The Securities and Exchange Commission has yet to release its formal proposal that companies start adopting XBRL technology for financial reports starting as soon as next year—so Corporate America is engaging in some good old rampant speculation until then.
The SEC took its first step toward an XBRL mandate on May 14 when it voted to propose a rule phasing in the technology by 2011. Details of the proposing release, which will be subject to a 60-day comment period, are expected to be posted to the SEC’s Website shortly.
XBRL (eXtensible Business Reporting Language) is a technology that “tags” financial data so ...