Kris Brands, Assistant Professor of Accounting in the College for Professional Studies at Regis University, contributes to Strategic Finance. This is an excerpt of Kris’s post, by permission of Strategic Finance.
XBRL (eXtensible Business Reporting Language) reporting gained momentum in the United States during 2011 as the final wave of the U.S. Securities & Exchange Commission (SEC) 2009 XBRL Reporting Mandate became effective.
This means that more than 8,000 U.S. publicly traded companies are now required to file their financial statements in XBRL format.
As reported in this column last month, several other U.S. federal government agencies also are looking at XBRL as a standard business reporting (SBR) tool to provide transparency in U.S. federal government program reporting. Even if your organization isn’t using XBRL for business reporting and may not fall under the SEC mandate, the trend toward using XBRL for external and internal reporting has gained traction and is here to stay.
Many IMA® members are wondering how they can learn about XBRL and apply it to their organizations. Let’s take a look at resources and educational opportunities that are available to help you learn about XBRL.
Read the rest of this article from Strategic Finance, which includes more XBRL details, resources, and XBRL training information on Regis University’s introductory XBRL course and advanced XBRL course, “Financial Applications for XBRL and Interactive Data,” taught by Kristine Brands and Jim Zapapas.
Kristine Brands has extensive work experience in finance, accounting, controllership, auditing, software engineering, and financial systems design and implementation. Holding both CPA and CMA certificates, Kristine is heavily involved in the research and policy areas of performance measurement, International Financial Reporting Standards, and XBRL and interactive data. Speaks at national accounting conferences on accounting issues and serves on the Institute of Management Accountant’s XBRL Standing Committee.