With the number of financial reporting standards that exist, including IFRS, US GAAP, IRS, SEC and others,
capturing the correct accounting transactions for investment assets can be challenging. Not only do firms need to
ensure consistent historical reporting, they also need to allow for necessary adjustments to adapt to evolving accounting standards.
By leveraging information captured in Markit WSO Administrator, WSO Accounting produces transactions to generate financial
reports that meet common reporting standards. It also allows for customised exports which integrate with the most widely
implemented third-party systems. Posting periods are retained, with prior adjustments separately identified for the correct
classification. Flexible built-in application reports allow company, fund or asset-level breakouts of key financial statements.