The extensible Business Reporting Language (XBRL) is likely the future of financial reporting. XBRL is a computer language that "tags" each item and specifies what that item is. XBRL reporting has already been adopted for use in Australia, Japan, and the United Kingdom. As of early 2011, a Securities and Exchange Commission advisory committee has recommended that U.S. companies be required to submit financial reports to the SEC in XBRL format. It has been suggested that requiring XBRL be gradually implemented, so it could be several years before we see all companies file XBRL financial reports. All listed U.S. companies file electronic reports with the SEC, but the reports are only available in html or text format. XBRL reporting will allow investors to quickly download financial statements for analysis.

Currently, several companies voluntarily submit financial statements in XBRL format. For this assignment, go to the SEC website at www.sec.gov. Once there, look up the financials for a company. Next to the 10-Q (quarterly) and 10-K (annual) reports, you should notice a link that says "Interactive." Click on this link, follow the "Financial Statements" link, and select "View Excel Document." This link will allow you to download all of the financial statements in one Excel document. Download the Excel document and copy into the next worksheet. Use these statements to calculate the ratios on that worksheet. Do you notice any changes in these ratios that might indicate further investigation?