SAP launches new Basel II functions for mySAP Banking
German software services provider SAP said it is providing new functions for its mySAP Banking package to help banks meet the requirements of the risk-based Basel II capital Accord and new international accounting standards in the European Union (EU).
The EU international accounting standards functions of mySAP handle information at unit and group levels. The functions integrate financial statements and automated processes for inter-unit elimination, currency translation and consolidation of investments. The EU wants to apply the standards in 2005.
David Keefe
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