cfo.com

cfo tagline

XBRL: What's It Good For?

As public companies strive to make their financial statements XBRL-compliant, questions about the value of doing so remain.

David Rosenbaum, CFO.com | US
July 28, 2011

The challenge is in the data

XBRL is fine as a reporting tool Problem is the quality of the data that it is reporting on Like all the other reporting technologies XBRL needs quality data and there is seldom quality data in organization's ERP systems http://za.linkedin.com/in/drjamesarobertsonerpdoctor

Posted by James Robertson | January 16, 2012 12:39 pm

Great Article

David, I think this is a great article. I think the XBRL benefits will continue to emerge with wider adoption and advanced tools like those incentivized by the XBRL US Challenge. Also, XBRL will only be as valuable as the quality of the underlying data. I wrote a blog recently about incorrect negative values in XBRL and some of the associated impacts to data users. Check it out: http://blog.rivetsoftware.com/2011/08/05/negative-values-in-xbrl-filings/

Posted by Phil Mennona | August 08, 2011 07:00 pm

CFO Publishing Corporation 2009. All rights reserved.