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 July 6, 2008 - July 12, 2008
One of the coolest and most useful application features I have seen in a long time
This is one of the coolest and most useful features I have seen in a LONG time!
Check this out. Click on this link, and it will take you directly to a US GAAP Taxonomy concept "Cash" within a library of taxonomies. Now, this link is a bit of a mouthful, but you can use http://www.tinyurl.com to convert the link to this.
Hat's off to CoreFiling for this feature. This goes to show that software vendors may be getting close to being over the "hump" where they have been investing in XBRL infrastructure which is needed to make use of XBRL, and we are moving into an era of business user features, showing the true power of XBRL.
I mean, really think about this. Imagine being able to link from one vendor's software application into a different vendor's software application, just because of XBRL. Imagine an investor looking at a financial statement using interactive data being able to link into the taxonomy library, or a different library, or perhaps they could choose between several different renderings of the taxonomy, based on what they wanted to achieve at the time; directly from the financial statement. The possibilities are endless!
Charlie
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Library of Taxonomies
CoreFilings has put together somewhat of a financial reporting taxonomy library. The library has a number of different taxonomies including IFRS, and US GAAP. The library can be found here.
The tool is useful for taking a look at different taxonomies.
Note that the US GAAP Taxonomies can be found here. This appears to be a subset of the full library.
Charlie
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