This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

US SEC begins assessment of the benefits of 'tagged data'

  • News default Image

23 Jul 2004

The US Securities and Exchange Commission is assessing the benefits of tagged data and its potential for improving the timeliness and accuracy of financial disclosure and analysis of Commission filings.

The Commission will seek public comment on alternative methods and the costs and benefits associated with tagged data. In addition, the Commission will consider a staff proposal to accept voluntary supplemental filings of financial data using eXtensible Business Reporting Language (XBRL). This voluntary program would enable the Commission staff to further investigate the types of data tagging currently available in the marketplace. The Commission may propose a rule this fall that would, if adopted, establish the voluntary program beginning with the 2004 calendar year-end reporting season.
  • Click for SEC Press Release.
  • Information about XBRL (a system for tagging data) can be found on the XBRL International Website. IASB commercial director Kurt Ramin chairs the XBRL International Steering Committee.
  • An exposure draft dated 15 June 2004 International Financial Reporting Standards (IFRS) General Purpose Financial Reporting for Profit-Oriented Entities (GP) can be found Here.
  • Other XBRL financial reporting taxonomies can be found Here.
  • The 10th XBRL International Conference, Financial Reporting Goes Global: XBRL and IFRS Working Together, will be held 15-17 November 2004 in Brussels. Click for More Information.
  • The European Commission has granted €1,000,000 to accelerate the development and adoption of XBRL in Europe. Press Release (PDF 110k).

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.