The move to XBRL filings will roll out in stages, with about 500 so-called "large" domestic and foreign issuers expected to submit XBRL versions of financial reports this winter. This is according to the Securities and Exchange Commission, which last week issued a rule proposal concerning XBRL adoption.

Beginning with fiscal periods ending on or before December 15, companies with a public float of $5 billion or more will have to begin using XBRL reporting. Initially, reporting companies are required to have single tags, or identifiers, for each footnote but beginning in year two of the company's XBRL reporting, more detailed tags within the footnotes themselves will be required.

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