XRBL to become mandatory soon?

Have you been experimenting with Extensible Business Reporting Language? Have you even heard of XRBL? Most of you likely have. And somewhere in your organization, someone has likely built up some expertise. A good thing because the SEC seems to be moving ahead with its plans to someday mandate its use. It's a good thing, but it does represent yet another reporting change. The latest news is that the SEC has finally developed data tags--this is an XML implementation at root-- for the entire GAAP, according to cfo.com. The new taxonomy, which is not simple, will be available to the public in December. Basically, the system should allow any company to file everything they do now in simple interactive fashion. We'll see. There will be a lot of hiccups along the way.  

For more:
- here's the cfo.com article