by Department

Employee breakdown by department

SHOW TOTALS AS A PERCENTAGE
In many pivot tables, you'll want to show a percentage rather than a count. For example, perhaps you want to show a breakdown of sales by product. But, rather than show the total sales for each product, you want to show sales as a percentage of the total sales. Assuming you have a field called Sales in your data, just follow these steps:
1. Add Product to the pivot table as a Row Label
2. Add Sales to the pivot table as a Value
3. Right-click the Sales field, and set "Show Values As" to "% of Grand Total"

See the tip below "Add a field more than once to a pivot table" to learn how to show total sales and sales as a percent of total at the same time.

Changing value display to % of total

 Sum of employees displayed as % of total

USE A PIVOT TABLE TO BUILD A LIST OF UNIQUE VALUES
Because pivot tables summarize data, they can be used to find unique values in a field. This is a good way to quickly see all the values that appear in a field and also find typos, and other inconsistencies. For example, suppose you have sales data and you want to see a list of every product that was sold.

To create a product list:
1. Create a pivot table normally
2. Add the Product as a Row Label
3. Add any other text field (category, customer, etc) as a Value
4. The pivot table will show a list of all products that appear in the sales data

 Every product that appears in the data is listed (including a typo)

CREATE A SELF-CONTAINED PIVOT TABLE
When you've created a pivot table from data in the same worksheet, you can remove the data if you like and the pivot table will continue to operate normally. This is because a pivot table has apivot cache that contains an exact duplicate of the data used to create the pivot table.

1. Refresh the pivot table to ensure cache is up to date (PivotTable Tools > Refresh)
2. Delete the worksheet that contains the data
3. Use your pivot table normally

GROUP A PIVOT TABLE MANUALLY
Although pivot tables automatically group data in many ways, you can also group items manually into your own custom groups. For example, assume you have a pivot table that shows a breakdown of employees by department. Suppose you want to further group the Engineering, Fulfillment, and Support departments into Group 1, and Sales and Marketing into Group 2. Group 1 and Group 2 don't appear in the data, they are your own custom groups. To group the pivot table into the ad hoc groups, Group 1 and Group 2:
1. Control-click to select each item in the first group
2. Right-click one of the items and choose Group from the menu
3. Excel creates a new group, "Group1"
4. Select Marketing and Sales in column B, and group as above
5. Excel creates another group, "Group2"

 Starting to group manually

 Half way through manual grouping - Group 1 is done

 Finished grouping manually

GROUP NUMERIC DATA INTO RANGES
One of the most interesting and powerful features that every pivot table has is the ability to group numeric data into ranges or buckets. For example, assume you have a list of voting results that includes voter age, and you want to summarize the results by age group:
1. Create your pivot table normally
2. Add Age as a Row Label, Vote as a Column Label, and Name as a Value
3. Right-click any value in the Age field and choose Group
4. Enter 10 as the interval in the "By:" input area
5. When you click OK, you'll see the voting data grouped by age into 10-year buckets

 The source data for voting results

 Grouping the age field into 10 year buckets

 Done grouping voting results by age range

RENAME FIELDS FOR BETTER READABILITY
When you add fields to a pivot table, the pivot table will display the name that appears in the source data. Value field names will appear with "Sum of " or "Count of" when they are added to a pivot table. For example, you'll see Sum of Sales, Count of Region, and so on. However, you can simply overwrite this name with your own. Just select the cell that contains the field you want to rename and type a new name.

 Rename a field by typing over the original name

ADD A SPACE TO FIELD NAMES WHEN EXCEL COMPLAINS
When you try to rename fields, you might run into a problem if you try to use exactly the same field name that appears in the data. For example, suppose you have a field called Sales in your source data. As a value field, it appears as Sum of Sales, but (sensibly) you want it to say Sales. However, when you try to use Sales, Excel complains that the field already exists, and throws a "PivotTable field name already exists" error message.

 Excel doesn't like your new field name
As a simple workaround, just add a space to the end of your new field name. You can't see a difference, and Excel won't complain.

 Adding a space to the name avoids the problem

ADD A FIELD MORE THAN ONCE TO A PIVOT TABLE
There are many situations when it makes sense to add the same field to a pivot table more than once. It may seem odd, but you can indeed add the same field to a pivot table more than once. For example suppose you have a pivot table that shows a count of employees by department.
The count works fine, but you also want to show the count as a percentage of total employees. In this case, the simplest solution is to add the same field twice as a Value field:
1. Add a text field to the Value area (e.g. First name, Name, etc.)
2. By default, you'll get a count for text fields
3. Add the same field again to the Value area
4. Right-click the second instance, and change Show Values As to "% of Grand Total"
5. Rename both fields as as you wish

 Setting a field to show percent of total

 The Name field has been added twice.


