We're pleased to announce that Treasury & OMB have selected XBRL late last week as the common data standard that will be used to exchange government financial information as described in this news article
Interesting article … Largest democratic country in the world (India) is pushing the largest capital markets country in the world (USA) to have public companies disclose not only financial information but non-financial information to better serve both investors and the public. Including both financial and non-financial information is known as "integrated reporting" by public companies
Why is the reporting of non-financial information and the management of non-financial risk becoming so important to investors?
Great article on Blockchain technology, cloud shared public ledgers and how it can be used for state, local and federal government to provide new services to the public. Premise: Blockchain technology can be applied using distributed public record technology that can be directed to a wide...
In honor of Star Wars Day today (“May the 4 th Be With You!”), I thought I would use today as a way to explain the global data standard called XBRL or eXtensible Business Reporting Language in plain language for business professionals. Having worked with the XBRL standard for more than 15...
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Dear TSP Committee Members: Great speech last week from Richard Berner of the US Treasury Office of Financial Reporting at the Financial Regulation Summit: Data Transparency Transformation in Washington, DC on Tuesday, March 24, 2015. In his speech Richard Berner spoke about the need to...
2 Comments - David, thanks for this update. Linking financial information in XBRL format to a legal entity identifier will provide even more value to structured, digital disclosure
Great article from the European Securities Market Authority on what EU public companies must do using the new Inline XBRL Global Data Standard for Better Transparency & Accountability by putting financial and non-financial financial statement info in a machine-readable format. The USA...
The Sustainability Accounting Standards Board has signed a memorandum of understanding with the Institute of Management Accountants to advance the management and disclosure of non-financial information in corporate reports
iXBRL is currently being used to data tag financial information of public companies in the world's capital markets for greater transparency and analysis for the public. We will have to see if this same data tagging and linking information (iXBRL) will be applied to non-financial information companies also disclosure to the capital markets supported and developed by the IMA and other XBRL consortium members
The digital format will allow users such as investors, analysts and auditors to carry out software supported analysis and comparison of large amounts of financial information. Access to annual financial reports for both professional and retail investors is essential for creating robust capital markets across the EU