[GNC-dev] Interest

[Michael or Penny Novack]

On 12/14/2018 10:26 AM, David Cousens wrote:
> Frank,
>
> Will give it a go. Hamid is possibly right in that it will be too complex to
> deal with the various possibilities but I will see if I can illustrate a few
> simple cases.
>
> David
It is definitely too complex. There are simply far too many variants 
possible. And many of them would not be properly entered as loans << 
except perhaps that "iron sheep" contract (illegal* in Jewish law 
referring to no interest "loans" >> I mentioned which DOES have a 
definite minimum amount that must be repaid >>

What I would suggest is that before any attempt is made to code or even 
describe how in documentation is that a discussion be opened in the user 
group where people can describe variants. While I am against us 
"amateurs" giving accounting advice, this is a situation where standard 
accountant training might not be useful and the average accountant 
likely to respond "I never heard about an arrangement like that". Once 
we have classified variants, we would be in a better position deciding 
how to proceed.

Michael D Novack

* In effect partnership agreements where upon dissolution, capital 
returned based on percentage  contributed, both partners share in 
profits (per what is agreed) but one bears all the risk of loss. In 
other words, a "loan" where instead of interest, the lender receives a 
share of profits (but bears no risk if a loss).