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Subject: RE: Authoritative Sources on Financial Calculations
Sheldon, I have found a goldmine of the kind of "authoritative" sources I was looking for. I am embarrassed to report that my best resource was Wikipedia (where I suppose I should have checked first) with regard to "financial mathematics," "day count conventions" and "compound interest." There are a number of useful sources in the descriptions and references in those articles. I have also had considerable success with a search for "Standard Securities Calculation Methods," some of which refer to standards in various industry groups and also a couple of authorities whose specifications have been broadly adopted. There is also some reference software that can be used for test cases and comparison of other methods. This is going to keep me very busy. Some of the source materials are irregular in their treatment and a few are quite comprehensive. Those are the ones I seek. I suspect David Wheeler is aware of these, and I probably should have consulted him first in any case. The short document that you posted is also useful as an overview of financial analysis for which good authoritative sources will also be valuable. - Dennis -----Original Message----- From: Sheldon Britton [mailto:sab_orion@verizon.net] Sent: Sunday, September 07, 2008 14:35 To: dennis.hamilton@acm.org Cc: 'ODF Users List'; David A. Wheeler Subject: Re: Authoritative Sources on Financial Calculations Hello Dennis; Re: "I am unable to find where on the IDB site where they provide any specifications or sources concerning financial analysis functions,computations with regard to financial instrument, etc." With your kind permission I am forwarding this email request for "Authoritative Sources on Financial Calculations" to the Country Representative/s of the Inter-American Development Bank in Guyana, South America for any assistance in this regard. Also, while I am not quite certain what pertains to present day employment by the IDB with regards to that of the Economic Rate of Return (ERR) and any other Functionalities... the attached procedures were known to have been previously "manually" employed during project evaluation and execution exercises in Guyana. I am please to let you know that on behalf of my company we are very much interested in this review of financial functions by the various committees and have a keen interest in knowing the current list of functionalities which have been adapted by authoritative sources on these financial functions and how they are understood and applied by domain experts. It is the belief that we can confidently look forward to a positive and timely response from the IDB Country Representative/s in Guyana concerning the above mentioned; and, this is to say thanks beforehand. Kindest regards, Sheldon A. Britton Chairman/CEO Orion Enterprises and Orion Resources International - Business Partner - IBM PartnerWorld for Developers Dennis E. Hamilton wrote: Thanks for the links. I am unable to find where on the IDB site where they provide any specifications or sources concerning financial analysis functions, computations with regard to financial instrument, etc. The UNIDO COMFAR III software must certainly involve use of the functions akin to those we have been discussing for OpenFormula. It is difficult to tell if the software documentation specifies the principles and authority for the COMFAR computations (or if UNIDO is considered such a source). Do you have any further information on that? I'm very interested in authoritative sources on those financial functions as they are understood and applied by domain experts. I know the association of securities analysts in the US has published rules related to the YEARFRAC 360-day year basis, for example. If you have more-specific citations in addition to those you just provided, that would be very useful. Thank you, - Dennis PS: The opendocument-users list at OASIS is fully open to the public, but you must subscribe to it. There is information at http://www.oasis-open.org/committees/tc_home.php?wg_abbrev=office under the "Mailing Lists and Comments" topic. I'm discussing this there because (1) we are not commenting on the specifications and (2) as an ODF TC member, it is inappropriate for me to comment "inward" using the office-comment list (and even though I don't completely understand why that's necessary, that is the rule). -----Original Message----- From: Sheldon Britton [mailto:sab_orion@verizon.net] Sent: Sunday, September 07, 2008 10:20 To: David King Cc: office-comment@lists.oasis-open.org; ODF Users List; robert_weir@us.ibm.com; David A. Wheeler; Dennis E. Hamilton Subject: Re: [office-comment] ODFF: XIRR Hello David, Re: "Dennis E. Hamilton's question to you.." If I may, I would be please to refer to the following sources which may be in a position of authority with regards to the "/*financial analysis functionality et al*/" that were mentioned by Dennis E. Hamilton in his email to you. These sources are as follows:- 1. *The Inter-American Development Bank (IDB)*. http://www.iadb.org 2. *The United Nations Industrial Development Organization (UNIDO)*. http://www.unido.org/index.php?id=o3470 I sincerely trust that these sources are most welcome and may be in a position to provide the information sought by the respective committees concerned with the approval of "ODF definitions of operations, including OpenFormula functions". Have a very pleasant day. Kindest regards, Sheldon A. Britton David, Allow me to echo Rob's sentiment. I find your questions and comments very useful and something to think about. I do have a question for you, although I appreciate that your attention has moved to other matters. Here's my question: Can you recommend authoritative sources that establish the principles that are behind certain functions, especially in financial analysis, treatment of securities and accounts, and so on, that should be referenced for guidance of those who want to implement appropriate functions in electronic spreadsheets and their formulas? I'm particularly interested in rules that are used in accounting and financial practice, and the authoritative sources of those rules. I'm concerned that we have authoritative subject-matter expertise for citation and also comparison with what various programs do. Any advice that you have would be very welcome. I invite you to discuss this further on the office-user list, saving the -comment list for comments that are specific to the ODF definitions of operations, including OpenFormula functions. Regards, - Dennis [ ... ]
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