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The Serious Year 2000 Problem - Online Term Paper

The Serious Year 2000 Problem

A serious computer problem, variously known as the “Year 2000,” “Y2K,” “Century Date Change,” or “Millennium Bug” problem, faces many companies. This report is intended to provide a summary discussion of some of the major legal issues that may arise due to the Year 2000 problem.
The Year 2000 problem arises because most business application software programs written over the past twenty years use only two digits to specify the year, rather than four. Therefore, on January 1, 2000, unless the software is corrected, most companies with time-sensitive software programs will recognize the year as "00" and may assume that the year is “1900”. Programmers used two digits in the past instead of ...

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for the 1999-2000 period running backwards rather than forwards. Insurance company computers might report a policy running through the year 2001 as having instead expired in 1901.
A bank computer calculating the interest for a financial instrument for the six year period of 1995 through the year 2000 might instead calculate the interest for the period of 1900 through 1995, for a ninety-six year period instead of a six year period.
Given the multitude of computer programming languages in use and the variety of data uses for date fields, computer experts have advised that no single “silver bullet” exists to correct the Year 2000 problem. In fact, over 40 vendors currently market in excess of 125 software tools to correct the Year 2000 problem.
Although it appears that any company can become Year 2000 compliant if it starts corrective action soon enough and devotes sufficient resources to the effort. Year 2000 experts recommend that corrective action begin as soon as possible and ...

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The Serious Year 2000 Problem. (2006, October 17). Retrieved January 22, 2025, from http://www.essayworld.com/essays/The-Serious-Year-2000-Problem/54099

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PAPER DETAILS

Added: 10/17/2006 05:17:09 PM
Category: Computers
Type: Free Paper
Words: 423
Pages: 2

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