Ecquaria is pleased to share with business owners, company directors and accountants at the recent "Essentials for Business" seminar on 1 July 2008 organized by Accounting & Corporate Regulatory Authority (ACRA) Singapore on the new filing standards using XBRL for business financials.

XBRL which stands for eXtensible Business Reporting Language is a globally recognised business reporting language that allows financial reports to be filed using interactive data. Instead of treating financial information as a block of text - as in a standard Internet page or a printed document - XBRL provides an identifying tag for each individual item of data.

The goal is to improve data analysis, comparison and reporting and ensure ease of data transfer to the public and government agencies.

To prepare businesses to submit their filings using XBRL, ACRA provides a free online tool called FS Manager, as part of BizFile, which helps them prepare and manage financial statements in XBRL format.

FS Manager is designed and developed by Ecquaria. The move towards XBRL adoption puts ACRA as a foremost government agency in Asia in improving financial governance, accountability and transparency.