INTRODUCTION TO XBRL
XBRL is here and Publicease can make it easy and worry free! It's not as complicated and burdensome as you may think. Everything gets filed as usual and we attach an XBRL exhibit to your current EDGAR filing.
XBRL means eXtensible Business Reporting Language. It is based on XML language (extensible markup language), which is a means of communicating information. XBRL is a language for the electronic communication of business and financial data.
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PHASE-IN PERIOD:
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Companies whose public stock is worth over $5 billion (around 500 companies) will begin for fiscal periods ending after December 15, 2008 (i.e., the calendar year we are already in). |
| 2. |
Companies with a public stock worth over $75 million would need to file a year later. The second year companies are the so-called “accelerated filers”, which total around 1700 additional companies not addressed in the first group of 500 companies. At this point, all public companies of interest to the vast majority of investors will be covered. |
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By the third year (meaning staring in 2011) all public companies would be subject to the same interactive reporting requirements. |
These XBRL exhibits are based on your financials filed in your 10Q's and 10K's. Publicease has the accounting expertise and knowledge to work with your CFO's and public accountants to pick the dictionaries (taxonomies) that apply for your company and build these exhibits for you.
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XBRL BENEFITS:
XBRL benefits all users of the financial information supply chain: public and private companies, the accounting profession, governments, regulators, analysts, the investment community, capital markets and lenders.
Automation
Minimizes costs
Increased efficiency of data handling
Improved data analysis and comparison
Improved accuracy
Improves publishing process
We highly recommend that you start before the mandatory period to see what it's about. If you are an accelerated filer, please call us to discuss. We'd like to help you get started as a test filer.
ABOUT PUBLICEASE
Publicease Financial Printing is a fully integrated financial & commercial printing company, providing composition, filing, publishing, printing, and distribution services to financial, legal, and corporate clients. We provide a dedicated account management platform available to our clients 24/7 for the following services:
EDGAR
XBRL
NEWSWIRE
TYPESETTING
FINANCIAL PRINTING
VIRTUAL DATA ROOMS
FOR ADDITIONAL INFORMATION
For additional information on XBRL please contact:
David McGuire
Partner
Publicease Financial Printer
611 N. Doheny Drive
Beverly Hills, CA 90210
O: 310-601-7637 x 101
M: 310-709-8521
F: 310-385-0415
dmcguire@publicease.com
www.publicease.com
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