Inability to correct GBP value for Euro priced shares

[Maf. King]

Hi Eric,

Are you sure you're getting the correct price for the shares?

There's a stock called AIR which is (presently) USD 34.64, and given the 
current $/£ rate makes 89 shares worth around £4k.

You may be after the stock AIR.PA, showing right now as €73.50


gnc-fq-dump yahoo_europe AIR.PA

Finance::Quote fields Gnucash uses:
    symbol: AIR.PA               <=== required
      date: 06/08/2017           <=== recommended
  currency: EUR                  <=== required
      last: 73.50                <=\       
       nav:                      <=== one of these
     price: 73.50                <=/        
  timezone:                      <=== optional


HTH,
Maf.



On Thursday, 8 June 2017 14:36:07 BST Eric Coates wrote:
> 8th June 2017
> 
> I’m having trouble with getting a valuation (in pounds sterling –
> hereafter GBP – I am based in the UK) for a share I own that is priced
> in Euros.
> 
> To bore you with the details my original account listing was of this form:
> 
> Assets
> 
>  >My Assets
>  >
>  >>My Portfolio
>  >>
>  >>>My Cash
>  >>>
>  >>>My Shares
>  >>>
>  >>>>Airbus Group
>  >>>>
>  >>>> Standard GBP denominated shares
> 
> etc etc
> 
> At this point everything except “Airbus Group” was denominated in GBPs,
> Airbus Group was denominated in Euros.
> 
> I noticed the problem when I realised that value of the Airbus Group
> shares (in the column headed "Present(GBP)"was given as £3989 but the
> real value should be 89(the number of shares)*€73.07(the value of each
> share)*0.87(the Euro to GBP exchange rate) ie £5658. (All the numbers
> are rounded.)
> 
> Using the information I found during various web searches (insofar as I
> understood it all) it seemed the problem might be that the account “My
> Shares” was denominated in GBP but “Airbus Group” is denominated in
> Euros. I modified the account structure to the following form:
> 
> Assets
> 
>  >My Assets
>  >
>  >>My Portfolio
>  >>
>  >>>My Cash
>  >>>
>  >>>>Cash Euros
>  >>>>
>  >>>>Cash Pounds
>  >>>
>  >>>My Eurex Shares
>  >>>
>  >>>>Airbus Group
>  >>>
>  >>>My LSE Shares
>  >>>
>  >>>> Standard GBP denominated shares
> 
> etc etc
> 
> With “Cash Euros”, “My Eurex Shares” and “Airbus Group” denominated in
> Euros, everything else is denominated in GBPs.
> 
> I transferred some funds from “Cash Pounds” to “Cash Euros”; the
> original “Airbus Group” was deleted and a new account was reconstituted
> (there were very few entries) with the purchase made from “Cash Euros”.
> 
> The result was that the GBP value of the Airbus shares was (still) shown
> as £3989.
> 
> More web searches revealed nothing that I recognised as of relevance.
> 
> The only thoughts that I have that may be significant are:
> (A) “Cash Euros” and “Airbus Group”, although denominated in Euros, are
> deep(ish) in a tree denominated in GBPs and, in particular, “Cash Euros”
> is a sub-account of “My Cash” which is denominated in GBPs. Does this
> somehow interfere with the correct accounting?
> 
> (B) My broker pays Airbus dividends to me in GBPs and thus some of the
> transactions in the “Airbus Group” account reference the “Cash Pounds”
> account. If this is the problem: assuming the dividend I receive is
> £12.34 would it be possible to credit €12.34 to “Cash Euro” and transfer
> it to “Cash Pounds” at an exchange rate of 1:1 without screwing up
> something else?
> 
> I suppose I could just live with the “error” but what is accounting
> without accuracy!
> 
> A separate set of accounts for one share seems too much like overkill.
> 
> Thanks in advance for any help or advice offered.
> 
> 
> Eric Coates
> 
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-- 
Maf. King
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