XBRL Compliance Using Altova

17 January, 2016 - Do you know that eXtensible Business Reporting Language (XBRL) is fast becoming the new standard in business and financial reporting? Are you looking for XBRL tools to help you with the transformation towards XBRL-compliant reporting?

The reach of the XBRL is rapidly expanding beyond financial reporting requirements to provide the advantages of standardized data submission across verticals. One recent development is the Work in Process XBRL Taxonomy created by XBRL.US for the surety industry.

The good news is that non-technical stakeholders can be completely shielded from the complexity of XBRL using software tools developed in concert with the taxonomy standards.

Altova is a member of XBRL.US and has recently joined the XBRL US Center for Data Quality to support the Data Quality Committee’s initiative to address the public’s concerns about the quality and usability of XBRL financial data filed with the SEC.

Altova has just released a new set of EDGAR Tools for RaptorXML+XBRL Server on GitHub. These new Python scripts for RaptorXML+XBRL Server now support validation against the new Edgar Filer Manual (EFM) version 35, as well as implementing all the Approved DQC Guidance and Validation Rules from XBRL.US.

Altova offers a full complement of XBRL tools for development, server-based automation, and even end-user submission. Learn more about products for XBRL taxonomy editing, XBRL mapping and conversion, high-performance validation, and more. Altova MissionKit is a software development suite of industrial-strength XML, XBRL, and SQL tools for information architects and application developers. MissionKit includes Altova XMLSpy, MapForce, and StyleVision for XBRL development, data integration, and rendering.

More recently, Altova has release an add-in for Excel named Work in Process (WIP) XBRL that makes it easy for contractors to submit WIP reports to sureties in a valid XBRL format – simply by entering the information into a spreadsheet in Excel. With a build-in toolbar ribbon and Document Actions pane, the add-in provides all the guidance you'll need to quickly build reports in Excel for submitting WIP XBRL data to sureties and other stakeholders.

When more control or more advanced programming logic is desired, or for large volumes of XBRL WIP reports, XBRL WIP documents can be analyzed and processed by RaptorXML+XBRL Server, and data can be extracted to a database server via Python scripts.

Unox Solutions is the authorized partner for Altova in Malaysia. For pricing information, please contact our sales consultant for the Altova product you are interested in.