XBRL Compliance Goes Worldwide: Get a Head Start with Microsoft Dynamics GP Analytical Accounting and Microsoft FRx

If you think XBRL (Extensible Business Reporting Language) is just another one of those Securities and Exchange Commission (SEC) compliance requirements that will keep consultants and auditors busy for the next three years, think again.

XBRL is becoming the de facto world standard for presentation of corporate financials to government entities in the global economy. The Institute of Chartered Accountants of India is rolling out the first part of its XBRL initiative this coming September, the Tokyo Stock Exchange in Japan and Companies House in England -- a British government registry of companies -- are requiring or testing XBRL filings as I write this article, and eight other countries are working on similar proposals.

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About Mariano Gomez

Mariano Gomez is a Microsoft MVP, PMP and EVP for Midmarket Solutions at Intelligent Partnerships, LLC. He is the original developer of the Microsoft Dynamics GP Spanish release for Latin America and has been consulting and implementing technology solutions for organizations across the United States, the Caribbean, and Latin America for the last 20 years. Mariano holds an MIS degree from the University of Phoenix.

About Intelligent Partnerships, LLC

With over 150 years of combined management and technology consulting experience, Intelligent Partnerships skillfully partners with organizations to solve complex problems, boost operating performance and maximize value for stakeholders. 

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More on FRx and XBRL

Excellent article. For more on FRx and XBRL, see my post at http://www.frxbuzz.com/more-on-frx-and-xbrl/. Basically, FRx supports the existing XBRL taxonomy, but there is a newer beta taxonomy that FRx in its current form will not support. However, FRx's replacement product, Management Reporter, will eventually support XBRL (presumably the new beta taxonomy). In this post there's also a link to a 2nd post on how to implement XBRLin FRx showing screenshots of how to set it up. Doesn't cover Analytical Accounting though! Thanks for the post. Jan Harrigan, FRxBuzz.com
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