Why XBRL? It's a question we get asked a lot. The answer is simple: no other publicly available data set has the same level of definition, context, and timeliness as the eXtensible Business Reporting Language. The standard is global, and growing.
Here at NeXtBRL we are leveraging data relating to the SEC’s XBRL mandate, which covers publicly traded companies that are listed on exchanges located in the US. This includes filers reporting results using GAAP, which leverage one taxonomy, and filers reporting results using IFRS, which uses a separate taxonomy. This data set is robust and contains a whole lot of insights not available anywhere else.
Interpreting paper financial statements from public companies is surely an art. Leveraging the frameworks consistency and standardization can help turn this process into a science.
