Comments on: Understanding XBRL http://www.zu.com/live/2008/06/news-events/events/understanding-xbrl/ blog, ideas, interactive, life Sat, 22 Jan 2011 00:50:42 +0000 hourly 1 By: Peter Boritz http://www.zu.com/live/2008/06/news-events/events/understanding-xbrl/comment-page-1/#comment-16264 Peter Boritz Tue, 30 Jun 2009 23:41:22 +0000 http://www.zu.com/blog/?p=72#comment-16264 Filers have a number of options in meeting compliance to the XBRL mandate. They can do the filing in house or they can outsource it. The in house approach has the advantage of full control. However, few businesses have expertise in SEC filings, much less XBRL. With outsourcing, you review reports, but you still have no control over what is actually represented in the instance documents and their extensions that will be sent to the SEC and there is minimal audit ability or SOX compliance management. Perhaps the best approach is a hybrid of the two. Perform the work in house with the consultation of a filing agent who has expertise in SEC and XBRL filings. XBRL is still in the birth stages of development. These are questions that must be addressed for it to be successful. Many preparers are not equipped to deal with these issues. This will change over time. Transparency and its many authentication issues are yet to be taken under consideration. There are many pioneers. Filers must ask the right questions and seek solutions as they move into the XBRL filing process. <a href="http://www.snappyreports.com" title="Snappy Reports XBRL" rel="nofollow">Snappy Reports XBRL</a> Filers have a number of options in meeting compliance to the XBRL mandate. They can do the filing in house or they can outsource it. The in house approach has the advantage of full control. However, few businesses have expertise in SEC filings, much less XBRL. With outsourcing, you review reports, but you still have no control over what is actually represented in the instance documents and their extensions that will be sent to the SEC and there is minimal audit ability or SOX compliance management. Perhaps the best approach is a hybrid of the two. Perform the work in house with the consultation of a filing agent who has expertise in SEC and XBRL filings.

XBRL is still in the birth stages of development. These are questions that must be addressed for it to be successful. Many preparers are not equipped to deal with these issues. This will change over time. Transparency and its many authentication issues are yet to be taken under consideration. There are many pioneers. Filers must ask the right questions and seek solutions as they move into the XBRL filing process.

Snappy Reports XBRL

]]> By: Websites tagged "xbrl" on Postsaver http://www.zu.com/live/2008/06/news-events/events/understanding-xbrl/comment-page-1/#comment-15433 Websites tagged "xbrl" on Postsaver Fri, 22 May 2009 05:34:12 +0000 http://www.zu.com/blog/?p=72#comment-15433 [...] - Understanding XBRL saved by jimiasty2009-05-14 - XBRL: mash-ups for accountants saved by ajacques19512009-05-10 - A [...] [...] – Understanding XBRL saved by jimiasty2009-05-14 – XBRL: mash-ups for accountants saved by ajacques19512009-05-10 – A [...]

]]> By: Barry Smith http://www.zu.com/live/2008/06/news-events/events/understanding-xbrl/comment-page-1/#comment-1630 Barry Smith Mon, 11 Aug 2008 11:05:48 +0000 http://www.zu.com/blog/?p=72#comment-1630 This link may help those trying to understand XBRL: http://www.cpaireland.ie/UserFiles/File/Accountancy%20Plus/IT/March%202007/AccPlus%20XBRL.pdf This link may help those trying to understand XBRL:

http://www.cpaireland.ie/UserFiles/File/Accountancy%20Plus/IT/March%202007/AccPlus%20XBRL.pdf

]]> By: Tony Zuck http://www.zu.com/live/2008/06/news-events/events/understanding-xbrl/comment-page-1/#comment-338 Tony Zuck Sat, 14 Jun 2008 23:36:05 +0000 http://www.zu.com/blog/?p=72#comment-338 Good discussion for Canadian IRO's here. http://preview.tinyurl.com/43q3np Sample quote: "Canada is way behind the rest of the world and if it wants to play in the global markets it will have to catch up. " Good discussion for Canadian IRO’s here.

http://preview.tinyurl.com/43q3np

Sample quote:
“Canada is way behind the rest of the world and if it wants to play in the global markets it will have to catch up. “

]]> By: Thanks Tony! http://www.zu.com/live/2008/06/news-events/events/understanding-xbrl/comment-page-1/#comment-330 Thanks Tony! Wed, 11 Jun 2008 22:22:16 +0000 http://www.zu.com/blog/?p=72#comment-330 Thanks from those of us holding down the fort :) Thanks from those of us holding down the fort :)

]]> By: admin http://www.zu.com/live/2008/06/news-events/events/understanding-xbrl/comment-page-1/#comment-323 admin Wed, 11 Jun 2008 02:00:35 +0000 http://www.zu.com/blog/?p=72#comment-323 Great recap! Great recap!

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