Currency accounts

[J. Milgram]

> From: "Kenneth Hoffmann" <hoffmak2@cc.wwu.edu>
> 
> "Statement 52 of the FASB ...  takes a two-transaction view
> to account for foreign currency denominated transactions. This approach
> holds that the difference between the U.S. dollar cash flow at inception and
> settlement of a transaction due to changes in "spot" rates (i.e., the rate
> at which one currency can be converted into another) represents a foreign
> exchange gain or loss to be included in income. ..."

This makes sense, thanks.

I think I confused the issue by describing in context of a
transaction. It would be more accurate to simply say that I bought DM
on one day, sold on another, the exchange rate changed, I made
money. How would this be represented in the GnuCash scheme of things?
Assuming I want it to show up as income.


Judah

Judah Milgram                             milgram@cgpp.com
College Park Press                        http://www.cgpp.com
P.O. Box 143, College Park MD, USA 20741  +001 (301) 422-4626 (422-3047 fax)