New York, NY - May 19, 2008 - Pinnacle announced the introduction of
its new service today, XBRL Sherpa. XBRL Sherpa is a quick, easy, affordable way to
implement eXtensible Business Reporting Language (XBRL) into an organization's
financial reporting process.
This move comes in response to the Securities and Exchange Commission's (SEC)
announcement that it is aiming to make XBRL mandatory for all large companies
beginning next year, and within three years for all public companies.
XBRL is a new way of tagging data similar to bar codes, which is designed to make
data interactive. In the long term, companies implementing XBRL will benefit from
better internal management information and applications, and investors will benefit
from improved analytical methods to analyze financial information.
There will be a learning curve for companies that need to rapidly transform their
financial reporting processes and implement XBRL to meet anticipated SEC deadlines.
XBRL Sherpa is an accelerated method of implementing XBRL taxonomies into an
organization's financial consolidation, management, and reporting processes, without
undergoing additional expenses like in-house training.
Pinnacle's XBRL Sherpa is easy to implement and use, offers full support for multiple
taxonomies and is customizable by vertical and industry, allowing companies to address
anticipated XBRL reporting requirements to the SEC or BASEL II. Taxonomies are based
on all current XBRL 2.1 standards and include IFRS, US GAAP, UK GAAP, as well as
several others. There is also full support for Financial Reporting Taxonomy Architecture
(FRTA) 1.0.and Financial Reporting Instance Standards (FRIS) 1.0.
About TITAN-Pinnacle
Founded in 1995, Pinnacle is a global consulting firm focusing on business
analysis and financial systems solutions. Pinnacle is an Oracle Certified Advantage Partner
with a Hyperion specialization. Pinnacle supports clients with selection of best-of-class
software packages, data quality improvement and Sarbanes-Oxley compliance, multi-currency
consolidation and financial reporting, inter-company processing and analysis, financial
budgeting and planning, business intelligence and performance management.
www.pgww.com/solutions/XBRLsherpa.asp
Links:
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