The XBRL International Conference for 2016 – DATA AMPLIFIED – will be held in Singapore on November 8 – 10. Several new technologies and trends will be the focus of discussion, including the XBRL implications of the emerging blockchain and distributed ledger technologies. For more, check this link – https://www.xbrl.org/events/data-amplified-2016/ Reserve the date now!
The Swedish Standards Institute has approved XBRL as a national standard for electronic reporting and exchange of financial information between organizations in that country. The standard – SS 40100:2015 – specifies basic requirements to enable the concept of harmonization, transparency, accessibility and quality of taxonomies for financial information. The Swedish standard was developed by Skatteverket […]
Approximately 25,000 companies now file with their securities regulators using XBRL – most of which are in the US, Japan, China and India. This is only part of the story, as several other countries require the use of XBRL for securities filings with regulators and other organizations. For example, some 10,000 companies file XBRL in […]
The Data Coalition has recently released a report in which it recommends to the SEC that structured data be used for all of its filings. The Coalition points out that a system of disclosure has evolved under existing legislation and under a paper regime in which numerous documents are required to be filed by registrants. […]
A recent article by Mike Willis, of the SEC, formerly of PWC, is remarkable in its insight and relevance. Mr Willis points out that the current disclosures are outdated and rooted in the paper age. He suggest a program of “investor testing” to see what information they want in order to make decisions. He points […]
XBRL Canada is dedicated to the improvement of business and financial reporting in Canada, an objective shared by its prime sponsor, Chartered Professional Accountants of Canada (CPA Canada).
We believe that society has changed to a data oriented society, one in which data is becoming available in unprecedented forms and quantities; one where more and more detailed data is being disclosed by companies; one where data ranges from detailed data to big data.
Some of the data available is structured and some unstructured. We believe that structured data is usually more useful to investors and others. XBRL is a form of structured data that is designed specifically for business and financial reporting, is based on an internationally recognized standard, is widely used around the world. As such it offers the best alternative for the presentation of data for investors and other stakeholders and for filing of information with governments under Standard Business Reporting (SBR). Most of the G20 countries are using XBRL in one form or another. Several have adopted SBR.