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Slide 1: EXCEL DAYS360 FUNCTION 30/360 DAYS COUNT CONVENTION By Nooruddin Surani
Slide 2: Introduction • The Gregorian calendar is the internationally accepted civil calendar. But due to different number of days in different No. Name Days 1 January 31 months makes it difficult to 2 February 28 or 29 work on financial calculations 3 March 31 4 April 30 using Gregorian calendar 5 May 31 • While working on Financial 6 June 30 7 July 31 Models it is easy to deal 8 August 31 with 30/360 days year 9 September 30 10 October 31 as most of the financial, 11 November 30 corporate & municipal 12 December 31 institutions follow the same Gregorian calendar. (2010, March 16). In Wikipedia, The Free Encyclopedia. Retrieved 15:25, March 19, 2010, from http://en.wikipedia.org/w/index.php?title=Gregorian_calendar&oldid=350173459
Slide 3: Working with 30/360 Days with Excel • In Excel it is very easy to work with 30/360 Days Count Convention • Syntax: =DAYS360(START_DATE, END_DATE, [METHOD]) • Where START_DATE is the first date and END_DATE is the last date of the period
Slide 4: Example 1 • My date of birth is 7-Dec-1973 today’s date is 19-Mar-2010, follow the example to understand the same.
Slide 5: Conclusion • You can use Excel’s DAYS360 function to calculate difference in two dates • This function will eliminate the confusion with Gregorian Calendar regarding different number of days in different months, even different number of days in leap years • Syntax: =DAYS360(START_DATE, END_DATE, [METHOD]) • Where START_DATE is the first date and END_DATE is the last date of the period
Slide 6: References • Gregorian calendar. (2010, March 16). In Wikipedia, The Free Encyclopedia. Retrieved 15:25, March 19, 2010, from http://en.wikipedia.org/w/index.php? title=Gregorian_calendar&oldid=350173459 Please visit: www.exceladvise.com For more