COB Full Form

COB is the end of the business . It discloses the company's dealings for the day. The closure depends on industry to industry as the  financial markets. It is also used to point to the end of a trading day.

What is COB?

COB is Known as Close of Business.

End of day (EOD), end of business (EOB), close of business (COB), close of play (COP), or end of the play (EOP) is the end of the exchange day for money related markets, the moment when trading stops. In certain business sectors, it is characterized as the point in time a couple of moments before the real suspension of exchange, when the regular dealers' orders are no longer received. During this period, the market is performing what is known as a "Run To Cash", which is the point at which the market is accommodating to its basic money advertisement. COB timings also vary from country to country and industry to industry. EOB, COB, and COP in the US are at 5:00 pm (however commonly 5:30 pm) as per the rule. In the United Kingdom, EOD is 23:59 according to the time zone.

Key Differences between COB and EOD

It is very important to know the difference between the COB and the EOD to carry out any kind of work on a particular day. Once the difference is known, it is very easy to know if the work has to be completed on the same day or can be carried forward to the next working day.

Both "EOD" and "COB" serve the similar need of setting a timetable, or desire, of specific deliverables or action items.

For "EOD": Using EOD could be comparative with the individual's timezone or work routine. It’s bound in the time frame (end of the business day). Often it is considered as 5:00 pm but it may change as time zones are related to people's work and location.

Dependable Guideline for utilizing EOD

If you follow a few guidelines it makes communication more simple and transparent with less confusion at work. For example: if A person is working in the U.S. and trying to connect with a B person who is working on the same project but in a different place i.e. the U.K., it can be shared in the form of video calling, mail, or chat such as: Hi sam it was nice meeting you about our annual conference. Kindly share with me the complete project reports by EOD (End of the day) at 5:00 pm tomorrow (Monday).

For "COB": 

Using COB, you can be in any event. Be sure it's an all the more regularly utilized abbreviation in the business world. Depending upon the business, however, you in some cases can run into the equivalent timezone concerns as EOD.

A General Guideline for utilizing COB

While utilizing "COB", realize that the end of the business is normally referring to the Eastern Time Zone of 5 pm because New York City and the money-related markets characterize business hours truly.

When should I use COB?

As referenced above, utilizing these abbreviations can be somewhat unclear and confounding from the start. So, as to dodge potential issues which can happen, you, as a business, should set away from the clarifications of what each one of the terms speaks to. Some of them are simple. However, when we talk around ones that are not self-evident, they ought to be recorded so individuals wouldn't commit errors. 

Presently, concerning when you should utilize shortened forms, it truly relies upon the organization, bosses, representatives, and the subject being referred to or the line of business. maybe it is smarter to speak with your partners reasonably and directly, without utilizing such a large number of shortened forms. 

On the other hand, in an event where you are working in a worldwide company with individuals from people across the world (who work in various time zones), you should do something very similar and incorporate the exact date and time for due dates, including the particular time zone in your message.

Use of COB and EOD

COB can be termed as the time where the work should be carried. The full length of it means “close of business” and it represents the time when you are supposed to go home from work.

On Email

For clients out of state or out of the country, use COB to give deadlines. There is a specific time .

Companies use Acronyms in Communication

Usually the companies  use abbreviations to save time and also to talk to the clients and employees. If a manager regularly assigns deadlines to employees the  acronyms make it easier. Clients can also use acronyms for  meeting dates or project deadlines while saving time and avoiding the need to type long words or sentences.

Use of COB in the Workplace

The COB is very important but you need to clarify a specific time and date with clients or employees if they’re unsure of the acronym or your time zone. Use COB for existing clients and employees. Use the acronym COB when there is a deadline or if there is a request for any projects from the clients.