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Using Excel's DAYS360 Function

This document explains the Excel DAYS360 function, which calculates the number of days between two dates using the 30/360 day count convention followed by many financial institutions. The 30/360 method treats all months as having 30 days and ignores leap years. The DAYS360 function simplifies date calculations for financial models by standardizing the counting of days regardless of the actual number of days in a month or year. The function syntax is =DAYS360(START_DATE, END_DATE, [METHOD]), where START_DATE and END_DATE are the dates between which days are counted. An example calculates the number of days between the author's date of birth and the current date.

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33 views6 pages

Using Excel's DAYS360 Function

This document explains the Excel DAYS360 function, which calculates the number of days between two dates using the 30/360 day count convention followed by many financial institutions. The 30/360 method treats all months as having 30 days and ignores leap years. The DAYS360 function simplifies date calculations for financial models by standardizing the counting of days regardless of the actual number of days in a month or year. The function syntax is =DAYS360(START_DATE, END_DATE, [METHOD]), where START_DATE and END_DATE are the dates between which days are counted. An example calculates the number of days between the author's date of birth and the current date.

Uploaded by

nooruddinsurani
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd

EXCEL DAYS360 FUNCTION

30/360 DAYS COUNT CONVENTION


By Nooruddin Surani
Introduction
• The Gregorian calendar is the internationally accepted
civil calendar. But due to different number of days in
different No. Name Days
months makes it difficult to 1 January 31
2 February 28 or 29
work on financial calculations 3 March 31
using Gregorian calendar 4 April 30
5 May 31
• While working on Financial 6 June 30
Models it is easy to deal 7 July 31
8 August 31
with 30/360 days year 9 September 30
as most of the financial, 10 October 31
11 November 30
corporate & municipal 12 December 31
institutions follow the same
Gregorian calendar. (2010, March 16). In Wikipedia, The Free Encyclopedia. Retrieved 15:25, March 19, 2010, from
[Link]
Working with 30/360 Days with
Excel
• In Excel it is very easy to work with 30/360 Days Count
Convention
• Syntax:
=DAYS360(START_DATE, END_DATE, [METHOD])
• Where START_DATE is the first date and END_DATE is
the last date of the period
Example 1
• My date of birth is 7-Dec-1973 today’s date is
19-Mar-2010,
follow the
example to
understand
the same.
Conclusion
• You can use Excel’s DAYS360 function to calculate
difference in two dates
• This function will eliminate the confusion with Gregorian
Calendar regarding different number of days in different
months, even different number of days in leap years
• Syntax:
=DAYS360(START_DATE, END_DATE, [METHOD])
• Where START_DATE is the first date and END_DATE is
the last date of the period
References
• Gregorian calendar. (2010, March 16). In Wikipedia, The
Free Encyclopedia. Retrieved 15:25, March 19, 2010,
from [Link]
title=Gregorian_calendar&oldid=350173459

Please visit:
[Link]
For more

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