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  Survey Finds Two-Thirds Of Accounting Software Vendors Have Released or Are In Process of Releasing XBRL-Enabled Products
Time: 10:14 EST/15:14 GMT | News Source: Yahoo News | Posted By: Brian Kvalheim

XBRL-US today announced the results of its recent XBRL Software Vendor Survey showing that two-thirds of accounting software vendors have either already XBRL-enabled at least one of their accounting software packages or will do so by December 2004. These software vendors include Oracle, Microsoft, Hyperion, SAP, PeopleSoft, ACCPAC, JD Edwards and Cartesis. Conducted on behalf of XBRL-US by the American Institute of Certified Public Accountants (AICPA), the survey indicates that vendors believe the demand for XBRL functionality within accounting software is on the rise. "As the demand for enhanced business reporting through higher quality, more transparent and timely information increases, the need for technology that enables better reporting also increases," said Paul Penler, Principal, Ernst & Young and chair of the XBRL-US Adoption Committee. "XBRL is the solution, and this survey indicates that many XBRL-enabled applications are available to users now and considerably more will be developed during the next 18 months. Accounting software vendors perceive an increase in the demand and are making the investment now to XBRL-enable their tools in order to meet the needs of information users."

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