In my last FASRI blog post, I stated that XBRL represents a significant paradigm shift in financial reporting and analysis from paper/PDF based financial statements to electronic data that can be manipulated to meet users’ needs.  This paradigm shift has implications for not only what research questions we might ask (the subject of the prior post), but also how we might collect archival data to conduct our research.

On May 15, FASRI will host a Roundtable on the mechanics of using XBRL data.  While the platform is still new, the data problems that existed only a couple of years ago have been largely cleaned up.  XBRL holds potential for efficiently and cheaply gathering data from financial statement footnotes that are required to be tagged in the system.  In the Roundtable, members of the XBRL team at the FASB will discuss and demonstrate various methods and tools to manage XBRL data and how you might use this data in your research.  Also, we will have a brief discussion of how XBRL might influence standard setting and the research questions academics might want to pursue.

The Roundtable is scheduled at 4pm eastern time on Tuesday, May 15.

To participate in the Roundtable, please follow these instructions.

1) Go to anytime after 3:00 pm (New York time) on May 15.

2) Type in the following meeting number: 591 540 000 and click “Join Now”.

3) On the next page, fill in your name, email address, and the password “Fasri001” (case sensitive). Then click “Join”.

4) After joining the meeting, you will be prompted for your telephone number. Insert your telephone number and click the “Call Me” button. Your phone will ring, which you can use to hear and speak. Please remember to put yourself on mute when you are not speaking (can be done by clicking the mic next to your name).

5) If you experience trouble with the call-back feature, you can dial in yourself using the following numbers: 866-478-6348 or 224-554-0243.