| XBRL Is Here!
On May 14th 2008 the Security And Exchange
Commission issued a
proposed rule to gradually mandate the use of
XBRL
(Extensible Business Reporting Language) in the United
States from the end of 2008. 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.
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