Make multiple accounting frameworks make sense
Comply with all relevant accounting frameworksGlobalisation and the introduction of international accounting standards pose challenges for a great many financial institutions. To comply with national and international legislation such as US-GAAP or IFRS, the same transaction or holding must be treated in different ways with regard to profit and loss calculations and subsequent bookings.
SimCorp Dimension incorporates multiple accounting frameworks to facilitate the handling of this otherwise difficult task. Entered once, transactions are automatically processed according to the various accounting principles. |
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It’s a feature that reduces time spent both on day-to-day administration and end-of-period adjustments and serves as a built-in safeguard against future change.
Fast and uniform accountingOverall, the integrated handling of all instruments in a straight-through processing environment provides fast and uniform accounting with a full audit trail. There are no bottlenecks at the end of the day and no problems tracing bookings back to the original transaction. In other words: no headaches. |
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