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:

Table 11-3 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

Table 11-4 Acct Roles for 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:

Table 11-5 Suffix

AQP	Acquired Interest Payable
AQP	Acquired interest receivable
EXP	Expense
PAY	Payable
PIA	Payable in advance
REC	Receivable
RIA	Received in advance