It has just been announced, at the culmination of the SEC roundtable on December 17th 2008, that the proposal for XBRL filing has been accepted (carried by 4 votes to 1) as well as for mutual fund reporting. We are awaiting a press release, but it seems some minor changes to the May 2008 proposal [...]
XBRL deployment is a long river, and you need to keep that in mind regardless if you’re focussed on the (downstream) regulatory filing and analysing components or the (upstream) ERP integration and general ledger design.
I’d like to introduce you xbrlplanet.org site where you can find overview of all important international organizations and projects whose aim is promotion and implementation of XBRL. Overview is given in the form of interactive world map (powered by Google) on which are marked all geographical locations, as well as the names of XBRL organizations [...]
I’d like to introduce you a social network dedicated to XBRL standard – XBRL Network. As the founder of this network Miles P. Jennings, Jr. says “Although the network is small, I think there are many of the key leaders in the field are members. I started the XBRLNetwork as a way to make industry [...]
Are US companies ready for XBRL? Are they even thinking about it? Compliance Week polled its readers on the subject a few weeks ago. The results were less than encouraging. Surprisingly, even though large companies will start adopting XBRL probably in a matter of months — they are just as unprepared for the change as small companies.
Whether it is publicly traded companies or privately held companies, people who are charge of management know that most investors and analysts pay more attention to information in the body of financial statements rather than lengthy footnotes and disclosures.
In a nutshell, XBRL (Extensible Business Reporting Language) is the language of finance accounting. The goal of XBRL is to make the analysis and exchange of corporate information more reliable.
What can put business reporting on the fast track, improve audits, integrate data across functional lines, improve transparency and enhance performance analyses? It’s XBRL, the new data standard for reporting business information. XBRL for Dummies shows you what XBRL is… how to use it… and why you should!
