I use Microsoft Word quite a lot and like to use the keyboard shortcuts for formatting. Is it possible to specify your own shortcuts for the functions that don't have any?

It is indeed possible. Personally I use the "Paste Special" function a lot, so I'll use that as an example of how to set up a shortcut key for it:

  1. In Word 2003, go to "Tools" and click on "Customize".
  2. On all the tabs you'll see a button at the bottom that says "Keyboard" - click on it.
  3. You'll now see two columns, one named "Categories" and one named "Commands". These resemble all the commands you can find on the standard toolbar in Word. To set a shortcut key for the Paste Special function, click on "Edit" in the "Categories" column, and then scroll down in the "Commands" column until you find "EditPasteSpecial". Click on it.
  4. At the bottom left a field is shown, labeled "Current Key". If any shortcut key has already been specified for this function, it will be shown here.
  5. On its right is a field labeled "Press new shortcut key". Click with your mouse in this field (so that a flashing cursor appears in it) and then press the desired shortcut combination. I, for example, use CTRL+SHIFT+V for "Paste Special. So to set this, you have to hold all three buttons down at the same time. When you release them, they will now show in the field.
  6. If the shortcut keys that you specified has already been assigned to another function, this will now be shown below the "Press new shortcut key" field. If you decide to override this and rather assign the shortcut key combination to the function you want, click on the button "Assign" at the bottom left of the screen.
  7. Repeat the process to assign shortcut keys to other functions.
  8. When you're done, click on "Close".