Trend Setters, Company to Format & Release Own Earnings in XBRL

Bowne & Co., Inc., the world's largest financial printer and leading EDGAR filer, today announced it will participate in a major industry financial reporting demonstration utilizing Extensible Business Reporting Language (XBRL).

XBRL technology helps to significantly improve the collection, processing, dissemination and analysis of financial data -- hence facilitating the comparison of corporate earnings and other financial statements across companies, industries and reporting periods.

The demonstration is being organized by several companies, including Microsoft, PR Newswire and Ernst & Young LLP, all of which are members of XBRL International, a not-for-profit steering group of 200+ firms dedicated to the development and propagation of XBRL as a standard computer language for reporting, managing and communicating published financial statements. The project demonstration can be accessed at http://www.xbrlforearningsreleases.com/.

As a key participant in the demonstration, Bowne will play a pivotal role in facilitating delivery of its financial results to end users, such as investors, research analysts and industry analysts. Participants are benefiting from early and instructive insights into how XBRL impacts both
creators and users of corporate reporting information. "Bowne's participation in this project is consistent with its leadership in the financial printing industry," says Paul Penler, Vice-Chair of the XBRL US Consortium and Ernst & Young LLP's Global XBRL leader.

"XBRL is an emerging technology focused on improving financial reporting and increasing transparency, and Bowne is committed to helping determine the best ways to apply it in order to benefit companies and their investors," said John Batt, Vice President of Marketing, Bowne Financial Print.

The XBRL reporting language facilitates the flow of information from financial statements, performance reports, accounting records, and other financial information between software programs. It enhances the usability and transparency of financial information reported under existing accounting standards, while simplifying disclosure and allowing companies to communicate financial information via the Internet in a manner easier than ever before.

Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?
ADVERTISEMENT

This Week on AccountingWEB

Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.
WestArk RSVP and Fayette County Community Action Agency – organizations that received grant funding through the IRS Tax Counseling for the Elderly (TCE) program – spoke with AccountingWEB about how they assist senior citizens in their communities.
CPA Robert Raiola, who heads the Sports & Entertainment Group of Fazio, Mannuzza, Roche, Tankel, LaPilusa, LLC, talks NFL player income taxes with AccountingWEB.
Retiring KPMG Centennial Professor of Accounting at the University of Texas at Austin McCombs School of Business Robert May, PhD talks with AccountingWEB about his rewarding forty-three-year career.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT