2009年12月16日星期三

FERNBACH - GE Money Bank chooses FERNBACH for IFRS, US GAAP and Czech GAAP alongside accounting

Prague & Luxembourg, 14 January 2009 – FERNBACH, a arch all-embracing provider of solutions for IFRS compliance, multi-GAAP accounting and ICAAP has been called by GE Money Bank Czech Republic to automate its accounting according to three alongside standards: IFRS, US GAAP and Czech GAAP.

The acceding covers these accounting requirements for GE’s 5 banking institutions in the Czech Republic.

The preconfigured FERNBACH solution, FlexFinance® Accounting for alongside accounting, will accommodate GE Money Bank with a advanced arrangement which adheres to such ambitious accounting standards as IFRS.

In accession to IFRS, GE Money Bank Czech Republic will use FlexFinance® Accounting to fulfil the requirements of both US GAAP and Czech GAAP accounting. All three accounting systems are based on a individual abstracts set, which minimises the time bare for automated abstracts import. The advantage of FlexFinance® Accounting is that it uses raw data, which agency that GE Money Bank does not accept to acclimate its absolute systems.

In the past, GE Money Bank Czech Republic has based its accounting convenance on Czech GAAP and on US-GAAP for all-embracing reporting. Since the case has been afresh because to float an affair and due to the accepted move appear IFRS on the accomplished Czech market, a account of anniversary in acquiescence with IFRS is essential. The FlexFinance® IFRS band-aid from FERNBACH will acquiesce the case to present the awful automated, IFRS and US GAAP-compliant statements.

About FERNBACH:

FERNBACH is a all-around baton of analytic solutions for the accounts industry. Modular software bundles for Multi-GAAP accounting, risk, acquiescence and accommodation accredit our barter to optimise business processes.

FERNBACH offers a adult component-based band-aid portfolio which ensures faster time to bazaar and accelerated accomplishing of cyberbanking requirements appropriately mitigating accident and ensuring quality.

Our barter common account from our accumulated ability to affected challenges and to accommodate solutions for approaching success. FERNBACH innovates to maximise the achievement of our clients.

www.fernbach.com

For added data amuse contact:

FERNBACH-Software S.A.
Emma Connolly (Director of Group Marketing)
1a, Parc d'activité Syrdall
L-5365 Munsbach
LUXEMBOURG

Tel.: + 352 402244-1
Fax: + 352 402244-310

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