Financial Reporting Developments at the SEC – How the emerging use of XBRL will impact your company
XBRL Canada is a non-profit consortium formed to foster and encourage the use of XBRL in Canada. XBRL is an internationally recognized standard for electronic business and financial reporting.
Here's an article on the need for creation of unstructured data for investment purposes.
Freely transportable and usable data is becoming an increasingly important and valuable commodity in business. The advent of data monetization has provided an economic framework to guide the collection and use of data and offers a basis for its valuation. Data can be monetized through its sale for cash, for other data, or for other monetized assets. Certainly one of the major value components of data is its transportability and platform independence, which makes its more readily usable for its intended purposes. Here's a recent article on the subject.
A recent presentation at the XBRL International Conference in Dublin highlighted major implementations of XBRL in numerous countries. The data provides striking evidence of the growing role of XBRL around the world, particularly in its use by governments and regulators.