XBRL Emerges as Key Standard in Business Reporting

Kohen, Sharyn; Penler, Paul
October 2004
Bank Technology News;Oct2004, Vol. 17 Issue 10, p54
Trade Publication
The article reports on the announcement made by the U.S. Securities and Exchange Commission (SEC) that it is assessing for registrant submissions the benefits of a new data format XBRL, the acronym for extensible business reporting language. XBRL, the financial and operational business-reporting offshoot of the Extensible Markup Language is a freely licensable open-technology standard emerging as a leading practice in many business-reporting environments. The SEC is considering a staff proposal to launch a pilot program in which companies will submit voluntary filings of financial data using XBRL, beginning with the 2004 calendar-year-end reporting season.


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