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Accounting Solutions

Financial Studio provides a structured but flexible accounting environment with tried-and-tested tools that are fully customisable to your needs.

It works alongside - and adds value to – existing banking systems and third party tools and allows for the separation of accounting practices from core banking systems. This not only facilitates more reliable reporting, analysis, and overall financial management, but also allows accounting entries to be generated at a frequency that suits both your internal policy and external regulations.

Accounting generator

Financial Studio provides easy-to-use wizards that guide users quickly and securely through the process of defining and administering business, financial, and accounting rules, without the need for any programming experience or support from IT. These wizards

  • help identify the business accounting events required under particular GAAP conditions,
  • link to pre-defined or customer specific accounting schemes used to generate the accounting entries,
  • are particularly useful when dealing with the sweeping changes necessitated by the introduction of IAS/IFRS standards,
  • cope with the additional demands of compliance reporting, hedge monitoring, and fair value accounting; most existing systems cannot.

Financial Studio provides integrated rule-based functionality for parallel accounting that supports both IFRS and local regulations around the globe. It maintains the detailed hedging relationships between the hedging instruments and the respective underlying items. It also provides pre-defined calculators and accounting routines for appropriate valuation of instruments. The accounting templates in Financial Studio have been validated and approved by Ernst & Young.

Visit also FinArch's dedicated IFRS website: www.ifrsforbanks.com. Request our IFRS brochure. Read here why our customers selected Financial Studio IFRS. And, request here the slides shown during the webinar "IFRS for Financial Institutions - FinArch seven-steps to compliance using Microsoft capabilities".

Combining general ledgers, sub-ledgers and trading ledgers

Financial Studio supports both a thin and a fat ledger approach in a multi-currency, multi-entity, and multi-GAAP environment. The Financial Studio ledger

  • ties into any existing general ledger that may be in place,
  • lets you perform in-depth analysis on accounts, products, customers, business levels, and projects, with results based on a summarised account / cost centre level,
  • supports more accurate and efficient product control as it accounts at detailed and consolidated position level,
  • is very often the foundation for mastering complex trading environments,
  • facilitates reconciliation to be more easily automated with minimal manual intervention as detailed or transactional data can be accounted for and analysed on a multiple-dimensional basis.

Learn how EastWest Bank benefits from Financial Studio's ledger.

Consolidation

Financial Studio provides the tools to automatically trace and eliminate intercompany transactions in a structured and reliable way. It allows for credit and debit balances in multiple accounts across different entities to be automatically swept, achieving full set-off of all related balances.

Want to learn more about FinArch's accounting solutions ? Contact us.