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DisclosureNet: Common XBRL Misconceptions

DisclosureNet published a very nice presentation titles Common XBRL Misconceptions.  Here is a summary of those misconceptions. Check out the presentation as it is nicely done and provides necessary details for understanding the XBRL misconceptions and the reality:

  • XBRL Misconception #1: When unsure about which standard tag to use, create an extension tag.
  • XBRL Misconception #2: Outsourcing XBRL tagging is the best option.
  • XBRL Misconception #3: XBRL makes companies too transparent.
  • XBRL Misconception #4: SEC penalties for XBRL non-compliance aren’t a concern.

People are starting to recognize that the crackdown is coming.

Posted on Friday, June 14, 2013 at 08:04AM by Registered CommenterCharlie | CommentsPost a Comment

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