개성상인 복식부기 장부 화폐환산회계

This study examined currency translation accounting around the turn of the 20th century in the double-entry bookkeeping record of the Park Youngjin family, a Gaeseong merchant, which is the registered cultural heritage No. 587 of Korea. The record was documented in nyang(냥兩) of the Sangpyoung Tongbo(hereinafter Tongbo) which was the legal currency of the Joseon dynasty althouh there were transactions by Dangojeon, Joseon silber coin, and Japanese silber coin and paper money. We identified seventy nine journal entries which contained currencies other than the Tongbo. The Dangojeon was translated into the Tongbo at the far lower value than its face. Joseon silver coins were translated into Tongbo by adding payment or receipt of premium, so-called gagye(가계 加計). However, Joseon silver coins were not translated when they were used in internal transactions. Although several ouliers were found, Japanese silver coins and paper money were translated into the Tongbo at the level of twenty five nyang and fifty nyang per Japanese yen, recpectively. These rates of translation partially reflected market prices of silver and gold. The record recognized currency translation profit or loss at the time transaction occurred but not recognized currency valuation profit or loss at the time of financial year end. This accounting treatment indicates that the record consistently computed accounting income based on historical value concept. This study presented the first evidence that a Gaeseong merchant was conducting currency translation accounting around the 20th century. It is an additional empirical evidence to trust the accounting books of Gaeseong merchants.