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Article: The case for SEC use of XBRL.(XBRL)(Extentionable Business Reporting Language)(United States. Securities and Exchange Commission)

Article from:
Strategic Finance
Article date:
June 1, 2004
Author:
Copyright

CONVENTIONAL WISDOM IN THE EXTENSIBLE Business Reporting Language (XBRL) circles is that the Securities & Exchange Commission (SEC) will wait for the marketplace to adopt XBRL before requiring companies to send their SEC filings in the XBRL format. It's thought that the SEC would rather let market forces drive the widespread acceptance of XBRL than impose what may be undue compliance burdens on the financial community. What now seems a possibility, however, is that the SEC may be willing to look into the savings it could potentially realize in both time and money by adopting XBRL.

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