The year 2000 problem

To save once valuable space in the early days of computers, programmers used only 2 digits to indicate the year. As a result, unless corrective action is taken, most systems that use dates in any way will be obsolete in the year 2000, and, in many cases, will be subject to gross and unpredictable er...

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Bibliographic Details
Published inThe CPA journal (1975) Vol. 67; no. 6; p. 16
Main Authors McKell, Lynn J, Romney, Marshall
Format Journal Article
LanguageEnglish
Published New York New York State Society of Certified Public Accountants 01.06.1997
Subjects
Computer viruses
Computers
Corporate planning
Cost control
CPAs
Economic impact
Evaluation
Financial statements
Information systems
Personal computers
Software
Year 2000
Year 2000 transition (Computers)
United States > US
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Summary:To save once valuable space in the early days of computers, programmers used only 2 digits to indicate the year. As a result, unless corrective action is taken, most systems that use dates in any way will be obsolete in the year 2000, and, in many cases, will be subject to gross and unpredictable errors. Management must become aware of the problem, identify systems that need to be changed, predict the consequences of the errors, set timetables, and allocate resources. The accountant auditor, while not directly involved, cannot sit idly on the sidelines. Estimates of the cost for a solution run as high as $40 million per company.
ISSN:0732-8435