It's been rumoured that Herbert Thoma said:
>
> [EMAIL PROTECTED] wrote:
> > prices are recorded in a transaction with a single, dangling entry.
> > This is allowed since prices 'have no value'.
>
> Yes and No. If you change the price, you change the value of your assets
> and you have no other account to reflect this.
The discussion is about how the engine redcords transactions internally.
This is separate from how that data is displayed in a register, or in a
report.
The 'value' of a stock at time 't' is the total number of shares owned
at time t (which does *not* depend on lifo/fifo accounting practices,
its an absolute quantity), times the most recent price before time t.
The engine records a price at time t as a 'purchase of zero shares'.
The GUI computes the running total times recent price and displays that.
> You surely unbalance the books if you sell stock for another price
> than you bought it and don't make a transaction to something like
> "capital gains". Unfortunately GnuCash does not do this automatically (yet).
Only because we do not run gnucash with 'force double entry' enabled by
default. Otherwise, it would always automatically balance.
We don't enable it because of a fear that for beginers, it might be
too much. We'll set this up in a preferences menu real soon now.
--linas
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