BLOG: Digital Financial Reporting
This is a blog for information relating to digital financial reporting. This blog is basically my "lab notebook" for experimenting and learning about XBRL-based digital financial reporting. This is my brain storming platform. This is where I think out loud (i.e. publicly) about digital financial reporting. This information is for innovators and early adopters who are ushering in a new era of accounting, reporting, auditing, and analysis in a digital environment.
Much of the information contained in this blog is synthasized, summarized, condensed, better organized and articulated in my book XBRL for Dummies and in the chapters of Intelligent XBRL-based Digital Financial Reporting. If you have any questions, feel free to contact me.
Entries from April 6, 2008 - April 12, 2008
SEC Makes Mutual Fund Reader Available
Well, the SEC continues to pump out software. Today they announced the availability of a mutual fund reader. See their press release here.
The press release has a link to the mutual fund reader. Or, you can go directly to the reader using the link here.
The fundamental point I see is that when filings are made on paper or using HTML or other presentation oriented electronic format, it is impossible to reuse the information unless the information you want to reuse is rekeyed or you glean some of the information, as Edgar Online does, using costly parsing algorithms. But, if the filings are in XBRL then users can still see the filing as they see it today (or similar); or, they can see it however they want without rekeying any information.
Sure, you have to write software to get at the information. But you CAN get at the information with software, that is the point. Accurately, reliably, automatically. The ATOM feeds let you know information exists.
What more could one want? All I would ask for is that there is consistency between how companies make use of the XBRL.
Charlie
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