Subsidiary and ISO 20022: Difference between pages

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'''1. '''''Accounting''. 
ISO 20022 is the international standard for financial messages, issued by the the International Organization for Standardization (ISO).  


A parent undertaking has a subsidiary for accounting purposes if it has control over the other entity.


The subsidiary is the entity (usually a company) which is controlled by the parent undertaking (also known as the group holding company).
:<span style="color:#4B0082">'''''The introduction of ISO 20022'''''</span>


:"The new standard will significantly increase the amount of data that will be able to accompany the payment instruction.


'''2.'''  Of lesser importance.
:One of the main benefits will be an increase in the ability to automate the allocation of receipts to customer accounts – reducing the time consuming, expensive and error-prone need for manual intervention.  


== See also ==
:In addition, it will allow more information regarding ultimate beneficiaries which will support any requirements for enhanced anti-money laundering protocols."
* [[Acquisition accounting]]
 
* [[Group]]
:''Association of Corporate Treasurers - blog - April 2022.''
* [[Group accounts]]
 
* [[Holding company]]
 
* [[Parent company]]
==See also==
* [[Strategic business unit]]
* [[ISO]]
* [[Subsidiary undertaking]]
* [[ISO currency codes]]
* [[Subsidiarity]]
* [[MT]]
* [[MX]]
* [[Payments Market Practice Group]] (PMPG)
* [[Society for Worldwide Interbank Financial Telecommunications]] (SWIFT)
 
 
==External link==
*[https://www.iso20022.org/ ISO 20022 website]
 
[[Category:Financial_products_and_markets]]

Latest revision as of 11:44, 15 November 2023

ISO 20022 is the international standard for financial messages, issued by the the International Organization for Standardization (ISO).


The introduction of ISO 20022
"The new standard will significantly increase the amount of data that will be able to accompany the payment instruction.
One of the main benefits will be an increase in the ability to automate the allocation of receipts to customer accounts – reducing the time consuming, expensive and error-prone need for manual intervention.
In addition, it will allow more information regarding ultimate beneficiaries which will support any requirements for enhanced anti-money laundering protocols."
Association of Corporate Treasurers - blog - April 2022.


See also


External link

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