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.