Question: 1. Is the proposed rule permitting volunteer filers to furnish financial information in XBRL appropriate? Is there a better way to accomplish testing and analysis of XBRL data? Answer: a. XBRL is currently the most mature technology available for the purposes of tagging financial data with XML markup. However, as with any emerging technology, there are some limitations to the specification and we discuss these in the appropriate sections below. Over time, we firmly believe that these limitations will be addressed and improved as the adoption of the XBRL technology grows. Question: 2. For purposes of the program, volunteers can furnish in XBRL format, among other types of financial information, a complete set of financial statements. Are there special issues or difficulties raised by providing notes to financial statements in XBRL format? If so, should we permit volunteers to furnish financial statements in XBRL format if they omit the related notes? Should we allow volunteers to furnish in XBRL format some but not all financial statements (e.g., only a balance sheet)? Should we also allow tagging for 77other items, such as Management's Discussion and Analysis or 78Management's Discussion of Fund Performance that are part of existing taxonomies? Answer: a. One of the foremost limitations with the XBRL specification is in its support for textual content that requires more sophistication than simple strings will provide. We believe ...
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