Year 2000 Isn't a Problem, Is It?

Morrow, Edwin P.
June 1998
Journal of Financial Planning;Jun98, Vol. 11 Issue 3, p101
Academic Journal
This article examines the impact of the year 2000 issue (Y2K) on businesses, the government and financial planners which are very dependent on computers and supporting systems. The U.S. Treasury Department has commenced a mammoth overhaul of the computer software supporting the U.S. Internal Revenue Service (IRS). It was to have been one-third complete by the end of 1997. However, as of June 1998, the IRS now reports it has only started the analysis and has measured the scope of the change required to be far in excess of its personal resources. There are two separate issues in Y2K compliance, software and hardware. Nearly all readers are using 486 or Pentium chip microcomputers that they think have processor and binary operating system (BIOS) chips that properly address Y2K. A serious problem was designed into the microcomputer in 1984 and remains a problem today, most computer systems will not gracefully enter the next decade, not long from now. The system date probably will be incorrect on January 1, 2000 or later, because of a hardware design flaw. Similarly, many software applications will misbehave as the year 2000 is approached and passed, too, even if the system date is correct. One can test his or her computers by advancing the date to 2000. To do this, press the appropriate key during the boot-up process, enter the computer memory operating system settings and advance the year.


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