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Transparency Value: Using XBRL for Financial Analysis
XBRL promises to be a once in a career leap forward in financial reporting that will enable much more timely, efficient, accurate, less costly and comprehensive financial analysis than ever before available. XBRL, or eXtensible Business Reporting Language, is an XML-based format for the electronic communication of business information that individually "tags" the content of reports to allow for hyper-detailed automated analysis and comparison of financial reports without the need for re-keying of information. It has been adopted by the FDIC and by the SEC in a voluntary trial program for filings to the EDGAR system.
Transparency Value began with presentations by XBRL-US members showing how XBRL can be used in financial research and analysis to improve the regular
tasks performed by financial analysts, including accessing information
from SEC filings and earnings releases and performing advanced and
comparative valuation and analysis. This presentation was followed
by a lively panel discussion on adoption issues among representatives from major buy-side, sell-side,
and accounting firms with active audience participation.
The program served to educate audience members about the use of XBRL and to promote participant and panelist discussion about the adoption of XBRL by the financial community. It targeted professional financial analysts, research directors and corporate finance and reporting personnel, but was open to any interested parties.
XBRL is being developed by an international non-profit consortium of approximately 400 major companies, organizations and government agencies. It is an open standard, free of license fees. More information about XBRL may be found at www.xbrl.org.
Click here to view a recording of Trasparency Value.
Panelists
Speakers and panelists from financial community organizations including: Morgan Stanley, Franklin Templeton, Lazard Capital Markets, PricewaterhouseCoopers, Deloitte & Touche, SavaNet, Moody's Investors' Service and others.
Chair
Eric P. Linder, CFA, President, SavaNet