Hi there could someone explain what is happening in the following function/statement for me, im just a little confused

code = 'BEGIN{FS=","}
{
printf ("%-11s,%s%s%s,%07.2f,%14s,%-3s\n",$1,substr($2,9,2),substr($2,6,2),substr($
2,3,2),$9,$10,$12)
}

this function is called later in the script by using

awk "$code"


any guidance would be greatly appreciated

cheers