The SEC's Mandatory Interactive Data Format

Law360, New York (May 23, 2008, 12:00 AM EDT) -- On May 14, 2008, the Securities and Exchange Commission proposed a requirement that corporate financial statement information be filed with the SEC in an interactive data format known as XBRL (short for extensible business reporting language).

The purpose of XBRL is to tag financial data so that it is machine readable, permitting individual financial statement items to be searched on the Internet, downloaded into spreadsheets and reorganized in databases.

This will enable investors, analysts and journalists to easily generate customized reports and comparisons containing just the...
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