Pepsico CEO Praises XBRL Even If Dim Witted Analysts Don't Get it
CFO Magazine reports that PepsiCo CEO Indra Nooyi, who was the company's CFO, praised the benefits of XBRL and said the cost of initiating its use was minor. As a participant in the SEC's XBRL pilot program, Pepsi filed four regulatory forms, spending $5,000 in up-front costs for its first filing, which including outsourcing XBRL coding of its financials. For the second filing, the cost and labor hours involved "dropped dramatically," the former CFO said. "All in all, the implementation of XBRL has been relatively painless and inexpensive." She did say one analyst who wasn't familiar with XBRL called to complain the company's reports were gibberish...http://www.cfo.com/article.cfm/7994945/c_7993860?f=home_todayinfinance
