Date Posted: 5/6/2009
Accounting technology is SEC-approved, so now what?
If you are in charge of financial reporting at a public company, you likely are aware that XBRL will impact you. XBRL stands for “eXtensible Business Reporting Language” and is a technology that produces interactive data through unique computer-readable “tags” that function like bar codes to the financial statements and related footnotes. On December 17, 2008, the Securities and Exchange Commission (SEC) gave approval of the technology, although the final rule is yet to be published. We now have greater clarity on who, how, and when to implement it, including the sticky issues of web publishing and liability.
Source Website: http://wistechnology.com/articles/5442/
Author Contact:
Jerry Norton
Candela Solutions, LLC,
Email: jnorton@candelasolutions.com
Website: http://www.candelasolutions.com/
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