XBRL is an emerging standard for filing public financial disclosure data. On December 17, 2008, the U.S. Securities and Exchange Commission (SEC) approved a final rule that will make the use of interactive data (XBRL) mandatory for all U.S. public companies over a three - year period. Public companies with a worlwide public float greater than $5 billion must begin filing XBRL documents starting with fiscal period on or after June 15, 2009. All other accelerated filters must do so for their first fiscal period on or after June 15, 2010, and all filers must do so for their first fiscal period on or after June 15, 2011. Mutual funds must begin tagging key information, including risks, fees and performance, by January 2011. A portion of the SEC website is dedicated to XBRL.
XBRL (eXtensible Business Reporting Language) is an XML-based language for the electronic communication of business and financial data. XML (eXtensible Markup Language) is a standard for the electronic exchange of data between businesses and on the internet. XML applies identifying tags to structured data, making it easy to index and search electronic files for specific pieces of information.
Integreon’s team of CPAs and accounting experts are completely up-to-date with all the latest XBRL developments. Integreon can provide a complete end-to-end XBRL solution with services ranging from expert consulting, mapping, tagging and validating to compliant filing with the SEC – all managed by Integreon. We can assist you in tagging both your financial and non-financial documents, as well as filing them with the SEC.
Read more about XBRL, including specifications and taxonomies at XBRL International.