Allen, Thomas B.,CPA, XBRL and the new era: CPA review, 2004. Boorstin, Daniel J.CPA, AICPA goes 21st century, 2005

XBRL allows businesses to compare and file financial documents that are completely transferable and transparent. XBRL provides reduced costs to manage the flow of financial information. With the implementation of XBRL, businesses are provided with real time financial analysis. Essentially, creating a big picture of the state of the financials of the company, which can be produced and transferred quickly and easily allowing critical information to be compared on a local company or a global company at the click of a mouse. With the overwhelming acceptance of XBRL in the United States and the world, many businesses are voluntarily applying XBRL programming to their reporting system. Since the SEC made it legal for businesses to voluntarily use XBRL to file quarter and annual financial results, XBRL has been being used and appreciated by more and more businesses. In fact, the SEC’s voluntary program has a market capitalization total of two trillion dollars and could have been a catalyst for the SEC mandate which requires the use of XBRL financial disclosure over the next few years for publicly traded companies too. The steps in the mandate, which began (for large companies) in two-thousand nine includes: the initial adoption in year one, the increased scope of adoption in year two and the full XBRL adoption by year three. I can see a very positive very public acceptance of XBRL’s usage and effects by year three for the companies that make it. I think the reasoning behind XBRL is such that many companies can communicate with each other and the government more efficiently and effectively; there by, improving the reliability of financial reports giving people a more comfortable feeling when determining which company to do business with. When every business reports the true values of the current financial position of their company and releases these facts for all to see then, I would say that we are getting closer to a better system with less opportunity to take advantage of good people. When XBRL becomes standard practice for all businesses we will see. XBRL should provide a bright light for the future of business ethics shining a light on the waters muddied by evil doers. XBRL’s worth is in its efficiency and simplicity which will prove inspiring when fraud cannot be committed without penalty. People will notice the difference and wonder why it took so long to implement the system in the first place. Like so many other things in the world when it comes to business and government working together things just don’t seem to get worked out in a timely manner. It took brazen erroneous acts of fraud to propel enough consumer repulsion and out right anger at everything business related for the government to clamp down on these evil doers. A full submission to XBRL is a large step in the right direction. I think that the application of XBRL will drive trust for the system and therefore future growth and since that is the most important goal of any business that is why XBRL is so important.