Investment Analysts and XBRL
By using XBRL, investment analysts and advisers can benefit from:
- Much greater transparency, clarity and consistency in company financial data.
- The ability to handle and compare a broader range of companies and deeper set of information.
- More powerful software tools for analysis, comparison and benchmarking.
- Far more efficient means of finding specific company data.
- The ability to select data from a variety of companies within seconds for comparison and analysis.
- In summary, XBRL can help the analyst community provide quicker and better quality investment advice and decisions.
To use XBRL, analysts rely on the provision of data in XBRL from companies, financial data companies or exchanges. Where this is already becoming available, analysts should discuss tools for handling and analysing XBRL data with their software providers. They may also contact their local XBRL jurisdiction for advice. Where it is not yet available, the analysts community can join their XBRL jurisdiction in communicating the benefits of XBRL and encouraging its adoption.