XBRL US, the organization responsible for standardizing data-tagged financial reporting in the United States, is launching the XBRL US Labs, which will perform commissioned research for partners in the private and public sectors.
The group will use some of the methods that helped create the XBRL U.S. GAAP Taxonomy, which the Securities and Exchange Commission is beginning to require large public companies to use for their financial filings. XBRL, or Extensible Business Reporting Language, is based on XML, or Extensible Markup Language. Some of the work done by the labs will involve harmonizing the XBRL financial and business reporting taxonomies with other XML messaging standards, such as ISO 20022 in the financial services sector and NIEM in the U.S. federal government sector.
For more information, visit http://xbrl.us/labs.
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