The Securities and Exchange Commission has posted the final version of its rule mandating Extensible Business Reporting Language for public companies.
The new XBRL rule requires public companies to begin filing their financial statements in an interactive data format that allows investors to download them more easily into spreadsheets and other types of software. The technology aims to make it easier for analysts to compare financial information across companies and industries. The SEC approved the new rule last December (see SEC Approves XBRL Mandate).
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