iXBRL, or Inline XBRL, is an open standard that is used by millions of companies around the world to prepare financial statements in a structured data format that is both human and machine readable.
The European Securities and Markets Authority has announced that starting in 2020, public companies that prepare consolidated IFRS financial statements will provide them in Inline XBRL.
Alternative presentations of XBRL data using JSON and CSV, along with the increased use of iXBRL, are creating new opportunities for investors, analysts and others to access XBRL data directly.
XBRL US has just started to experiment with iXBRL versions of corporate actions. Check out this example that reuses the open source iXBRL inspection tool that the SEC contributed to and use themselves.
Data Amplified is your opportunity to get an inside look at how XBRL is being used around the world to meet goals both tactical and strategic – illustrated with case studies presented by both solution providers and regulators.
Business Reporting is both a political and regulatory exercise, and there have been recent movements on both fronts in the US.
The SEC has accepted its first iXBRL filing. Follow the link to the SEC’s iXBRL viewer.
We highly recommend that you spend a few minutes having a look at the SEC’s new iXBRL Viewer, which provides a “head up display” for the data and data definitions associated with individual disclosures. This “looks like paper, acts like structured data” presentation is easy, intuitive and extremely powerful.
The US SEC has announced a voluntary program allowing firms it regulates to use Inline XBRL (or “iXBRL”). This is another very welcome step forward in enhancing transparency and accountability in reporting.