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XBRL US publishes 2009 Release of US GAAP Taxonomies for SEC XBRL mandate
On April 21, 2009, XBRL US released and posted the updated digital dictionary (taxonomy) for US GAAP reporting which has been accepted by the Securities and Exchange Commission (SEC). The 2009 release includes hundreds of accounting and industry-specific revisions to the 2008 release, including new FASB pronouncements. Public companies can use the updated taxonomies to incorporate these changes into their XBRL-formatted financial statements in time for the SEC mandate. XBRL US is responsible for maintaining the US GAAP Taxonomies under contract with the SEC. The taxonomies can be viewed and downloaded at http://xbrl.us/Pages/US-GAAP.aspx.
Read the news release:
http://xbrl.us/News/Pages/20090421.aspx
XBRL US survey finds most companies ready for SEC's XBRL reporting mandate
At least 340 of the estimated 500 public companies that the SEC requires to begin filing in XBRL format in June 2009 have already converted their financial statements to XBRL. The XBRL US survey was conducted among leading filing agents, who represent only a subset of the companies who will have to comply in the first phase of the SEC mandate.
Read the news release:
http://xbrl.us/News/Pages/20090507.aspx
SEC to host public seminar on XBRL requirements
To help public company preparers comply with the new XBRL reporting rules, the SEC will be holding a public forum at their Washington, DC offices at 100 F Street, NW on June 10, 2009.
Learn more:
http://sec.gov/news/press/2009/2009-114.htm
Corporate Actions Conference hosted by XBRL US and Securities Operations Forum, in New York City on May 28, 2009
This event will feature speakers from the SEC, the Depository Trust & Clearing Corporation (DTCC), SWIFT, Pipeline Trading, the National Investor Relations Institute, Citi, the FDIC, NYSE Euronext, Vanguard, Brown Brothers Harriman and more. The event will describe how information standards for corporate actions combined with technology standards through XBRL can bring issuers closer to investors, result in more accurate and timely information and dramatically reduce processing costs. The one-day conference will culminate in the unveiling of a new technology for corporate actions data based on XBRL. Interactive expert panels and in-depth presentations will provide the details of this new approach to corporate actions data and offer an opportunity for participants to network with experts from around the industry.
Learn more and register:
http://www.soforum.com/conferences
/conference_agenda.php?cid=990174
New podcast series on XBRL for corporate actions
The first podcast in the new series features Bill Lutz of the SEC and Max Mansur of SWIFT discussing the possibilities for using XBRL for corporate actions information. In the second podcast, "Global Standards, Corporate Actions and XBRL", David Hands of The Depository Trust & Clearing Corporation (DTCC )and Karla McKenna of Citi explain how implementing standards can improve the flow of information from issuers to investors. To listen, visit our podcast page at http://xbrl.us/News/Pages/Podcasts.aspx
Congressional bill would mandate XBRL to standardize government's collection, analysis and reporting of business information
House Committee on Oversight and Government Reform ranking member Rep. Darrell Issa has introduced legislation that would require the use of XBRL for government reporting of business information. The measure, proposed on May 14, 2005, is intended to improve the effectiveness of the Federal Government's collection, analysis, and dissemination of business information through the use of XBRL formatting. The Government Information Transparency Act (H.R. 2392), would standardize the collection of business information throughout agencies and mandate the updating of the elements used for reporting. It would require agencies to use XBRL and require that collected information be made readily available for public access.
Click here to read the legislation:
http://republicans.oversight.house.gov/
media/legislation/20090514GITAct.pdf
Read the news release:
http://issa.house.gov/index.cfm?FuseAction=News.PressReleases
&ContentRecord_id=458f513a-19b9-b4b1-12fd-e70581e8577f
SEC Filer Training Workshops led by XBRL US taxonomy experts to be held in San Francisco - CPE credit now available!
Experts from the XBRL US project team that developed the US GAAP Taxonomies will be teaching an in-person training workshop to educate preparers on how to create XBRL-formatted financial statements for mandatory submission to the SEC. This hands-on session will demonstrate how to use the XBRL US GAAP Taxonomy and how to convert primary financial statements and block tag footnotes into XBRL format. All attendees will leave the workshop with a completed XBRL-formatted financial statement and a repeatable step-by-step guide. The next workshop will be held in San Francisco on September 16, 2009. Preparers can register for this workshop at http://xbrl.us/events/Pages/Training.aspx
XBRL US to conduct Pacific Rim Workshop in July - registration open!
XBRL US will hold a workshop for technologists, XML developers, and product managers in Santa Clara, CA July 28 - 30, 2009. Attendees will have the opportunity to brainstorm and network with industry leaders on topics related to XML-based data and technology standards and taxonomy management.
Register for this event:
http://xbrl.us/events/Pages/PacificRim.aspx
Free educational webinar series helps filers get ready for SEC mandate
XBRL US continues its ongoing series of free live webinars designed to help companies implement XBRL reporting. The program includes key steps, decisions and considerations for implementing XBRL, insight from SEC representatives who will provide updates on proposed regulatory activities, how to use a taxonomy and demonstrations on how create XBRL-formatted financial statements. The next webinars will be held May 27, 2009 and June 17, 2009.
Register for upcoming webinars:
http://xbrl.us/events/Pages/current.aspx
XBRL US welcomes new member Globe Tax Services
Globe Tax Services, Inc. provides withholding tax recovery and market reference data services, covering over 230 jurisdictions and filing over 2 million reclaims a year. Founded in 1992 with offices in New York, London and Milan, the firm services the securities and funds industries and has clients in 38 jurisdictions. Globe Tax is the market infrastructure provider for tax reclaims for ADRs and NYRSs as the appointed agent for the issuing depositary banks.
Please visit the XBRL.US website to learn more about all of our members at:
http://www.xbrl.us/about/Pages/members.aspx
Join Us - XBRL US is the national consortium for xml business reporting standards and developers of the XBRL US GAAP Taxonomies. Our members are committed to engaging and collaborating with other members, contributing to the standard through involvement of their teams, and striving to build awareness and educate the market. Members of XBRL US represent the full range of the business reporting supply chain. Find out more about the benefits of membership and how to become involved. |