The Path to Transparency in Philadelphia, PA, November 9-10, 2010

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  Published in Science and Technology on Monday, July 12th 2010 at 23:00 GMT by Market Wire
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XBRL US Announces its National Conference 2010: The Path to Transparency in Philadelphia, PA,... -- WASHINGTON, July 12 /PRNewswire/ --

Keynotes to include the President of the Financial Accounting Foundation

WASHINGTON, July 12 /PRNewswire/ -- XBRL US, the nonprofit consortium for XML business reporting, announced today that it will hold its annual conference on November 9-10, 2010 in Philadelphia, PA at the Pennsylvania Convention Center.  The program will focus on how the use of XBRL can lead to greater transparency with an emphasis on real-world implementation such as XBRL for US GAAP reporting.  Development programs underway including XBRL for corporate actions and proxy and other areas in securities processing will also be key topics.  CPE credit will be available for all panels and training sessions.

Terri Polley, President of the Financial Accounting Foundation (FAF), who will provide one of the keynote addresses noted, "Thousands of public companies are in the midst of developing their XBRL-formatted financials right now.  With the transition of maintenance of the US GAAP Financial Reporting Taxonomy to the FAF and Financial Accounting Standards Board (FASB) last year, we are keenly interested in ensuring that public companies get the information and education they need to develop high quality XBRL financial statements."  

Highlights of the conference include:

• Keynote presentation by Terri Polley, President, Financial Accounting Foundation  (parent organization of the FASB)
• Training sessions for preparers on creating XBRL-formatted financial statements, including detailed footnote tagging, working with tables/dimensions, mapping to US GAAP elements, extensions, rendering and validation
• Sessions on data quality and investor use of XBRL information, the implementation of XBRL for mutual funds and credit rating agencies
• Development underway – the corporate actions business case and pilot program
• An innovation workshop exploring XBRL in securities processing
• Sessions covering federal government use of structured data for reporting

"The emphasis at the conference will be on practical implementations with sessions on lessons learned, as well as updates from the FAF-FASB and high-level training classes for preparers on validation, detailed footnote tagging and mapping," said Chuck Callan, Senior Vice President, Broadridge Financial Solutions and Chair, XBRL US National Conference Advisory Committee. "Financial executives from public companies and securities processing representatives will walk away with useful information that they can apply immediately.  And attendees will get some timely updates on activities in the federal government space as well."

Who should attend? Public company financial executives, investor relations officers, corporate secretaries, securities lawyers, investors, analysts, custodians, broker/dealers, government agency representatives, software providers, and data intermediaries.

To register, visit [ http://register.xbrl.us ].

About XBRL US

XBRL US is the non-profit consortium for XML business reporting standards in the U.S. and it represents the business information supply chain.  Its mission is to support the implementation of XML business reporting standards through the development of taxonomies for use by U.S. public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through marketplace collaboration.  XBRL US has developed taxonomies for U.S. GAAP, credit rating and mutual fund reporting under contract with the U.S. Securities and Exchange Commission. XBRL US Labs, the research and development arm of XBRL US, leverages the XBRL US platform, methodologies and people to address the quality of taxonomies and the harmonization of XBRL with other XML standards.  For more information about XBRL US, visit [ http://xbrl.us ].

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