If you are a registered user please log in to see more postings.
 

The AAO Weblog covers accounting issues and current events as they relate the practice of investment analysis. All posts prior to September, 2007 are in the public domain, but after September 4, only subscribers to The Analyst's Accounting Observer will see all posts going forward. Only selected, occasional posts will be released to the public domain from September 4 forward.

Subscriptions to full posts available for $500 annually.
Booth: The Big Picture On XBRL
Location: BlogsAAO Weblog (Public)    
Posted by: Jack Ciesielski 5/26/2006 5:45 AM
Last week, R. Corey Booth, Chief Information Officer and Director of the SEC's Office of Information Technology, delivered the keynote speech at the 13th Annual XBRL Conference in Madrid.

Worth a read: it's a pretty clear-headed assessment of where the movement is and where it should be going, with a few glimpses of what might be the first user-friendly applications. Booth suggested that XBRL "tagging" might first be evident to users in earnings releases, rather than in full-fledged financials.

He also mentioned the challenges of getting the program going: lack of demand from the user community, perhaps because there's no really compelling demo of what XBRL can do; a light turnout from the preparer community for the SEC's pilot program; and the lack of a critical mass of XBRL expertise.

And he also mentioned the slow penetration of technology to the mass market: for instance, color TV was invented in the 1940's, but didn't outsell black-and-white until 1972. The internet took thirty years to go from the Department of Defense to your desktop.

Note that this was the speech given at the 13th XBRL conference. Let's hope we don't have another seventeen years or so to go before XBRL really arrives.
Permalink |  Trackback