AUTOMATICALLY FORMAT ALL VALUE FIELDS
Any time you add a numeric field as a Value in a pivot table, you should set the number format directly on the field. You may be tempted to format the values you see in the pivot table directly, but this is not a good idea, because it's not reliable as the pivot table changes. Setting the format directly on the field will ensure that the field is displayed using the format you want, no matter how big or small the pivot table becomes.

For example, assume a pivot table that shows a breakdown of sales by Region. When you first add the Sales field to the pivot table, it will be displayed in General number format, since it's a numeric field. To apply the Accounting number format to the field itself:
1. Right-click on the Sales field and select Value Field Settings from the menu
2. Click the Number Format button in the Value field settings dialog that appears
3. Set the format to Accounting and click OK to exit

 Setting format directly on a value field

DRILL DOWN TO SEE (OR EXTRACT) THE DATA BEHIND ANY TOTAL
Whenever you see a total displayed in a pivot table, you can easily see and extract the data that makes up the total by "drilling down". For example, assume you are looking at a pivot table that shows employee count by department. You can see that there are 50 employees in the Engineering department, but you want to see the actual names. To see the 50 people that make up this number, double-click directly on the number 50 and Excel will add a new sheet to your workbook that contains the exact data used to calculate 50 engineers. You can use this same approach to see and extract data behind totals wherever you see them in a pivot table.

 Double click a total to "drill down"

 The 50 Enginners, extracted into a new sheet automatically

CLONE YOUR PIVOT TABLES WHEN YOU NEED ANOTHER VIEW
Once you have one pivot table set up, you might want to see a different view of the same data. You could of course just rearrange your existing pivot table to create the new view. But if you're building a report that you plan to use and update on an on-going basis, the easiest thing to do is clone an existing pivot table, so that both views of the data are always available.

There are two easy ways to clone a pivot table. The first way involved duplicating the worksheet that holds the pivot table. If you have a pivot table set up in worksheet with a title, etc., you can just right click the worksheet tab to copy the worksheet into the same workbook. Another way to clone a pivot table is to copy the pivot table, and paste it somewhere else. Using these approaches, you can make as many copies as you like.

When you clone a pivot table this way, both pivot tables share the same pivot cache. This means that when you refresh any one of the clones (or the original) all of the related pivot tables will be refreshed.

UNCLONE A PIVOT TABLE TO REFRESH INDEPENDENTLY
After you've cloned a pivot table, you might run into a situation where you really don't want the clone to be linked to the same pivot cache as the original. A common example is after you've grouped a date field in one pivot table, refresh, and discover that you've also accidentally grouped the same date field in another pivot table that you didn't intend to change. When pivot tables share the same pivot cache, they also share field grouping as well.

Here's one way to unclone a pivot table, that is, unlink it from the pivot cache it shares with other pivot tables in the same worksheet:
1. Cut the entire pivot table to the clipboard
2. Paste the pivot table into a brand new workbook
3. Refresh the pivot table
4. Copy it again to the clipboard
5. Paste it back into the original workbook
6. Discard the temporary workbook

Your pivot table will now use it's own pivot cache and will not refresh with the other pivot table(s) in the workbook, or share the same field grouping.

GET RID OF USELESS HEADINGS
The default layout for new pivot tables is the Compact layout. This layout will display "Row Labels" and "Column Labels" as headings in the pivot table. These aren't the most intuitive headings, especially for people that don't often use pivot tables. An easy way to get rid of these odd headings is to switch the pivot table layout from Compact to Outline or Tabular layout. This will cause the pivot table to display the actual field names as headings in the pivot table, which is much more sensible. To get rid of these labels altogether, look for a button called Field Headers on the Analyze tab of the Pivot Table Tools ribbon. Clicking this button will disable headings completely.

 Note the useless and confusing field headings

 Switching the layout from Compact to Outline

 Field headings in Outline layout are much more sensible

ADD A LITTLE WHITE SPACE AROUND YOUR PIVOT TABLES
This is just a simple design tip. All good designers know that a pleasing design requires a little white space. White space just means empty space set aside to give the layout breathing room. After you create a pivot table, insert an extra column to the left and an extra row or two at the top. This will give your pivot table some breathing room and create a better looking layout. In most cases, I also recommend that you turn off gridlines on the worksheet. The pivot table itself will present a strong visual grid, so the gridlines outside the pivot table are unnecessary, and will simply create visual noise.

 A little white space makes your pivot tables look more polished

GET RID OF ROW AND COLUMN GRAND TOTALS
By default, pivot tables show totals for both rows and columns, but you can easily disable one or both of these totals if you don't want them. On the Pivot Table tab of the ribbon, just click the Totals button and choose the options you want.

