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XBRL- An Opportunity for Change

Sponsored By webfilings

Compliance & Governance > SEC
Finance & Risk Management

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Take the XBRL reporting mandate beyond mere compliance. In this white paper, we examine how you can maximize your XBRL benefit.

Public companies, in general, are not embracing the greater opportunity that the SEC's recent XBRL compliance mandate provides for making changes to their financial reports. This is a unique opportunity to not only perform the required translation of financial reports into the structured Interactive Data representation of XBRL, but also to leverage the process and maximize the potential benefits XBRL brings to financial reporting.

Over the last fifty years, SEC financial reporting has evolved to a diverse yet familiar paper-based reporting model. For many, attempting to make XBRL reports look like current visual reports has seemingly eased the transition to the Interactive Data mandate. However, this approach also stifles the potential for using the XBRL transition to enable substantial quality and usability improvements to financial reports.
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Released: April 18, 2012
Length: 3 pages
Format: PDF (158 kb)
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