Abstract
As the FASB and the Derivatives Implementation Group have revised the implementation requirements for FAS 133, they have forced many vendors to spend enormous amounts of research and development on a moving target. Corporations that have rushed to build spreadsheet solutions are feeling the same “keeping up” burden. But it is only a matter of time before some unlucky company has a P&L or audit mishap due to spreadsheet FAS 133 workaround practices. This is why, as things stand now, vendors see solutions in terms of “the basics,” “the extras,” and “low-cost delivery.”
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