Wednesday, May 21, 2014

XBRL for Other Forms

by: Michael Castro, XBRL Production Manager
CompSci Resources, LLC

The introduction of XBRL has not only improved transparency, but also provided a way for investors to more efficiently process and use corporate information. While it has been extremely useful, more information should be provided in the specification so that investors have even more transparency and information. Companies file a lot more than just their quarterly statements to communicate their earnings to potential investors. In order to more fully realize the benefits of XBRL, more United States Securities and Exchange Commission (SEC) forms should be included in the mandate. Below, I outline three examples of commonly filed financial forms that companies should tag in XBRL to provide more complete information to investors: