Attention corporate executives — don’t shrug this off. XBRL is going to revolutionize accounting and corporate [financial] reporting.
Standard dictionaries (“taxonomies”) are in development by a number of cooperating agencies with SEC in the vanguard: The Commission is investing more than $50 million to make XBRL a reality in the coming months.
Watch for early December release of important information for your firm (if you are an issuer) — this will be a powerful movement for dramatic change in financial reporting, financial analysis and other aspects of the capital market in 2008 and beyond.
Check out the SEC Web site and the XBRL USA (not for profit arm of the global XBRL coalition in the USA) for details.
The editors are assembling a package of XBRL news, commentary and research for you (as a “Hot Topic”) as the SEC announcements and provider announcements roll on…
Editor – AC