Good Afternoon,   I could use a little help.

In the past I have used Outlook on a PC along with iCloud to sync my calendars and contacts.   I recently switched to a Mac.  I am trying to recreate the same syncing capabilities.  I signed up for Office 365 for Home $9.99 a month which included the download of the Office 2011 for Mac.  

I understand that Office 2011 for Mac does not have the capability to sync with iCloud.  I don't really care that I can't sync through iCloud.  i understand that Apple and Microsoft are fighting over who get the be the big boy and hope that they will work out their issues soon.  

For now I would like to find a way that will allow me to sync my calendar and contacts through Office for Mac 2011.    Right now I am running Office 2010 with the iCloud download on Parallels and using the other Office for Mac products (word, excel, etc)

My question is does the Office 365 for Home subscription include the ability to sync the calendar and contacts and if not how would I go about it?  I see  reference to a Microsoft Exchange Server but can't tell if that is part of the subscription or something different.

thank you