currencies

[Terry Boon]

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On Thu, Sep 28, 2000 at 09:20:29AM -0500, Bill Gribble wrote:

>    Other standards we should be aware of but I haven't tracked down
>    (referenced from the above software feature summary page):
>   
>    Statements of Standard Accounting Practice 20 
>       (the United Kingdom and Canadian authoritative pronouncement)

[other standards - snip]

>    Don't know where to find these; they're probably out there
>    electronically somewhere.

I don't know of an online source which provides the UK accounting
standards free of charge.

The following is a summary of SSAP 20 on the web site of the
Accounting Standards Board:

http://www.asb.org.uk/publications/publication129.html

They don't seem to sell it as an individual standard any more, but it
is available in compiled volumes of UK accounting standards (GBP 32 at
amazon.co.uk for the book "Accounting Standards 1999/2000" (ISBN
1853550906), or GBP 140 for a CD-ROM.

SSAP 20 addresses two situations:

 - a single entity making transactions in foreign currencies

 - a group of companies required to prepare consolidated group
   accounts, where the companies are operating in different
   currencies.

The first situation is most relevant to the needs of Gnucash.

The SSAP defines how to prepare accounts that are expressed entirely
in a single currency (usually GBP for UK companies).  I can put
together a brief summary of the SSAP 20 rules in the next day or two
- -- would that be useful?

Best wishes,
Terry

- -- 
Terry Boon, Hertfordshire, UK
terry@counterfactual.org 
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