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Updated: 14 weeks 14 hours ago

Survey Says Most Companies Start XBRL Prep Early

January 21, 2010 - 2:49pm
Critics weren't so sure it would add much value, but the SEC ended up adopting an XBRL reporting requirement late in 2008. As a result, public companies of all sizes have begun or plan to report their financial data to the regulator using XBRL. The largest companies began filing XBRL-tagged data for fiscal periods ending on or after June 15, 2009, and the remaining companies are being "phased in" over the next year and a half, according to the SEC.

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Categories: XBRL News

Embedding Intelligence Into Your XBRL Tagging Methodology

January 21, 2010 - 2:21pm
The SEC is allowing companies to ease into compliance, laying out a two-phase mandate. During the first year, only the face of the financials must be tagged with XBRL, necessitating anywhere from 300 to 500 discrete XBRL tags. But in year two, that number increases almost exponentially, requiring anywhere from 2,000 to 4,000 discrete tags, depending upon your unique business environment.

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Categories: XBRL News

Top 10 Tips for XBRL Compliance in 2010

January 21, 2010 - 2:13pm
The first round of XBRL-based financial filings has already begun. The largest public companies filed their first financial statements in June of 2009. Many more will follow this June, and by June of 2011 all public companies will be required to tag their financial reports with XBRL meta-data prior to filing with the SEC.

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Categories: XBRL News

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About XBRLSpy

Diane Mueller is the founder of XBRLSpy Research Inc. She is an XBRL Evangelist, and a XBRL Implementation Strategist. Currently serves on the XBRL International Steering Committee and Best Practices Board, and chairs the Technical Working Group on Rendering responsible for the Inline XBRL Specification. She is a frequent commentator and lecturer on Financial Compliance, XML Standards and Semantic Web technologies. Read more..

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