0709 Date Formulas - EOMONTH() for Financial Modeling, Budgets, Due Dates

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Hello everybody, this time we talk about a Formula E Omen something that is going to be very useful in case you are in any manner connected to the field of finance, financial modeling, investment banking, accounting, taxation, and you will soon find out why. Before discussing this formula, let me illustrate some of the questions question number one at a hypothetical level, what if I want to find out end of the current month, the month to which the date pertains to that was case number one. So, for example, I wish to have 31st December 2012, we're sorry, my mistake 31st January 2012. Then I wish to have 30th, September 2010. It's the end of the current month. case number two.

What if I tell you that these are the invoice dates and the tax related to this invoices must be submitted by fifth of the next month. So I wish to have the Details five of F Eb 2012 I wish to have fifth of March 2011 in this case and so on. That was case study two, case three, where if i given certain dates I wish to find out first of the current month. So, in this case first of September 2014 now All this can be achieved through the formula of Yo man. So, let me take case by case basis. first case, I want enough current month so I write equal to E om, I press the Tab key.

I choose the starting date. And then it asks me how many months Do you want to jump ahead before you find the end of the month? I say zero y zero, because had I given one it would have said for this particular date 17 January 217 February and then finding the end of that 17th February date. Right now, I want three fourths john. Let me test with one until you get 29% Why 17 January jump one month ahead and you get end of the month 2950 k stew. I want 50 off next month.

So how do I achieve this I write equal to e o m, I press the Tab key, I choose a starting date, and then I put zero as expected, it's going to give me end of the current month. But wait, I'm just going to add plus five towards the formula end and that will give me what Yes, fifth of next month. Notice any kind of calculation which involves fifth of next month seventh of next month 15th of next month, you can apply this formula case three, where if you want to find out first of the current month, first of current month, so how do I put that formula in? Let me write equal e o m, d, I choose the starting date. Now I give minus one What is minus one going to give me? Well, it's going to give me 31st of August 2014.

In this case, which means it is jumping back one month, saying from 23rd, September to 23rd of August and then 23rd of August it takes us a benchmark and then finds the end of that month. Now, this is not the answer. The final answer is when I simply add an additional one day towards the end of this formula, which means now first of September 2014. So notice how these combination can quickly change the scenario using simple formula e o month. Practice this and trust me once in a while you will get to use this

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