Microsoft Corp. has announced plans to work with EDGAR Online, Inc., on a new offering: the Microsoft Office Solution Accelerator for XBRL (Extensible Business Reporting Language), which is intended to help companies author and analyze financial data.
The alliance represents an early example of the company building on the foundation laid by the Office Solution Accelerator for XBRL. EDGAR Online will extend the accelerator's capabilities by utilizing XML Web services to allow companies to extract, dissect, and review financial information contained in EDGAR Online's information repositories directly from within Microsoft Excel 2003.
The EDGAR Online service provides direct access to financial information on more than 12,000 public companies to help investors and analysts make informed investment decisions. By leveraging the Microsoft XBRL accelerator and Microsoft's Web Services Enhancements for Visual StudioR .NET (WSE), EDGAR Online's secure XML Web service will transmit XBRL financial statement data from EDGAR Online's subscription financial analysis service, EDGAR Online Pro, to Excel 2003 through the Office Solution Accelerator for XBRL.
The combination of the XML Web service and the solution accelerator is expected to be released in the first quarter of 2004.