PR Newswire joins Microsoft, Bowne, SunTrust Banks, Inc., Reuters and others in a project that will demonstrate the benefits of eXtensible Business Reporting Language (XBRL) on the corporate reporting supply chain. The results of Cycle 1 and future plans will be presented at a New York workshop in December.
XBRL is an emerging XML-based standard that permits the automatic exchange and reliable extraction of financial information across all software formats and technologies. It enhances the usability and transparency of financial information reported under existing accounting standards by reducing the need to manually key information, thereby minimizing the risk of data entry error.
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