SEC Releases Rule Proposal on the use of Interactive Data (XBRL)

May 15, 2008

Here’s an item from Business Wire’s Michael Becker, VP of Global Disclosure & Reporting Services:

The US Securities and Exchange Commission (SEC) proposed that issuers provide corporate financial statement information to the Commission in interactive data (XBRL) format.

If adopted, the first interactive data provided under the new rules would be made public in early 2009. The remaining companies using U.S. GAAP would provide this disclosure over the following two years. Companies using International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board would provide this disclosure for fiscal periods ending in late 2010.

Additional proposed items:

  • In the initial year of a company’s filing, they would be required to provide single identifiers (tags) for each footnote and schedule but starting in year two of XBRL submission, the company would be required to provide more detailed identifiers for elements within the footnotes themselves.
  • XBRL documents would be submitted in addition to the official ASCII or HTML filing and then filed at the same time. The only exception to this rule is that the first time a company submits in XBRL format and the first time they provide detailed tagging of the footnotes, the company would be allowed a 30 day grace period after the traditional filing during which they could submit the XBRL documents.
  • Companies also would be required to post this information on their websites.

Business Wire is the only newswire service with in-house XBRL expertise and is prepared to help your company transition to XBRL reporting quickly and easily. Our EarningsDirect service is a simple, non-technical method for tagging EDGAR filings and earnings news releases in XBRL format.

The process couldn’t be easier; we convert the data to XBRL for you. Analysts, investors and the financial media receive your financials in XBRL format with a special PDF file, the Interactive Financial Statement (IFS). The IFS allows users to quickly understand, via detailed TagTips, how your financials have been tagged in XBRL. The IFS also contains the raw XBRL required for market participants to analyze the data in real time.


Press Release 2.0: Writing and Content Matter More than Tech Tricks

February 20, 2008

Tactics, the newsletter of the Public Relations Society of America , devoted its February issue to writing, and that’s good news.

PRSA Public Relations Society of AmericaWhy? Because in the contest to appear more-social-media-savvy-than-thou, some industry pros are losing sight of what matters most when it comes to press releases: good writing and valuable content. After that, appropriate delivery gets your message heard.

Judging from the roiling conversation around the “social media release,” you might think that press release results are all about the technology–that sharing chicklets, trackbacks, multimedia and tags are a PR panacea.

We at Business Wire and EON: Enhanced Online News don’t buy that. We believe a well-written story, distributed through appropriate channels, gets your message across.

That DOES NOT MEAN press release content shoved inappropriately into social media networks and two-way conversations. Crashing the party and interrupting conversations has never worked for me in the past…how ’bout you?

In our webinars, we educate attendees on how new media tools apply to press releases, reminding them that tapping into social networks requires time, energy and understanding. That’s why it’s called “networking,” which applies online just as it does in person.

At a PRSA meeting, you wouldn’t barge into a group of people you don’t know, shouting “Have you seen our new product?!? It’s really great! You should buy it!”

You wouldn’t.

Rather, you’d listen, find common ground, start a conversation, develop rapport, cultivate a relationship…and maybe, just maybe…hours, days or weeks later, propose some sort of contact.

Making releases more web friendly can increase a release’s Web traction, no doubt about it. And surely you won’t be surprised to learn that IMHO Business Wire and EON: Enhanced Online News offer the best tools on the planet for delivering press releases to their appropriate audiences.

That said, even OUR superior technology is incidental to the content and the writing.


Business Wire Announces New Website Design, SEO, and Multimedia Features

February 11, 2008

  

Following a successful soft launch in December, we are glad to officially announce our new website upgrade. Over the next few blog posts we’ll discuss the changes we made on our site. The overarching theme of all these updates is making the content we distribute on behalf of our clients as accessible as possible to all the different user groups who look for it, and in the ways they look for it. First, our new and improved website design and accessibility. 

So how is the new website design different and better now? Here’s what we did:

Redesign: 

After successfully introducing a few new international websites in 2007, we were ready to shower our main website with some additional attention as well. So in order to make the site look more up-to-date we decided to make it a bit cleaner, less cluttered, and make more effective use of white space. We’ve also reorganized some of our pages in a way that makes important content visible to those looking for it, and in a way that fits the ways in which they look for it. Below is a screen grab of the new homepage design:

  

BusinessWire.com homepage

    

In addition to the improved look-and-feel, the new homepage structure strikes a good balance between offering news content and highlighting Business Wire’s key products and services. It highlights various important products such as our PR, IR, and Media services, while still displaying our news feed in a visible place on the page. It also highlights more clearly many important features such as our RSS links, tradeshow news, Business Wire’s own news, and more. This updated look and structure extends to our internal pages as well. Here is a screenshot of our new Products and Services section: 

 

Business Wire Products and Services 

Search and User Visibility: 

On the accessibility front, we’ve updated our website code to include improved labeling and tagging of different parts of our pages, in order to make it easier for search engines to spider our content; made it simpler and leaner under the hood so that pages load faster; optimized the site for some newer versions of web browsers such as Internet Explorer, Firefox, and Safari; and switched to a unified URL structure that also makes our content more search friendly and enables more accurate traffic measurement. All these increase the likelihood of our clients’ press releases showing up higher in search results, and of users being able to more easily and quickly access our clients’ releases.

Search Engine Optimization is a moving target, and there are no silver bullets. However, we continuously enhance our SEO efforts. Examples of this include offering our EON: Enhanced Online News search and social-media-ready platform; continuously providing our clients with tips and best practices on how to better communicate in the new media landscape and make their content as web-friendly as possible; and helping clients understand how to combine SEO efforts across press releases, new online services, and their own websites. Our continuous upgrades, like the one we’ve announced today, is another example of how keep making our content as accessible as possible.  We encourage you to check out our new site design, and as usual, feel free to let us know what you think.

The official press release is here. Stay tuned for more on our multimedia and sharing updates.


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