Common Business Orientated Language, many of its specifications are derived from the earlier FLO-MATIC language. Its designed for business use and easy readability and machine independence. Designers hope that COBOL program would run on any computer for which a compiler exists with only minimal modifications. COBOL survives to this day. A study in 1997 estimated that over 200 billion lines of COBOL code were still in existence, accounting for 80% of all business software code.