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N |
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| 2 |
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| 3 |
Example: Date Inclusivity |
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| 4 |
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| 5 |
n Uses
Con, DiffD, FStep |
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| 6 |
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| 7 |
The Business Functions library has the
following rule for determining lengths of time: |
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| 8 |
Include the Start Date but Exclude the Finish
Date. |
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| 9 |
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| 10 |
Why? |
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| 11 |
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| 12 |
n It's because a date refers to an absolute
point in time, the beginning of a day, irrespective of whether that day is the Start
or Finish of something. |
| 13 |
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| 14 |
n If a date referred to a different point in
time (the start or end of a day) depending on whether it was a Start or Finish
date, you (and the library) |
| 15 |
would always have to remember the
purpose of the date, not just the date itself. |
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| 16 |
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| 17 |
n It's therefore fundamentally that a date is
a point in time (the start of a day, 00:00 hours) and not a period of time. |
| 18 |
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| 19 |
n Finally, it's to be consistent with Excels
Date and Financiial
Functions such as YEARFRAC and
DAYS360. |
BF |
Excel |
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| 20 |
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YEARFRAC |
0.0055 |
0.0055 |
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| 21 |
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30 Jan 08 |
1 Feb 08 |
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DAYS360 |
1.0000 |
1.0000 |
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| 22 |
Consequences: |
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| 23 |
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| 24 |
If a payment runs up to and includes the 30th
June, it's finish date is the 1st July: |
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| 25 |
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| 26 |
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1
Jan 03 |
1
Jul 03 |
500 |
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| 27 |
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| 28 |
n If a series of stepped payments run up until
the 30th June each year, they change on the 1st July, whether you used 'From'
dates or 'To' dates |
| 29 |
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| 30 |
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From Dates |
Annual Rate |
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To Dates |
Annual Rate |
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| 31 |
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1
Jan 03 |
100 |
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1 Jul 03 |
100 |
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| 32 |
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1 Jul 03 |
200 |
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1 Jan 04 |
200 |
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| 33 |
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1 Jan 04 |
300 |
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1 Jul 04 |
300 |
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| 34 |
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| 35 |
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1
Jan 03 |
1 Jan 04 |
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| 36 |
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FStep |
150 |
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| 37 |
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TStep |
150 |
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| 38 |
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| 43 |
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| 49 |
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| 50 |
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| 51 |
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| 52 |
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| 53 |
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| 54 |
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| 55 |
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| 56 |
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| 57 |
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| 58 |
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| 59 |
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| 60 |
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| 61 |
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| 62 |
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| 63 |
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| 64 |
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| 65 |
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| 66 |
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| 67 |
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| 68 |
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| 69 |
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| 70 |
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| 71 |
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| 72 |
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| 73 |
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| 74 |
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| 75 |
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| 76 |
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| 77 |
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| 78 |
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| 79 |
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| 80 |
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