IASC FOUNDATION PUBLISHES IFRS XBRL TAXONOMYThe International Accounting Standards Committee Foundation’s XBRL Team has released the near-final version of the IFRS Taxonomy 2008, translating International Financial Reporting Standards into Extensible Business Reporting Language.
The move follows the translation last year of U.S. generally accepted accounting principles into XBRL and the release of the GAAP taxonomy by the Securities and Exchange Commission and the American Institute of CPAs. GAAP and IFRS are on a path to convergence, and the SEC is pushing companies to file their financial statements in XBRL to make them easier for investors to analyze and compare.
The IFRS Taxonomy 2008 represents a complete review of past taxonomies, and is also the first taxonomy to undergo an extensive external review by the XBRL Quality Review Team, which was set up by the IASC Foundation at the end of 2007.
NET@WORK BUYS TWO SAGE VARS
New York-based reseller Net@Work has acquired Integral Computer Services and Brian Shube Consulting, expanding its Sage Software enterprise resource planning, customer relationship management and accounting practices. Financial details of the deals were not disclosed.
Integral, based in Rochester, N.Y., is a Sage business partner and software developer. Brian Shube Consulting is a Long Island-based consulting firm specializing in Sage MAS 90 systems and support.
Integral will maintain its base in Rochester. Company founder John G. Guglielmo and his staff will continue to service their 150 clients under the Net@Work umbrella. Brian Shube will continue to serve and support his existing client base as consulting manager at Net@Work. Shube will act as a client liaison.
RED WING RELEASES SOFTWARE FOR CITIES
Red Wing Software Inc. has released CenterPoint Fund Accounting for Municipals, with functionality aimed at allowing smaller municipalities to manage budgets, expenses and revenue, and to handle complex reporting.
The .Net-based application includes a six-month customizable financial statement and chart of accounts, a statement of revenue and expenses following the GASB-recommended format, and an interface to the RVS Utility Billing System. Multiple funds can be maintained with a customizable chart of accounts, and unlimited fund codes are available. It also includes the integrated CenterPoint Payroll application, where employees can work for more than one fund and are able to get a single W-2.
Budgeting can be done for individual funds such as general, capital project, street, pension, revenue, water/sewer, and more. Budget reports can be run to compare actual to budget by fund.
For more, visit www.redwingsoftware.com/municipal.
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