Calc 1.1-certified software products now available
At this week’s Data Amplified conference in Zurich, XBRL International announced the first software products to be certified for the new Calculations 1.1 specification. Seven vendors have demonstrated that their products meet the rigorous technical criteria required to gain certification for this new module.
Calculations 1.1, which reached Recommendation status in February of this year, provides an improved approach to checking calculation relationships and avoids many of the ‘false positives’ that can occur due to the common practice of presenting rounded figures in financial reports. By removing these false positives, Calculations 1.1 allows preparers and reviewers to focus on other calculation errors that may reflect real errors in either the tagging or the underlying numbers.
We encourage all users to start using products that support Calculations 1.1 when checking calculation relationships. For more details, please see our guidance document on adopting Calculations v1.1.
We would like to congratulate and thank ABZ Reporting, Altova, Amana, Arelle, CoreFiling, Reporting Standard and UBPartner for their early support of this new specification, which we believe will play an important role in improving the quality of financial reports. Information on certified software can be found at software.xbrl.org.
