#Altova xmlspy student software#

Speed, accuracy and usability of financial disclo- and Falatko set out to prove that with the right

Interactive data has the potential to increase the enough benefits to make up for the cost. their financial data into XBRL would deliver

Tory filings and business information processing. Make financial information easier for investors to vately held companies, who in the absence of aДЄnalyze, but also to assist in automating regula- mandate are left to wonder whether translating SEC, the mandate was introduced 'вЂ¦ not only to acutely by nonprofits like MACPA and other pri. In interactive XBRL format.This mandate will be into XBRL, a process that can be further compli-Д®xtended to encompass almost all public compa- cated when financial data is housed in multiple tasks to gain more insight into their financial data.Д«y order of the SEC, public companies with trad- Despite this potential, many organizations areДЄble shares in excess of $5 billion as of June 15, concerned about the time and expense that willДў009 have been required to submit financial data be required to convert all of their financial data Showcase XBRL and its benefits to the organiza- burdensome data collection and transformation Ultimately, they hoped a successful project would the association was able to automate previously accountability вЂ“ with their data in XBRL format, Gain efficiencies and improve transparency. Verage MACPA's financial data in XBRL format to cial data into a force for driving efficiencies and Taking the mystery out of working with it, and le- data to XBRL. Se their working knowledge of XBRL, thereby successfully transform their internal accounting

#Altova xmlspy student software#

Hood and MACPA's director of finance Skip ailable XBRL software tools including the AltovaВ®ДЇalatko conceived of a project that would increa- MissionKitВ® and, with the help of a college intern, MACPA was able to take advantage of widely av. Would also extend to smaller, non-profit organiza. Ing costs and driving efficiencies in large publicД¬ompanies and wondered if the benefits of XBRL MACPA's CEO and Executive Director Tom Hood вЂћ Ubiquitous XBRL couldД®arly on recognized the value of XBRL for reduc- do for accounting/ taxation Sion of financial data in XBRL is one of those issues. The US SecuritiesДЄnd Exchange Commission's (SEC) mandate on the submis. Issues relevant to the field of accounting. With close to 10,000 members, the Maryland Association ofД¬PAs (MACPA) is often looked to for their expertise around We do think it is a powerful new technology that can reshape the financial reporting supply chain much like barcodes transformed the mfg and distribution supply chains. From here we can map to IFRS, our KPI system, and much, much more.ДЄnd did we say that we did this with an accounting intern?

This case study was produced by Altova after hearing about our use of XBRL GL to tag and embed XBRL into our general ledger and then map to our financial statements and the US GAAP taxonomy. Cohen of PWC (and a founding member of XBRL). The project was done with our Director of Finance, Skip Falatko, CPA and a college student intern, Tom Hood IV (Salisbury University) with inpsiration and coaching by Eric E. The Maryland Association of CPAs recently set out to see for oursleves and using a set of tools from Altova were able to use XBRL successfully to map our financial data, moving it into KPI software, and believe it can be used to populate tax filings, produce on-line financial statements and much more. Can XBRL be used by NFPs and small businesses to gain internal efficiences with their accounting and financial reporting functions?