July 29, 2010 –  XBRL US, the non-profit consortium for XML business reporting, has released a second version of its XBRL Consistency Suite. This new version also now provides a quick and easy way to compare the 2009 Taxonomy Release to the 2011 pre-release of the US GAAP Financial Reporting Taxonomy, recently published by the Financial Accounting Standards Board (FASB).  

PR NewsWire brings us this news in their article, “XBRL US Releases New Version of XBRL Consistency Suite – Now Covers Detailed Footnotes, FASB’s 2011 Taxonomy Pre-Release”. What seems important and improved has to do with the primary functions of the product. Specifically, 60% more checks that now cover detailed footnote tags in addition to the face financials; detailed information on extensions created by peer companies including name, presentation label, definition, and even presentation and calculation hierarchies that preparers can leverage in their own creation process; the ability to compare disclosure notes among multiple companies; and advanced filtering for more complex searching on data in XBRL submissions.

 Melody K. Smith

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