goldsilver
Registered User
- Messages
- 2
Hi
Our company has some cash reserves on a separate bank account that is not to be used for anything now. The cash is there just in case and it's only to be used when company gets into temporary troubles or when the cash flow is low etc. It's about 20K
We figured out that it would be much better and probably safer to keep that sort of reserves in gold and silver instead of keeping it in the bank (upcoming bank crisis, low quality of regulations, greedy EU, euro is a fiat currency and probably a hundred other reasons why gold is better than virtual cash as a reserve commodity)
So lets say we buy 10k worth of gold. How do we account it? Is gold a fixed asset like a car or a property?
Our company has some cash reserves on a separate bank account that is not to be used for anything now. The cash is there just in case and it's only to be used when company gets into temporary troubles or when the cash flow is low etc. It's about 20K
We figured out that it would be much better and probably safer to keep that sort of reserves in gold and silver instead of keeping it in the bank (upcoming bank crisis, low quality of regulations, greedy EU, euro is a fiat currency and probably a hundred other reasons why gold is better than virtual cash as a reserve commodity)
So lets say we buy 10k worth of gold. How do we account it? Is gold a fixed asset like a car or a property?