Dear Jan Wieck ,
Yes I agree with you Jan , most of the time we round the amount and this is done by truncating greater than 3 decimal digits and rounding the 3 digit to 2 in other words :
select trunc(1000.236897,3);
then
selecr round(1000.236,2);
This takes care of the rounding factor in money as per Indian standards ok, how will you verify it simple just use log and you will get the correct output.
People are often under the impression that effective APR's and all that stuff fall into the same category as your bank or credit card account balance. But that is not true.
What are you suggesting thattruncing and rounding is not good in financial terms
If that is what Indian accounting rules require, that is what you do.
Jan
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