Skip to main content
Tweeted twitter.com/#!/StackFinance/status/308615525519482881
spelling spelling
Link
DJClayworth
  • 34.3k
  • 7
  • 89
  • 123

Is there a generally exceptedaccepted term for fractions of Currency Units?

Source Link
MrEdmundo
  • 151
  • 1
  • 3

Is there a generally excepted term for fractions of Currency Units?

If you imagine in the stock market prices are often quoted to many decimal places.

For example: USD 27.4955

This smells like a monetary value e.g. it has a currency code and a value however it doesn't look like money because of course if you asked me to give you $24.4955 I can't.

Is there a term in accounting that describes this sort of "approximate" value which seems a lot like money but isn't quite?

For clarity my definition of "money" is real world amounts specific to the Major and Minor units that that currency can be quoted in.