Clarity FSR is Recognized by HMRC as an XBRL Conversion Software ApplicationBy Clarity Systems Limited, PRNE
Wednesday, July 14, 2010
Clarity FSR Automates the Statutory Accounts Production Process While Addressing Inline XBRL Requirement
LONDON, July 15, 2010 - Clarity Systems, a leader in corporate performance management (CPM) and
external reporting solutions, today announced that HM Revenue & Customs
(HMRC) has recognized Clarity Systems on their list of XBRL Conversion
Software Application providers. The CLARITY FSR solution was used to
successfully produce iXBRL output to the specifications of HMRC for the
filing of company tax returns.
HMRC has mandated that all UK companies with a year end after 31 March
2010 will be required to file their company tax returns online from April
2011 onwards with their statutory accounts and tax computations in iXBRL
format. The accounts and computations will need to be tagged with
descriptions predefined by HMRC and by the UK GAAP/IFRS taxonomies.
Until now, companies and accountants have had to manually prepare their
accounts and take additional steps to tag and convert to iXBRL. Clarity FSR
offers the most advanced XBRL solution on the market today by integrating
XBRL into the external reporting process. With this approach, Clarity FSR
makes the tagging, validation and creation of iXBRL documents more efficient
and with greater controls.
"Clarity is extremely pleased to be recognised as an approved HMRC iXBRL
solution supplier," said Mark Nashman, President, Clarity Systems. "iXBRL is
a core capability of Clarity FSR, and will continue to be central to the
product as leading organisations adopt it as an external reporting platform.
We welcome HMRC's move into the iXBRL arena and look forward to working with
organisations to meet the requirements of this standardisation mandate."
About Clarity Systems
Clarity Systems delivers software solutions to the Office of Finance. Our
software helps large and mid-market organisations around the world improve
their budgeting, planning, consolidation, scorecarding and management
reporting processes, and also automates their external reporting processes to
support the production of regulatory and statutory reports not only for HMRC
and Companies House but also RNS Submissions, annual report and accounts,
prelims and interims. Our unified applications help CFOs reduce risk while
simultaneously improving operational efficiency. For more information, please
visit our website at www.claritysystems.com or call us on
+44(0)203-178-4038 in the UK or +1-877-410-5070 in North America.
For more information on Clarity Systems, please contact: Catriona Bull Clarity Systems Limited +44-203-178-4038 email@example.com For Press and Analyst Inquiries: Lindsay Hodgins, Clarity Systems Limited +1-416-845-8298 firstname.lastname@example.org
For more information on Clarity Systems, please contact: Catriona Bull, Clarity Systems Limited, +44-203-178-4038, cbull at claritysystems.com; For Press and Analyst Inquiries: Lindsay Hodgins,
Clarity Systems Limited, +1-416-845-8298, lhodgins at claritysystems.com
Tags: Clarity Systems Limited, July 15, London, United Kingdom