Navision Software Joins Global Initiative in Launching XBRL, a New Specification That Exchanges Financial Reports Across All Technologies, Including the Internet.Business Editors and Technology Writers ATLANTA--(BUSINESS WIRE)--April 6, 2000 United Effort Brings Financial, Accounting, Software and Governmental Communities Together First Standardized Specification Developed for Financial Statements Navision Software announced today that through its membership on the international 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. (eXtensible Business Reporting Language) Project Committee, it is helping to develop and launch XBRL. 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, new XML-based specification that uses accepted financial reporting standards and practices to exchange financial reports across all software and technologies, including the Internet. Members of the XBRL Project Committee represent financial, accounting, software and governmental communities from around the world. 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. "Navision Software as one of the contributors to the financial information supply chain, supports the global adoption of XBRL because it greatly benefits all users of financial information," said Geni Whitehouse, alliance manager for Navision Software. "XBRL solves two significant problems for users and preparers of financial statements by providing efficient preparation and reliable extraction of financial data across all technology formats, including the Internet. We're committed to guiding this effort and plan to enable our customers to simplify the exchange of financial statements, improve flexibility, and positively impact the broad range of CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. attestation services, ranging from full-scale audits to smaller-scale reviews of selected information." 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. "Navision Software is committed to providing enterprise-wide business solutions without requiring companies to completely rework their existing infrastructures and business processes," said Geni Whitehouse. "As a proud supporter of XBRL's ongoing development, we will continue to supply our nearly 39,000 customers worldwide with the ability to do business 'their way' and still receive the benefits of the latest financial and accounting technology." "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." Navision Software joins over 30 other companies and organizations on the XBRL Project Committee. Participants include: American Institute of Certified Public Accountants; Arthur Andersen LLP; Best Software; 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  This article or section is written like an .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, LLP; Lawson Software; Microsoft Corporation; Morgan Stanley Dean Witter; 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; Sage Software; SAP AG; Standard & Poor's; Texsys RD and The Woodburn Group. For more information about XBRL, please visit http://www.XBRL.org. About Navision Software Founded in 1984, Navision Software is an award-winning, international developer and supplier of innovative, customizable enterprise business solutions that let small to medium-sized companies manage their businesses "their way." With 23 country-specific versions available, Navision Software has 39,000 installations in 89 countries worldwide. Navision Software supplies integrated business management solutions, including Navision Financials, Navision Manufacturing and Navision Advanced Distribution, to companies in the middle market. Navision Software uses advanced technologies that include development designs leveraging Microsoft Windows 2000 Microsoft Windows 95/NT, Microsoft Windows 98/NT, Microsoft BackOffice, Microsoft Office 97 and Microsoft SQL Server A relational DBMS from Microsoft that is a major component of the Windows Server System. It is Microsoft's high-end client/server database and is closely integrated with Microsoft Visual Studio and the Microsoft Office System. 7.0. All Navision Software solutions are euro-ready. Navision Software US, Inc., a subsidiary of Denmark-based Navision Software a/s, is located at 500 Pinnacle Court, Suite 510, Norcross, Georgia 30071, Phone 770-798-8300, Fax 770-798-8305. For more information, visit our web site at http://www.navision-us.com Note to editors: Microsoft, Windows, Windows 95, Windows NT, Windows 2000, SQL Server and BackOffice are either registered trade-marks or trademarks of Microsfot Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :MSFT) in the United States and/or other countries. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion