XBRL US Releases New Version of XBRL Consistency Suite - Now Covers Detailed Footnotes, FASB's 2011 Taxonomy Pre-Release
Automated Checking Tool has 60% more checks and improved functionality
PR Newswire -- July 27, 2010
WASHINGTON, July 27 /PRNewswire/ -- XBRL US, the non-profit consortium for XML business reporting, has released a second version of its XBRL Consistency Suite with improved functionality and additional checks that now cover detailed footnote tagging. The new version also now provides a quick and easy way to compare the 2009 Taxonomy Release to the 2011 Pre-release of the US GAAP Financial Reporting Taxonomy, recently published by the Financial Accounting Standards Board (FASB).
The XBRL Consistency Suite has three primary functions: 1) it runs automated checks that help public company preparers test their XBRL documents for problems that may occur related to the use of the US GAAP Taxonomy, such as missing concepts, incorrect signs and concepts used incorrectly, 2) it enables quick and easy peer analysis to help companies identify extensions created and concepts used by other companies within their industry, and 3) allows preparers to compare one taxonomy release to another to streamline the XBRL preparation process.
"The XBRL Consistency Suite helps us ensure that our XBRL files meet the qualifications set by XBRL U.S.," said David Froid, Sr. Financial Reporting Accountant at Linn Energy. "When working with the Company Filing Analysis section of the XBRL Consistency Suite, the ability to export data to Excel provides tremendous efficiencies for performing peer reviews, especially with the amount of data that will be involved in the detail tagging of footnotes."
The new release builds on the initial offering with:
Automated Checking Tool has 60% more checks and improved functionality
PR Newswire -- July 27, 2010
WASHINGTON, July 27 /PRNewswire/ -- XBRL US, the non-profit consortium for XML business reporting, has released a second version of its XBRL Consistency Suite with improved functionality and additional checks that now cover detailed footnote tagging. The new version also now provides a quick and easy way to compare the 2009 Taxonomy Release to the 2011 Pre-release of the US GAAP Financial Reporting Taxonomy, recently published by the Financial Accounting Standards Board (FASB).
The XBRL Consistency Suite has three primary functions: 1) it runs automated checks that help public company preparers test their XBRL documents for problems that may occur related to the use of the US GAAP Taxonomy, such as missing concepts, incorrect signs and concepts used incorrectly, 2) it enables quick and easy peer analysis to help companies identify extensions created and concepts used by other companies within their industry, and 3) allows preparers to compare one taxonomy release to another to streamline the XBRL preparation process.
"The XBRL Consistency Suite helps us ensure that our XBRL files meet the qualifications set by XBRL U.S.," said David Froid, Sr. Financial Reporting Accountant at Linn Energy. "When working with the Company Filing Analysis section of the XBRL Consistency Suite, the ability to export data to Excel provides tremendous efficiencies for performing peer reviews, especially with the amount of data that will be involved in the detail tagging of footnotes."
The new release builds on the initial offering with:
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