IFRS Solutions

IFRS 9

Oracle IFRS 9 solution is built on Oracle’s Integrated Finance and Risk Architecture and caters to IFRS 9 guidelines which related tothe classification andmeasurement, impairment andprovisioning,hedge accounting.The solution seamlessly integrates with Finance and Risk applications, including Financial Accounting, Performance Management, Risk Management, and Reporting Systems, and provides advanced stress testing and modeling capabilities.

IFRS 16

Report information that accuratelyrepresents lease transactions and provide a basis for users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases.Creating a single lease data repository is one of the most critical aspects of achieving full compliance under IFRS 16 / ASC 842.With the solution, user can import and/or input data including leasing contract info, asset details, fixed and variables lease parameters. The solution can be easily integrated with any Oracle and non-Oracle source applications.

IFRS 17

Oracle provides a comprehensive solution for the diverse insurance industry to address the financial accounting requirements of IFRS 17 and to measure and report liabilities and unearned profit as per the new standard. Oracle IFRS 17 solution is built on Oracle’s integrated risk and finance architecture and provides out-of-the-box capabilities for data aggregation and CSM calculations, while seamlessly integrating with finance and actuarial applications, enabling accounting, performance management, risk management and reporting from a single platform.