XBRL Gets Real As Standard For Financial Reporting

SEC Chairman William H. Donaldson urged all companies reporting to the agency to adopt the Extensible Business Reporting Language format.

By Doug Henschen Courtesy of Intelligent Enterprise

XBRL (Extensible Business Reporting Language) is fast moving from the vision phase to a practiced global standard, and it's no longer a question of if but when it will be mandated by agencies including the SEC (Securities and Exchange Commission). This much was clear at the 11th XBRL International Conference, held last week in Boston, at which SEC Chairman William H. Donaldson urged all companies reporting to the agency to adopt the XML-based format.

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