Posted December 13, 2011 - 6:22 pm
If your company is among those reporting in XBRL, or eXtensible Business Reporting Language, you'll want to know about the suggestions and recommendations received by the American Institute of CPAs in response to its exposure draft, called "Proposed Principles and Criteria for XBRL-Formatted Information." The draft, issued in June, was intended to present the approach to be used by accountants evaluating information presented in XBRL. "The XBRL principles and criteria represent a means for assessing the quality of XBRL Files," the draft states. The comment period ended Nov. 30, after having been extended from its original time frame of 45 days.