Accounting

In the business division Accounting we focus on the implementation of international and regional financial reporting standards. This also includes the related regulatory reporting. With the focus on IFRS9 and IFRS17 we combine professional consulting with excellent technical realization.

Our solutions and offers:

  • SAP Accounting for Financial Instruments (AFI and smartAFI) for IFRS 9
  • SAP Insurance Analyzer 2.0 for the realization of the IFRS 17 regulations
  • Specialist consulting IFRS 9 and IFRS 17
  • ADWEKO impairment solution for the mapping of the risk prevention at banks and insurance companies
  • Data modelling and overall architecture in the SAP BA AFI environment
  • Support of tool choosing processes e.g. for IFRS 9 Impairment
  • Implementation of the ADWEKO modification tools or more specifically the ADWEKO impairment solution to determine the IFRS9 risk prevention
  • Performance determination through SAP FS-PER

Implementation of IFRS 9, IFRS 17 and FinRep

We help you with the implementation of the regulatory requirements through new requirements in the accounting environment. Our focus currently is on the innovations through IFRS9, IFRS17 and FinRep at banks and insurance companies.

Support with IFRS 9, IFRS 17 and FinRep implementation projects

  • Analysis of all requirements through the new standards considering your overall architecture.
  • Specialist and technical customizing in the individual application, e.g. in SAP Bank or Insurance Analyzer.
  • Implementation of the standards by experienced consultants and ADWEKO’s expertise already proven at numerous projects.
  • Professional consulting by ADWEKO from the implementation and the Go-Live to the project management and testing.

Implementation of IFRS 17

The implementation of IFRS17 confronts insurance companies with huge challenges due to extensive changes to the previous accounting and the disclosure of insurance contracts. This shall enable an international comparability, which requires considerable adjustments to the IT environment.

The extensive requirements of IFRS 17 for the IT environments and the numerous changes in the reporting of insurance products require a central IT platform, which is equipped with a custom-fit data model and a booking logic to prepare the balance sheet and the profit and loss account. In our view, the SAP Insurance Analyzer fully meets these requirements.

We define interfaces for the different delivery systems to realize an individual customized data model, which displays its insurance products. According to IFRS 17 we create a booking logic to present the three approaches (Building Block Approach, Premium Allocation Approach und Valuable Fee Approach) of the new reporting.

Your benefits:

  • Broad experience in the SAP AFI module as basis of the Accounting for Insurance Contracts as well as in the technical implementation of international reporting standards.
  • Extensive knowledge of insurance products and its technical display.
  • Implementation of the SAP Insurance Analyzer by experienced Consultants and ADWEKO’s expertise already proven at numerous projects.

SAP Accounting for Financial Instruments (AFI) and smartAFI

With the SAP application AFI and smartAFI within the Bank Analyzer follows a preconfigured implementation of an accounting solution, which is possible for several accounting systems at the same time and is based on a complete subledger.

  • Standardized and secure accounting processes in accordance with the regulations through a certified accounting application.
  • Implementation of the solution through experienced consultants and ADWEKO’s expertise already proven at numerous projects.
  • Professional and lean architecture by using a database for several analyzers and accounting systems.
  • Professional consulting by ADWEKO from the implementation and the Go-Live to the project management and testing.

ADWEKO impairment solution

With the ADWEKO impairment solution we enable you the implementation of the necessary risk prevention requirements according to IFRS 9 aspects in the insurance as well as the banking environment.

  • ADWEKO impairment solution can be implemented within half a year with very limited resources.
  • Especially suitable for insurance companies and providers of specialized financing with limited product portfolio.
  • Solution is based on the already existing SAP applications SAP-CML und CFM and thus builds on a functioning platform.
  • Standard solution can always be expanded.
  • Can be maintained by ADWEKO, but also by the customers themselves.

FS Performance Management (FS-PER)

FS-PER, based on SAP HANA, enables banks and insurance companies to prepare and execute complex calculations and distribution models. This makes it possible to conduct flexible and prompt profit analysis for your products. FS-PER is based on the preconfigured Finance & Data Risk model and delivers a framework for cost and income allocations to the individual product and contract level.

  • We offer modelling and execution of the cost and income allocations for granular data, e.g. a product or customer.
  • Execution of what-if-simulations, e.g. the influence of increased IT costs on profits of the individual departments.
  • Solvency II – calculations and reporting systems.
  • Simple integration with other SAP ERP/Core banking/planning data.
  • Preconfigured content for a fast implementation especially with an existing SAP Bank Analyzer landscape.

Our competence

Our wide knowledge in the accounting environment makes us the ideal partner for banks and insurance companies. During the implementation of the standards we not only consider the individual technical tasks, but also the overall architecture.

References

Implementation of Expected Credit Loss (ECL) calculation

ADWEKO assists the Münchener Hypothekenbank in the conception and technical implementation of the ECL calculation.

Transition of IAS 39 to IFRS 9

ADWEKO supports a state bank with the transition of the accounting system IAS 39 to IFRS 9 within an existing SAP Bank Analyzer environment including...

IAS 39 to IFRS 9

ADWEKO takes over the conversion of the accounting system IAS 39 to IFRS 9 within an existing SAP Bank Analyzer landscape including the integration of...

Risk provisioning in accordance with IFRS 9

ADWEKO provides mortgage lenders with expert advice on the implementation of loan loss provisions in accordance with IFRS 9 requirements, including...

ADWEKO act at Nord/LB

ADWEKO act serves at Nord/LB as a basis for efficient tests within the framework of the introduction of the AFI subledger scenario.

Christian Kobler