CFI-Excel-eBook

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The Corporate Finance Institute ExcelEOMONTHGet the last day of the month in future orpast monthsstart_datemonthsWhat is the EOMONTH Function?The EOMONTH Function is categorized under DATE/TIME functions. Thefunction helps to calculate the last day of the month after adding a specifiednumber of months to a date.As a financial analyst, the EOMONTH Function becomes useful when we arecalculating maturity dates for accounts payable or accounts payable that fall onthe last day of the month. It also helps in calculating due dates that fall on thelast day of the month. In financial analysis, we often analyze revenuegenerated by an organization. The function helps us do that in some cases.Formula=EOMONTH(start_date, months)The EOMONTH function includes the following arguments:1. Start_date (required argument) – It is the initial date. We need to enterdates in date format either by using the DATE function or as results ofother formulas or functions. For example, use DATE(2017,5,13) for May 13,2017. This function will return errors if dates are entered as text.2. Months (required argument) – It is the number of months before or afterstart_date. A positive value for months yields a future date; a negativevalue produces a past date.How to use the EOMONTH Function in Excel?To understand the uses of this function, let’s consider few examples:corporatefinanceinstitute.com44
The Corporate Finance Institute ExcelExample 1Let’s see what results we get when we provide following data:In Row 2, the function added 9 to return the last day of December (9+3). In Row3, the function subtracted 9 to return July 31, 2015. In Row 4, the function justreturned January 31, 2017. In Row 5, the function added 12 months andreturned the last day in January.In Row 6, we used the function TODAY so EOMONTH took the date as of todaythat is November 18, 2017, and added 9 months to it to return August 31,2018.Remember that the EOMONTH function will return a serial date value. A serialdate is how Excel stores dates internally and it represents the number of dayssince January 1, 1900.corporatefinanceinstitute.com45
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