Bowne First to Participate in SEC's XBRL Pilot Program
Press release from the issuing company
NEW YORK, April 4 -- Bowne Financial Print, the world's largest financial printer, leading EDGAR filer and a division of Bowne & Co., Inc., is the first company to make a filing in XBRL through the SEC's new XBRL Pilot Program. 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 filing continues a long history of leadership in SEC-related initiatives. In 1984, Bowne was the first public company to join the SEC's EDGAR pilot program, and in 1999, Bowne once again broke new ground by being the first to file an HTML document with the SEC. Bowne is active in 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. As a long-standing member in this consortium, Bowne has worked closely with members of the accounting and auditing professions, as well as a number of software vendors, to prepare for this pilot and to stay as current as possible on this emerging technology.
Bowne has watched XBRL develop, has participated in demonstration projects, and has evaluated XBRL document creation and analysis tools. Additionally, the company has posted its own earnings releases in XBRL.
"XBRL is an emerging technology focused on improving financial reporting and increasing transparency. As a company that is committed to employing the latest technologies to meet our clients' needs, Bowne is proud to have been the first to file earnings information through this important pilot program. Going through the XBRL creation and filing process positions Bowne to provide key insights on the technology to our clients," 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 our own earnings information more efficiently and effectively to our investors, we welcome XBRL as a tool to deliver added value to clients requiring easier dissemination of information in the increasingly demanding corporate reporting environment," Batt added.
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