By Nooruddin Surani

The Gregorian calendar is the internationally accepted civil calendar. But due to different number of days in differentmonths makes it difficult towork on financial calculationsusing Gregorian calendar

While working on FinancialModels it is easy to dealwith 30/360 days year as most of the financial,corporate & municipal institutions follow the same

No. Name Days1 January 312 February 28 or 29

3 March 314 April 305 May 316 June 307 July 318 August 319 September 30

10 October 3111 November 30

12 December 31

Gregorian calendar. (2010, March 16). In Wikipedia, The Free Encyclopedia. Retrieved 15:25, March 19, 2010, from http://en.wikipedia.org/w/index.php?title=Gregorian_calendar&oldid=350173459

In Excel it is very easy to work with 30/360 Days Count Convention

Syntax:=DAYS360(START_DATEDAYS360(START_DATE, END_DATEEND_DATE, [METHODMETHOD])

Where START_DATESTART_DATE is the first date and END_DATEEND_DATE is the last date of the period

My date of birth is 7-Dec-1973 today’s date is 19-Mar-2010,follow theexample tounderstandthe same.

You can use Excel’s DAYS360DAYS360 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_DATEDAYS360(START_DATE, END_DATEEND_DATE, [METHODMETHOD])

Where START_DATESTART_DATE is the first date and END_DATEEND_DATE is the last date of the period

Gregorian calendar. (2010, March 16). In Wikipedia, The Free Encyclopedia. Retrieved 15:25, March 19, 2010, from http://en.wikipedia.org/w/index.php?title=Gregorian_calendar&oldid=350173459

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