Data-tagging tool seen as step forward

02/2/2009 | CFO.com

The International Accounting Standards Committee Foundation has released the 2009 International Financial Reporting Standards taxonomy. The protocol is the key cog in the wheel for an eXtensible Business Reporting Language project that should make financial reporting more accurate and easier to compare. The IASC Foundation says XBRL data-tagging is "rapidly becoming the format of choice for electronic filing of financial information."

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