IDEA Filing Agent

"After 75 years of document-based static financial reporting, whether in paper documents or in electronic equivalents, it is exciting to see the SEC poised to cross the 'data threshold' and help investors receive financial information that is dynamic, usable and ready to go as they make their investment decisions. And when the investor wins, so does the public company, fund, or other filer who simultaneously benefits from greater transparency and trust in our markets. By tapping the power of interactive data to tear down barriers to quick and meaningful investment information, markets can become fairer and more efficient while investors can possess far better quality data than was ever possible before." - David Blaszkowsky, Director of the SEC's Office of Interactive Disclosure.

IDEA for Investors

MorningStar, Google and Yahoo Finance are expected to offer IDEA filing analysis tools to subscribers that will allow investors to control what and how filed XBRL document data is displayed. Being able to manipulate the display of data is only one of many future benefits of the SEC’s migration to the XBRL filing format.

A recent Yahoo news article mentions: “Instead of investors compiling data from many types of forms and then building cumbersome spreadsheets themselves, they’re now able to simply key in data requests. Such data might involve figures drawn from corporate income statements, balance sheets or executive stock compensation plans. Idea can call up all relevant tags in order to do quick searches.

Update: View XBRL Data Submitted in the XBRL Voluntary Program on EDGAR and see which companies are using XBRL for their filings now!

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  • The investor protection agency said interactive filings will start being available late this year through IDEA, which will eventually replace the EDGAR system after running in parallel for about three

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