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Microsoft, Reuters and some other companies have been working on XBRL for financial data reporting. Right now, all companies pretty much provide their reports in free text, but by providing it in XBRL, it would be then considerably easier for financial analysts to review these documents. Presently, it is only human eyes that reads through them all - but with XBRL, we can allow applications to then do all the crunching.

Microsoft is so much behind it that they are going to include XBRL output from Office! There is also hopes that the SEC regulates that XBRL is a requirement for financial reporting. Read about it all here.

Posted on Monday, November 3, 2003 9:57 AM | Back to top


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