Highlights of the blueprint:
- Integrated accounting rules engine (ARE)
- Multi GAAP, Multi Entity, Multi Currency
- Parallel accounting, adjustment accounting supported
- Optional full size General Ledger
- Export of D/C-entries or accounting events to any third party ARE
- IFRS 9 ready: Template with IFRS 9 compliant accounting logic and chart of account. Based on the experience gained in more than 10 years in financial accounting for IAS 39 and in current IFRS 9 projects with different auditors FERNBACH developed an accounting logic which covers all business events for the entire portfolio of the entity. The accounting logic and a standard chart of accounts which can be individualised through a simple mapping process during the project are part of each delivery.
- Templates for various GAAPs with pre-defined accounting rules and chart of accounts
The major focus of the blueprint Financial Accounting is providing balance sheet and income statement.
- Multi GAAP
- Multi Currency
- Multi Company (multi tenant)
Figure: Blueprint Financial Accounting
An Accounting Rules Engine is placed at the centre of the blueprint. It generates debit/credit entries for delivered accounting transactions.
The Accounting Rules Engine transforms accounting transactions into debit/credit-entries. For this transformation, a configurable rules set that includes accounting logic and account assignment will be considered.