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54 lines
2.4 KiB
54 lines
2.4 KiB
<ARTICLE ID="XACC-COMMODITY">
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<ARTHEADER>
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<TITLE>Creating a "commodity"</TITLE>
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</ARTHEADER>
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<sect1>
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<title></title>
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<PARA>Gnucash represents national currencies, stocks, mutual funds,
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and all other tradable commodities using a unified framework. In
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this dialog, you will specify the properties of a new commodity.
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</PARA>
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<para>The <emphasis>full name</emphasis> of the commodity is a recognizable
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name such as "US Dollars" or "IBM Common Stock". </para>
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<para>The <emphasis>symbol or abbreviation</emphasis> for the commodity is the
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ticker symbol (for stocks), ISO currency symbol (for national
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currencies), or other unique abbreviation for the commodity. If the
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commodity is traded on any public exchange, it is important to use the
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same identifier used on that exchange. </para>
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<para>The <emphasis>type</emphasis> of a commodity is the grouping or
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namespace in which it exists. For example, national currencies are of
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the ISO4217 type. ISO-4217 is an international standard which defines
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unique three-letter symbols for each currency. Other types include
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AMEX, NYSE, NASDAQ, and EUREX for stocks traded on those exchanges,
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and FUND for mutual funds. If your commodity is not of one of these
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types, you can create a new type by typing it in the box.</para>
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<para>The commodity's <emphasis>code</emphasis> is any numeric or alphanumeric
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code that is used to identify the commodity. The CUSIP code, for
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example, is a unique identifying numeric string that is associated
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with every stock, bond, mutual fund, and most kinds of tradable
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options, futures, and commodities. This code is not required.</para>
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<para>The <emphasis>fraction traded</emphasis> is the smallest tradable unit
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of the commodity, expressed as a fraction of a single nominal unit.
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For US Dollars, for example, the fraction traded is "1/100", because
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bank balances and currency are counted to 1/100 of a dollar. This
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value is used as a default accounting resolution for accounts
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denominated in the security, but can be overridden if a particular
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account's books need to be kept to a different resolution. For
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example, stock ownership may be reckoned to 1/1000 of a share by some
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brokerage houses, though actual transactions in the stock are in
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integer numbers of shares (the fractional share ownership is an "on
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paper" accounting trick of the brokerage house).</para>
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</sect1>
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</ARTICLE>
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<!-- Local variables: -->
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<!-- sgml-parent-document: "gnucash.sgml" -->
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