Mandatory Use of XBRL May Bring Benefits to BI Reporting: TDWI

XBRL is becoming mandatory for companies filing with the SEC, prompting a new wave of interest in this technology. Many companies that have implemented XBRL so far for regulatory purposes have adopted it at the end point of the reporting supply chain, meaning they export their financial statements into spreadsheets and tag them there. This of course means that XBRL adoption becomes an add-on business process, with a single use objective. However, a research study published by the CICA in 2007 - Interactive Data: Incorporating XBRL into Accounting Information Systems - (available through www.cica.ca) argued for a deeper implementation in the system - one that would then have multiple uses, which is where XBRL will shine. XBRL GL was put forward as a key technology to implement that approach. In this article, this same idea is explored and supported, pointing out that the benefits to the reporting process could be considerable. Mandatory Use of XBRL May Bring Benefits to BI Reporting: TDWI