Houston -- May 13, 2009
TPG Software today announced enhancements to its investment and liability accounting solution, Portfolio Genius, to help financial institutions meet new financial statement reporting challenges. It will enable financial institutions to account for Other Than Temporarily Impaired (OTTI) assets in compliance with the newly-issued guidance on FAS157.
Slavek Rotkiewicz, President and Chief Technology Officer for TPG Software, said, "Financial institutions are required to demonstrate that their reporting is in compliance with the latest guidance on FAS157, which materially impacts income statement and balance sheet reporting."
The Portfolio Genius accounting solution not only covers all aspects of the newly proposed regulations, it also provides: