Financial Reporting in the XBRL Age

This Executive report outlines how the eXtensible Business Reporting Language (XBRL) can be used to improve internal and external financial reporting, and where XBRL is in its adoption evolution. To move XBRL to broad adoption, participation and input from finance executives in every part of the financial reporting chain and every industry is required. For financial statement preparers, one way to participate is through the Securities and Exchange Commission's (SEC)'s voluntary XBRL filing program. This Executive report concludes with a step-by-step approach for first-time implementation of the SEC's program.