SOURCE: UBmatrix, Inc.

June 17, 2008 13:45 ET

Webinar: The CFO's Guide to Complying With the SEC XBRL Mandate

On June 25th Expert Panel Will Discuss Steps Required to Meet the Proposed Mandate for XBRL Filings of SEC Reports

Legal and Financial Perspectives and Impact to Be Examined

REDWOOD CITY, CA--(Marketwire - June 17, 2008) - UBmatrix, Inc., the leading provider of XBRL information exchange solutions, is offering a free online seminar on June 25th for CFOs and senior financial executives on the recent SEC rule proposal for mandatory filing of SEC reports in XBRL.

Last month, the Securities and Exchange Commission (SEC) published a Rule Proposal that mandates interactive data (XBRL) filings of SEC reports for public companies, beginning with "large accelerated filers." Under the new rule, most Fortune 500 companies, among others, would be required to submit their SEC reports in XBRL beginning with fiscal periods ending December 15th, 2008 or thereafter. All public companies will eventually be required to file in XBRL under the new rule, in a phased approach over the next three years.

The online seminar, "The XBRL Mandate and Beyond," will feature a panel of financial and legal experts who will provide an overview of the SEC Rule Proposal and outline the steps necessary to comply with the rule, as well as best practices in adopting and using XBRL technology for financial information exchange and reporting. The panel includes Charlie Hoffman, one of the architects of the US GAAP taxonomy. The webinar will cover:

--  An Overview of the SEC Rule Proposal
--  An Overview of XBRL and its Use in Financial Information Exchange and
    Reporting
--  Legal Perspective on How to Comply to the XBRL Mandate
--  A Pragmatic, Step-by-Step Approach to Meeting the Mandate
--  How XBRL Can Be Extended to Improve Other Financial Processes
    

"The clock is ticking on the SEC Rule Proposal and companies have a limited time to implement and test an XBRL reporting solution," said Mike Makris, Chief Financial Officer of UBmatrix, Inc. "This online seminar is designed to give CFOs and senior financial executives the information they will need to come up to speed on and comply with the mandate."

The online seminar, "The XBRL Mandate and Beyond," will be presented on Wednesday, June 25th, 2008 at 1:00 PM Eastern Time and will be available for replay thereafter. Presenting as part of the online seminar will be:

--  Charles Hoffman, CPA, MBA, Co-architect of the US GAAP Taxonomy for
    financial reporting and member of the taxonomy creation team; Former Price
    Waterhouse auditor; Director of Innovation Solutions at UBmatrix; Received
    the AICPA's Innovation User of Technology award; Graduate of Pacific
    Lutheran; Charlie is the author of many white papers and publications
    including "Financial Reporting Using XBRL," "XBRL Essentials,"
    "Hitchhiker's Guide to the IFRS-GP Taxonomy."
    
--  Horace Nash, Partner at Fenwick & West, LLP; represents public and
    private companies in a wide range of matters. Counsels public company
    clients on governance matters and sensitive disclosure issues, provides
    securities regulation advice and leads capital-raising transactions. He
    represents companies in mergers and asset acquisitions or dispositions.
    
--  Mike Makris, CPA, MBA, CFO at UBmatrix; Former Vice-President and
    Corporate Controller at publicly held companies. Experience includes taking
    privately held companies public and leading public companies in meeting
    Sarbanes Oxley requirements. Mike's early career experience includes public
    accounting at KPMG and 11 years in various accounting and leadership roles
    for United Technologies (Fortune 100).
    

The seminar will be held on Wednesday, June 25 at 1:00 PM Eastern Time and will last approximately 45 minutes. Registrants will also receive a copy of the whitepaper, "What CFOs Need to Know about XBRL." Click here to register or register at www.ubmatrix.com.

About UBmatrix

UBmatrix, Inc. is the leading provider of XBRL-based information exchange solutions for global organizations and enterprises allowing them to more efficiently and effectively address the challenges of business and financial information management, exchange and reporting. XBRL is fast becoming the standard for financial information exchange and reporting demonstrated by the XBRL programs being driven by the SEC, FDIC and the European Central Bank Supervisors. UBmatrix XBRL solutions increase operational efficiency and financial transparency, and ensure reporting accuracy and regulatory compliance. UBmatrix is based in Silicon Valley with development centers in Bellevue, WA, and New Delhi, India. For further information, visit www.ubmatrix.com

Contact Information

  • For further information, contact:
    Dan Cahill
    (415) 552-3999 Office
    (917) 617-0106 Mobile
    Email Contact