XBRL: Practical Advice from an Early Adopter plus an Update on SEC Comments

In this Webcast, Michael Ohata, Managing Director, KPMG LLP, and Chairman of XBRL International, summarizes the comments the SEC received on the proposal. He is joined by Tom Jacob, Financial Manager - External Reporting, 3M Corporation, who describes how his company made the decision to adopt XBRL, its experience in implementing it, some of the costs involved, and recommendations for making process successful.

In summarizing some key implementation steps, Mr. Jacobs advised that companies become familiar with XBRL thru seminars, Webinars, and the XBRL website; identify an implementation team that includes external reporting professionals as well as appropriate technical support staff, corporate counsel, and external auditors; and explore alternatives for support, including third-party service providers and software alternatives.