What is an Independent Director? An independent director, in corporate governance, refers to a member of a board of directors who does not have a material relationship with a company and is neither part of its executive team nor involved in the day-to-day operations of the company. Independent Directors – A Requirement to List on…
What are Swap Contracts? Swap contracts are financial derivatives that allow two transacting agents to “swap” revenue streams arising from some underlying assets held by each party. For example, consider the case of an American business that borrowed money from a US-based bank (in USD) but wants to do business in the UK. The company’s…
What is Market Efficiency? Market efficiency is a relatively broad term and can refer to any metric that measures information dispersion in a market. An efficient market is one where all information is transmitted perfectly (everyone receives the information), completely (everyone receives the entire information), instantly (everyone receives the information at once), and for no…
What is the ARABIC Function? The ARABIC Function is an Excel Math and Trigonometry function. The function will convert a Roman numeral to an Arabic numeral. It was introduced in MS Excel 2013. Syntax =ARABIC(text) Where: Text (required argument) – The text is a string enclosed in quotation marks. It can also be an empty…
What is the CONCATENATE Function? The CONCATENATE Function is categorized under Excel Text Functions. The function helps to join two or more strings into one string. As a financial analyst, we often deal with data when doing financial analysis. The data is not always structured for analysis and we often need to combine data from…
What is the EOMONTH Function? The EOMONTH Function is categorized under Excel Date/Time functions. The function helps to calculate the last day of the month after adding a specified number of months to a date. As a financial analyst, the EOMONTH function becomes useful when we are calculating maturity dates for accounts payable or accounts…
What is the EDATE Function? The EDATE Function is categorized under Excel DATE/TIME Functions. The function helps add a specified number of months to a date and returns the result as a serial date. Apart from helping a financial analyst calculate maturity dates for accounts payable or accounts receivable that fall on the last day…
What is the PERMUTATIONA Function? The PERMUTATIONA Function is an Excel Statistical function. It returns the number of permutations that are possible for a specified number of objects in a given set. Introduced in MS Excel 2013, it’s important to note the function includes repetitions in the number it returns. Formula =PERMUTATIONA(number, number_chosen) The PERMUTATIONA function…
What is the CODE Function? The CODE Function is categorized under Excel Text functions. It returns a numeric code for the first character in a given text string. The returned code corresponds to the character set used by the computer. The Windows operating system uses the ANSI character set, whereas Mac OS uses the Macintosh…
What is the TEXTJOIN Function? The TEXTJOIN Function joins text from two or more strings together with a delimiter separating each value. Introduced in MS Excel 2016, TEXTJOIN is categorized as an Excel String/Text function. Formula =TEXTJOIN(delimiter, ignore_empty, text1, [text2], …text_n) The TEXTJOIN function uses the following arguments: Delimiter (required argument) – The string that…
