RE: Authoritative Sources on Financial Calculations

["Dennis E. Hamilton" <dennis.hamilton@acm.org>]

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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