The Anderson Manufacturing Company (AMC) is located in Las Vegas, Nevada, and manufactures specialty parts for high-end sports cars. The company currently has an accounting information sys- tem, but over time, has found that it would like its system to do more. For example, the finance department finds an increasing need for reporting ﬁnancial data about the company in alternate report formats that the current system cannot perform. Rather than revise its existing accounting system piecewise, the company’s managers have begun to think about acquiring a new one. But which one? There are many packages available with various degrees of capability.
To help it make a decision, AMC hires Kuechler Associates, a consulting ﬁrm that specializes in software acquisitions and implementation. One of KA’s areas of expertise is implementing ERPs. One of its suggestions is that AMC consider selecting XBRL-enabled software to help it with its
ﬁnancial reporting needs.
1. What does it mean when software is “XBRL-enabled?”