New elements can be used to create XBRL-formatted financials today to meet the SEC mandate

WASHINGTON, Sept. 23 /PRNewswire/ -- XBRL US, the non-profit nsortium for business reporting in XML, announced that it has published a set of over 200 new elements to reflect new FASB acunting standard changes issued since December 31, 2008. Some of these new standards are eligible for early adoption by public mpanies for annual and interim periods ending on or prior to December 31, 2009. XBRL US has developed US GAAP Taxonomy 2009 Addendum-1 that ntains the new elements and, when opened, imports the US GAAP Taxonomy 2009 so that the new elements can be used by public mpanies preparing their financials in XBRL format. XBRL US has also made these new elements available in the XBRL US Review tool where visitors can review them and offer mments.

The new FASB standards inrporated include only those that are deemed critical for mpanies preparing financial statements before the US GAAP Taxonomy 2010 is published. The XBRL US GAAP Taxonomy is published once each year to avoid nfusion over which release should be used and to ensure the greatest mparability of data. In the event of a substantial number of new acunting standards, XBRL US publishes an addendum taxonomy such as this one, so that mpanies that need to use the new FASB pronouncements do not have to create new extensions and so that every mpany using the new standard uses the same element.

"US GAAP Taxonomy 2009 Addendum-1 is provided to rce the effort required to create new elements from scratch when changes in acunting standards require new line items," said Campbell Pryde, Chief Standards Officer, XBRL US, "We are in nstant dialogue with the FASB and will ntinue to streamline the process for preparers."

To learn more about the new FASB pronouncements included and to view and use the new elements, visit http://xbrl.us/taxonomies/publicreviews/2009/gaapext1/Pages/default.aspx.