Using the Excel application menu
The Excel Application menu is a special version of the Object menu (more to the left on the toolbar): it gives access to Methods, Properties and Related Classes - dedicated to the Application object.
Because ScreenUpdating is a property of the Application object often used, it is placed at the top of the Properties menu.
Code VBA comes with a fragments library, to which you can add your own. Here, only the most general ones appear, other fragments are located specifically with the menu of the object they are concerned with.
Properties and related classes
In case a property returns an object of a type, it can be used to Set a variable of that type (and even declare it, which is useful if you need to keep track of multiple instances, or changes in what is referenced to.) Now all actions on the object can be done via the Object menu
Dim rngActiveCell As Range Set rngActiveCell = ActiveCell
If the object is directly accessible, such as ActiveCell, and you only want to do something directly with it, you can do so directly from the related classes part of the menu. The advantage is that your code does not get crammed with privately declared variables and is shorter.