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The objective of the present paper is to investigate an almost-pseudo-Ricci symmetric FRW spacetime with a constant Ricci scalar in a dynamic cosmological term <inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><mrow><mo>Λ</mo><mo>(</mo><mi>t</mi><mo>)</mo></mrow></semantics></math></inline-formula> and equation of state (EoS) <inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><mrow><mi>ω</mi><mo>(</mo><mi>t</mi><mo>)</mo></mrow></semantics></math></inline-formula> scenario. Several cosmological parameters are calculated in this setting and thoroughly studied, which shows that the model satisfies the late-time accelerating expansion of the universe. We also examine all of the energy conditions to check our model’s self-stability.