Initial situation
Within the initiative for introducing a trade-independent P&L determination for commercial & investment accounting, a transparent and adjustable result determination is to be established along the process chain and statutory requirements must be fulfilled.
Procedure
- Establishment of a specific mission statement across functions for a trade-independent front office P&L determination and its transition to back office P&L
- Inclusion of processes and specific requirements of the involved divisions
- Classification of the analysis results for:
- trade-dependent P&L
- trade-independent P&L
- Back office P&L
- Identification of possible error sources, e.g.:
- Different market data supplies for the aforementioned P&L determinations
- Staggered assessment times
- Identification of general issues
- Establishment and coordination of the mission statement across functions
Success
Design of recommendations for implementing a strategic approach has been presented to the board of management
