SEC Moves to Facilitate XBRL Analysis
The Securities and Exchange Commission has launched a pilot program aimed at simplifying investor analysis and comparisons of public company financial statement data using Extensible Business Reporting Language, or XBRL, and other types of data.
Under the new program, data that companies provide in structured formats will be combined and organized into structured data sets and posted for bulk downloads on the SEC’s website for use by investors and academics. The data sets initially will contain financial statement data from XBRL exhibits as filed with the SEC. They will be expanded in 2015 to include data in footnotes to the financial statements. Read more on Accounting Today.