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:
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Business Wire was founded in 1961.
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