COB and EOD Meaning, Origin and Examples

Last updated on September 6, 2024 by Isabella Claire

If you are into business then it is quite likely that you would have come across short forms such as EOD and COB. What exactly do they stand for and when and how they are used? Are there any other options that could replace these two short forms? When and how these acronyms actually originate? Why should these acronyms be used?

We will try and find answers to the above questions over the next few lines. We are sure that it will be useful for those who are seeking answers to the above questions or even for those who evince interest in various types of acronyms that are being regularly used.

COB And EOD Meaning

  • COB (Close of Business) refers to the end of the business day, typically around 5:00 or 6:00 PM local time, while EOD (End of Day) generally refers to the conclusion of the calendar day, often used interchangeably with COB but can sometimes extend beyond standard business hours, depending on the context.
COB and EOD Meaning
COB and EOD Meaning – Created by 7ESL

What Does EOD Mean?

The short-form EOD is mostly used in business and commercial parlance. As the expansion for EOD is End-of-Day, the short form is used to denote the fact that the business or commercial activities have come to an end for the particular day. If you look at automated accounting procedures and other such tools being used in companies, you will often find that the personnel concerned run through the EOD process. This updates the books of accounts and ensures that all activities that were done during the day are reflected in the accounting entries for the day.

What Does COB Mean?

COB means close of business and for all practical purposes, it has the same meaning, significance and importance as EOD. It is mostly used in the US context to set a deadline for tasks to be completed by 5.00 PM EST.

Origin of Acronym EOD & COB

Though there are no documented papers that could point out to the exact date of origin of the short form EOD or COB, it is generally believed that it was first used during the 1800s. However, it has started gaining popularity only as late as the 1980s. This is perhaps because of the growing popularity of computers and automated accounting systems, where the concept of EOD became quite important.

Not much is known about the approximate date of origin of COB but it should perhaps have originated during the early part of the 20th Century.

Related Terms to COB and EOD

Here are some related terms to COB (Close of Business) and EOD (End of Day):

  1. BOD (Beginning of Day): Refers to the start of the business day, typically around 8:00 or 9:00 AM local time.
  2. EOB (End of Business): Another term used similarly to COB, indicating the end of the business day.
  3. TAT (Turnaround Time): The time it takes to complete a task or fulfill a request, often calculated from the BOD to COB.
  4. SLA (Service Level Agreement): A commitment between a service provider and a client that often specifies time frames such as EOD or COB for completing tasks or responding to requests.
  5. Next Business Day: Refers to the next working day, excluding weekends or public holidays, often used in the context of deadlines set for COB or EOD.
  6. ASAP (As Soon As Possible): Indicates urgency but without a specific deadline, often used in conjunction with EOD or COB to clarify the desired timeframe.
  7. Quarter Close: Refers to the end of a fiscal quarter, a term that might coincide with deadlines marked by EOD or COB.
  8. GMT (Greenwich Mean Time): A time zone reference often used to clarify COB or EOD deadlines in international communications.

These terms are often used in business settings to specify deadlines, organize tasks, and set expectations for response times and deliverables.

COB and EOD Examples

Here are some examples of use of EOD from a typical accounting point of view:

  • Please run through the EOD processes in the automated accounting system, once all transactions for the day are complete.
  • Ensure that the EOD figures as shown by the automated accounting system tallies with the manual system if any. If there is a difference, please make sure that the reasons for differences are identified to the last dollar.
  • It is time that we tallied our books of accounts simultaneously when closure of business – COB has been announced.
Latest posts by Isabella Claire (see all)