IFRS

Handle international accounting standards with bravery

The components of zeb//control accounting and the module ifrs allow you to meet the requirements of the International Financial Reporting Standards (IFRS). To this effect, the modular standard software provides you with intuitive user interfaces for categorisation, impairment, hedge accounting and the management of posting approaches. Specifically, zeb//control accounting supports you with the following functionalities:

Categorisation

The starting point of IAS 39 is the clear assignment of financial assets and liabilities to categories. Apart from offering technical solutions, zeb/ has also gathered ample project expertise in the functional design of IFRS categorisation over many years. Only a few banking systems permit the direct input of the IFRS category so that, as a rule, it has to be derived from the existing characteristics of the financial instruments. Via the graphic user interface of the zeb/categoriser, this task can be performed in line with IAS while taking account of customer-specific requirements and ensuring audit acceptability. The software allows you to access any data fields and characteristics (e.g. products, feeder systems, and custody account numbers) for defining categorisation rules.

Impairment

The impairment component of zeb//control accounting supports all the steps of the impairment process from data import to posting. With this impairment solution, you can compute itemised, general and portfolio value adjustments as well as the unwinding effect in accordance with IFRS. The browser interface makes it simple to navigate from the overview of all impairment cases and individual accounts to the expected cash flow profile. The provisioning calculated by the software can be adopted or adjusted on the basis of diverging expectations with regard to cash flows and liquidation hedging instruments. The integrated table of itemised value adjustments shows how the allowances may change over time.

Valuation

zeb//control accounting covers both valuations at amortised cost and full fair value. Its functionalities include the representation of all product types both in transactions for customers and for own accounts as well as the consideration of fictions, model assumptions and impaired performance.

Hedge accounting

The IAS.Hedge-Engine covers all aspects of hedge accounting for interest rate risks pursuant to IAS 39. The module supports cash-flow and fair value hedge accounting as well as the fair value option with bank-wide controlling. The controlling and treasury management processes are fully supported from the creation of hedging relationships to the performance of efficiency tests and from determining posting consequences to subsequent plausibility checks. The functionalities are rounded off by comprehensive simulation options, the audit-proof documentation of the hedge process and a competency system with logging function. The IAS.Hedge-Engine can be set up as an add-on to existing IFRS systems and posting approaches requiring the integration of a minimum number of components and can import portfolio and market data from existing data sources.

Posting

The posting engine is an optional software module that operates as a link between the other modules of zeb//control accounting and the core posting system of the bank. It transforms the transactions supplied by the zeb//accounting modules into posting entries adjusted to the specific account classification and the bank's individual posting approach and transfers them to the core posting system via an export interface. The posting engine has an object-oriented accounting system in which accounts with asset and revenue information are maintained for each financial object. By means of posting rules for which parameters can be defined, the object-oriented accounting system generates IFRS-compliant postings on the basis of the posting amounts supplied by zeb//control accounting.

Download zeb/ifrs booklet

Do you need further information or are you interested in using zeb//control accounting in your bank? We would be pleased to arrange a meeting at your office to present all the functionalities of zeb//control accounting and discuss its application in your bank.