Browse feedback received about the XBRL US GAAP Taxonomies and Preparers Guide.

Beta release 1.0 of the US GAAP Taxonomies and Documentation has been designed to help companies create their financials in XBRL format. The initial use of these Taxonomies will be to help public companies file their financials to the SEC. The public review period for the US GAAP Taxonomies and Preparers Guide was from December 5, 2007 through April 4, 2008. during this time all stakeholders had an opportunity to review and provide comment on the Taxonomies and the Documentation.

The collaborative effort behind the US GAAP Taxonomy Development required input from all key stakeholders. Input from company preparers, audit firms, financial analysts, investors and others was critical to ensuring viable, useable taxonomies. All comments received will be considered and potentially incorporated into the final Release.

XBRL is a business reporting standard that improves the accessibility and comparability of financial information with the use of a controlled vocabulary (a taxonomy) and software.

The XBRL US GAAP Taxonomies are collections of financial reporting concepts that companies will use to report their financial statements in XBRL. Each financial reporting concept in the Taxonomy is an element or "tag". Elements in the taxonomy cover all US GAAP reporting requirements for both the primary financial statements (for example, the Balance Sheet) and the notes to the financial statements. Additionally, the Taxonomy provides elements that cover common financial reporting practices.

In connection with the Taxonomy, a Preparers Guide was available for comment during the public review period. The Guide is a manual for understanding XBRL and preparing a financial statement in XBRL.