Thursday, March 09, 2006

CCH Joins the XBRL Revolution

Financial information giant Commerce Clearing House has joined with Rivet Software to make XBRL (eXtensible Business Reporting Language) coding a feature of CCH's Pro System fx software. In the initial stages, the program primarily would allow middle-sized and larger audit clients to convert accounting data into the XBRL format. There is some talk as well of making Pro System tax software compatible with XBRL; the IRS may at some point follow the SEC's support of the "real-time" language. Although the SEC does not require XBRL, recent statements by Chairman Cox have clearly endorsed a movement toward the use of XBRL.


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