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The 3-year phase-in

The SEC established a three-year phase-in for the mandatory provision of XBRL versions of 10K and 10Q filings. This is the thrid year. The number of companies requried to provide XBRL has grown in each year, with 2011 seeing the requirement cover all filers.

The SEC estimates that 2011 will see approximately 8700 companies filing in XBRL for the first time.

Increasing complexity over 2 years

In addition to the three-year phase-in, the SEC is also phasing in the level of detail required in the tagging of statements. First year tagging is straight-forward. Unfortunately there are no good estimates of the level of effort for second year, although some companies have experienced a 10-fold increase in the total number of tagged "fact" in their filing, and an associated huge increase in effort. As with first year tagging, the secret is planning ahead.