Best Software Joins Global Initiative to Launch Extensible Business Reporting Language.Business Editors & Technology Writers RESTON, Va.--(BUSINESS WIRE)--April 6, 2000 United Effort Brings Financial, Accounting, Software and Governmental Communities Together to Issue First Standardized Specification That Exchanges Financial Reports Across All Technologies, Including The Internet Best Software, Inc., a leading provider of HR/payroll, fixed asset management and planning and budgeting solutions, announced today that it is helping to develop and launch the new Extensible Business Reporting Language (XBRL (EXtensible Business Reporting Language) A specification for publishing financial information in the XML format. It is designed to provide a standard set of XML tags for exchanging accounting information and financial statements between companies and analysts. ) through its membership on the XBRL Project Committee, which represents financial, accounting, software and governmental communities from around the world. XBRL, formerly code-named XFRML XFRML Extensible Financial Reporting Mark-Up Language (now Extensible Business Reporting Language, XBRL) XFRML Extensible Financial Reporting Markup Language , is a free XML-based specification that uses accepted financial reporting standards and practices to exchange financial reports across all software and technologies, including the Internet. XBRL for financial statements, developed by the committee as the first product in a future family of XBRL-based products, is currently under review for comments by the accounting profession, and is anticipated to reach the market in July 2000. XBRL streamlines the financial information supply chain that includes public and private companies, the accounting profession, data aggregators, the investment community and all other users of financial statements. "Its Web-native platform - developed for the Internet from the ground-up - makes XBRL especially well-suited to development of planning and budgeting applications like Best! Imperativ Active Planner(R)," said Dan Quigg, vice president and general manager of advanced analytics products. "Our Best! Imperativ HRMS HRMS Human Resource Management System HRMS High Resolution Microwave Survey (SETI, Project Phoenix) HRMS High Resolution Mass Spectroscopy HRMS High Resolution Molecular Spectroscopy HRMS Human Resources Management Specialist (R) HR and payroll solution is already similarly benefiting from related Extensible Markup Language See XML. (language, text) Extensible Markup Language - (XML) An initiative from the W3C defining an "extremely simple" dialect of SGML suitable for use on the World-Wide Web. http://w3.org/XML/. features that will help dramatically change the way internal business processes are transacted today across all industries. That is the main reason why Best Software has been such a strong supporter of XBRL and its possibilities in our rapidly changing digital economy." XBRL offers several key benefits: technology independence, full interoperability, efficient preparation of financial statements, and reliable extraction of financial information. Information is entered only once, allowing that same information to be rendered in any form, such as a printed financial statement, an HTML HTML in full HyperText Markup Language Markup language derived from SGML that is used to prepare hypertext documents. Relatively easy for nonprogrammers to master, HTML is the language used for documents on the World Wide Web. document for the company's Web site, an EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. filing document with the SEC, a raw XML file, or other specialized reporting formats such as credit reports or loan documents. More than 80 percent of major US public companies provide some type of financial disclosure on the Internet. Investors and users of the Internet need accurate and reliable financial information that can be delivered promptly to help them make informed financial decisions. XBRL meets these needs and is particularly important in delivering financial information via the Internet, including at a company's Web site. XBRL leverages the efficiencies of the Internet as today's primary source of financial information by making Web browser searches more accurate and relevant for all users of financial information. "Best Software is dedicated to providing leading-edge HR/payroll, fixed asset, and planning and budgeting solutions in order to help its customers transform the way they manage their people, fixed asset and planning processes," said Quigg. "XBRL is yet another product development tool that we are leveraging to continue to expand the broadening scope of functionality of our comprehensive analytic solutions. This leading-edge technology, will help enable our 50,000 customers worldwide to realize significant time and cost savings when performing diverse financial reporting functions." "XBRL allows companies, analysts, investors and other audiences to make better-informed financial and management decisions and to leverage the capabilities of the Internet to facilitate the exchange of financial information," said Barry Melancon, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the American Institute of Certified Public Accountants With over 330,525 CPA members (in August 2006), the American Institute of Certified Public Accountants (AICPA) is the largest professional organization of Certified Public Accountants (CPAs) in the United States of America. . "XBRL does not change existing accounting standards, it merely provides an efficient and reliable means for the exchange. Based upon standardized, underlying data tags, XBRL does not require a company to disclose any additional information beyond that which it normally discloses in its current financial statements." Best Software joins new sister company Sage Software, Inc., and more than 30 other companies and organizations on the XBRL Project Committee. Participants include: American Institute of Certified Public Accountants; Arthur Andersen LLP; CaseWare International; Canadian Institute of Chartered Accountants The Canadian Institute of Chartered Accountants (CICA) is the umbrella body for the Chartered Accountant profession in Canada and Bermuda. Membership of the CICA totals 70,000 Chartered Accountants and 8,500 students. ; Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. Computer Consulting; Crowe, Chizek and Company, LLP; Deloitte & Touche, LLP; e-content, a division of Interleaf, Inc.; EDGAR Online, Inc.; Epicor Software Corporation; Ernst & Young, LLP; FRx Software Corporation; Grant Thornton LLP Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . ; Great Plains; Hyperion; International Accounting Standards Committee International Accounting Standards Committee was founded in June 1973 in London and replaced by the International Accounting Standards Board on April 1, 2001. It was responsible for developing the International Accounting Standards and promoting the use and application of these ; IBM; Institute of Chartered Accountants in Australia; Institute of Chartered Accountants in England and Wales England and Wales are both constituent countries of the United Kingdom, that together share a single legal system: English law. Legislatively, England and Wales are treated as a single unit (see State (law)) for the conflict of laws. ; Institute of Management Accountants The Institute of Management Accountants (IMA) is a professional organization headquartered in Montvale, New Jersey consisting of over 70,000 members worldwide. The IMA is dedicated to advancing the role of the management accountant and financial manager within the business ; KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen , LLP; Lawson Software; Microsoft Corporation; Morgan Stanley Dean Witter; Navision Software; Oracle Corporation; PPA PPA 1. Palpation, Percussion & Ausculation 2. Pittsburgh pneumonia agent 3. Postpartum amenorrhea 4. Price per accession 5. Pure pulmonary atresia GmbH; PriceWaterhouseCoopers, LLP; Reuters Group LP; SAP AG; Standard & Poor's; Texsys RD and The Woodburn Group. For more information about XBRL, please visit http://www.XBRL.org. About Best Software Best Software, Inc., with more than 50,000 customers worldwide and offices in the US, Canada and Europe, is a leading provider of solutions which help organizations transform the way they manage their people, assets and planning. Its scalable, cost-effective solutions complement core financial management systems and support the full spectrum of Microsoft(R) platforms, including Windows(R) 95, Windows(R) 98, Windows NT(R) and BackOffice(R). In February 2000, Best Software entered into a merger agreement with The Sage Group plc, a leading worldwide supplier of accounting solutions, and is now a wholly-owned subsidiary of Sage Group. For further information, call 800/368-2499, send an email to vacustserve@bestsoftware.com, or access our Web site at www.bestsoftware.com. Note to Editors: Best Software and the Best logo are registered trademarks, and Best! Imperativ HRMS, Best! Imperativ Active Planner and Best! Imperativ Analytics are trademarks, of Best Software, Inc. Microsoft, Windows, Windows 95, Windows 98, Windows NT and BackOffice are registered trademarks of Microsoft Corporation. All other trademarks are the property of their respective owners. |
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