XBRL Begins to Catch on in Japan
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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