Financial functions
Financial functions perform common monetary calculations, such as interest and depreciation, bond pricing and yields, cash-flow analysis and the time value of money (present and future values, payments and rates).
Glossary of financial terms
Issue date
Maturity
Settlement
Coupon
Period
Short/Long Coupon
Redemption
Par: Face value
Future value Payment Payment period Principal Schedule Rate Yield discount Treasury bill Bond Price
Basis and day count convention
A basis specifies the 'accounting days' and 'accounting days in a year' count convention to be used in a calculation. We will call it the day-count convention.
Each convention specifies two things:
- How to calculate the number of days between two dates, date1 and date2.
- How to calculate the number of days in each year between two dates, date1 and date2.
There are five day-count conventions in use in IronCalc:
0 => US 30/360 1 => Actual/Actual 2 => Actual/365 4 => European 30/360
See: YEARFRAC (Date and time) See: https://docs.oasis-open.org/office/v1.2/os/OpenDocument-v1.2-os-part2.html#Basis See: https://en.wikipedia.org/wiki/Day_count_convention
Frequency
1 => Annually 2 => Biannually 4 => Quarterly