This is a listing of XBRL news from around the world. If you have news that you would like to share, please send it to us.
April 26, 2006
A free two-day training event on preparing financial reports in XBRL will be held on May 18-19 in Madrid as part of the International XBRL Conference. The primary purpose is to aid jurisdictions in developing their own trainers and champions, so jurisdictions should send members who are likely candidates for this role. The course is open only to those who have registered for the full International Conference. It is limited to 15 attendees, so those interested should book early. Please click on the link above for more information.
April 26, 2006
The Tokyo Stock Exchange (TSE) is introducing an XBRL reporting system, saying consumers of financial information will find XBRL an extremely effective technology for receiving and analysing corporate financial information. XBRL would also ensure the timely provision of information, enhancing the setting of market prices on basis of rational investment judgements, the TSE said in a statement. Click here to see its website showing trial TSE XBRL data.
April 26, 2006
The US Securities and Exchange Commission intends to use XBRL to enable a move from long, hard-to-read disclosure documents to easy-to-navigate web pages that let investors find the data they want, SEC Chairman Christopher Cox told the Senate Banking Committee. In testimony to the committee, Mr Cox reviewed the benefits of XBRL, the SEC's commitment to XBRL and its plans for roundtables this year to move XBRL forward.
April 27, 2006
Newt Gingrich, former speaker of the US House of Representatives, urged Congress to fully fund the development of XBRL in the United States. In testimony to a House of Congress subcommittee on Capital Markets, Mr Gingrich said: “Congress should fully fund the development of the XBRL project championed by SEC Chairman Cox so that U.S. companies can take advantage of this financial reporting system that allows investors and analysts to compare company performance."
May 2, 2006
XBRL International has updated its Dimensions 1.0 Specification, releasing Candidate Recommendation 3. This contains two updates to the previous Candidate Recommendation. Feedback on this new version and the updates is requested. The specification is a modular, optional extension to XBRL allowing taxonomy authors to define and restrict dimensional information. A typical example of its use is the ability to define region and product dimensions for basic elements such as sales – although its potential uses go far beyond this simple case. It provides an important extension of the ability of XBRL to represent easily and efficiently the dimensional information which exists in business reporting.
May 4, 2006
The XBRL International Progress Report for May 2006 is now available. Click the link above to read about the latest XBRL developments, including news and activities within XBRL International, news from XBRL jurisdictions, and member products and services.
May 8, 2006
The US Securities and Exchange Commission said that it will place a special emphasis on mutual funds at its first public forum on ways that interactive data can improve disclosure for ordinary investors. The roundtable on 12 June is the first in a series in 2006 which will focus on how XBRL will help provide investors and analysts with better financial information about companies and funds.
May 9, 2006
The Abu Dhabi Securities Market became the first stock exchange in the Middle East to foster XBRL by recommending that all listed companies in the UAE use it to facilitate analysis, improve the quality of financial information that companies distribute to the market, and enhance transparency.
May 16, 2006
The Dutch Minister of Justice has electronically submitted the accounts of a Dutch company to the Chambers of Commerce in a demonstration of the use of XBRL and the new Dutch finanical reporting taxonomy. The link above points to an explanation of the event, which took place on 15 May.
May 16, 2006
The IASC Foundation XBRL Team has released its Spanish translation of the complete label linkbase for the IFRS-GP (May 05) Taxonomy. Label translations are based on the IFRS International Spanish Bound Volume. Selected extensions for variances in use of the Spanish language in different jurisdictions are being compiled.