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ProMIS IAS 39 Provision Monitoring System
is designed for Finance Companies and Banks
to monitor provisions for loans issued to
customers to ensure it is as per the IAS39
guidelines.
The loan outstanding details of customers along
with and the anticipated repayment/recovery
schedules can be entered into the system. Based
on the inputs provided, the Net Present Value
(NPV) of the anticipated cash flow will be
calculated and reports generated to show the
provisions required as per IAS 39.
Major Data Entry screens in the system:
(a) Customer Details - Customer master details
such as Account name, code, outstanding balance
against that customer, provisions, security etc.
can be entered here.
(b) ARM Entry - Name and Code number of all
Account Relationship Managers.
(c) Loans - Loan Accounts Entry screen could be
used to enter details of loans such as Loan A/c
No, Loan Amount, Outstanding amount, Interest
rate, Reserved Interest, Capital Provision,
Securities etc.
(d) Repayments - The revised repayment schedule
for the customers can be entered.
Major reports generated through the system:
(a) IAS 39 Provision Statement (with NPV of
future cash flow discounted at the original
interest rate)
(b) IAS 39 Provision Statement [ARM wise]
(c) Loan Status Report [Customer wise – detailed
with re-payment schedule]
(d) Provision Calculation Statement – Detailed
report showing the Discounting Factors for each
installment of the repayment (with details of
the formulae applied).
(e) Customers List (All/ARM wise)
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ProMIS