XRBL assignment Part 2
- Check out the IDEA website (http://idea.sec.gov/idea/searchidea/what_is_idea.html also on the Weblinks tab). If you were an investor, how do you think having access to this type of data would benefit you-or not? Will ordinary people be able to use this?
- Do you think the costs of implementing and reporting in XBRL will be offset by savings provided from electronic access to data?
- Do you think most companies will outsource the tagging of their data, or purchase software and do their own tagging? What difference would each method make in their decision?
- What is your opinion about XBRL? How might this help you in your current or future (when you graduate) position?
What benefits are to be achieved by requiring companies to use XBRL for submission of their financial reporting? What are the downsides
Will competitors be able to access too much competitive information using XBRL? Or will this make companies operate more efficiently?