Power Pivot Principles: The A to Z of DAX Functions – ACCRINTM
22 February 2022
In our long-established Power Pivot Principles articles, we continue our series on the A to Z of Data Analysis eXpression (DAX) functions. This week, we look at ACCRINTM.
The ACCRINTM function
The ACCRINTM function returns the accrued interest for a security that pays interest upon maturity. This differs from the ACCRINT function discussed last time as that pays interest on a periodic basis.
To use ACCRINTM, please note the following syntax:
=ACCRINTM(issue_date, maturity_date, rate, par, [basis])
The arguments are defined as follows:
- issue_date: this is required and represents the issue date of the security
- maturity_date: also mandatory, this is the, er, maturity date of the security
- rate: this is required too and is the security’s annual coupon rate (be careful this is entered correctly)
- par: another necessary argument, this is the security’s par value, which is the face value of a share or other security rather than its market value
- basis: this is an optional argument (assumed to be zero  if omitted). There are five options:
|Basis||Day count basis|
|0 or omitted||US (NASD) 30 / 360|
|1||Actual / actual|
|2||Actual / 360|
|3||Actual / 365|
|4||European 30 / 360|
It should be noted that:
- dates are stored as sequential serial numbers so they can be used in calculations. In DAX, December 30, 1899 is day zero , and January 1, 2008 is 39448 because it is 39,448 days after December 30, 1899
- ACCRINTM is calculated as follows:
o A = number of accrued days, according to a monthly basis. For interest at maturity items, the number of days from the issue_date to the maturity_date is used
o D = annual year basis
- issue_date and maturity_date are truncated to integers
- basis is rounded to the nearest integer
- an error is returned if:
o issue_date and / or maturity_date is / are not (a) valid date(s)
o issue_date ≥ maturity_date
o rate ≤ 0
o par ≤ 0
o basis < 0 or basis > 4
- this function is not supported for use in DirectQuery mode when used in calculated columns or row-level security (RLS) rules.
Please see my example below:
returns the accrued interest of 20.55, for a security with the terms specified above.
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