GLOBAL - State Street-owned Princeton Financial Systems has introduced an unlimited multi-base accounting tool as part of its existing PAM portfolio management and accounting system.
Historically, investment management firms have used several systems to process different countries’ local , tax, regulatory and consolidated accounting requirements.
The new tool aims to streamline this process and perform all of their accounting bases on one system.
Each basis can have its own chart of accounts with a complete set of rules determining the proper accounting treatment and valuation, and is updated simultaneously by the same transaction and in the same database.
PAM provides STP-ready front-to-back office functionality that can be licensed for in-house use or accessed via the Internet.
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