Financial Accounting

Our multi-GAAP capable financial accounting feature set (n accounting purposes, n legislations) includes everything required for the preparation of financial reports and notes. This includes calculations that are relevant for the initial and subsequent valuation and for accounting of financial accounting operations that cover the entire life cycle of financial and non-financial sectors. The embedded accounting rules engine generates debit and credit postings for all postable events. Balance sheets, profit and loss accounts, and notes are supported for period-end closing. As an alternative or as a supplement to the integrated general ledger, transactions can be made available to a general ledger maintained in an SAP, Oracle or core banking system.

Financial Accounting
IFRS Project, Software and Implementation

IFRS 9

FlexFinance provides a comprehensive IFRS solution which includes valuation of financial instruments, calculation of impairment and hedge management; consolidation with multi-currency capability. The IFRS accounting logic and the standard chart of accounts are part of each delivery.

Collective Impairment Stage 1 and Stage 2

The ECL Workbench is a modular solution that calculates probability-weighted Expected Credit Losses (pwECL) in line with IFRS 9 requirements. This includes the calculation of 12-month pwECL with PD, LGD und EAD as well as lifetime pwECL for assets assigned to stage 1 or 2.

Collective Impairment Stage 1 and Stage 2
Impairment Stage 3

Impairment Stage 3

For financial assets with objective evidence of impairment, the Customer Impairment Workbench ensures that specific provision (SP) and lump-sum specific provision (LSSP) are dealt with in line with IFRS 9 requirements.

The Customer Impairment Workbench is a modular solution that covers all valuation and accounting requests linked to stage 3 impairment.