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
