SEC ready to mandate filing accounts in XBRL

At an open meeting on Wednesday 14 May, the US Securities and Exchange Commission set out a staff recommendation that companies should submit their accounts electronically using XBRL, the eXtensible Business Reporting Language. John Stokdyk reports.

The SEC plan suggested a phased implementation beginning with companies turning over more than $5bn annual for financial periods beginning on or after 15 December 2008 and extending in successive years to other US and international filers who use US GAAP a year later.

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Comments

How is UK Companies House getting on with XBRL?

David160 | | Permalink

How is UK Companies House getting on with XBRL? I have heard that several software companies that produce statutory accounts are not happy with how UK Companies House are implementing XBRL. Is this correct, and what do you think?