SEC seeks input on taxonomies

The Securities and Exchange Commission's Office of Interactive Disclosure has asked for public comment on computer labels that will help companies make their financial disclosures more useful for investors and analysts.

At least nine software companies already support the standardized lists of labels, or taxonomies, that represent Generally Accepted Accounting Principles standards.

Their products will enable public companies to make quarterly and annual financial reports available in interactive data form instead of text form.

The interactive data is encoded in Extensible Business Reporting Language, which allows companies to map their financial information to the taxonomies.

The public comment period ends April 4.

About the Author

Patrick Marshall is a freelance technology writer for GCN.

Featured

  • business meeting (Monkey Business Images/Shutterstock.com)

    Civic tech volunteers help states with legacy systems

    As COVID-19 exposed vulnerabilities in state and local government IT systems, the newly formed U.S. Digital Response stepped in to help. Its successes offer insight into existing barriers and the future of the civic tech movement.

  • data analytics (Shutterstock.com)

    More visible data helps drive DOD decision-making

    CDOs in the Defense Department are opening up their data to take advantage of artificial intelligence and machine learning tools that help surface insights and improve decision-making.

Stay Connected