The Securities and Exchange Commission unveiled a Web site on Friday that lets investors launch charts and graphs to probe the financial data of a select group of companies that have signed on to the agency’s interactive data push, according to a Reuters story.
The story stated, “The SEC’s new Financial Explorer site, reached via http://www.sec.gov/xbrl , is a tool that lets users manipulate raw data derived from XBRL, or extensible business reporting language.
“The agency is pushing companies to start filing their financial data in XBRL, which means that electronic tags much like bar codes would be attached to each piece of financial data.
“More than 70 companies have signed on to the SEC’s XBRL pilot program, and the agency is expected to propose as soon as April that companies be required to file financial results in XBRL.”
Read more here. Among the companies that have signed on to the pilot program are Microsoft and GE.
