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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:

where:

• 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
• = annual year basis
• issue_date and maturity_date are truncated to integers
•  basis is rounded to the nearest integer
• an error is returned if:
• issue_date and / or maturity_date is / are not (a) valid date(s)
• issue_date ≥ maturity_date
• rate ≤ 0
• par ≤ 0
• 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.