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Microsoft Corp. on Wednesday announced plans to work with Edgar Online Inc. on new software designed to change the way companies author and analyze financial data.
The Microsoft Official Solution Accelerator for XBRL (Extensible Business Reporting Language) will help users more easily author and analyze financial documents using Microsoft Word and Excel, 2003 versions, officials said. Microsoft announced the software at the XBRL International Conference in Seattle.
By using Web Services software to extend the Accelerators capabilities, Edgar Online customers will be able to extract and review financial information in Edgars repository directly from within Microsoft Excel 2003.
How it will work: Edgars online Web service will transmit XBRL financial statement data from its online subscription service, Edgar Online Pro, to Excel through the Accelerator—a technique designed to help investors and analysts use Edgar Online on their desktops, the officials said.
Edgar Online, of Norwalk, Conn., provides access to financial information on more than 12,000 public companies.
Microsoft, of Redmond, Wash., makes a number of Office Solution Accelerators that comprise software components, templates and best practices designed to solve specific problems within an organization.
The combined solution will be available in the first quarter of 2004.
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