SEC Launches XBRL-Based “Financial Explorer”
February 25, 2008
On February 15, 2008, the SEC announced the launch of the “Financial Explorer” on its Web site. Financial Explorer is an application that allows users to review the financial results of public companies that have made filings with the SEC using XBRL data in an interactive format. Financial Explorer allows users to automatically generate financial ratios, graphs and charts depicting important information from a company’s financial statements filed with the SEC in XBRL format.
In addition to Financial Explorer, the SEC currently offers investors two other online viewers – the Executive Compensation viewer and the Interactive Financial Report viewer. The Executive Compensation viewer enables investors to instantly compare what 500 of the largest U.S. companies are paying their top executives. The Interactive Financial Report viewer also helps investors gather, analyze and compare key financial disclosures filed voluntarily by public companies using XBRL. To date, there have been 307 such filings from 74 companies. Under the SEC’s interactive data filing program, companies may continue to file XBRL data voluntarily, pending anticipated SEC rulemaking.
http://www.sec.gov/news/press/2008/2008-22.htm
http://www.sec.gov/spotlight/xbrl/xbrlwebapp.htm