Measurement of asset impairment losses and recognition of impairment provisions in accordance with the International Accounting Standards
This system provides support in measuring the impairment of assets and recognizing impairment provisions in compliance with the requirements of IAS 39 and IAS 37, in particular allowing to:
calculate asset impairment charges pursuant to IAS 39 and calculate provisions for off-balance-sheet liabilities pursuant to IAS 37 (process: IAS Calculation)
calculate all the necessary values and keep analytical records (process: Accounting), along with the function of a subsidiary ledger
Functionality
The system provides comprehensive support for the process of calculation and accounting for impairment charges and provisions, as well as for adjusting interest income as required by the International Accounting Standards.
Key features
Comprehensiveness
Supporting the complete process of measurement and accounting for asset impairment losses and recognition of related provisions, encompassing the processes of loading data from various sources, allocation of exposure to specific portfolios, identifying and assigning the indications of impairment, calculation of write-downs and provisions, preparation and approval of accounting entries, exporting data to the general ledger, as well as providing analytical data to the data warehouse.
Auditability
Ensuring transparency and auditability of the process as well as traceability of any modifications made by users in the system parameterization and calculation results.
Subsidiary ledger
Maintaining a subsidiary ledger in accordance with the requirements of the Accounting Act.
Information
Providing inputs for postings in the general ledger as well as analytical data necessary for analysis and reporting purposes.
Quality
MEnabling the system users to evaluate and analyze the results of calculations with the help of built-in analytical reports.
References
Bank PKO BP
Deutsche Bank Polska
Contact
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In 2018, for the first time in history, the Asseco Group's revenues exceeded PLN 9.3 billion and its operating profit amounted to PLN 796.8 million, which marks an increase of 36% versus 2017. The Group achieved very good results in all segments and business areas. It developed intensively both in Poland and on foreign markets, where it generated 85% of its sales. The core business of Asseco remains the sale of proprietary IT products and services, which in the previous year amounted to over PLN 7.5 billion, representing 80% of the Group's total revenues.
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