ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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PRESENT VALUE Definition
PRESENT VALUE is the discounted value of a payment or stream of payments to be received in the future, taking into consideration a specific interest or discount rate. Present Value represents a series of future cash flows expressed in todays dollars. A given amount of money is almost always more valuable sooner than later, so present values are generally smaller than corresponding future values.
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BUILDING SOCIETY, similar to a Savings and Loan in the U.S., is a UK savings institution that specializes in loans for house purchase. Their members own building societies.
STRIPPED BOND is a bond that can be subdivided into a series of zero-coupon bonds.