The method by which companies file operational financial statement information with the Securities and Exchange Commission (SEC) will change over the next three years as the agency phases in rule amendments mandating the use of Inline XBRL (eXtensible Business Reporting Language) for such filings.
The adoption of Inline XBRL, which is both human- and machine-readable for the purposes of validation, aggregation and analysis, is part of the SEC’s ongoing disclosure modernization initiative.
Read on to learn more about the new mandates.