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The XBRL/Tax Connection: No Man (or Organization) Is an Island

Tuesday, December 7, 2010

It’s important to remember, too, that tax departments are not alone in realizing the benefits of XBRL. The global information standard is increasingly being used across other areas of the corporation, and for a wide range of information needs, both internal and external. Several XBRL mandates exist around the world today for primary financials and detailed footnotes to those financials, annual accounts, mutual fund risk/return summaries, and other asset classes. XBRL initiatives are under way in the areas of corporate actions, proxy, credit reporting agencies, and more. Remember, too, that XBRL is an interoperable standard — it doesn’t matter which platform or system you’re using, because it can work across any of them... Read More

John Cummings – Business Finance Blog