XBRL US, the nonprofit group working to develop the Extensible Business Reporting Language in the U.S., said it has finished codifying collections of financial and business terms for U.S. generally accepted accounting principles in XBRL format, along with an accompanying preparers guide.

The collections, known as the GAAP taxonomies, along with the preparer's guide and accompanying documentation, were delivered to the Securities and Exchange Commission this week. The SEC is encouraging companies to begin filing their financial statements in XBRL to make them easier for investors to analyze and compare, and is widely expected to soon mandate the filing of financial statements in XBRL.

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