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IAS39 Provision Monitoring
  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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