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TechTalk Blog - US SEC Commissioner Mike Piwowar Urges Use of In-Line XBRL for Financial Statement Disclosure

His remarks included the following statements from his speech: “I have personally observed software demonstrations that run interactive data filed with the Commission through a series of filters selected by the user







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TechTalk Blog -- NEW LEGISLATION INTRODUCED IN CONGRESS TO MOVE XBRL ACROSS ALL US FEDERAL FINANCIAL AGENCIES FOR BUSINESS REPORTING

The Treasury Department would also adopt data standards that reach across agencies and the Securities and Exchange Commission would replace its current financial statement reporting format with a single XBRL filing


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TechTalk Blog -- 86% of Accounting Tasks Can Be Automated With Current Technology -- Management Accountants Need to Review New Technologies

Sixty percent of financial statement data is already being consumed electronically , and this figure will continue to grow, according to International Accounting Standards Board Chairman, Hans Hoogervorst. BUT the SPECIFIC data elements reported and consumed by the capital markets is not ASSURED by the auditor or the management accountant reporting this information to the CFO – the FULL paper report is ASSURED but not the specific DATA ELEMENT reported in the financial statement

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TechTalk Blog - European Securities & Market Authority (ESMA) Provides Instruction on Using Inline XBRL for Public Company 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

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TechTalk Blog: XBRL and Star Wars' C-3PO

The same thing happens with XBRL formatted data; XBRL attaches context to each piece of information, such as the line item it represents in the financial statement (e.g