Very little will be changed on mainframe systems since hard currency transactions are very rare. Electronic transactions can continue using one-cent. They will only be changed if there is a desire.
Jon Perryman. >________________________________ > From: Paul Gilmartin <[email protected]> > > >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. >
