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 27, 2008 - May 3, 2008
US GAAP Taxonomies 1.0 is available!
XBRL US has made the US GAAP Taxonomies 1.0 has been delivered to the SEC by XBRL US and has been made publicly available here. There is more information available about the taxonomies in a press release by XBRL US.
In addition to the taxonomies themselves also available are a downloadable ZIP archive of all the taxonomies, a preparer's guide, case studies, technical user guide, and an architecture document explaining the taxonomies.
Check this site for additional information relating to this taxonomy.
Charlie
in US GAAP Taxonomy
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MSN Money Central: A revolution for small investors
This is a fragment Fragment of the article on MSN Money Central.
A revolution for small investors
Soon all companies will report financials in a programming language called XBRL that will allow you and me to slice and dice numbers like never before.
By Michael Brush
A few years from now, don't be surprised if some blogger in his boxer shorts brings down the next Enron.
That may seem far-fetched, but hold off on the laughter.
That's because individual investors in the U.S. will soon move another step closer to a brave new world of democratized financial information that will put powerful analytical tools on their desktops.
On May 14, the Securities and Exchange Commission will announce the next steps for making all companies report financials using a software programming language called XBRL.
XBRL will eventually put a far superior version of Wall Street's high-priced tools in the hands of regular investors for free and maybe even help them uncover the next accounting scandal.
XBRL will bring such a revolution to investment analysis that any Sherlock Holmes who X-rays financials for clues on a company's health needs to learn about it -- and push the SEC to make companies adopt it as soon as possible.
Charlie
in General Information
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Gartner: XBRL Will Enhance Corporate Disclosure and Corporate Performance Management
In a research publication issued last week by Gartner titled "XBRL Will Enhance Corporate Disclosure and Corporate Performance Management" (which can be purchased from Gartner here), the value of XBRL to CFOs and CIOs is pointed out.
Gartner says, "Extensible Business Reporting Language is an enabling technology that will significantly change the way financial information is reported, internally and externally. CFOs and CIOs need to understand the impact of XBRL, and plan for its adoption during the next three years."
Charlie
in XBRL General Information
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