A Compliant Solution for the Euro. Your Business & the Euro. Presentation Format. The Euro EM4 EM4 Processes. The Euro. Requirements Time-scales. The Euro. What is it? A New Currency When will it exist? 1st January, 1999 Why? Major move towards a single market. Impact.
Your Business & the Euro
Who Are We ?Founded: June 1996 Manus Bray and Bill Chisholm20+ years of AS/400 ConsultancyExtensive Experience of SystemsImplementation and Development
Company Mission :
To Become a Market Leader in the Development of First Class End-User Products to Support Existing and Future AS/400 Environments
Between 1st January 1999 - 31st December 2001, businesses with multiple companies within EU member states will need to change their base and/or global currency to the Euro.
Existing transactions will differ from one company to another as they are relative to the time at which the transactions were processed.
All in-line data will be converted to the equivalent Euro amount
=> historical data such as Sales History and Order History will remain relative
=> their graphical representations will remain constant.
This ensures that investors and shareholders do not notice a rise/fall in share value or company performance over that period of time.
The Finance department must be able to ensure that the company's turnover is not affected, although the annual turnover and profit is now illustrated in Euros.
It is ultimately the IT department's responsibility to ensure that
The application structure will determine the level of IT involvement required.
For complex applications where calculated values and field relationships need to be defined, there will be a requirement for more IT involvement than in an application where all financial fields are independent.
After the conversion has completed, the maintenance of the application
is retained by the IT department.