Financial Reporting to Get Big Data Kick with Inline-XBRL

Tammy Whitehouse writes that the Securities and Exchange Commission is testing the waters to see if companies are interested in having the option to file their financial statements in inline XBRL.

In-line XBRL allows XBRL tags to be embedded within an HTML document. Members of the SEC staff, including Deputy Chief Accountant Mike Starr, have begun talking with practitioners about whether companies would like to have a choice between continuing to file HTML and XBRL financial statement separately, or skipping those separate filings and instead filing a single submission via in-line XBRL. It’s already the norm in the United Kingdom, where companies file financial statements and tax returns using in-line XBRL.

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