Meaning evidence based data is not in a machine-readable format using one common accounting standard for government financial reporting to provide better data analytics to make evidenced based decisions
Great article in Accounting Today about the status of XBRL adoption worldwide and its use to reduce business and regulatory reporting burdens (using Standard Business Reporting) and enhance analytics because tagged data is in a machine-readable structured format as discussed by John Turner, CEO of XBRL International
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 Securities & Exchange Commission is following the same procedure and is now allowing foreign filers to the EDGAR System to submit IFRS if those companies are using Inline XBRL
The $3.8 Trillion Municipal Bond Marketplace What if the data hosted by the Municipal Securities Rule Making Board (the principal regulator of the $3.8 trillion municipal securities market) on the Electronic Municipal Market Access Website EMMA SYSTEM could be in a machine-readable format like XBRL and also have XBRL data assurance to protect both taxpayers and investors?
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Will the disclosed data be distributed in a machine-readable data format like XBRL for instant analysis and comparison like the XBRL data that is being used for financial disclosure by the US SEC
They have create XBRL structured data format that entities can use to get accurate information using the Internet to external parties for better data analytics… Like shifting billions of investment dollars to entities that are providing productive ventures to promote the public benefit – CAPITAL MARKETS OPTIMIZATION using GOOD, QUALITY DATA FOR INVESTMENT DECISIONS IN A MACHINE-READABLE STRUCTURED DATA FORMAT