XBRL 'taxonomy' for US GAAP has been completed
27 Sep 2007
The US Securities and Exchange Commission has announced that all work on developing XBRL data tags for the entire system of US generally accepted accounting principles has been completed.
This will enable companies to more easily encode their financial statements in the XBRL language. XBRL makes the analysis and exchange of corporate financial information easier and more reliable by allowing data to be extracted and processed automatically by XBRL-aware applications. Click for SEC Press Release (PDF 34k).
