Rounding Standards - Financial Calculations

Question

I am curious about the existence of any \"rounding\" standards\" when it comes to the calculation of financial data. My initial thoughts are to perform rounding only when the da

Answer 1

Ive not seen the existence of "the one standard to rule them all" - there are any number of rounding rules (as you have referenced), and they seem to come into play based on industry/customer/and currency code (http://en.wikipedia.org/wiki/ISO_4217) - since not everyone uses 2 places after the decimal, the problem becomes even more complicated. At the end of the day, your customer needs to specify the rules they want to implement...