US - FASB adds new XBRL functionality

Current changes to the US Financial Accounting Standards Board (FASB) Codification follow the Securities and Exchange Commission (SEC) rule effective April 13, 2009, that requires all public companies to begin providing XBRL versions of their SEC filings over a three-year phase-in period. Approximately 500 of the largest public companies, each with a worldwide public float greater than $5 billion, began filing for interim financial statements with periods ending on or after June 15, 2009. The new XBRL functionality provided by the FASB Codification Website will help entities as they prepare or plan to prepare XBRL financial statements using the US Financial Reporting Taxonomy. Users will be able to very easily identify the XBRL elements associated with specific Codification paragraphs. (For more information, visit the FASB Accounting Standards Codification Website.)