“…the hotel ballroom full of corporate finance professionals erupted into laughter.” (XBRL!)

A very straight-forward article by Emily Chasan, Senior Editor, of the WSJ’s CFO Journal regarding corporate issuers view on XBRL titled “Companies Grow Weary of XBRL.”  Read article here.

Needless to say, the companies are not big fans of XBRL. We’ve commented on this before. As an industry, we’re about to cross into year four for many companies (the Fortune 500) and they still see all pain, no gain. We hear this from clients all the time.

How do we help? It’s not within our influence to have the SEC roll back the rule ~ and I would not look for that to happen. XBRL is a global movement.

What we do have is a filing solutions that will ease the burden, both fiscally and workflow. We’ve named our program fleXBRL – the point being flexible: options that match your needs. We love to send you details. Click here.

Have a great day.

2 responses to ““…the hotel ballroom full of corporate finance professionals erupted into laughter.” (XBRL!)

  1. Suggest that the corporate finance professionals might want to consider attending this conference on using XBRL for ALL Corporate Communications http://xbrl.us/events/pages/corpactionsforum.aspx as it is sponsored by SIFMA.

  2. This article and its comments are highly relevant to a new venture that is available in beta today, 9W Search. The founders on 9W were the founders of EDGAR Online. I was the CEO of EDGAR Online from 1995 through 2007. We were involved from the beginning of the XBRL consortium and had an important role in the development of the taxonomies.
    The promise of XBRL to me was that it would aid significantly in the transparency of the data that individuals, corporations and regulators needed to make important business decisions. In my view at the time the promise of breaking out of the standard methods of financial reporting to deliver more easily consumable information was a worthy goal.
    I find Dan Roberts’ comment “In 2006 the SEC had the option of buying an XBRL database and using one vendor’s existing auto-tagging processes (with the filer then being asked simply to verify)” important because at that time I also believed in that possibility. EDGAR Online was certainly a viable option for this approach.
    With 9W, we have come to market with a platform that meets the needs of the consumer (or prosumer). It is designed for both the tablet and the desktop and will soon have an interface for mobile handhelds. It has been viewed by XBRL leaders as well as educators, finance experts and small and large business strategists as the next generation platform that will open up the mysteries of financial and business information to a previously underserved global audience..
    We invite you to register for our free beta and see it for yourselves. Please go to http://www.9wsearch.com, register, and please provide us with input.

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