XBRL News & Notes

Comment

Comment by Arun Bhatnagar on February 5, 2011 at 11:42am

Softpark 21 (India), India’s First Company to be Recognized by HMRC, U.K. for its iXBRL-Compliant ResearchPoint  Platform

New Delhi, India – February 2, 2011

Softpark 21 (India), a leading Indo-US software company since 1993 and a specialist in  XBRL (eXtensible Business Reporting Language) automation software, is pleased to announce that it has become the first and only Indian firm to receive HMRC, U.K. recognition for its ResearchPoint-XBRL platform in all three iXBRL categories.

Arun Bhatnagar, founder and CEO of Softpark 21 (India) said, “we are very excited that regulators in UK have recognized our state-of-the-art XBRL solution and services. With HMRC recognition we are ready to serve U.K. customers for their iXBRL filing needs starting April 1, 2011.”

Elmer Huh, Director at Duff & Phelps, New York and one of the original author of XBRL specification and members of XBRL International said, “XBRL is a language for the electronic communication of business and financial data which is revolutionizing business reporting around the world. It provides major benefits in the preparation, analysis and communication of business information. It offers cost savings, greater efficiency and improved accuracy and reliability to all those involved in supplying or using financial data. It is an open standard, free of license fees, being developed by a non-profit making international consortium.”

Ashu Bhatnagar, XBRL technology expert and co-founder of Softpark 21 (India) said, “with first hand experience developing XBRL technology for Wall Street firms, Softpark’s ResearchPoint-XBRL technology is based on next generation Semantic Web technology from W3C and XBRL standards integration offering an unprecedented level of automation and higher level of data quality.”  

According to HMRC - Software applications or services that produce iXBRL Accounts and/or iXBRL Computations, fall into the following categories: