The collection of financial functions in Sheets deal with money and the related effects of interest and dividends over time. In order to compare and analyze different types of securities, formulas have been developed to arrive at future value, present value, expected rate of return and so forth. While many of these calculations can be bandaged together with more simple functions, usage of the financial functions can prove to be more efficient and accurate once they are mastered.

Also grouped into financial functions are depreciation calculations. When property, plant, or equipment is purchased that is expected to provide benefit for more than one year, according to GAAP, a company should depreciate it. The depreciation method that is closest to the actual usage pattern should be used. In real-world application, this is usually straight line, but it could be an accelerated method such as double declining balance or sum-of-the-years-digits which is far easier to calculate with the help of these functions.

Video showing the different depreciation functions