What is XBRL? Is it just another compliance burden forced on public companies or a powerful new technology that can change the way financial information is produced and distributed?
The Maryland Association of CPAs recently set out to see for oursleves and this presentation includes our findings. We have seen efficiencies in accessing our financial data, moving it into KPI software, and believe it can be used to populate tax filings, produce on-line financial statements and much more.
We are also joined by Eric E. Cohen, PWC and one of the founders of XBRL for a global XBRL update including the SEC mandate and SBR projects around the world where XBRL is being used to dramatically reduce teh reporting and compliance burden by businesses to governments.
We do think it is a powerful new technology that can reshape the financial reporting supply chain much like barcodes transformed the mfg and distribution supply chains.
This presentation was produced by Skip Falatko, Tom Hood IV (Student Intern), and Eric E Cohen (PWC)