Federal Securities Law Source

Tag Archives: XBRL

Proposed Data Tag Rule

The SEC has released its 143-page proposed rule regarding data tagging of financial statements, including over 100 questions designed to prompt comments on or before August 1, 2008. Data tagging of financial statements using eXtensible Business Reporting Language (XBRL) is expected to dramatically simplify how analysts, investors, and others compare the financial statements of publicly-traded … Continue Reading

SEC Unanimously Approves Proposed Data Tag Rule

On Wednesday the SEC unanimously voted to propose a rule that calls for companies to report their financial data using interactive data tags that uniquely identify individual financial statement items. The data tags are often referred to as extensible business reporting language (XBRL). The data tags allow the information in financial statements to be more … Continue Reading

Global Interactive Data Push

The SEC announced today that Japan, China, Korea, Canada, Israel, and Australia are all on board with implementing interactive data requirements for financial reporting. SEC Chairman Christopher Cox recently met with representatives from the countries to discuss data tagging of financial reports using XBRL (Extensible Business Reporting Language). Data tagging of financial materials is the process … Continue Reading