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Re: Playing Accountant
From: |
^chewie |
Subject: |
Re: Playing Accountant |
Date: |
Mon, 19 Mar 2001 13:48:12 -0600 |
User-agent: |
Mutt/1.2.5i |
> The issue Derek raised wasn't about fluctuating exchange
> rates AFAICT. It was more about the changes in the value
> of a single currency over time. His example for instance
> argues that the value of 1 dollar today is different from
> the value of 1 dollar in 60 years time. Both are still
> called 1 dollar though. I believe this is what is termed
> inflation but I stand to be corrected. Of course inflation
> can be positive as well as negative (devaluation).
I think it's fairly reasonable to assume that accountants
would be most interested with the value of conversion at
times when financial reports are due and/or declared
"official", such as quarterly and annual reports.
Regardless, this is a time period issue, and maintaining a
record of the convertion charts is a Good Idea(tm). Reports
could/(should) provide an option to report monetary units of
measurement relative to the conversion factor applicable for
the time period on the report. Likewise, the report
could/(should) state the effective conversion factor(s) used
for which time period(s).
Disclaimer: ^chewie != accountant. ;-)
--
^chewie
Re: Playing Accountant, Derek A. Neighbors, 2001/03/19
Re: Playing Accountant, Rich Bodo, 2001/03/19
RE: Playing Accountant, Todd Boyle, 2001/03/19