In at least one embodiment, a method of performing automatic transcription of musical content included in an audio signal received by a computing device is provided. The method includes processing, using the computing device, the received audio signal to extract musical information characterizing at least a portion of the musical content and generating, using the computing device, a plurality of musical notations representing alternative musical interpretations of the extracted musical information. The method further includes applying a selected one of the plurality of musical notations for transcribing the musical content of the received audio signal.