How will XBRL affect the various participants in the financial supply chain?
Those who stand to benefit include all who collect business data, including governments, regulators, economic agencies, stock exchanges, financial information companies and the like, and those who produce or use it, including accountants, auditors, company managers, financial analysts, investors and creditors. Among those who can take advantage of XBRL include accountancy software vendors, the financial services industry, investor relations companies and the information technology industry. XBRL will impact: Organizations that prepare financial statements More efficient preparation of financial statements because they will be created one time and rendered many times, be it to the printer, to lenders, private investors, on Web sites, or as regulatory filings. Analysts, Investors and Regulators Enhanced distribution and usability of existing financial statement information. Automated analysis, significantly less re-keying of financial information, transformation from one form into anothe
Those who stand to benefit include all who collect business data, including governments, regulators, economic agencies, stock exchanges, financial information companies and the like, and those who produce or use it, including accountants, auditors, company managers, financial analysts, investors and creditors. Among those who can take advantage of XBRL include accountancy software vendors, the financial services industry, investor relations companies and the information technology industry.
