Chicago, IL (PRWEB) May 15, 2006
In this Xtalks web conference on June 16, 2006, Corey Booth, CIO, US Securities & Exchange Commission (SEC), discusses the SEC’s initiatives regarding the use of XBRL (eXtensible Business Reporting Language) in the financial reporting process.
Xtalks is pleased to present the Automated Processing of Business Information Using XBRL Tags Web Conference. There is still time to register for at: http://www.xtalks.com/XBRL.ashx
In March 2006 the SEC announced that 17 companies have joined the pilot program to use interactive data in their financial statement filings. They will help the agency explore how Internet based reporting can improve the financial reporting process for investors, intermediaries, the SEC and the companies themselves.
XBRL (eXtensible Business Reporting Language) provides an identifying tag for each individual item of financial data. Computers recognize these tags in any document form and are able to extract, analyze and store the data automatically and present the data in a variety of formats.
XBRL is flexible, handles data in different languages and accounting standards and is adaptable to individual business requirements. Preparers and users alike are benefiting from the use of XBRL in financial reporting.
Benefits of adopting XBRL in financial reporting include: cost savings; improved analysis of information; automation of information gathering-eliminates manual re-entry; a reliable and accurate format for handling data; and more efficient reporting for users of financial data.
XBRL is an important initiative for the SEC. Join Corey Booth, CIO of the SEC as he discusses the efforts the SEC has made to encourage adoption of XBRL and the effect it will have on financial reporting across all sectors.
There is still time to register for free at: http://www.xtalks.com/XBRL.ashx
The web conference is sponsored by UBMatrix, who will host a workshop following the keynote presentation and before the Q&A session.
Registration for the event is currently open at: http://www.xtalks.com/XBRL.ashx
About the Keynote Speaker
Corey Booth was appointed Chief Information Officer of the SEC in January 2004. Booth most recently was the Associate Principal of McKinsey and Company's Business Technology Office in Chicago. As a leader of that consulting practice, Booth focused on information technology, working with a variety of large corporate IT organizations, primarily within the financial services industry. Booth earned his MBA from Stanford University's Graduate School of Business after receiving his BA from Washington University.
UBmatrix offers the industry’s #1 software platform for managing interactive data. For organizations that collect and analyze business operations and financial reporting information, our software empowers them with the benefits of eXtensible Business Reporting Language (XBRL), the most robust and extensible standards-based approach to modeling portable, self-validating data structures. Choosing to leverage industry standard metadata taxonomies or using our applications to build their own, organizations rely upon UBmatrix solutions to produce and collect interactive data. The result: improved efficiency, data quality, and visibility. For more information please visit http://www.ubmatrix.com/
Xtalks (recently featured in the London Times article Conference call that spans the globe) brings industry experts to executives’ desktops around the world in a web-based information network that provides insight into breaking business issues through interactive digital web conferences. By leveraging the best of hi-speed Internet and telecom technology, Xtalks provides a fantastic forum for highly interactive communication. Xtalks web conferences allow anyone with interest in a particular topic to participate in a web meeting by synchronizing their desktop computer and phone alongside industry experts. Xtalks is part of The Honeycomb Worldwide Group of Companies (http://www.honeycombworldwide.com), including Honeycomb Connect, a leader in executive networking, event management, web conferencing, publishing, and digital media with offices in North America and Europe.
“Xtalks' webinar brought together the top end users, technology vendors, and thinkers in the space,” says Ed Hess, Editor of Integrated Solutions Magazine, referring to a previous Xtalks’ event. “As a media sponsor of the event, we were ecstatic to see the level of commitment and execution that Xtalks showed in making the event a huge success. It was informative and filled with new and fresh insights. The Q&A session was highly interactive and addressed a range of issues. In terms of online events, it set a standard that others will have trouble matching."
For more information on this conference or Xtalks in general, or to enquire about speaking opportunities or sponsoring future events, visit http://www.xtalks.com or contact Karen Anderson, Chief Marketing Officer, at phone: 312-977-1166 x1209.
Register for free at: http://www.xtalks.com/XBRL.ashx