What CFOs Need to Know about XBRL

Sponsored By UBmatrix

Topics:

Compliance & Governance > Investor Relations

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Abstract:

XBRL is quickly becoming an indomitable force. "[It has] the potential to slash hours of waste, cost, and inefficiency-not just for users of financial data, but for the companies that prepare it as well," Christopher Cox, chairman of the US Securities and Exchange Commission said in a recent public statement. And the SEC has proposed rules that will require the filing of XBRL documents.

XBRL is already changing how finance departments do their jobs. But some CFOs may be asking themselves, why the need for change? Financial reporting was built for paper. But today we're in a digital age that requires a digital solution-a solution that's faster, better, cheaper. In short, XBRL will do for financial reporting what digital cameras did for photography.

So what does this all mean for CFOs? What can XBRL do for your organization, and how can you take advantage of it? We've put together the following document that answers most of your pressing questions about XBRL-and puts you on the path to success.

DETAILS

Sponsored by: UBmatrix

Posted: August 07, 2008

Length: 10 pages

Format: PDF (126 kb)

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