About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Pendo Systems Develops OTTI Analysis Report for FASB Accounting Requirements

Subscribe to our newsletter

Accounting solutions vendor Pendo Systems has developed a new report aimed at assisting its clients in identifying investments that come under the other than temporary impairment (OTTI) classification, as specified by the Financial Standards Accounting Board (FASB). OTTI has been a hot topic over the last few months, as the FASB has been coerced by industry lobbyists to revise its mark to market accounting rules.

The newly revised accounting rules allow firms “significant judgement” in the valuation of their assets and are considered to be a major step away from the original mark to market guidelines, according to the FASB. The area of OTTI has been altered to reflect the impact of the financial crisis so that losses recorded in capital are based on economic losses rather than market losses.

The vendor’s new OTTI Analysis Report is being offered to clients using its flagship BasisPoint accounting system, which provides an automated database of client accounts. The report will therefore assist BasisPoint clients in identifying investments that are candidates for Generally Accepted Accounting Principles (GAAP) impairment accounting as required by a number of different regulations as well as International Financial Reporting Standards (IFRS) accounting requirements.

“This report was designed to allow users the flexibility to select run-time threshold parameters, such as percentage of market value under book value and over how many time periods,” explains Teri Henry, BasisPoint product manager.

As well as updating its accounting solution, Pendo Systems has also been recently focused on increasing its general data management offering. In November last year the vendor formed a strategic alliance with buy side data management solution vendor Data Agent to deliver an integrated solution aimed at streamlining data management for financial services firms. The two firms are developing a multi-dimensional platform on which they claim customers will be able to manage their investment data via the combination of their respective offerings.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unpacking Stablecoin Challenges for Financial Institutions

The stablecoin market is experiencing unprecedented growth, driven by emerging regulatory clarity, technological maturity, and rising global demand for a faster, more secure financial infrastructure. But with opportunity comes complexity, and a host of challenges that financial institutions need to address before they can unlock the promise of a more streamlined financial transaction ecosystem. These...

BLOG

12 Leading Vendors Operationalising AI & ML with Robust Data Pipelines

The transition of artificial intelligence and machine learning (ML) models from experimental sandboxes to production environments remains a persistent operational friction point. While quantitative researchers and data scientists can often demonstrate alpha in isolated backtesting environments, the institutionalisation of these models requires a level of data pipeline robustness, latency control and regulatory auditability that research...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Data Lineage Handbook 2019

Welcome to our latest handbook on data lineage, a critical concern for data managers working to achieve regulatory compliance, deliver operational gains, and provide meaningful value to the business. The handbook covers the complete scope of data lineage, with a view to helping you win management buy-in and budget, decide whether to build or buy...