XBRL Begins to Catch on in Japan

makoto-shibata-banktokyomitsubishi

The eXtensible Business Reporting Language (XBRL) has started to take hold since first being adopted in Japanese markets in 2008, and is removing the need to re-enter data into a more workable format, as well as gaining acceptance from Japan’s accounting standards body, said Makoto Shibata, principal analyst in the e-business and IT initiatives division at The Bank of Tokyo-Mitsubishi UFJ, who presented a case study at September’s Tokyo Financial Information Summit sponsored by Incisive Media.

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