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Re: Playing Accountant

From: ^chewie
Subject: Re: Playing Accountant
Date: Mon, 19 Mar 2001 12:53:06 -0600
User-agent: Mutt/1.2.5i

Reinhard Müller wrote:
> "Derek A. Neighbors" wrote:
> > Here is the question.  We treat a dollar (or monetary
> > unit) as a 'standard of measure'.  However this seems
> > like a bad thing to do.

The important thing to track is the unit of measurement of
the transaction itself with respect to date.  Generating
reports or conversions with respect to that date are
secondary.  Additions to your conversions table should be
tracked by date so that the accountant can build and
maintain the table to their liking.  I'm not an accountant
either, but I'd be surprised if there wasn't an Internet
resource that you could query for present or past conversion
rates on-demand.  Conventions of data persistence would
suggest that you could keep copies of these rates locally as
would apply per quarterly financial reports.

IOW, just datestamp everything and don't remove records from
the conversions tables. ;-)


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