Automatic Data Retrieval from financial document to XBRL filing
Archive for August 3rd, 2009
Longitudinal Analysis of Voluntary Adoption of XBRL on Financial Reporting
In December 2008, the SEC approved final rules which require companies to submit financial statements in XBRL format with their SEC filings, beginning with quarterly June 2009 filings for the largest companies and within three years for all public companies. Previously, the SEC established a voluntary filing program for XBRL reporting in March 2005. Accordingly, the objectives of our study are: (1) to provide an overview of the benefits and global development of XBRL and (2) to evaluate the extent of XBRL adoption following the implementation of the voluntary filing program. We find the quantity of voluntary reporting to be relatively low, but reporting significantly increased over time. Voluntary adopters are larger and more innovative firms in their industries. We find evidence suggesting increasing efficiency in XBRL reporting, as reporting lags have significantly decreased over time. This efficiency improvement is positive news and may accrue to other companies after they are required to use XBRL reporting. XBRL is expected to have a positive effect on accounting and financial reporting worldwide, particularly used in conjunction with International Financial Reporting Standards (IFRS).
You can found whole study here.
XBRL rendering on your IR website: a live discussion with the SEC
Webcast: August 4, 2009 – 2:00 PM ET
The past two weeks of earnings announcements and 10-Q XBRL filings have raised several issues for US public companies regarding the display and the expectations of how XBRL will look and function in a rendered “human” readable format.
Although we realize many companies are in the middle of earnings, from the experiences many accelerated XBRL filers had last week, Shareholder.com felt this issue warranted an immediate senior discussion.
XBRL was, at its very core design, built to be machine readable and, even though XBRL is 10 years in the making, the human presentation side of the solution was secondary. As a result, akin to how, at first, the newer web browsers would display some websites slightly different, the visual interpretation between the many different XBRL viewing solutions have variations. Certainly, the front-end “tagging” of XBRL has been greatly discussed but the public display of XBRL has not been adequately discussed. Bringing clarity on the rendering aspect will help set expectations and reduce tension during the stress of filing XBRL for the very first time.
WEBCAST PANEL INCLUDES:
- David Blaszkowsky- Director, Office of Interactive Disclosure, SEC
- Campbell Pryde – Chief Standards Officer at XBRL US
The panel is moderated by Philip Moyer, CEO and President at EdgarOnline Click here to schedule this event into Outlook.Click “Open” when prompted, then “Save and close” within Outlook.
Click here to pre-register. We will send you an email reminder before the event.
Post event, the archive will be here.
JVC Black Series HA-M750 and HA-S650 Foldable Headphones
JVC introduces two new Black Series headphones, the HA-M750 and HA-S650, both have a sleek, simple and foldable over-the-head design.
The HA-M750 is a full-size headphone with a 40mm driver unit. It features “DJ-style” one-ear monitoring with an innovative twistable housing. JVC’s HA-S650, on the other hand, is a flat-folding, lightweight headphone with a 36mm drive unit.
They both come with a 1.2 meter copper cord minimizing friction noise and a slim, gold-plated plug that is iPhone compatible. The HA-M750 gets also a 2 meter extension cord. These headphones has a glossy and flat black finish. They will be available in August for $79.95 and $69.95, respectively.
[jvc]
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Chocolate Mouse Wireless Mouse
What you see above is not a real chocolate bar but the Chocolate Mouse that is chocolate-shaped and has a chunk taken out. The Chocomouse is a wireless mouse. For those who like chocolate, don’t get this. You may put it in your mouth “accidentally”.It is priced at GBP21.99.
[lazybone]
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