Re: AccrInt
- From: Phillip J Shelton <shelton11 dingoblue net au>
- To: "John S. Dey" <jsdey mindspring com>, gnucash-devel gnucash org, gnumeric-list gnome org
- Subject: Re: AccrInt
- Date: Fri, 26 Jan 2001 22:57:41 +1000
"John S. Dey" wrote:
Phillip: I went back and read the documentation for the MS Excel's
ACCRINT function. They refer to a concept of quasi-coupon periods
occurring between "issue" and "settlement".
Oh. I see I will have to find a copy of Excel that has these functions
with it.
Further, I made the calculation of
accrued interest from the parameters given in the example and came up
with 16.9863; they show 16.94444.
Not good.
I think Excel is a great product and I am sure that gnumeric is also.
I agree.
However, I don't trust the financial calculations.
And those are what I am trying to look at.
With regards to
standards, I bet that within SEC or at an industry association the
standards for the calculation have been laid out. With regards to the
municipal industry, the Municipal Securities Rulemaking Board sets the
rules (see MSRB RULES -- G33-- CALCULATION on http://msrb.org.
I will look this up.
Its been brought up before on the gnumeric mailing list, that if, in
fact, errors are detected in Excel, what should the gnumeric
implementation do? This is an issue that probably has already been
addressed so for what its worth I would implement the error in the
function (provided it can be replicated) and then add a feature that
would provide the correct calculation.
I don't intend to un-Excel clone gnumeric. If the spreadsheet functions
need errors coded in then that is what has to happen. But I would like to
know what is meant to happen so that I can write correct code for a non-app
specifec financial library that gnucash can use.
For me I check all calculation
from any function that I plan on using. If, I don't agree, I write a
macro. Sometimes I write a macro just for the fun of it.
Wise.
I hope my rambling is helpful to you but realize what I am saying is
unsettling and unfortunately does not add much clarity to the ACCRINT
function.
Thank you for taking the time to answer the questions of someone who is new
to the ins and outs of financial math equations.
Phill
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