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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.

News Image 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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CONTACT INFORMATION

Business Wire
Tom Becktold
Senior Vice President, Marketing
+1-310-820-9473 x 115
thomas.becktold@businesswire.com
or
Michael Becker
Vice President, Global Disclosure and
Financial Reporting Services
+1-212-752-9600
Michael.becker@businesswire.com

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