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XBRL Mandate Proposal for Operating Companies – Plain English Summary

Dated: June 2008

Author(s): Robert Blake

Reading the SEC's 143-page Proposed Rule: "Interactive Data to Improve Financial Reporting" can be tedious and overwhelming. You no longer have to worry. We've done all the dirty work for you.

Our "Plain English" summary of the operating companies proposed rule distills down key points that will help you quickly understand impact points of the mandate should it be adopted by the SEC sometime after the end of the August 1, 2008 comment period.

Questions that will be answered in this Plain English Summary include:

  • Which companies are covered by the proposed rule and when must they comply?
  • When will my first filing occur if my fiscal year-end is not tied to a December calendar year-end?
  • What documents are covered by the proposed XBRL document?
  • What data must be submitted in XBRL?

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