Saturday, September 15, 2007

SEC : encourage companies to accelerate XBRL usage

Request to SEC XBRL :
This to to request SEC, to provide incentives to companies that start using XBRL ; as XBRL provides a way for any individual to extract fundamental company data from its SEC filings; for this companies should file their statements electronically in computer-recognizable format, and is huge cost savings for everyone. Any ideas on how individuals can help in this effort ?

For example, an investor might want to find out Cisco's sales for Q3 of 2007, or etc. For this, companies should generate quarterly and annual financial statements according to a standard template, like XBRL and submit it to SEC electronically. Right now , the data at SEC site is in text and not easily parsable by search engines.

Thanking you, Avinash

Emailed : xbrlprogram@sec.gov, naumannj@sec.gov, lippmannb@sec.gov, http://www.edgar-online.com/contact/contact_us.aspx
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