The Securities and Exchange Commission has finally delivered its mandate—all 206 pages of it—that corporations start filing financial statements using XBRL technology.
Published on Jan. 30, the adopting release still follows the schedule SEC commissioners approved in December: The 500 largest public companies must start XBRL compliance this summer, followed by other large filers in 2010, and all remaining companies in 2011. Most other main points in the rule are also in step with the original proposal, although experts say the final version does contain a few differences that filers should appreciate.
Still, for companies that aren’t yet familiar with ...