Dax Function: ACCRINTM

Category: Financial Functions

The ACCRINTM function in Power BI (DAX) calculates the accrued interest for a security that pays interest only at maturity rather than in periodic installments.

Purpose

• Helps determine the interest accrued from the issue date to the maturity date for bonds or financial instruments with a single payment at maturity.

• Useful in fixed-income investment analysis where interest accumulates over time and is paid in one lump sum.

Type of Calculations

• Computes simple interest accrual based on the issue date, settlement date, annual rate, face value, and day count basis.

• Determines the total interest earned at maturity rather than interim periods.

Practical Use Cases

• Bond Pricing Models: Calculate the total accrued interest for zero-coupon bonds.

• Investment Valuation: Assess the value of investments that do not make periodic payments.

• Accounting & Reporting: Recognizing interest income for securities held until maturity.

How Does ACCRINTM Dax Function Works

The accrued interest formula used by ACCRINTM is:

• Accrued days are determined based on the selected day count basis.

• Interest is not compounded—it’s a simple interest calculation.

• If settlement_date is before issue_date, the function returns an error.

What Does It Return?

The function returns a decimal value representing the total accrued interest for the security from the issue date to the maturity date.

When Should We Use It?

• Investment Analysis: When evaluating zero-coupon bonds or other securities with a single interest payout at maturity.

• Financial Forecasting: To project interest earnings on long-term fixed-income investments.

• Accounting Compliance: Calculating accrued interest for end-of-year financial reporting.

Examples

Basic Usage :

Result: Calculates accrued interest for a bond issued on Jan 1, 2023, maturing on Jan 1, 2025, at a 6% annual rate.

Column Usage:

If we have a table Investments with:

• Issue Date

• Maturity Date

• Rate

• Par

We create a calculated column:

Computes accrued interest dynamically for each security.

Advanced Usage – Portfolio Interest Calculation

Aggregates total accrued interest across multiple investments.

Tips and Tricks

• Ensure settlement_date is after issue_date, or the function will return an error.
• Use correct day count basis for accurate results.
• Combine with SUMX for portfolio-level calculations.

Potential Pitfalls

• Incorrect basis selection can affect calculations.
• Does not support periodic payments—only for securities with single maturity interest.

Performance Impact of ACCRINTM DAX Function:

• Works efficiently on row-level calculations.
• May slow down with large datasets—optimize with SUMX.

Related Functions You Might Need

• ACCRINT – Calculates accrued interest for bonds with periodic payments.

• FV (Future Value) – Determines the future value of an investment with interest.

• PV (Present Value) – Calculates the present value of future cash flows.

Want to Learn More?
For more information, check out the official Microsoft documentation for ACCRINTM You can also experiment with this function in your Power BI reports to explore its capabilities.

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