The June 2008 issue of CFO magazine has an article titled "Suddenly, It's Here". SEC mandated XBRL that is. I mentioned back in April that this was rumored and now it's come to pass. From the article, companies with $5 Billion or more in market cap will have to file in XBRL format for late 2008 fiscal periods. Those statements will be made public in 2009.
For the small and mid cap filers out there who just breathed a sigh of relief, suck it back in, you only get an extra year. International companies filing using IFRS get one extra year.
There are plenty of small and mid cap public companies that use Microsoft Dynamics GP. The good news is that FRx has had the ability to produce XBRL statements for years. The bad news, is that you're probably not already using this functionality.
On the Performance Point side, I hope that this speeds up the introduction of XBRL functionality to the Management Reporter portion of Performance Point.
So if you fall into this XBRL deficient group, dust off your FRx skills or call your partner for help because the the XBRL train is rolling and you don't want to get stuck on the tracks.
You, Me and Dynamics GP
The premier information site for Microsoft Dynamics GP
