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In the business world, you often hear the terms "EOD" and "COB." But what do they mean? "EOD" stands for "end of day," while "COB" stands for "close of business." In this blog post, we'll explain how to use them and when you should use each term.
EOD refers to the end of the business day. The exact time that constitutes the end of the day varies from business to business, but it is typically around 5:00 or 6:00 pm. Any deadlines or tasks that need to be completed by the end of the day should be finished by this time.
End of day can mean different things depending on the context in which it's used. For example, if you're a bank teller, end of day might mean the time at which the bank closes its doors to customers. Similarly, if you work in retail, end of day might mean the time at which the store closes.
A common synonym used is COB, which refers to the close of business. This is the very end of the business day when all tasks and deadlines have been completed. It is typically around 5:00 or 6:00 pm, just like EOD; as you can see, these are synonyms.
There are multiple synonyms for End Of Day, such as EOB, which means End Of Business, EOP, which means End Of Play, and COP which means Close Of Play.
You can use these terms in a variety of ways. For example, you might say, "I need that report on my desk by EOD" or "I'll have that proposal ready by COB." You can also use them as shorthand when writing out dates and deadlines. For example, instead of writing out "July 31st at 5:00 pm," you could simply write "7/31 EOD." Here are some more examples:
In each of these examples, you can replace the word "EOD" and "COB" with "EOB", "the end of business", or any of the other synonyms above.
The exact business hours will depend on your company. They typically vary between 8 am-5 pm or 9 am - 6 pm. So EOD is typically at 5:00 pm or 6:00 pm. Keep in mind that some companies have different hours of operation on Fridays, so end of day might be 4:00 pm or 5:00 pm on Fridays.
To calculate the number of business days between two dates, you will need to consider both weekends and holidays. For example, if you are calculating the number of days between Monday, January 1st, and Friday, January 5th, you would only count four days because Saturday and Sunday are not business days.
To make things a little more complicated, you must also account for holidays when calculating business days. Let's say you are calculating the days between Monday, December 25th, and Friday, December 29th. In this case, you would only count three days because Monday is a holiday (Christmas).
EOD and COB are commonly-used terms in the business world. Now that you know what they mean and how to use them, you'll be able to communicate more effectively with your colleagues. Remember that EOD refers to the end of the business day, while COB refers to the close of business. Both terms are typically used interchangeably to refer to the same time (around 5:00 or 6:00 pm). And finally, you can use these terms in various ways - for example, when setting deadlines or giving instructions to colleagues.