Days360 problem

J

jellorain

Seeing a problem that could possibly be an excel glitch in the days360
function.

I'm running O2k3sp2 and have tried this on several machines including those
outside of our company build environment.

When attempting to calculate the number of days using this function between
the dates 2/27/2006 and 3/27/2006, I return the number 30 (which is correct
based on days360). Though when entering the dates 2/28/2006 and 3/28/2006 I
return 28 days. My understanding is that this function should always return
30 days in a month, no matter which month is chosen. Can anyone enlighten me
as to why this is happening? The result has been a significant loss of funds
within our securities team in regard to interest accrual.
 
B

Bob Phillips

Set the method argument to TRUE

=DAYS360(start,end,TRUE)

--

HTH

Bob Phillips

(remove nothere from the email address if mailing direct)
 
J

jellorain

Well that changes it to European, which will work, but why is that necessary?
--
JL
TA
WB


Bob Phillips said:
Set the method argument to TRUE

=DAYS360(start,end,TRUE)

--

HTH

Bob Phillips

(remove nothere from the email address if mailing direct)
 
B

Bob Phillips

Personally, I think it is a bug, as 29/02/2004 to 29/03/2004 also gives 29,
but I am no dates expert.

--

HTH

Bob Phillips

(remove nothere from the email address if mailing direct)

jellorain said:
Well that changes it to European, which will work, but why is that necessary?
 
N

Niek Otten

In the link I gave you:

Reportedly, Excel's US/NASD method is not SIA-compliant

--
Kind regards,

Niek Otten

jellorain said:
Well that changes it to European, which will work, but why is that
necessary?
 

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