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HOT TOPIC: 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

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Latest on XBRL Mark Up Language for Corporate Reporting


November 24, 2009 More Progress, Fewer Errors on XBRL Filings

Source:Compliance Week

The mandate for companies to tag their financial statements using XBRL technology hasn’t yet proven to be the compliance nightmare that many feared. It also hasn’t yet revolutionized investors’ ability to analyze and compare...

November 20, 2009 Panelists Advise Companies to Take Responsibility for XBRL Tagging—Even When Outsourcing

Source:Journal of Accountancy

When reporting financials in XBRL, companies need to take responsibility by documenting the reasons items are tagged the way they are and allocating ample time for management review—even if they outsource the data tagging to a...

November 19, 2009 NIRI chief cautious on XBRL progress

Source:Cross Border

Leading adopters of XBRL assembled at the XBRL US conference in New York today to discuss future developments and progress to date.

November 18, 2009 EDGAR Online Completes 1,000th XBRL Conversion and Extends Its Lead in XBRL Filings

Source:PR Newswire

EDGAR® Online, Inc. ( EDGR) announced today that it has completed 148 error-free XBRL filings to date this quarter -- nearly two times the volume of its next closest competitor. The Company also announced the commercial...

November 13, 2009 SEC XBRL Mandate – Level IV Filing Guidance for the CFO

Source:Business Finance

The SEC has mandated that beginning with the second year of XBRL filings, organizations must tag footnotes using four different levels of detail, yet most companies don’t understand the implications of this mandate. Join this...

October 31, 2009 Asset Managers Endorse Use of XBRL for Corporate Actions

Source:Securities Investors

The corporate actions committee of the Asset Managers Forum has thrown its weight behind the efforts of Depository Trust & Clearing Corp. (DTCC), and Swift to promote the use by issuers of the extensible business reporting...

October 30, 2009 XBRL US National Conference, Nov. 17-18, to Feature XBRL Reporting Essentials for Financial Executives

Source:Reuters

XBRL US, the nonprofit consortium for XML business reporting, announced that its national conference, "XBRL Financial Reporting: Advancing Transparency, Transforming the Dialogue" to be held on November 17-18, 2009 at the...

October 29, 2009 71% Of Senior Financial Executives Say That FASB Should Set U.S. Accounting Standards, Not IASB or U.S. Congress

Source:Business Wire

In a national survey of U.S. CFOs and senior comptrollers conducted by Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd, the majority (71%) believe that the Financial Accounting Standards Board...

October 21, 2009 HMRC criticised over XBRL by accountants

Source:Accountancy Age

HMRC's introduction of XBRL and online filing is impossible to meet warns accountants in practice institute. The institute of certified practicing accountants has warned that the government compulsory move to online tax filing by...

October 16, 2009 FASB Links GAAP With XBRL Through Codification

Source:Compliance Week

The marriage of rules and data is beginning to take shape as the Accounting Standards Codification now includes some links to eXtensible Business Reporting Language (XBRL).

Displaying results 21 to 30 out of 165
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