11.3 Accounting Roles
This topic describes the Accounting Roles involved in MM contract.
In this section, we have provided two separate lists of sample accounting roles. The list I contain accounting roles that are set up for a Placement product. List II contains samples of accounting roles that apply to a Borrowing product.
In this section, we have provided two separate lists of sample accounting roles. The list I contain accounting roles that are set up for a Placement product. List II contains samples of accounting roles that apply to a Borrowing product.
List I – Acct Roles for a Placement Product
The following is a list of Acct Roles for a Placement Product:
Accounting Roles
Accounting Role |
Description |
Role Type |
---|---|---|
BROKEXP |
Brokerage Expense |
Expense |
BROKPAY |
Brokerage Payable |
Liability |
BROKPIA |
Brokerage payable in advance |
Asset |
ASSETGL |
Asset GL for Placements |
Asset |
FWDASSETGL |
GL for Future Dated Placements |
Contingent Asset |
FWDASSETOFF |
Offset for Future Dated Placements |
Contingent Liability |
INTERINC |
Fixed Interest Rate |
Income |
INTERRIA |
Fixed Interest Rate |
Liability |
PENL1INC |
Penal Int on Ovd Principal |
Income |
PENL1REC |
Penal Int on Ovd Principal |
Asset |
CHARGINC |
Common Flat Amt W/o Slab |
Income |
ComponentUNRL |
Unrealized Income |
Income |
ROLL_WASH |
Bridge account to wash the original parent’s outstanding balances to the child contract |
Asset |
List II – Acct Roles for a Borrowing Product
This is the list of Acct Roles for a Borrowing Product
Acct Roles for a Borrowing Product
Accounting Role | Description | Role Type |
---|---|---|
LIABGL |
Liability GL for Borrowings |
Liability |
FWDLIABGL |
GL for Future Dated Borrowings |
Contingent liability |
FWDLIABOFF |
Offset for Future Dated Borrowings |
Contingent Asset |
INTEREXP |
Fixed Interest Rate |
Expense |
INTERPIA |
Fixed Interest Rate |
Asset |
INTERPAY |
Fixed Interest Payable |
Liability |
CHARGEXP |
Common Flat Amt W/o Slab |
Expense |
FRTAX1_PAY |
Tax payable role forFRTAX1 |
Liability |
FRTAXS_PAY |
Tax payable role for FRTAXS |
Liability |
ComponentREAL* |
Realized Income |
Income |
The ‘component’ is the ICCB component that is created.
Note:
In the accounting roles listed above the prefixes INTER (Interest), PENL (Penalty), BROK (brokerage), CHARG (Charge) FRTAX1 (Tax) and FRTAXS are ICCB components.
The suffixes stand for:
Suffix
AQP |
Acquired Interest Payable |
---|---|
AQP |
Acquired interest receivable |
EXP |
Expense |
PAY |
Payable |
PIA |
Payable in advance |
REC |
Receivable |
RIA |
Received in advance |
Parent topic: Accounting entries for Money Market