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Year 2000 (Y2K)
What is the Year
2000 Challenge (Y2K) and how did it happen?
The year
2000 challenge spans the entire information technology industry.
It arises from the nearly universal practice over the years of
using two digits rather than four to designate the calendar year
(e.g., DD/MM/YY). Computer programs used a two-digit notation
to save valuable storage space and data entry time (just as people
commonly refer to "the class of '96"). Although this practice
was common, it can lead to incorrect results whenever computer
software performs arithmetic operations, comparisons or data field
sorting involving years later than 1999.
What's the
problem in a nutshell? Currently, programs which calculate interest
for a time period, for instance 1995 to 2001, will not indicate
6 years of interest, but negative 94 years. People born in 1959
will not be 41 in 2000, they'll be negative 59. If you started
working somewhere in 1981, you would loose 19 years seniority.
You would not be vested in the pension plan. If you have security
codes or passwords at work which became valid in 1999, they would
not be valid in 2000 because 00 came before 99 when the code was
assigned to you.
Who does
the year 2000 affect? It is a significant challenge across the
information industry and for any business, agency, institution
or person using computers. Any system or program, including desktop
software, could be affected if two digits are used to present
the year. In addition, data sharing across networks or between
users creates the possibility of "contamination" by two-digit
data. Banks, the IRS, Brokerage Houses, and the Social Security
Agency, to list a few, may not be ready. Who will feel the effect?
YOU!
Can't a user
just switch from using two digits to four? The process for making
the change is fairly straightforward. Users must first determine
whether the data that represent "year" is stored as two digits
and then find all the applications that use that data. If only
two digits are used, the file format must be changed to four digits.
Every program that stores or references that data must also be
changed. Finding all the programs that reference that data and
then coordinating the change is time consuming. The number of
date representations in the programs can be quite large.
Is this a
hardware or system software problem or both? It is primarily a
software problem, but both hardware and software, including commercial
off-the-shelf products are involved. In some instances, hardware
can not be made Y2k compliant and must be replaced.
Will the
IRS be ready? Yes. The IRS plans to have all its Information Technology
systems Year 2000 compliant by January 31, 1999. You probably
don't care or wish they would just loose all your records. Right?
That is, unless you are due a refund.
C.
David Pitzer, CPA, PC
118
Two Mile Pike
Goodlettsville, TN 37072
(615) 851-2727
Fax: (615) 851-8711
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