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
