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Re: Playing Accountant

From: ^chewie
Subject: Re: Playing Accountant
Date: Mon, 19 Mar 2001 13:48:12 -0600
User-agent: Mutt/1.2.5i

> The issue Derek raised wasn't about fluctuating exchange
> rates AFAICT. It was more about the changes in the value
> of a single currency over time. His example for instance
> argues that the value of 1 dollar today is different from
> the value of 1 dollar in 60 years time. Both are still
> called 1 dollar though. I believe this is what is termed
> inflation but I stand to be corrected. Of course inflation
> can be positive as well as negative (devaluation).

I think it's fairly reasonable to assume that accountants
would be most interested with the value of conversion at
times when financial reports are due and/or declared
"official", such as quarterly and annual reports.
Regardless, this is a time period issue, and maintaining a
record of the convertion charts is a Good Idea(tm).  Reports
could/(should) provide an option to report monetary units of
measurement relative to the conversion factor applicable for
the time period on the report.  Likewise, the report
could/(should) state the effective conversion factor(s) used
for which time period(s).

Disclaimer: ^chewie != accountant. ;-)


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