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XBRL Implementation Choices?

November 16, 2008

What choices do we have in implementing XBRL? Outsource the XBRL filing to a third party? Internally use purchased software? Is there another choice?

All three are possibilities. Many third parties, including Jefferson Wells (, will fulfill the XBRL compliance requirement on an outsource basis. There are also nine approved XBRL software vendors that will sell you software so you can complete the compliance process every quarter and year end yourself. But is there a better solution? Suppose you incorporate the XBRL taxonomy into your company’s relational database and link it to your financial data. Could you use XBRL to develop periodic financial statements, tax returns, link to Excel spreadsheets for ad hoc analysis and perform other data warehouse type functions at a much lessor expense than implementing a full data warehouse?

What do you want to do with XBRL?

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