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XBRL - Extensible Business Reporting Language, xbrl business reporting, xbrl news, xbrl article discussion, Tool – Accountability Central

XBRL – INTERACTIVE FINANCIAL REPORTING IS HERE!

Are you ready?  XBRL is almost here…interactive data could fundamentally change corporate financial reporting, financial research and analysis, and investors’ views of companies they own

SEC invests $50+ million in effort to develop standards;  XBRL US, Inc. guiding USA efforts to broad issuer adoption

XBRL –it’s  eXtensible Business Reporting Language

If you have not yet learned about XBRL, our advice is: do it quick!  The use of XBRL as a powerful analytical tool for analysts, investors and others is coming our way.

XBRL is going to be widely used in non-USA capital markets countries and regions – in the EU, for example, and in Japan – and recently, a number of US issuers have been voluntarily using XBRL for reporting, and more analysts and investors are looking to interactive data to analyze corporate business and finances in great detail.

The interactive data standard in the news today is XBRL – eXtensible Business Reporting Language -- a powerful, global technology standard for how data is created, distributed and analyzed. XBRL has been adopted for EDGAR e-filings on a voluntary basis by a number of well-known issuers including 3M Company, Dow, General Electric, Lockheed Martin, Microsoft, PepsiCo, and United Technologies.  As use of XBRL becomes more widespread, demand for adoption is increasing with investors, analysts, and other data users looking for more issuers to adopt the standard. 

Could XBRL be mandated?  Stay Tuned – the SEC is on the case!

To read the full introduction to XBRL click here

 

 


Latest on XBRL Mark Up Language for Corporate Reporting

February 12, 2013 FASB Issues XBRL Implementation Guide for Subsequent Events

Source: HeraldOnline

The Financial Accounting Standards Board (FASB) recently issued its U.S. GAAP Financial Reporting Taxonomy Implementation Guide—Subsequent Events. The guide is the first in a series of XBRL Implementation Guides, which are...

January 25, 2013 SEC-Mandated XBRL Data at Risk of Being Irrelevant to Investors and Analysts

Source: Science Daily

In 2009, the Securities and Exchange Commission mandated that public companies submit portions of annual (10-K) and quarterly (10-Q) reports -- in a digitized format known as eXtensible Business Reporting Language (XBRL). The...

January 25, 2013 The business of corporate social responsibility

Source: BizCommunity.com

Ever since the dawn of the industrial age, debate has raged over whether or not companies carry a responsibility solely to make profit, or whether they have a responsibility to the society from which they generate a profit. As a...

January 15, 2013 Many CFOs Moving to Insource XBRL

Source: CFO.com

Not many CFOs may actually enjoy the process of filing their companies' financials by way of eXtensible Business Reporting Language (XBRL). But many have concluded it’s a job best done within the walls of one’s own company,...

December 12, 2012 Boardroom Diversity Is Good Corporate Governance

Source: American Banker

In her article "How to Get More Women in Banks’ Senior Ranks," American Banker's Editor at Large Barbara Rehm concludes that one of the fundamental reasons why we don't see more women in "banking's inner circles" is because they...

December 11, 2012 SEC XBRL Risk/Return Filings Available on Day 1

Source: Sacxramento Bee

The Securities and Exchange Commission ("SEC") has for two years required Mutual Fund filers to include an XBRL* version of their Risk/Return information within a 15-day grace period. Historically, the grace period was deemed...

November 30, 2012 Govt proposes mandatory automated reporting

Source: Financial Review

The federal government has proposed that the adoption of a software language to automate the lodgement of finance statements to ASIC online be mandatory as a voluntary scheme has failed. Standardised Business Reporting allows...

November 14, 2012 Companies Grow Weary of XBRL

Source: CFO Journal

Corporate finance departments are growing more frustrated with rules that require them to put computer-readable data tags on each item in their financial statements, as they say the effort has not proven useful internally or...

November 5, 2012 Ushering in tax accounting standards

Source: The Hindu Business Line

To reduce tax-related litigation and clarify the tax impact arising from convergence to International Financial Reporting Standards (IFRS), the Central Board of Direct Taxes shall issue guidelines in the form of Tax Accounting...

October 24, 2012 SEC No Closer to IFRS Taxonomy Approval for XBRL

Source: Compliance Week

More than a year after all U.S. publicly traded companies were required to provide their financial statements formatted in XBRL, the Securities and Exchange Commission still hasn't approved a taxonomy for use by companies that...

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