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N |
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2 |
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3 |
Example: Date Inclusivity |
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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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39 |
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40 |
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41 |
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42 |
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43 |
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44 |
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45 |
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46 |
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47 |
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48 |
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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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