The mandate for companies to tag their financial statements using XBRL technology hasn’t yet proven to be the compliance nightmare that many feared. It also hasn’t yet revolutionized investors’ ability to analyze and compare corporate data.
Overall, officials at the Securities and Exchange Commission and others involved with XBRL say they’re pleased with what they’ve seen from the nearly 500 companies that have submitted XBRL-tagged financials so far. Still, others say “interactive data” isn’t yet the game-changer XBRL proponents predicted.
