The Institute of Management Acuntants has formed a new XBRL Advisory mittee to focus on the untapped market needs created by interactive data-tagging technology.

The SEC has mandated that the largest public mpanies begin using Extensible Business Reporting Language technology when filing their financial statements. XBRL technology promises to make financials easier to mpare and analyze across different mpanies and industries. The IMA mmittee will include nine volunteer members who will lead the IMA’s efforts to enable management acuntants to be more effective and efficient in using the technology for activities such as internal business reporting and analysis (e.g., operational and business unit reporting), business intelligence, data mining, nsolidations, transaction processing, and other business processes.

“The benefits of XBRL go far beyond external financial reporting and into the untapped needs of the business mmunity,” said Kim Wallin, chair of the IMA XBRL Advisory mittee, and state ntroller of Nevada. “Our mmittee is also focused on the internal information needs of CEOs, CFOs, and ntrollers as they seek the tools and technologies that enable them to make better-informed decisions in real-time. XBRL helps them achieve that goal, and we will focus on driving XBRL throughout the enterprise, from general ledger transactions to -level management reporting.”

IMA’s XBRL Advisory mittee has two working groups, including an Outreach Working Group that manages internal advocacy and outreach about XBRL and provides mmunications to IMA members and other stakeholders. The group will work toward building strategic partnerships with other anizations around the world.

Separately, the American Institute of CPAs has released a history of XBRL, “The Story of Our New Language,” dating back to 1998 when a CPA, Charlie Hoffman, is credited with originating the technology.