On 2013-08-09 10:26, Paul Gilmartin wrote:
Friday. I understand that Canada is abolishing its one-cent
coin. So will cash register transactions be rounded to
multiples of $0.05? How about electronic transfers, account
balances and checks? Will Canada's version of GAAP be
adjusted accordingly? And most relevant here, can DFP
handle rounding to multiples of 0.05? One could always
multiply by 2; round to a multiple of 0.10; divide by
2. Enormous reprogramming task. I suspect that accounting
will continue to use a granularity of $0.01.
-- gil
If you go to Starbucks and your coffee is $2.57 after tax, and you pay
$3.00 cash, you will receive $0.45 change. If you pay by debit/credit
card, you will pay $2.57.
The one cent unit of value has not been discontinued, just the piece of
copper that was worth well over one cent.
I can't speak to how the rounding for cash transactions is reflected in
accounting. I suppose you could check with the Canadian Institute of
Chartered Accountants. http://www.cica.ca/index.aspx
This issue transcends Assembler and, for that matter, System Z. Anyone
doing accounting for cash transactions on any platform using any
language will need to confront it.
--
Regards, Gord Tomlin
Action Software International
(a division of Mazda Computer Corporation)
Tel: (905) 470-7113, Fax: (905) 470-6507
