The Securities and Exchange Commission provided information Tuesday on filing financial statements in Extensible Business Reporting Language for public companies that will soon be required to file in the XBRL format.

Over the past two years, the largest SEC reporting companies have begun submitting financial information in XBRL, the SEC noted. All other public companies using U.S. GAAP, with only a few exceptions, are required to submit XBRL for periods ending on or after June 15, 2011. They are known as  Phase 3 filers.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access