#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
#31862
This slide show demonstrates the steps to tag a simple income statement using Rivet’s Dragon Tag software.
Phillips, Mary E., Tammy E. Bahmanziari and Robert G. Colvard. Journal of Accountancy (2008). Resources>Presentations>Financial>XBRL
#31858
XBRL: The eXtensible Business Reporting Language 
XBRL is a language for the electronic communication of business and financial data. It provides benefits in the preparation, analysis and communication of business information. It offers cost savings, greater efficiency and improved accuracy and reliability to all those involved in supplying or using financial data. XBRL stands for eXtensible Business Reporting Language. It is one of a family of XML languages which is becoming a standard means of communicating information between businesses and on the internet.
#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
#33920
Return on Investment (ROI) on XBRL
Our initial effort at tagging and furnishing an XBRL document to the SEC consumed approximately 80 hours of an employee’s time. But to adequately evaluate this commitment, it is necessary to understand the scope and context of the effort. The hours included not only the time to tag the underlying document, but also the time to learn how to use the tagging tool, understand the requirements for filing under the SEC’s VFP, create tags that did not exist in the standard taxonomy, and to build a process that would allow the ongoing tagging and filing of documents. Our current effort to tag and file an 8-K earnings release is down to approximately four hours now that the learning curve has been eliminated.
Stantial, John. XBRL.us (2007). Articles>Business Communication>Case Studies>XBRL
#35411
XBRL, Semantic Web Technologies Complement Each Other
At the recent workshop co-organized by W3C and XBRL International on improving access to financial data on the web, a few key issues related to the semantic web took center stage. The goal of the workshop was to identify opportunities and challenges for interactive access to financial data expressed in XBRL and related languages, and the broader opportunities for semantic technologies.
Zaino, Jennifer. Semantic Web (2009). Articles>Information Design>Semantic>XBRL
