NEW YORK, April 13, 2011 /PRNewswire/ -- XBRL US, the nonprofit consortium for XML business reporting, announced today that it will hold its annual conference on September 26-27, 2011 at the Gaylord Opryland Resort in Nashville, Tennessee. The conference will cover how public companies can use XBRL for their own purposes in reporting and communicating to investors and regulators, as well as practical educational sessions on implementing XBRL for SEC reporting. CPE credit will be available for all panels and training sessions.
2011 is an important year for XBRL because this year 1) the Securities and Exchange Commission's (SEC) limited liability provision for XBRL exhibits will be eliminated for the largest public companies that were in the first phase of the SEC rollout; and 2) by year-end, all public companies will be required to submit their financial statements to the SEC in XBRL format.
"Large public companies have complied with the SEC reporting requirements," said Frank Brod, Corporate Vice President & Chief Accounting Officer for Microsoft Corporation, "However, the real opportunity for XBRL is in how companies will use XBRL for their internal reporting processes to standardize and enable efficiencies."
Sessions will include:
- Using XBRL outside of SEC reporting – peer group analysis, non-SEC regulatory reporting, working with auditors, M&A analysis
- Practical educational sessions on creating XBRL-formatted financial statements, including detailed footnote tagging, working with tables, mapping to US GAAP elements, extensions, rendering and validation
- Analysts, investors and XBRL – using XBRL today and in the future
- The SEC's limited liability provision – impact on companies when it is eliminated
- Public company case studies
"The marketplace is maturing and more content and tools are available. Attendees at this conference will get training and practical information about how they can leverage XBRL for improved reporting," said Alfred Berkeley, Chairman, Pipeline Trading LLP, and chair of the XBRL US National Conference Advisory Committee, "They will also learn how they can use XBRL to streamline internal processes, report to multiple government agencies and analyze peer activity."
Who should attend? Public company financial executives and accountants, investor relations officers, corporate secretaries, securities lawyers, investors, analysts, software providers, and data intermediaries.
To register, visit http://conference.xbrl.us.
Media representatives should contact Michelle Savage ([email protected]) for complimentary media passes.
About XBRL US
XBRL US is the non-profit consortium for XBRL business reporting standards in the U.S. and it represents the business information supply chain. Its mission is to support the implementation of XBRL business reporting standards through the development of taxonomies for use by U.S. public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through marketplace collaboration. XBRL US has developed taxonomies for U.S. GAAP, credit rating and mutual fund reporting under contract with the U.S. Securities and Exchange Commission and is developing a taxonomy for corporate actions. For more information, go to xbrl.us.
SOURCE XBRL US