The Securities and Exchange Commission will decide next Monday on its plans for any requirements and timeline for public companies to file their financial statements in an interactive data format.
The SEC said it had seen success so far in its tests of companies voluntarily filing their financials in Extensible Business Reporting Language. XBRL tags are supposed to make the data easier for investors to compare and analyze with software such as Microsoft Excel. U.S. generally accepted accounting principles have already been translated into XBRL format.
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