FASB BEEFS UP XBRL FEATURES IN CODIFICATION

Norwalk, Conn. - The Financial Accounting Standards Board has expanded the use of interactive data-tagging technology in its official FASB Accounting Standards Codification.

The extra functionality makes it easier to access certain information about the Extensible Business Reporting Language, or XBRL, elements of the U.S. Financial Reporting Taxonomy that link to the codification of authoritative GAAP. The new functionality is designed to help preparers of XBRL financial statements identify XBRL elements that might need to be considered.

The Securities and Exchange Commission has begun requiring the largest public companies to file their financial statements using XBRL technology this year. The technology promises to make financial statements easier for investors and analysts to compare across companies and industries.

 

NEW SIMPLY ACCOUNTING 2010

Vancouver, B.C. - Sage North America has introduced Simply Accounting by Sage 2010, the latest version of its accounting software for small businesses.

The new version includes enhancements to performance and ease of use. A fast-posting feature solves the problem of having multiple users post items at the same time. "With fast posting, all the posting commands get sent to the server and added to the queue," said senior manager Hugo Croft-Levesque.

The sales invoice screen has been redesigned using Microsoft .Net technology. Users don't have to go outside the invoice screen to create a new customer record. The software also includes improvements in reporting speed.

Sage targets Simply Accounting primarily at the Canadian market, while Peachtree is its main retail product for the U.S. market. However, Simply Accounting is also available for U.S. customers to download. The U.S. version includes a Spanish-English bilingual interface, while the Canadian version comes with a French-English interface. For more, visit www.simplyaccounting.com.

 

CPA2BIZ SITE HELPS FIRMS EXPAND CLIENT SERVICES

New York - The American Institute of CPAs' CPA2Biz subsidiary has opened a new Web site to help firms grow their client accounting services practice.

ClientSolutions.CPA2Biz.com collates information about various Web-based solutions available on CPA2Biz's Trusted Business Advisor platform, including paperless bill management; on-demand financial applications; payroll, human resources and employee benefits; and firm marketing services.

Practitioners visiting the site can register for free weekly Web seminars and live, eight-hour Trusted Business Advisor Workshops with state CPA societies. They are also able to retrieve white papers on how to position, package and price accounting and cloud-based services. The site features several firm case studies in video and print formats, an interactive blog and other social media features.

In addition to the Web site, CPA2Biz has launched a new Web-based platform, available selectively to firms using the suite of cloud applications available through the Trusted Business Advisor Solutions program, that provides a central launching pad to the partner programs and offers an online information exchange where staff can share white papers and educational materials, as well as a marketing resource library with a variety of customized sales tools to grow the firm's client accounting services practice. The platform can be branded with the accounting firm's unique look and feel.

For more, visit http://clientsolutions.cpa2biz.com.

 

INOVIUM UPGRADES BILLING AND COLLECTIONS SYSTEM

Las Vegas - Software developer Inovium has introduced Inovium Pay 2.0, the latest version of its online billing and collections system. The four-and-a-half-year-old company specializes in on-demand business process automation software.The latest version includes ease-of-use improvements. The software integrates with existing accounting systems through ASCII text and XML files. Users can pay online through the system, and companies can send out automated reminders when bills are overdue.

Inovium now has 35 clients and is beginning to market its product to CPA firms. For more, visit www.inovium.com.

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