by John M. Covaleski New York - The Extensible Business Reporting Language programming code for financial reports could provide a major boost to market investors, according to investment industry authorities at a recent symposium, here.

XBRL will provide for “the democratization of data,” said Alfred R. Berkeley, vice chairman of the Nasdaq stock market. He said that XBRL’s potential to help investors more easily gather and disseminate financial reports could open the door to reviewing companies that are now overlooked because there’s no analysis of their financial conditions.

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