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XBRL Project Gets Backing From Software Vendor DENVER, Dec. 6, 2000 (SmartPros) Yet another software maker, FRx Software Corp., a Denver-based maker of advanced financial reporting and business analytic application software, has thrown its support behind the XBRL (Extensible Business Reporting Language) specification for Financial Statements released by the XBRL Consortium. FRx Financial Reporting Version 6.0 offers XML (Extensible Mark-up Language) as the primary report output when generating FRx financial reports. FRx said it plans to release an upgrade to its Version 6.0 product line early next year, and will provide an add-on XBRL module. The electronic financial reporting language got a boost when Securities Exchange Commission chairman Arthur Levitt encouraged expansion of the project at the October Fall Council meeting of the American Institute of CPAs. Eventually, its developers hope XBRL will also be used for tax and regulatory filings and accounting and business reports. "XBRL will allow our customers to spend less time doing data entry and more time doing data analysis," said Rob Blake, director of product strategies for FRx. "XBRL benefits everyone in the financial information chain, from staff accountants to controllers and CFOs." The software firm is also member of the XBRL Consortium, is a nonprofit group of more than 70 companies and organizations developing an XML-based framework for the reporting of business information. -- SmartPros News Staff Send comments to information@smartpros.com. 2000, Smartpros Ltd. All Rights Reserved. |
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