Business Functions Library for Excel

      1. Getting Started
      2. Using The Help File
      3. Top Dozen Functions
      4. Golden Rules
      5. Excel 2007
      1. Go To
      2. Function Selector
      3. CalculateFull
      4. Calculate WorkSheet
      5. Trace Facility
      6. Quick Paste Example
      7. Tutorials
      8. Function Finder
      9. Examples
      10. Help
      11. Excel"s Function Wizard
      12. Access Internet
      13. Usage of Functions (Audit)
      14. Uninstall
      1. Time Periods
      2. Inclusive and Exclusive Dates
      3. Using Daycount
      4. Examples of DayCount
      5. Annual Date Sequences
      6. ProjMode and Inclusive Dates
      7. Date Rolling Convention
      1. Rate Projections Functions Walkthrough
      2. Accruals and Cash
      3. Repeating Formulae
      4. Range Names and References
      5. Optional Parameters
      6. Using PmtsPerYear
      7. Modelling Seasonality
      8. Calculating Interest
      9. Using Business Functions in VBA (Visual Basic for Applications)
      10. Array Functions
      11. Volatility
      12. Annual Equivalent Rates
      13. Array Function
      14. Auto Multi Functions
      15. Variable Plurality
      16. GoalSeek
      1. Introduction To the Worked Examples
      2. Daycount
      3. General Projections
      4. Business Plans
      5. Cashbasis And Periods
      6. Using Timebases
      7. Using Dates
      1. How To Generate a time scale for a structured financing
      2. How To Project Rents off a Rental Forecast
      3. How To Run a model on different time bases
      4. How To Isolate The Cause of a Errors in Cells using Trace
      1. Introduction to the Utilities
      2. Audit
      3. Synchronized Range Insert/Delete
      4. Database Edit
      5. Insert Macro Button
      6. Link Analyser
      7. Range Describer
      8. PrintScript (beta)
      9. Create Local Range Name
      1. Number Formats
      2. Apply BF"s Color Palette
      3. Bullets
      4. Color Cells
      5. Conditional Formats
      1. Validation DropDowms
      2. Validation Standards
      1. Select Excel Function
      2. Array Function Tools
      3. Sort Sheets
      4. Range Value
      5. Named Range Manager
      6. Enforce WorkBook Settings
      7. Monte-Carlo
      8. TimeChart
      1. The ".ini" file
      1. Forum
      2. Online Help
      3. Templates
      1. Conversion of Input Strings to Values
      2. List of Holidays
      3. Acknowledgements and Trademarks
      4. Published Editions Changes in Behaviour
      5. Range Handling And Constraints
      6. Dates in Excel and Business Functions
      7. Old Composite DayCount Format
      8. DayCount in Excels"s Functions
      1. NPV of Annual To Periodic CashFlows - CorrectionM
      2. Interest - Simple, Annual, Continous and Discount Factors
      1. New Functions
      2. Obsolete Functions
      3. Discontinued Functions
      4. Deprecated Functions
    Accruals and Cash
    Difference between Accruals and Cash, and Recommendations
    Many functions in the projections part of the library have two modes of operation set by the ProjMode variable - accruals and cash, e.g. Con.

    The difference is that whilst in accruals mode the function calculates how a rate of payment relates to a certain time period, in cash mode the function goes a stage further and decides how much of the payment is actually occurs during the time period.
    • In Accruals mode functions therefore calculate how much of a payment period (usually a year) is contained within the time period you specify. This might be how much of a year, how many quarters, how many months etc. The daycount method, for specifying how to calculate the difference between two dates, is described by two optional variables DayCount and Periods. For more information see Using Daycount and Examples of DayCount.
    • In Cash mode functions calculate how much of the payment actually occurs in the time period. To determine this, the function needs either an standard option for quarterly, monthly payments etc, or, because such standard options may be restrictive, you can specify your own timing of quarters in Periods. For more information see Using Daycount and Examples of DayCount.

    Recommendations
    • If you are using a function in accruals mode, then letting the function use the default DayCount will nearly always result in highly accurate results, and there is often no need to specify DayCount and Periods.
    • If you are using a function in cash mode, specify your own annual sequence using a series of dates that you have somewhere in your spreadsheet. You can use the default (quarterly in advance) by omitting Periods altogether, but you will be more in control by specifying your own dates. You can also use the preset options for Periods and DayCount (see Using Daycount).
    • For a large model, it is best to have at least two named global variables in the worksheet to use for DayCount and Periods. For more information and our recommendations on named variables, see Range Names and References

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