Simplify the following text for a Grade 7 native English-speaking person.
Original: The FORTRAN defined by the first standard became known as FORTRAN 66 ( although many continued to refer to it as FORTRAN IV , the language upon which the standard was largely based ) .
Simplified: The name `` Fortran '' is short for `` Formula Translation '' . The language was formerly known as FORTRAN ( and older variants of it still are ) .