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Eagle Accounting calculates the cash flow from the Settlement Date of the trade, to create the expected cash flow for the calculation of amortization yield, trade yield, generation of future cash flows, and for accrual processing. Eagle Accounting uses the period from Dated Date to First Coupon Date to create the first coupon period, because the first coupon period of a security can be a long-length coupon period, a short coupon period, or a normal length coupon period.
A Long Length Coupon Period is a coupon period that contains more accrual days than would normally occur, based on the payment frequency of the bond.
A Short Length Coupon Period is a coupon period that contains less accrual days than would normally occur, based on the payment frequency of the bond.
Create the Second to Penultimate Coupon Period
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