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XBRL
XBRL (eXtensible Business Reporting Language), is an international standard for identifying financial and business data so it can
be readily exchanged and translated. Already, this new standard is being used, but it continues to develop, thanks to the international
non-profit consortium www.xbrl.org of companies, agencies and other organizations working to build it.
Your company's use of XBRL, for now, remains voluntary (and the SEC offers incentives for your participation in its use in their
voluntary filing program); however, eventually your use of it will be mandated.
Digital Publishing Solutions is already creating interactive XBRL-ready data for our clients, and we are also helping clients learn
how to navigate this new territory and prepare for the eventual mandate. We can help you, too.
But, you may ask, "why use it?" How can using XBRL help you and your investors? Not only will your prospective and current investors be
able to access and analyze your financial data, regardless of their language or platform, but more importantly, you yourself will be able
to quickly and easily extract, define and analyze your own data.
XBRL will become an internationally understood standard with taxonomies that can be understood regardless of language. Because it is free
and devoid of licensing fees, it is accessible to all. Basically, XBRL will become a veritable internationally used instant translation
program for financial and business data.
Instituting the XBRL standard may seem overwhelming at first, but DPS can help.
For further information on XBRL, see:
http://xbrl.org/BenefitsAndUses The Benefits and Beneficiaries of XBRL
http://sec.gov/spotlight/xbrl/xbrlwebapp.shtml Interactive Data Viewers
http://sec.gov/spotlight/xbrl.shtml Spotlight on Tagged Data and XBRL Initiatives for EDGAR filings
To find out more about how DPS can help you through the transition, call 617.241.5600.
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