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Bowne Announces Participation in XBRL Financial Reporting Demonstration

Thursday, November 06, 2003

Press release from the issuing company

NEW YORK, Nov. 5 -- Bowne & Co., Inc., the world's largest financial printer and leading EDGAR filer, today announced it will participate in a major industry financial reporting demonstration utilizing Extensible Business Reporting Language (XBRL). XBRL technology helps to significantly improve the collection, processing, dissemination and analysis of financial data -- hence facilitating the comparison of corporate earnings and other financial statements across companies, industries and reporting periods. The demonstration is being organized by several companies, including Microsoft, PR Newswire and Ernst & Young LLP, all of which are members of XBRL International, a not-for-profit steering group of 200+ firms dedicated to the development and propagation of XBRL as a standard computer language for reporting, managing and communicating published financial statements. The project demonstration can be accessed at http://www.xbrlforearningsreleases.com/. As a key participant in the demonstration, Bowne will play a pivotal role in facilitating delivery of its financial results to end users, such as investors, research analysts and industry analysts. Participants are benefiting from early and instructive insights into how XBRL impacts both creators and users of corporate reporting information. "Bowne's participation in this project is consistent with its leadership in the financial printing industry," says Paul Penler, Vice-Chair of the XBRL US Consortium and Ernst & Young LLP's Global XBRL leader. Bowne, a member of the consortium, joins Microsoft, Ernst & Young, PR Newswire and several other member firms in this demonstration that will provide a basic working example of how the XBRL computer language allows for the effortless integration of corporate earnings reports into spreadsheets, update models, and other statistical analysis tools. "XBRL is an emerging technology focused on improving financial reporting and increasing transparency, and Bowne is committed to helping determine the best ways to apply it in order to benefit companies and their investors," said John Batt, Vice President of Marketing, Bowne Financial Print. "Bowne specializes in taking information in a variety of formats, creating a regulatory document, and then repurposing it into a number of output formats, such as EDGAR filings, PDFs, HTML Web pages and typeset versions for printing. In addition to allowing us to communicate Bowne earnings information more efficiently and effectively to our investors, we see XBRL as a tool to deliver added value to clients requiring easier dissemination of information in the increasingly demanding corporate reporting environment."

 

 

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