XBRL Is Here!
On 17th
2008 the Security And Exchange Commission
approved a rule to gradually mandate the use of
XBRL (Extensible
Business Reporting Language) in the United States from mid
2009.
This is a significant milestone in the global trend of XBRL adoption,
even though not the only or the first one: millions of companies
worldwide are already reporting their financial data in XBRL today.
Still, the use of XBRL for financial reporting is only the tip of the iceberg.
Its real value proposition for companies is not as yet another format to
generate external reports and to fulfill regulatory mandates. XBRL enables
dramatic cost reductions in crucial corporate processes like data integration,
business intelligence, internal and external auditing, IFRS convergence.
Visit our XBRL GL
Use Cases page to learn how XBRL Global Ledger and XBRL for financial
reporting can help your company achieve those cost reductions while getting
ready to fulfill your regulatory reporting requirements.
Then, check out our Get Started
page for an overview of how to implement XBRL in your organization today, and
see live examples of what a standards-based approach enables in terms of
data access and
data transformation.
Finally, try the Convergence
Assistant, a web based application that supports IFRS convergence as well as
any process where reconciliation of end reporting with the underlying data is
key.
|
