Customer story
Ind AS adjustments out of the spreadsheets and into the ledger
Acko keeps its books in Oracle Fusion. The Ind AS adjustments that turn those books into financial statements were being worked out in spreadsheets beside it.
| Books | Oracle Fusion Cloud |
|---|---|
| Connection | Read-only OAuth, ledger balances |
| Ind AS 116 | Leases, including modifications |
| Ind AS 109 | Fair value and ECL |
| Ind AS 102 | ESOPs |
All three were being computed in spreadsheets beside the ledger.
Acko cut its financial statement preparation time by more than 70%.
Who they are
Acko is a digital-first insurer in Bengaluru. Its books live in Oracle Fusion Cloud.
The problem
The books were fine. The trouble was everything between the ledger and a set of Ind AS financial statements, and all of it happened outside the ERP, in spreadsheets:
- Ind AS 116 lease right-of-use assets
- Ind AS 109 fair value of mutual fund investments, and expected credit loss (ECL)
- Ind AS 102 ESOP charges
Every time, somebody pulled trial balances by hand, layered the adjustments on top and assembled the notes. It was slow, and it was hard to evidence for auditors.
What we did
- Connected to Oracle Fusion read-only through scoped OAuth, a login that grants narrow, revocable access. It is limited to ledger balances and cannot write anything.
- Set the trial balance to refresh automatically, with no manual exports
- Built FINAHQ auto-journals for leases including modifications, mutual fund fair value, ECL, ESOP capital contribution and share issue expense
- Reconciled every adjustment against Acko’s audited financials, with memo journals keeping the trail
- Produced a draft P&L, balance sheet, cash flow, trial balance and footnotes from the adjusted ledger
What changed
Statement preparation now takes more than 70% less time.
The lease edge cases surfaced too. Modification versus cancellation is the Ind AS 116 call that quietly goes wrong in a spreadsheet, and it came up before close instead of during audit.
“FINAHQ impressed us from day one. What stood out was the sheer flexibility of the platform — we had unique reporting needs given our insurance business, and the team configured the system to match exactly how our finance team thinks about the numbers. The implementation was seamless, far faster than we anticipated, and the FINAHQ team was with us at every step.”
— Ramdas Parameswaran, CFO, Acko Life Insurance
Questions
Commonly asked
How does it connect to Oracle Fusion?
Through a read-only API integration using scoped OAuth access, limited to ledger balances. Nothing is written back, and nothing beyond the ledger is in scope.
Which Ind AS adjustments are automated?
Ind AS 116 leases including modifications, mutual fund fair value and expected credit loss under Ind AS 109, and ESOP capital contribution and share issue expense under Ind AS 102.
How was it checked?
Every adjustment was independently recomputed and reconciled against Acko's audited financials. Memo journals keep the trail, so an auditor can see how each figure was arrived at.
What comes out of it?
A draft P&L, balance sheet, cash flow, trial balance and footnotes, generated from the adjusted ledger rather than assembled by hand.