Could XBRL Revolutionize Financial Reporting?

Tuesday - 3/24/2009, 7:38pm EDT

Max Cacas

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President Obama has publicly stated that his administration will be known for openness and transparency. One of the cornerstones of that policy will be websites such as recovery.gov and USASpending.gov, which will use new technologies to track federal spending and contracting. One of the base technologies that will make this all possible is XBRL, a computer language that makes it possible to handle large datasets of financial information. Federal News Radio's Max Cacas joins us live now with a sort of XBRL 101.