XBRL Financial Statement Reporting Requirements Chart

Summary

This chart sets forth the eXtensible Business Reporting Language (XBRL) requirements for financial statements filed with the Securities and Exchange Commission (SEC) for operating companies. In 2009, the SEC issued rules requiring companies to file certain financial statement information in an interactive data format using XBRL, a computer technology that enables users to identify or “tag” financial data to correspond to one or more terms in a standard list of definitions (known as a taxonomy). Software such as spreadsheets, databases, and financial reporting systems can recognize these standard definitions and easily download the financial information because it is in one common computer language. XBRL is intended to be more cost-effective for investors and analysts than manually inputting financial data and should facilitate comparison and analysis of financial data among companies, industries, and periods.