#31864
Financial execs may not appreciate it yet, but this new data-tagging system should speed the flow of info and create new ways to analyze it.
Stone, Amey. BusinessWeek (2005). Articles>Business Communication>Financial>XBRL
#31860
Improving Financial Analysis and Reporting Using XBRL and the Microsoft Office System
The process of financial reporting and analysis can represent a huge cost for many companies. For example, the preparation of quarterly statements for publicly traded companies consumes the majority of a finance department’s resources during the reporting period. Likewise, it is not uncommon for equity analysts to spend up to one-third of their time entering data into spreadsheet models and verifying that data for accuracy.
#31861
XBRL is reinventing how we transmit and use data in business. XBRL is not just for SEC companies: Small businesses and practitioners alike could soon be using XBRL to submit information to bankers, the IRS, and other agencies. XBRL will become a part of every CPA’s practice.
Phillips, Mary E., Tammy E. Bahmanziari and Robert G. Colvard. Journal of Accountancy (2008). Articles>Business Communication>Financial>XBRL
#31859
XBRL: The Language of Finance and Accounting
The eXtensible Business Reporting Language (XBRL) is a language for capturing financial information throughout a business' information processes that will eventually be reported to shareholders, banks, regulators, and other parties. The goal of XBRL is to make the analysis and exchange of corporate information more reliable and easier to facilitate.
Waldt, Dale. XML.com (2004). Articles>Business Communication>Financial>XBRL
