XBRL US Labs Announces iPhone, iPad Projects to Drive Innovation

NEW YORK, April 16 /PRNewswire/ -- XBRL US Labs, the research and development arm of XBRL US, has initiated a research and development effort to bring XBRL apps to Apple's popular iPhone and newly-released iPad mobile devices.

According to Mark Bolgiano, XBRL US President and CEO, the purpose of the initiative is to demonstrate the power of XBRL in a simple and accessible way.  This has often been a challenge for XBRL, a movement that is working to bring consistency, transparency, and accessibility to large and complex financial and business reports through a global agreement on a single data standard.

"The vision is not just about building public awareness – which we look forward to as thousands of people see XBRL on the iPhone and iPad – these apps will be a powerful innovation driver," said Bolgiano. "We expect to see the apps start appearing on the iTunes app store in early summer."

"Our goal is to facilitate the use of XBRL through multiple channels," said Campbell Pryde, Chief Standards Officer, XBRL US, "and to make it possible for people to see the benefits of XBRL first hand – and by easy, convenient, and familiar means."

XBRL US Labs will recruit Labs partners, research fellows, and interns over the next six weeks to prepare for a June meeting that will seek to crowd-source the design and features of the applications using the same workbench and collaboration platform it has employed for previous projects to build the US GAAP, Mutual Fund Risk-Return, and Credit Ratings taxonomies now in use by the US Securities and Exchange Commission.

XBRL US also announced that Evrhet Milam, a software engineer from Los Angeles, California, has been named the first XBRL US Labs Research Fellow on the project.  He is currently finishing his Masters in Information Systems Management at Brigham Young University, where he has focused on integrating data, mobile, and web applications.  

Bolgiano said, "We're excited about welcoming Evrhet to the Labs as part of our efforts to create more XBRL experts through cooperative education, research, fellowships and internships. Knowledge distribution and the training of new XBRL experts is a core mission of XBRL US Labs."

About XBRL US

XBRL US is the non-profit consortium for XML business reporting standards in the U.S. and it represents the business information supply chain.  Its mission is to support the implementation of XML 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. XBRL US Labs, the research and development arm of XBRL US, leverages the XBRL US platform, methodologies and people to address the quality of taxonomies and the harmonization of XBRL with other XML standards.

Links: xbrl.us

SOURCE XBRL US