Thursday, November 21, 2013

The State of XBRL: Asia & Beyond...

by: Cody Potter, Analyst

Having previously discussed the current state of XBRL in the United States, as well as Europe, we will wrap up the conversation by focusing on XBRL developments in Asia and the rest of the globe.

XBRL has been prevalent in capital markets in China, Japan, and South Korea for the better part of the past decade. As India, Indonesia and similar, rapidly emergent nations grapple with the growth of their financial infrastructure, XBRL will surely continue to be used in innovative ways in Asia.   

Thursday, November 7, 2013

XBRL: Amending Extensions

CompSci Resources, LLC

In 2009, the Securities and Exchange Commission (SEC) introduced eXtensible Business Reporting Language (XBRL) to, along with other goals, help standardize financial reporting. Included in this language is a base taxonomy, which can be amended using extension concepts and extension dimensions.

In my last blog, “Extending Taxonomies”, I discussed the value that extensions bring the electronic filing world, as well as some of the possible complications. The extension taxonomy is necessary and valuable to help explain industry-specific ideas, company-specific approaches to filing, and other filer accounting nuances.

However, improper utilization or overuse of extensions carries negative implications for both filers and investors. In this blog I will discuss some possible ways to address the potential complications.