WSS updates hedge accounting software

Wall Street Systems (WSS), the global treasury and capital management system provider, has launched a new module for its treasury engine to incorporate the most recent worldwide hedge accounting requirements. The new ‘hedge compliance module’ replaces the original ‘hedge accounting module’ that has been in operation since May 2000.

The updated software purports to address all international accounting standards, including IAS 39, scheduled to take effect for all European listed companies from January 2005. The system will be provided free to existing treasury engine customers. WSS said it has had significant interest in the system from companies, though Keith Bergman, business solutions manager at WSS declined to comment on specific companies.

Bergman said the new module has improved documentation capabilities, with more analytics and greater flexibility, making the system more versatile. Users of the original software would find it familiar and easy to navigate, he added.

“Many treasuries are still unprepared for the sheer magnitude of the documentation, accounting entries and ongoing assessment that comes with complying,” said Bergman.