Day-count convention
In accounting, day-count convention means the rule that turns a date range into a fraction of a year for interest — 30/360, actual/360, actual/365, actual/actual. The same rate on the same loan accrues a different amount under each.
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Not a rule
Market convention (ISDA definitions) — not codified. US GAAP governs recognition, measurement and presentation — not the mechanics a bookkeeper uses to get there. Anyone citing a standard for this word is citing the wrong thing.
Every citation in this system, with the text we read and the date we checked it, is in US GAAP and where these rules come from.
What it is not called
Each of these is a real word for a different thing. Using it here is what makes a product read as though it was built by someone who has not done the work.
- days unqualified
- interest method
Nearby in the catalog
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Also in Cash
Work with this concept
The calculators that compute it and the ledger payloads that carry it. A definition is where a reader starts; these are where they go next.
Defined in Lexicon. This page is generated from that document, so the two cannot disagree.