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Preparing Yourself for the XBRL Wave

Colleen Cunningham | February 26, 2008

Once upon a time, I was a young auditor dutifully carrying around my audit bag filled with hand-written green ledger sheets (written with my Pentel, of course). I got on planes to Washington, D.C., to deliver filings to the Securities and Exchange Commission on their due date and walked across New York City to give a client some much-needed document.

This was before personal computers, cell phones, and fax machines were the norm, let alone the ability to send documents over the Internet. Think about how productive we have become due to the advance of technology over the last 25 years or so. Most information today moves digitally. Whenever I need information, the first thing I do is go to the Internet.

Another fast-moving technology is approaching, one that could dramatically improve the reporting and analysis of financial statements. XBRL, eXtensible Business Reporting Language,...

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