ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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MODIFIED INTERNAL RATE OF RETURN Definition
MODIFIED INTERNAL RATE OF RETURN is the rate of return which equates the initial investment with the terminal value, where the terminal value is the future value of the cash inflows compounded at the required rate of return (the opportunity cost of capital).
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RECEIPTS this term, unless otherwise qualified, in accounting means cash received.
EXPENSES are the daily costs incurred in running and maintaining a business. See expenditure.