Simple tech tool could cut billions in spending, help both parties
February 14th, 2011 | Huffington Post
A Huffington Post column about the benefits of using eXtensible Business Reporting Language (XBRL) quotes XBRL expert Saeed Roohani, a Bryant accounting professor.
Roohani notes that if XBRL had been in widespread use in the United States around 2004, the entire global financial collapse might have been avoided. "There would have been little room for mystery about types of portfolios and derived financial instruments that recently failed institutions were holding. Alarms would have been sounded long before reaching a crisis; the government and stockholders could have taken preventive action," Roohani says.
NOTE: Some news sites require registration; some links may expire