Financial software: some hard choices

Software companies are creating financial software packages with the single European market of 1992 in mind. Software companies are selling a wide variety of ledger systems that have multinational accounting features. An accounting package for the single European market should include multiple language support, multiple currency features, international fiscal regulations support, and flexible reporting features. Firms will need software with multiple language support only if they intend to implement a common accounting system in their foreign subsidiaries. Standardization will lower costs because the accounting software can be bought in bulk, and accountants can move easily among offices without having to get used to a new system.