Re: [office-comment] ODFF: XIRR

["Bob Jolliffe" <bobjolliffe@gmail.com>]

Hi Sheldon

As is customary on this thread I will also add the disclaimer of not
being an expert in this area.

I really don't think that David was implying that financial
calculations are not important and necessary.  Particularly in such a
well managed economy as the US :-)  Just that, when the figures really
count, a good analyst might not want to rely on poorly specified
spreadsheet formulae.

To echo his words "... I'd often be more inclined to go back to basic
principles, so I could be sure of the result..."

Regards
Bob


2008/9/9 Sheldon Britton <sab_orion@verizon.net>:
> (Copy)
>
> Hello David,
>
> While I will not regard myself as an expert in certain financial matters...
> having previously served on the National Standards Committee of a country in
> South America; and, having had some experience in the banking industry...
>  kindly permit me to make the following observation with regards to your
> email to Mr. Denis E. Hamilton:
>
> Re: "The bad news is that it's hard to know how useful (and used) the
> financial functions are. Two of
>      the Calc functions always return an error, and no-one complained (I've
> raised an issue now). I
>      suspect that despite the huge effort of implementation, not many people
> find them useful, except
>      for students doing assignments..."
>
> With regards to the above referenced I respectfully beg to differ with you
> that this is "bad news" in that if one is to consider the current effects of
> the energy and food scenarios around the world with particular reference to
> the state of the economy of the United States of America then any financial
> and economic analyst can readily recognize the "values" (usefulness) of
> having access to the appropriate computerized analytical tools (in these
> cases - some of the appropriate Spread Sheet Applications now being talked
> about; and, for example - to be utilized during the completion of the
> valuation of certain industrial project in a particular country prior to the
> "/*ranking*/" of those projects.
>
> Additionally, I am wondering if you have completely forgotten about "The
> Sarbanes-Oxley Act following the "ENRON" fiasco in the United States of
> America.
>
> Re: "The Sarbanes-Oxley Act of 2002 is mandatory. ALL organizations, large
> and small,
>    MUST comply".
>
> http://www.soxlaw.com/
>
> The above mentioned therefore are scenarios in which the "usefulness" of the
> financial and economic functionalities being considered for integration may
> be demonstrated.
>
> I hope that all find this observation meaningful and purposeful.
>
> Kindest regards,
>
> Sheldon A. Britton
>
> David King wrote:
>>
>> Hi Dennis
>>
>>
>>>
>>> Can you recommend authoritative sources
>>>
>>
>> In short, I'm afraid not - there are many books about, but because I'm not
>> a specialist I think it would be unwise for me to recommend. I found
>> mistakes in one book... And many sources skirt around the detail.
>>
>> The good news is that we now have a pretty good understanding of what the
>> financial functions actually do - and I think ODFF will nail it down so that
>> future implementors can succeed (in a way that OOXML has not). The main
>> outstanding issue is probably the calendar systems, which David Wheeler is
>> working on I think.
>>
>> The bad news is that it's hard to know how useful (and used) the financial
>> functions are. Two of the Calc functions always return an error, and no-
>> one complained (I've raised an issue now). I suspect that despite the huge
>> effort of implementation, not many people find them useful, except for
>> students doing assignments. Personally, as things are at the moment, I'd
>> often be more inclined to go back to basic principles, so I could be sure of
>> the result...
>>
>>
>>>
>>> I'm concerned that we have authoritative subject-matter expertise for
>>
>> citation and also comparison with what various programs do.
>> Agreed, a good point, but it's hard to find the right *international*
>> expertise. Or at least I've found it so. I think the financial functions are
>> quite biased towards the US.
>>
>> We also have to remember that a spreadsheet is a general tool, and that
>> specialist software will always do more for that area. Like R and
>> statistics.
>>
>> Not sure it that helps at all...
>>
>> David
>>
>