fixed assets

[Elmar Schmeisser]

This is strictly non-business :)  MY house, MY car - I want to get GC to
calculate my "net worth" in essence.  So I have the purchase price of my
house (paid off btw if that matters), and Zillow will every so often
give me an updated value on my house.  Likewise, Kelly Blue Book (among
others) will give me updated (lower of course) values on my (paid off)
car.  How can I handle this in GC? - Elmar

On 6/10/2016 7:11 PM, John Ralls wrote:
> 
>> On Jun 10, 2016, at 3:42 PM, Elmar Schmeisser
>> <eschmeisser at nc.rr.com> wrote:
>> 
>> I have a question on how to update the value of fixed assets (car, 
>> house, etc.).  One can of course assign a value when the asset is 
>> created in GC, but what account does the appreciation/depreciation
>> come from? - Elmar
> 
> That's more of an accounting question than a GnuCash one, and if this
> is for a business you should consult a licensed accountant for
> advice. In the USA depreciation is normally an expense. Change in
> market value is not normally entered into accounts until the asset is
> sold unless one is a bank large enough to be subject to Dodd-Frank
> which requires those banks to "mark to market" certain liabilities.
> In GnuCash one could create a security representing the asset and add
> prices for it in the price editor; its "market value" will then show
> on the Accounts page without affecting its "book value" in the
> register.
> 
> Regards, John Ralls
> 
> 
> 
>