On December 17, 2008, the U.S. Securities and Exchange Commission (SEC) approved a final rule that will make the use of interactive data (XBRL) mandatory for all U.S. public companies over a three-year period. Public companies with a worldwide public float greater than $5 billion will begin filing XBRL documents starting with fiscal periods on or after 6/15/09, followed by all other accelerated filers, for their first fiscal period on or after 6/15/2010, then all other filers for their first fiscal period on or after 6/15/2011. Mutual funds must begin tagging key information, including risks, fees and performance, by January 2011.

Listen to webcast playback: http://www.connectlive.com/events/secopenmeetings/

Read SEC remarks on Open Meeting: http://sec.gov/news/speech/2008/spch121708mwg.htm

Read the SEC press release: http://www.sec.gov/news/press/2008/2008-300.htm

Read the EDGAR filer manual draft: http://sec.gov/info/edgar/edgarfm-vol2-v10-draft.pdf)

XBRL US, along with its members, stands ready to provide the tools, services and support needed by public company preparers to comply with the mandate of XBRL by the SEC:

• Preparer training workshops, in-person sessions that show filers how to map and tag their own financial statements, how to block tag footnotes, issues to consider and how to get started.
• Free educational webinars covering the planning process, demonstrations on how to map, tag and create extensions plus case studies from companies already using XBRL.
• Tools and Services Matrix, an online comparative table that outlines XBRL US member offerings that help public companies create XBRL-formatted financials.
• XBRL US GAAP data tags, the full set of elements that public companies will need to use to begin submitting in XBRL format. XBRL US developed these tags under contract with the SEC.
• XBRL US GAAP Taxonomies Preparers Guide, a comprehensive document on how to tag financials, create extensions and work with the taxonomies.

XBRL US has completed a new draft of the XBRL US GAAP Taxonomies, now available for public review through January 15, 2009. The 2009 version of the US GAAP data tags builds on the first release completed and published on April 28, 2008 under contract with the SEC and reflects new accounting standards and changes in common reporting practices, drawn from comments received throughout the year. Reviewers can view the elements and provide commentary on revisions to labels or definitions and on new elements that should be added.

Read the news release: http://xbrl.us/press/Pages/20081125.aspx

View and comment on the 2009 data tags: http://xbrl.us/USGAAPpublicreview/Pages/default.aspx

Starting in 2009, three new directors will be joining the XBRL US Board. They are:

• Michael Schlanger, Vice President, Business Development and Strategy of Merrill Corporation
• Charles Callan, Senior Vice President of Broadridge Financial Solutions
• Mohamoud Jibrell, Chief Technology Officer of The Ford Foundation

The appointments of Mr. Callan and Mr. Schlanger reaffirm XBRL US' commitment to continuing its work on the use of structured data in the U.S. capital markets and their experience in this area will help guide the consortium's development of new taxonomies and tools. Mohamoud Jibrell brings expertise in technology and in the nonprofit world that will help XBRL US seek out new opportunities for XBRL in non-profit reporting to further expand the footprint for structured data.

Read the news release: http://xbrl.us/press/Pages/20081219.aspx

The SEC recently published a new "preview" viewer that allows issuers to upload their XBRL file and preview how it will appear in the SEC viewer prior to submission. This is part of their IDEA rollout and will let issuers see their files in as little as 15 minutes. The link can be found from the www.sec.gov home page under Information for EDGAR Filers or you can link to it directly: https://ideapreview.sec.gov/previewer/.

XBRL US has developed an online comparative table outlining XBRL US member offerings that help public companies create XBRL-formatted financials to file with the SEC. Filers can compare basic features for different products and services at a glance and use detail links to learn more about product features and get contact information.

View the Tools and Services Matrix: http://xbrl.us/101/Pages/ToolsAndServices.aspx

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.