The SEC’s New IDEA to Help Investors

New system will be an essential tool for investors


(Click to enlarge)

With so many investors now suspicious of Wall Street, government is looking for ways to restore faith in the system—and spur the economy.

One way to do that is to help investors make better decisions for themselves. On June 15th, in keeping with President Barack Obama’s mantra of openness and transparency, the Securities and Exchange Commission will unveil a new financial reporting system that it claims will lend clarity to public financial filings and make it easier, quicker, and cheaper for investors to access tangible data about the companies and funds in which they’re invested.

The new online system, known as Interactive Data Electronic Applications, or IDEA, will replace the SEC’s rather clunky and dated Edgar system, which has been used to store public financial documents for more than 30 years. Under the current filing system, documents are often lengthy and lack standardization. Finding key figures or specific facts is a difficult and time-consuming task for investors. Many stockholders end up making investment decisions based on the limited information that is more readily available such as stock price, price-earnings ratios and profit-loss statements. The new system promises to make it far easier to take the financial pulse of any public company or mutual fund.

With IDEA, the SEC will require public companies and mutual funds to file financial documents electronically using a standardized format called XBRL (Extensible Business Reporting Language). XBRL is a computer language used for electronic transmission of business data. Its purpose is to standardize the automation of business information. The IDEA creates computer readable tags, which allow investors to search for key terms such as “revenue” or “cost of sales.”

Pages: 1 2

4 Responses to The SEC’s New IDEA to Help Investors

  1. Gary Sires says:

    My name is Gary Sires.President and Ceo,founder of Venturous Techniques inc. We’ve been in bussiness as a start up company for two years now. I wrote Black Enterprise a few weeks ago with no response to no avail. We have a product that will sale millins of our device here and around the world. Look at our website. We just need to get someone to endorse our product. We will give a demonstration on how our product is better than any lock or deadbolts. My number is 408-561-2555 Or 209-491-0572. It will really matter very much if I can get a response that you have received this letter.Gary Sires

  2. Gary Sires says:

    My reply to black enterprise is that i was not even informed that you have received my response. It will make a person fill that it was looked at. We as Venturous Techniques inc. Can create many jobs if only our people will reach out with some saport. It dos’nt have to be a investor, but we are looking for someone. But just someone to look at our product and give us there endorsement. I tried to reach Judge Mathis. But to no avail. But I beleive if he saw and heard of my history. He would endorse our product. I just need a little help to let our product to be known.

  3. says:

    I am a independent inventor who has spent all his has on patnting and idea but some how I had came short on getting a prototype and the Idea masproduce for marketting. I am looking or investor or any help on how should I go about getting my Idea to the finishline. the present invention relates to generally to a writing instrument and more specially, to a fingertip mountable writing instrument. in dition,the present invention provides that the writing instrument may reduce stress on the finger while writing,relieving the user of writer cramp or arthritic pain. in addition users suffering from dastonia, tendonitis, repetive stress injury, carpal tunnel syndrome and those with multiple sclerosis may also have the avility to rite with a steaadier, more comfortable hand. futhermoe, student may benefit from the ability to highlight text while reading and be able to thumb througha textbook using te frictional nubs position on the housing exterio.

  4. What Is FML says:

    I really liked your blog! I have added you to my google news feeder.

Leave a Reply

Your email address will not be published. Required fields are marked *