July report is posted
The July report is posted. http://portal.slcds.info/index.php/cds- ... r/reports/
This one is a bit special, although you would be hard-pressed to find the evidence in the numbers. It's been a long time since we bought a sim, so I'm sure that no one remembers the financial reports when that happens (that's why I thought I'd explain a bit now).
If you look at the Income-Expense report, you'll not see the tiniest evidence of Friedsee. There was no tier on it in July, and... now this is important... buying a sim is NOT an expense... rather it's an INVESTMENT. It's like putting money in the bank... we still have it and can turn it back to money whenever we want. So it doesn't appear in Expenses... in fact we made a small profit in July.
Where Freidsee DOES appear is on the Balance Sheet (although not with the name next to it). In the Fixed Assets section (things we "own"), notice the line that says Total Land Asset. The amount on this line is L$76,880 (divided by the 248 exchange rate is exactly US$310... what we paid for the sim). It's been a VERY long time since that line was anything but 0. Now it shows what we just paid for Freidsee.
Why that line is usually 0 is a complicated question. It has to do with the fact that while we buy sims, we also sell the land on those sims. So over time, those land sales come in and lower our investment because we're converting the investment back to cash. We've actually sold our investment to our residents many times over, but our land value can't be less than 0, so the land sales show in other ways (like as normal income). With Friedsee, now, because of our new policy of selling land for only L$1, that value is going to be there for a very long time... we sold only L$15 in land during July.
Anyway... yeah... a bit mind-numbing. But that's the way that bookkeepers keep track of things, and in RL that's what I do. But don't ask me to tell the story about when I explained to my accountant that I was buying and selling land in virtual reality... true panic set in! It took me a lot of effort to calm them down and divert them from the concept that I was surely breaking major US tax laws by not reporting purchase and sale of real estate.
Sudane.....................
