Securities Accounting and FIN 46 for a Fortune 50 Financial Services Organization

Challenge

  • Issues with current process and data validation for restatement
  • Current initiatives in the areas of consolidation / deconsolidation, securities sub ledger accounting and FAS-140 & FIN 46 compliance
  • Analysis of process changes with multiple business teams
  • Tracking data flow from securities accounting systems through common data repository to the sub / general ledgers

CompuGain Solution

  • Review and documentation of process changes as business requirements (with subsequent automation of process changes by IT Team of the client)
  • Address:
    • Fair valuation, book value consolidation and de-consolidation
    • Debt extinguishment
    • Transaction consolidations and carry overs
  • Perform end-to-end data validation, reporting and development data summary binders for executive management and audit team as part of financial operations support

Results

  • Enabled our client to submit 10-K on time