EY ifb Packaged solution for flexible financial instruments accounting

What EY can do for you

Financial subledger implementations are often costly endeavors. By aiming to strengthen the integrity of financial information within an organization, they often bring to light the fragmented nature of data. This can lead to cumbersome and time-consuming efforts to align and cleanse data. The modernization of finance architecture requires a pragmatic, adaptive and sustainable approach. Flexibility is key.

EY ifb Packaged solution for flexible financial instruments accounting is a modular service and content offering. The creation of a data-driven subledger forms the basis of our offering.

Our Packaged solution helps to enrich accounting content, including GL account derivations and FX re-valuations. Customers further benefit from state-of-the-art data management techniques (e.g., versioning and validation) based on SAP's sophisticated HANA technology.

Its valuation extension allows customers to measure financial instruments within FPSL. This is based on contractual cash flows and follows the guidelines of IFRS or other best practices. The impairment extension provides an FPSL-based assessment and accounting of expected credit losses based on contractual or expected cash flows.

The Packaged solution also creates opportunities to combine these contents with the main steering dimensions of every subledger project. Individual combinations can be chosen and implemented in a modular way and with their own timeline and pricing.

The delivery structure of our Packaged solution can be logically divided into a decision phase and an implementation phase. The decision phase is a pre-project phase in which we jointly agree on the main steering dimensions and their relevancy. Working closely with the client, we decide on a core package and extensions, if required. Each combination is individually priced. Payment schedules are aligned to the phased project delivery.

During the implementation phase the subledger is technically set up, the content of the Packaged solution is rolled out, and workshops are held to introduce you to the main concepts of FPSL. We study pre-existing accounting material in parallel to optimize existing information. A backlog is established and worked through to improve the overall subledger solution in an iterative way.

Our consultants work to support you with the integration and acceptance testing and to safeguard your data take-on process and early production stages.