XBRL TAGS ALIGNED TO FASB CODIFICATION
Washington, D.C. - The Financial Accounting Standards Board and XBRL US have completed their work in revising the XBRL U.S. GAAP Taxonomy to reflect the FASB Accounting Standards Codification that was released on July 1.
The new Codification will serve as the single source of authoritative nongovernmental U.S. GAAP and became effective for interim and annual periods ending after Sept. 15, 2009.
The Securities and Exchange Commission mandated the use of XBRL last December. XBRL technology allows public companies to file their financial statements in an interactive data format that analysts and investors can use to compare companies more easily. The SEC mandated the use of XBRL for all public companies over a three-year phase-in period. Large public companies with a worldwide float greater than $5 billion began filing interim statements with periods ending on or after June 15, 2009.
Last year, FASB created an XBRL project team that worked closely with XBRL US to release the new XBRL extension taxonomy for the Codification.
COUGAR MOUNTAIN OFFERS FINANCIAL DASHBOARD
Boise, Idaho - Cougar Mountain Software has teamed up with Dundas Data Visualization to develop a financial dashboard for its general ledger software. Cougar Dtails provides a visual representation of company data within customized date ranges and shows a company's financial health and the trends over time.
The dashboard consists of three different views: the Profit & Loss view (Revenue & Expense view for nonprofit users) illustrates income (revenue) and expenses over a period of time, and a look at net profit/loss; the Cash Flow view shows the relationship between cash and liabilities; and the Financial Indicators view displays how a company is performing compared to the previous year.
Cougar Dtails updates automatically each time the program is opened and users can set their own preferences for what they view on the screen. There is also the ability to drill down four levels to get a specific breakdown of financial data.
For more, visit www.cougarmtn.com.
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