Thangavel.....

It's time for larger and smaller businesses to consider the short term challenges and longer term benefits that extensible business reporting language could bring. By Audrey Besson Levine. The UK is following the US lead in planning to make coding language XBRL obligatory for corporate filings by 2011. Many still question and debate the usefulness of the tool and the required learning curve might scare some. But finance functions in both larger and smaller companies should now be investigating the long term benefits of the tool for them. Conceived in April 1998 by Charles Hoffman, XBRL, the Extensible Business Reporting Language, has been subsequently launched in several parts of the world and has even become mandatory for public company statutory fillings in countries such as the US and Japan. From bookkeeper to business partner Beyond regulatory compliance, the use of XBRL could prove to have a significant impact on the future of the finance function. It can enhance critical