Generally Accepted Accounting Practice in the UK.
-- Shmuel (Seymour J.) Metz http://mason.gmu.edu/~smetz3 ________________________________________ From: IBM Mainframe Discussion List [[email protected]] on behalf of Bob Bridges [[email protected]] Sent: Friday, January 28, 2022 10:55 AM To: [email protected] Subject: Re: Decimal Floating Point revisited GAAP, for the uninitiate, is Generally Accepted Accounting Principles, which sounds pretty subjective but they're fairly well understood and documented although they change slightly from year to year. But since I don't know what DFP is I can't comment further. --- Bob Bridges, [email protected], cell 336 382-7313 ...who finished his degree in Accounting but went on into programming after college and never looked back /* A lie goes half way round the world before the truth can get its pants on. -- Winston Churchill */ -----Original Message----- From: IBM Mainframe Discussion List <[email protected]> On Behalf Of Paul Gilmartin Sent: Thursday, January 27, 2022 20:24 Why not BFP or HFP? Is it a requirement for GAAP compliance of intermediate results? I have long suspected that GAAP was the most plausible (but not rational, IMO) motivation for DFP I believe that enforcing GAAP on intermediate results gives a less accurate ultimate result -- it's just identical to what quill pen and parchment would have given. --- On Thu, 27 Jan 2022 18:32:03 -0500, Tony Harminc wrote: >Still, there are nine (9) significant digits to those rates - beats >Cowlishaw's 5-digit tax rates on a phone call.Try that in binary FP. >For that matter, try calculating the total bill across the city using >traditional packed decimal. ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [email protected] with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [email protected] with the message: INFO IBM-MAIN
