A Milestone for XBRL
Tuesday, December 11th, 2007
This could be a milestone in illustrating the benefits of using XBRL for companies filing financial data.Last week, Microsoft submitted a Form 8-K filing to the US Securities and Exchange Commission (SEC) comprising financial data for shareholders, using XBRL.
Why is this significant?
First, it needs a bit of understanding as to what XBRL is. Simple explanation: it’s an emerging XML-based standard to define and exchange business and financial performance information. For more, read the technical description on Wikipedia.