XBRL Challenge $20,000 Grand Prize Winner to Be Announced Feb. 29

NEW YORK, Feb. 27, 2012 /PRNewswire/ -- XBRL US invites reporters to a press conference announcing the winner of the XBRL Challenge, a contest to develop open source applications that consume public company financial data in XBRL format.  The press conference immediately precedes a free half-day conference, "XBRL and Financial Analysis Technology" in New York City which will feature keynote speakers from the U.S. Securities and Exchange Commission (SEC) and the CFA Institute.  The program will also include video demonstrations of the XBRL Challenge finalists, a discussion among the judges and awarding of the $20,000 grand prize.

What
The press conference, in-person and via phone dial-in, will include brief remarks and a Q&A session with:

• Glenn Doggett, Director, Standards of Practice, CFA Institute
• Campbell Pryde, President and CEO, XBRL US
• Paul Ratnaraj, Director - Advanced Initiatives, Wharton Research Data Services (WRDS)
• Winner of the XBRL Challenge

How:

• To register to attend the press conference, either in person or via conference call, email [email protected] 
• To learn more about the half-day conference in New York and register, visit  http://xbrl.us/Feb29event

When & Where
Wednesday, February 29, 2012, from 2:30 to 3:00 pm ET
The press conference will take place at Baruch University, 55 Lexington Ave (enter on 24th or 25th street) Room 14-285, New York City (http://xbrl.us/Feb29map).  Conference call dial will also be available – email us to receive dial-in information ([email protected]).

Background on the XBRL Challenge
The XBRL Challenge was launched in Summer of 2011 by XBRL US, offering a grand prize of $20,000 to the individual or team that submitted the most inventive and useful application leveraging XBRL-formatted data from the SEC's EDGAR database.  Today, over 8,000 companies file in XBRL format.  Data produced in XBRL format is computer-readable which gives it greater portability, reliability, accuracy and timeliness, and can provide individual and institutional investors with better information for investment decisions. More than 80 contestants applied to the XBRL Challenge contest.  A panel of five judges was assembled to review the Challenge entries and select the winner. Links to finalists can be found at http://xbrl.us/challenge.

About XBRL US
XBRL US is the non-profit consortium for XBRL business reporting standards in the U.S. and it represents the business information supply chain. Its mission is to support the implementation of XBRL business reporting standards through the development of taxonomies for use by U.S. public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through marketplace collaboration. XBRL US has developed taxonomies for U.S. GAAP, credit rating and mutual fund reporting under contract with the U.S. Securities and Exchange Commission.

Website: http://xbrl.us    
XBRL Challenge:  http://xbrl.us/challenge

SOURCE XBRL US