(Zug, June 07) As the world's first association of financial analysts, CFA Society Switzerland (www.scfas.org) endorses XBRL (www.xbrl.org) by making available its annual reports in that format. The purpose of the initiative is to raise awareness of investors and financial analysts of the possibilities of the disruptive technology and give them something simple to play with. The reports are available online at xbrl.scfas.org.
XBRL (eXtensible Business Reporting Language) is the global standard for a seamless dissemination of financial information across the entire financial reporting value chain. It permits fast and efficient transmission of financial information, itemised down to the individual semantic unit (for instance a Q1 revenue number). Thus it enables software to automatically handle all sorts of financial information without manual intervention. The standard is supported by the International Accounting Standards Board (www.iasb.org/xbrl), the US Securities Exchange Commission (sec.gov/spotlight/xbrl.htm), and the Committee of European Banking Supervisors (www.c-ebs.org), among many others.
CFA Society Switzerland is currently in the process of facilitating the setup of a Swiss XBRL jurisdiction. Interested parties are encouraged to get in touch with the SCFAS contact listed below.
CFA Society Switzerland has been supported by the Business Reporting - Advisory Group Ltd. (www.br-ag.eu) based in Poznan, Poland.
CFA Society Switzerland
Christian Dreyer, CFA, email@example.com, +41.76.334 0800
Business Reporting Advisory Group Ltd
Michal Piechocki, firstname.lastname@example.org, +48.61.852 22 77