Possible to open new form and populate fields with a report action??

I have a custom report action that sets the status of a record to "Approved". Is it possible to add the following functionality to this action:

- Open a new window with another form (I actually know this part can be done with OpenURL)

- Populate some fields on the newly opened form, using data from the record which the action was invoked.

For clarity, here's a brief description of the particular situation that has prompted this question:

Have a form called "Quotes". Quotes form has a status field (Pending, Approved, Rejected). One report for the Quotes data shows all Quotes records where status=pending, and has an action button to approve or reject each record.

Upon approval of a Quote, our workflow is such that we need to then generate a Work Order. I would like to minimize the steps required to create a new Work Order and associate it with the Quote being approved.

Thanks