Technology


XBRL-US, the United States division of the AICPA-led trade group sponsoring the extensible business reporting language (XBRL), releases the results of an Institute-conducted survey ( www.xbrl.org ), which showed two-thirds of vendors either had made at least one of their accounting software products XBRL-enabled or planned to do so by December 2004.

XBRL uses XML “tags” to describe data elements contained in public and private companies’ financial statements. These attributes make it easier to assemble information and reissue it in a wide variety of formats without data reentry or other time-consuming manual processes.

NEWS

IRS sets start date for tax season

The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.