The XBRL International Organization welcomes FAPCOTECH as a new Direct Members to the consortium.

 

United States Of America - Friday, October 30, 2015-- XBRL International, Inc. (www.xbrl.org) announced today that Fahad Al-Ghunaim and Partners Company “FAPCOTECH Integrated Business Solutions” has been approved as a direct member to the global consortium to support its efforts to adopt and implement XBRL as the worldwide business reporting standard. FAPCOTECH is the first Kuwait Company in the field of Software Development and IT services to become a direct member to the XBRL international organization.

FAPCOTECH’s Objective in joining the international XBRL consortium (using XML programing language as a base for business reporting standards) is to stay ahead of the technology and help increase XBRL adoption by Kuwaiti companies. XBRL stands for eXtensible Business Reporting Language. Simply put, it's reporting electronically. Just like PDFs or spreadsheets are a type of output, XBRL is another output option in electronic form. Said, Mazen Bou Diab – General Manager of FAPCOTECH.

About XBRL International, Inc.

XBRL International, Inc. (XII) is a global consortium using a cooperative effort to create a common business reporting language based on XML. This Web protocol is being developed and promoted by an international, not-for-profit consortium of more than 600 major international companies, associations and government agencies.


XBRL is a language for the electronic communication of business and financial data which is set to revolutionize 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.XBRL benefits all members of the business and financial information supply chain by utilizing a standards-based method with which users can prepare, publish in a variety of formats, exchange and analyze financial statements and the information they contain. Some of the world’s leading, government, organizations, regulators, exchanges, accounting firms, financial and software organizations are involved in the adoption and use of XBRL.

For more information about XBRL, please visit www.xbrl.org.

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