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July 2008 XBRL US Newsletter Update 

In this update:

On Monday, April 28, 2008, XBRL US, Inc. delivered to the Securities and Exchange Commission (SEC) the XBRL US GAAP Taxonomies (collections of financial and business terms) for US GAAP requirements and common reporting practices in XBRL (Extensible Business Reporting Language) format along with the accompanying Preparers Guide. XBRL US developed the taxonomies, Preparers Guide and other supporting documentation under a contract with the SEC. Project materials can be found at http://usgaap.xbrl.us.

Registration is now open for the 18th XBRL International Conference October 15-16, featuring SEC Chairman Christopher Cox

This important and timely conference will focus on how interactive data is changing the way companies do business and how XBRL impacts investor communications, governance, risk and compliance as well as government reporting. User-focused tracks will cover XBRL as it relates to preparers, consumers, regulators and technologists. Plus, financial executives can attend a bonus training session exclusively for public company preparers on how to create XBRL financials for SEC submission.

Where: Ronald Reagan International Trade Center, Washington, DC USA

When: October 15-16, 2008 (with special bonus training session for public company finance executives on October 14)

Who should attend: Investment professionals, IT professionals and data managers, senior financial executives, data intermediaries, investor relations professionals, software providers, legal professionals, auditors, corporate secretaries, regulators/government agency professionals.

Visit conference.xbrl.org to register and to learn more about the conference.

Learn about sponsorship opportunities at the conference

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SEC expands interactive data initiatives with two new rule proposals

On June 16, 2008, the SEC announced comprehensive reforms to improve transparency in the credit rating process. A rule proposal followed on June 16 and a key element of that proposal would require rating agencies to maintain data in XBRL format on the rating agency's Web site of all rating actions to facilitate easy analysis of initial ratings and ratings change information. Additionally, the SEC announced proposed revised oil and gas company reporting requirements to help provide investors with a more accurate and useful picture of the oil and gas reserves that a company holds. The rule proposal published on June 26 included a requirement that certain oil and gas tabular information be made available in XBRL.

Read the SEC news releases on:

>> the rule proposal requiring the use of XBRL for credit rating agencies

>>
proposed changes to oil and gas reporting requirements

READ MORE >

EDGAR database now supports US GAAP Taxonomies developed by XBRL US

As of June 23, 2008, the EDGAR database supports the new XBRL US Financial Reporting Taxonomies 1.0 developed by XBRL US and released on April 28, 2008. The new taxonomies are now available for use in the XBRL voluntary program. Get details on the new taxonomies.

READ MORE >

XBRL US' Chief Standards Officer featured in SEC podcast on Interactive Data

Mark Story of the SEC's Office of Interactive Disclosure interviews Campbell Pryde, Chief Standards Officer XBRL US. They discuss interactive data (XBRL) tags and taxonomies, including what they are, how they were developed and how to begin using them. In addition, XBRL US has launched its own podcast series featuring Voluntary Filers who offer tips for companies just getting started. Some of the participating companies who share their experience and advice include United Technologies, Pfizer and Microsoft.

Listen to:

>> the SEC podcast featuring Campbell Pryde

>> XBRL US podcasts for preparers

READ MORE >

Free educational webinar series for preparers continues; register now for upcoming webinars

XBRL US continues its series of free monthly webinars that provide education on XBRL, demonstrate how to create XBRL-formatted financials and how to participate in the SEC's Voluntary Filing Program. Programs include demonstrations, case studies from actual filers and insight from SEC representatives who will provide updates on proposed regulatory activities. Register for the next program at 3:00 pm ET on August 13, 2008 or for any of the other upcoming events.

READ MORE >

Join Us - XBRL US is the national consortium for xml business reporting standards and developers of the XBRL US GAAP Taxonomies. Our members are committed to engaging and collaborating with other members, contributing to the standard through involvement of their teams, and striving to build awareness and educate the market. Members of XBRL US represent the full range of the business reporting supply chain. Find out more about the benefits of membership and how to become involved.

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