Houston -- October 14, 2009
TPG Software announced that the next release of its investment and liability accounting solution, Portfolio Genius, will contain enhancements that provide compliance with new financial statement reporting standards and will help facilitate the transition to International Financial Reporting Standards ("IFRS"). Included in the release is the ability to run multi-book accounting, both with current election and hypothetical books.
Slavek Rotkiewicz, President and Chief Technology Officer at TPG Software, said "Financial institutions will be required to demonstrate that their reporting is in compliance with IFRS, which may materially impact income statement and balance sheet reporting. TPG provides a solution to smooth the transition by running multi-book accounting to compare differences."
TPG Software is a leading software solutions provider for institutional investors such as banks, thrifts, credit unions, REITs, and broker/dealers throughout the United States, Canada, and Puerto Rico.