WebFilings Opens Office in Missoula, Montana to Complement Bozeman, Montana Office

WebFilings https://www.wdesk.com/ is a privately held company based in Los Altos, California and Ames, Iowa with offices in Bozeman and Missoula, Montana that develops and markets fully integrated, cloud-based solutions for business reporting teams.

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WebFilings and Apptus looking for talent for their Montana operations http://www.matr.net/article-58613.html

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WebFilings CEO Defends Usefulness of XBRL

A majority of public companies may be able to avoid the need to file their financial reports using Extensible Business Reporting Language, or XBRL, technology if a congressional bill gets signed into law.

Last Friday, the House Financial Services Committee overwhelmingly approved a measure by a 51-5 margin that would exempt companies with annual revenues of less than $250 million from the Securities and Exchange Commission’s mandate to file their financials using the interactive data-tagging format for five years or more (see House Panel Approves Bill Exempting Small Companies from XBRL Requirement).

Under the bill, the SEC would also need to carry out a cost-benefit analysis and determine whether the benefits of using XBRL outweigh the costs. The XBRL mandate would be delayed until the later of either five years after enactment of the law, or a determination by the SEC that the benefits exceed the costs.

The SEC has been requiring the largest public companies to file their financials in XBRL since 2009 and gradually phased in smaller companies over the next two years. The technology has attracted its share of critics who claim it is expensive and the usefulness of the technology is often hampered by inaccurate data and tagging.

By Michael Cohn

Full Story: http://www.accountingtoday.com/debits_credits/webfilings-ceo-defends-usefulness-of-xbrl-70031-1.html