In the SEC’s Progress Report on Improving Financial Reporting, released today (please see link below to the complete report) the SEC recommends “ … a gradual phase-in of interactive disclosure technology (i.e., XBRL-tagging) to facilitate the ability of investors to more easily access comparative arrays of company information, while minimizing the burdens on preparers (especially smaller companies). A phase-in approach would allow for enhanced understanding of the technology, proven use of the new XBRL U.S. GAAP Taxonomy, and further development of tagging and rendering software.”
There is a whole section in the document about XBRL…an interesting read
http://www.sec.gov/about/offices/oca/acifr/acifr-pr-021408-final.pdf
posted by Gerald Trites @ 7:42 am
1 comments
1 Comments:
It's worth noting that this is not the SEC's progress report but comes from an advisory committee made up of people from outside the commission. The recommendations are non-binding to the SEC and John White, Director Division of Corporate Finance has indicated that the SEC may move more aggressively.
http://www2.financialexecutives.org/blog/permanent.cfm?post_id=448
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