Structured data could produce a virtuous circle for all stakeholders and lead to more efficient, transparent capital markets. But there are challenges.
Structured data increases efficiency, transparency, comparability, and timeliness in the delivery of financial information.
The public has until 14 September to comment on initial rules issued by the newly formed Center for Data Quality.
Jim Allen, CFA, hones in on three financial policy issues and their likely future in Congress post-mid-term elections.
After more than a decade of XBRL use by governments and regulators globally, 2014 has brought additional advancements in the data-structuring technology.
Regulators around the world have been adding XBRL (eXtensible Business Reporting Language) reporting requirements for public companies over the past few years. However, this new source of electronic information has not yet grabbed the attention of the investment community.
Many regulators continue to evaluate and adopt XBRL requirements, while others struggle with the errors included in submissions. Many public companies continue to see XBRL as a cost, while some are recognizing benefits of internalization of tagging.
Building on the success of its inaugural competition, XBRL US recently announced the 2nd Annual XBRL Challenge, which seeks “to discover the top open source analytical tools that can mine XBRL-formatted corporate financial data from the SEC’s EDGAR database.” CFA Institute is co-sponsoring the event for a second year in an attempt to raise XBRL awareness among investors.
The reporting technology known as eXtensible Business Reporting Language (XBRL) is gaining acceptance by regulators the world over. As this electronic reporting platform expands, it will enhance financial analysis by opening access to more and more data that was… READ MORE ›
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