Fulfil US GAAP and international accounting standards in parallel

In addition to the International Financial Reporting Standards (IFRS), US GAAP is an international accounting standard with broad significance and recognition. FlexFinance helps banks to overcome the challenge of fulfilling national and international accounting standards in parallel while minimising the cost and effort involved.

Reliable and audit-compliant adherence to the US GAAP requirements

FlexFinance processes the requirements specific to US GAAP for the valuation of financial instruments and also applies US GAAP specific factors which are then used to calculate metrics. The multi-GAAP capability of FlexFinance ensures the calculation of a GAAP-specific effective interest rate as well as the US GAAP-specific handling of income suspension rules and impairment. The complex requirements for posting of income suspension rules and impairment demonstrates the flexibility of the accounting logic provided in US GAAP-specific setup versions.

• Future proofing and flexibility through Multi-GAAP capability (national and international accounting standards).
• The multi-GAAP approach allows accounting entries to be posted centrally for all financial instruments.
• Auditability / revision path:Easy data access for multiple analyses via online account statements, T-account views for balance sheet and income statement.