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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 [0] 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 [0], 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   = 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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