SEC Mandates XBRL for Filings Data

New York - The Securities and Exchange Commission has ruled to mandate the use of eXtensible Business Reporting Language (XBRL) as an interactive data format for financial filings from all publicly traded US companies, to make it easier for financial analysts and researchers to analyze company financial information.

The requirement will be phased in over the next three years, starting with the largest public companies - defined as those with a market capitalization of more than $5 billion. The SE