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FASB Links GAAP With XBRL Through Codification

Tammy Whitehouse | October 14, 2009

The marriage of rules and data is beginning to take shape as the Accounting Standards Codification now includes some links to eXtensible Business Reporting Language (XBRL).

The Financial Accounting Standards Board has added some functionality to the Codification, which is the official electronic rulebook for all U.S. Generally Accepted Accounting Principles, to link accounting rules to XBRL tags. XBRL is the electronic format in which companies increasingly report their financial results. FASB says the Codification now provides a list of all XBRL elements that contain an electronic link to a paragraph in the Codification, linking complete XBRL element names together with all...

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