Early filers prepared for XBRL, according to study

WASHINGTON: A number of companies with a public float of $5 billion or higher have converted their financial statements to the new XBRL standards ahead of the June 2009 deadline, according to a new survey.

WASHINGTON: A number of companies with a public float of $5 billion or higher have converted their financial statements to the new XBRL standards ahead of the June 2009 deadline, according to a new survey. A survey conducted by XBRL US, the nonprofit US consortium for XML business reporting standards, found that 340 of the 500 companies required to use XBRL in June 2009, have converted to the new system. The Securities and Exchange Commission (SEC) has mandated all public filers do so by 2011.

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