Technical Milestones Achieved by the XBRL Standards Board and Technical Working Groups

At the request of the XBRL International Standards Board (XSB), the XII Board of Directors recently approved the promotion of two updates to the XBRL Specification to Recommended Status, with immediate effect. This action releases these enhancements to the marketplace. The updates include:

• Transformation Registry 2.0, updating certain calculations
• Formula Specification to Recommended Status, which drives validations based on XBRL instance facts and generation of derived data as output XBRL instance facts

“These are important advancements for the XBRL Standard that have undergone intensive testing, along with significant time for public comment”, said XSB Chair Conor O’Kelly. “Furthermore this reflects increased adoption and the advancing maturity of the XBRL specification. We believe that the market will respond with enhanced product development and further incorporation of XBRL into business reporting solutions”.

More information can be found at http://xbrl.org/SpecRecommendations