Imagine spending two years learning a new language. You begin to master the nuances of this language and become proficient enough to use it to communicate. You can eventually use it with confidence to express your thoughts and ideas with some precision. Then you wake up one day and learn the world around you is speaking a new language.

Such is the fate of those of us who labored to learn the 2009 US GAAP Financial Reporting Taxonomy. In total, more than 4800 XBRL financial reports have been submitted to the SEC using this set of rules and definitions.  In 2011, the game twists with the introduction of a new taxonomy that includes more than 4000 changes of all shapes and sizes: Read the rest of this entry »