Business Wire Hosts Expert Panel For Discussion on XBRL
Representatives from the SEC, XBRL U.S. and Comcast Will Discuss
SEC’s Proposed Mandate Requiring XBRL Filing
LOS ANGELES (Business Wire EON/PRWEB ) November 17, 2008 --
Business Wire this week will present a distinguished panel of XBRL
experts discussing eXtensible Business Reporting Language (XBRL)
and the proposed mandate by the Securities and Exchange Commission (SEC)
that would require publicly traded U.S. companies to adopt XBRL-based
financial reporting. The live webinar, titled “Understanding XBRL and
the SEC’s Proposed Rule,” will take place on Thursday, November 20 at 1
p.m. EST at BusinessWire.com.
Michael Becker, Business Wire’s Vice President, Global Disclosure and
Financial Reporting Services, will moderate the panel. The featured
panelists are:
-
Michelle Savage, Vice President, Communication, XBRL
U.S.
-
David Blaszkowsky, Director, Office of Interactive Disclosure, U.S.
SEC, and
-
Phillip Gaudreau, Manager, Accounting Projects, Comcast Corporation.
XBRL-formatted financial documents are tagged to uniquely identify
individual items within the filing, allowing the data to be easily
searched for online, downloaded into spreadsheets, reorganized in
databases and easily compared and analyzed. Earlier this year, the SEC
officially proposed a mandate which would require publicly traded U.S.
companies to use XBRL to file their financial reports.
A September
national survey of 688 chief financial officers and senior
comptrollers conducted by Grant Thornton found that, while more than
half of CFOs were familiar with XBRL, only two percent of respondents
currently use tagged data in their company’s financial filings. Under
the SEC’s proposed mandate, Fortune 500 companies would be expected to
adopt the format as early as next spring, with other companies phased in
over the next two years.
Business Wire, a longstanding member of the XBRL
International Consortium, provides its clients with value-added
XBRL services to facilitate a seamless transition to the new
business reporting standard.
Business Wire’s free XBRL webinar, “Understanding XBRL and the SEC’s
Proposed Rule” is open to the public:
About Business
Wire
Business Wire, a Berkshire
Hathaway company, is utilized by thousands of member companies and
organizations to transmit their full-text news releases, regulatory
filings, photos and other multimedia content to journalists, news media,
trade publications, institutional and individual investors, financial
information services, regulatory authorities, Internet portals,
information web sites, business-to-business decision-makers and
consumers worldwide. With a news
distribution network spanning 150 countries and 45 languages,
Business Wire's multi-channel delivery network has access to dozens of
international and national news agency networks throughout the Americas,
Europe, Asia, the Middle East and Africa.
The Business Wire news network is powered by its patented
NX high-speed data platform and supports XML, XHTML and XBRL code to
deliver the most sophisticated news file to enhance news release
interactivity, customization and search engine optimization. Business
Wire has 31
bureaus in cities including New York, San Francisco, Los Angeles,
Chicago, Boston, Miami, Paris, Frankfurt, London, Brussels, Tokyo,
Toronto and Sydney with reciprocal offices throughout the world.
Business Wire was founded in 1961.
See the original story at: http://eon.businesswire.com/releases/business_wire/proposed_mandate/prweb1630294.htm
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