 You can remove grand totals for both rows and columns

FORMAT EMPTY CELLS
If you have a pivot table that has a lot of blank cells, you can control the character that is displayed in each blank cell. By default, empty cells will display nothing at all. To set your own character, right-click inside the pivot table and select Pivot Table options. Then make sure that "Empty cells as:" is checked, and enter the character you want to see. Keep in mind that this setting respects the applied number format. For example. if you are using the accounting number format for a numeric value field, and enter a zero, you'll see a hyphen "-" displayed in the pivot table, since that's how zero values are displayed with the Accounting format.

 Empty cells set to display 0 (zero) and Accounting number format gives you hyphens

TURN OFF AUTOFIT WHEN NECESSARY
By default, when you refresh a pivot table, the columns that contain data are adjusted automatically to best fit the data. Normally, this is a good thing, but it can drive you crazy if you have other things on worksheet along with the pivot table, or if you have carefully adjusted the column widths manually and don't want them changed. To disable this feature, right-click inside the pivot table and choose PivotTable Options. In the first tab of the options (or the layout tab on a Mac), uncheck "AutoFit Column Widths on Update".

Pivot table column autofit option for Windows

SUBTOTAL ROW AND COLUMN FIELDS
1. Select an item of a row or column field in a PivotTable report.
2. On the Options tab, in the Active Field group, click Field Settings.
The Field Settings dialog box is displayed.
3. Do one of the following:

Subtotal an outer row or column label  
a. To subtotal by the default summary function, under Subtotals, click Automatic.
b. Optionally, to use a different function or to display more than one type of subtotal, click Custom, and then select a function.

Functions that you can use as a subtotal

Function	Description
Sum	The sum of the values. This is the default function for numeric data.
Count	The number of data values. The Count summary function works the same as the COUNTA worksheet function. Count is the default function for data other than numbers.
Average	The average of the values.
Max	The largest value.
Min	The smallest value.
Product	The product of the values.
Count Nums	The number of data values that are numbers. The Count Nums summary function works the same as the COUNT worksheet function.
StDev	An estimate of the standard deviation of a population, where the sample is a subset of the entire population.
StDevp	The standard deviation of a population, where the population is all of the data to be summarized.
Var	An estimate of the variance of a population, where the sample is a subset of the entire population.
Varp	The variance of a population, where the population is all of the data to be summarized.

NOTE   You cannot use a custom function with an OLAP data source.

c. For outer row labels in compact or outline form, you can display subtotals above or below their items, or hide the subtotals, by doing the following:

i. On the Design tab, in the Layout group, click Subtotals.
ii. Do one of the following:
 Select Do Not Show Subtotals.
 Select Show all Subtotals at Bottom of Group.
 Select Show all Subtotals at Top of Group.

Subtotal an inner row or column label  
d. To choose a function, under Subtotals, click Custom, if this option is available, and then select a function.

Functions that you can use as a subtotal (SAME AS ABOVE)


Remove subtotals  
e. Click None under Subtotals.

NOTE   If a field contains a calculated item, you can't change the subtotal summary function.

4. Select or clear the Include new items in manual filter check box to include or exclude new items when applying a filter in which you have selected specific items in the Filter menu.

TIP   To quickly display or hide the current subtotal, right-click the item of the field, and then select Subtotal "<Label name>".

DISPLAY OR HIDE GRAND TOTALS FOR THE ENTIRE REPORT

You can display or hide the totals for the current PivotTable report.

Display or hide grand totals  
1. Click the PivotTable report.
2. On the Design tab, in the Layout group, click Grand Totals, and then select one of the following:
o Off for Rows and Columns
o On for Rows and Columns
o Off for Rows Only
o On for Columns Only

Set the default behavior for displaying or hiding grand totals  
1. Click the PivotTable report.
2. On the Options tab, in the PivotTable group, click Options.
The PivotTable Options dialog box is displayed.
3. Click the Totals & Filters tab.
4. Do one of the following:

Display grand totals  
o Select the Show grand totals for columns check box, the Show grand totals for rows check box, or both.
Hide grand totals  
o Clear the Show grand totals for columns check box, the Show grand totals for rows check box, or both.

CALCULATE THE SUBTOTALS AND GRAND TOTALS WITH OR WITHOUT FILTERED ITEMS

1. Click the PivotTable report.
2. On the Options tab, in the PivotTable group, click Options.
The PivotTable Options dialog box is displayed.
3. Click the Total & Filters tab, and then do one of the following:

OLAP source data     Do one of the following:
o Select or clear the Subtotal filtered page items check box to include or exclude report filter items.

NOTE   The OLAP data source must support the MDX expression subselect syntax.

o Select or clear the Mark totals with * check box to display or hide an asterisk next to totals. The asterisk indicates that the visible values that are displayed and that are used when Excel calculates the total are not the only values that are used in the calculation.

NOTE   This option is only available if the OLAP data source does not support the MDX expression subselect syntax.

References: 

1.       Dave Bruns | July 30, 2014

2.      https://support.office.com