Microsoft released an iOS version of Office last June, but it was iPhone only. The iPad version will be similar to the iPhone version, and will require an Office 365 subscription for editing.
Sources told The Verge that document creation and editing is fully supported for Word, Excel, and PowerPoint apps.
Don't expect a radical change from the iPhone functionality. The interface and feature set is expected to be similar to the existing iPhone version.
What's interesting is that last October, then CEO Steve Ballmer said that an iPad Office suite would trail the touch-first Windows implementation of Office. Possibly realizing the importance of an iPad version of Office, that plan changed late last year. Ballmer reportedly OKed a suggestion by the Office development team to bring Office for iPad to market as soon as it was ready, even if that meant it would arrive before the touch-first Windows 8.1 version.
Timing for Office for iPad then moved from its prior fall 2014 to the the "first half of calendar year 2014," ZDNet reported.