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IFRS 9

IFRS 9


      After the 2008 financial crisis, the G-20 summit called for the establishment of a set of high-quality new global accounting standards. In July 2014, the International Accounting Standards Board (IASB) issued IFRS 9, which will replace the current IAS 39. In March 2017, the Ministry of Finance officially promulgated the corresponding convergence criteria, requiring overseas listed enterprises to implement as of January 1, 2018, domestic listed enterprises as of January 1, 2019, and other non-listed enterprises as of January 1, 2021. The implementation of IFRS 9 will have a great impact on accounting classification and measurement, fair value valuation, impairment calculation and hedging accounting of financial institutions. It is necessary to reform the corresponding data model, management process and information system. It is a relatively complex system engineering. In the early stage, it is sometimes necessary to introduce consulting companies to carry out professional consultation and planning, which is difficult, long-term and costly. High. In 2016, TANSUN established IFRS-9 R&D team to conduct in-depth research and interpretation of the new criteria, combined with its technical advantages and summarized the implementation experience of related projects such as Construction Bank and CITIC Bank, and completed the research and development of TANSUN IFRS-9 products, which fully covers the core functions of the new criteria and the auxiliary application functions of internal management requirements, and It can support rapid deployment in a modular and loosely coupled way, thus meeting the user's customization and fast online requirements of IFRS 9 criteria, greatly reducing the difficulty of system implementation, shortening project cycle and effectively controlling project cost.

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