[GNC] Bad account setup in Guide §12; was: Should i create "Equity Account" for each currency I had ?
Frank H. Ellenberger
frank.h.ellenberger at gmail.com
Fri Apr 17 05:16:04 EDT 2020
David,
Am 17.04.20 um 04:58 schrieb David Cousens:
> Frank
>
> Ignore my comment about whether trading gains and losses should appear in
> the balance sheet or income statement. I've done a bit of research and both
> under the FASB in the US and the IFRS and the AAS in Australia as far as I
> can tell such gains and losses are recognized and reported under Equity as
> Other Comprehensive Income so the current balance sheet reports them
> appropriately.
>
> David
>
that might be right for common law countries, following the fair value
principle (protecting shareholders). But e.g. german HGB follows the
lowest value principle (protecting creditors). So on current assets we
have to enter depreciations while closing the book, but impairments are
not allowed. So I am happy, the trading gains are currently not part of
the balance.
Frank
More information about the gnucash-user
mailing list