XBRL US and its members oppose Title IV – The Small Company Disclosure Simplification Act – of legislation under consideration today by the House of Representatives which would exempt companies with revenue less than $250,000,000 from submitting XBRL data to the US SEC.
XBRL US submitted a letter responding to the SEC’s Request for Comment on the rule proposal Effectiveness of Disclosures about Entities Other than Registrant. Recommendations made focus on reducing disclosure burden on public companies and improving the usefulness of data used by investors, analysts and other users of public company data. Key recommendations are: Eliminate […more]
Morningstar’s Jo Guo discusses the importance of financial fundamentals to stock research and why every public company should report the same information in the same fashion in this 8 minute video. She also covers why investors should determine what data is reported and how that data is reported, not the public companies themselves. And finally […more]
Read a recent California Society of CPAs blog article authored by XBRL US CEO Campbell Pryde on the importance of ensuring good quality in XBRL financials. http://blog.calcpa.org/how-important-are-your-xbrl-financials
In response to the SEC proposal on Investment Company Modernization, XBRL US submitted a comment letter on August 11, explaining the value of XBRL over XML as a more appropriate standard for the data investment companies would be required to submit. The SEC proposal recommends that two new forms be introduced to replace existing forms […more]
The national consortium for
the business reporting standard
