SEC EDGAR XBRL Interactive Data Filing / Consulting - Preparing for the SEC
XBRL Proposed Rule
XBRL (eXtensible
Business Reporting Language) is an XML-based
standard to define and exchange business and financial performance information.
The standard is governed by a not-for-profit international consortium (XBRL
International Incorporated) of approximately 450 organizations, including regulators,
government agencies, infomediaries and software vendors.
XBRL is considered interactive data, which means it can be presented to investors
and analysts quickly in a format they can most easily use. Interactive data
allows computer programs to pinpoint all of the facts and figures trapped in
dense documents, enabling such tools to immediately identify the required information,
extract it, and generate comparisons. For example, the data extracted may be
compared to the results of other companies, the company's performance in past
years, or industry averages. This information can then be presented to an analyst
in whatever manner the analyst chooses.
Automated Filing Services Inc. – a member of XBRL
Canada – is available to assist filers and their respective accounting
firms with both establishing a process to generate XBRL interactive data and
filing XBRL submissions with the EDGAR system. These services are provided by XBRLit, a joint
venture with TNT Filings, Inc. Please visit www.xbrlit.com for more information.
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