IASC Foundation publishes IFRS Taxonomy 2009 for public comment.

The International Accounting Standards Committee Foundation announced the release of the near final version of the IFRS Taxonomy 2009 for public comment on Jan. 12.

The IFRS Taxonomy 2009 is a translation of International Financial Reporting Standards as issued on Dec. 31 into XBRL (eXtensible Business Reporting Language), a language that is used to communicate information between businesses and other users of financial information.

The specific characteristics of XBRL allow companies, regulators, investors, analysts and others using the IFRS Taxonomy 2009 with easier filing, access to and comparison of financial data. XBRL is rapidly becoming the format of choice for the electronic filing of financial information--particularly within...