IFRS 9 customer testimonial
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OneSumX IFRS 9 features
Our IFRS 9 functionality is part of our comprehensive and modular OneSumX IFRS solution. It combines lifecycle information on each individual financial instrument with a comprehensive set of IFRS 9 calculators. The resulting numbers are recorded in a transparent, traceable, and auditable contract level IFRS subledger.
The solution supports regulatory disclosures from local supervisors across the globe and offers powerful reporting tools. These features are supported by a data management framework that can capture and store relevant contractual information, manage events and transactions, store IFRS calculations, generate accounting, and process up to the delivery of the IFRS disclosures.
Classification and measurement
- Pre-defined IFRS 9 classification business rules and a complete set of IFRS 9 compliant accounting schemes
- A 'cash-flow' test to assess eligibility to measurement at amortized cost
- An amortized cost-calculation engine with built-in support for debt restructuring, below-market loans and a wide variety of product lifetime events
- Fair value measurement techniques
- Support for storing and reporting on the Fair Value Hierarchies (IFRS 13)
- A complete set of IFRS 9 compliant accounting schemes
Impairment and expected credit loss (ECL) model
- Accounting schemes that include the logic for the expected credit losses over the full instrument's lifecycle
- Develop and build an ECL model that needs to be run in multiple scenarios
- Support for calculation and subsequent accounting processing of credit-adjusted effective interest rate (EIR), amortized cost and effective interest for purchased or originated credit-impaired instruments
- Apply expected credit loss calculators which can work with expert judgment or macroeconomic scenarios
- Track movements between any of the three stages on a portfolio and individual level
- Effectively manage disclosures under IFRS 7 and IFRS 9
Hedge accounting with IAS 39 optionThe hedge accounting element of the regulation can be addressed using either IAS 39 or IFRS 9 principles, and our flexible solution enables both methods. If the IAS 39 option is selected, the following features will be available for your team to leverage:
- Hedge designation and documentation
- Hedged risk calculations (both delta and full)
- Hedge effectiveness calculation
- Accounting adjustment calculators
- Supports IFRS regulatory disclosures for local supervisors across the globe, including IFRS reporting templates such as Europe’s FINREP, asset encumbrance, COREP, and your financial statements under IFRS.
- Combines the lifecycle information on each individual financial instrument with a transparent and auditable contract level IFRS subledger and powerful reporting tools
- Full compliance with IFRS 9 and other IFRS disclosures
- Full transparency and traceability that fully satisfies internal and external audit needs.