FASB Launches Public Review for DQCRT

The Financial Accounting Standards Board (FASB) announced the start of a public review period for the proposed 2023 DQC Rules Taxonomy (DQCRT) which adds the following DQC Rules: • DQC 0013: Negative Values with Dependence • DQC 0015: Negative Values • DQC 0047: Calculation Descendants with No Balance Type • DQC 0053: Excluded Members from […more]


SEC Final Rule on Pay Vs Performance Requires Inline XBRL

The Securities and Exchange Commission (SEC) announced their final rule on Pay Versus Performance, which requires issuers to disclose in any proxy or consent solicitation material compensation-related information including the relationship between executive compensation paid and financial performance of the issuer. The final rule requires registrants to separately tag each value disclosed in the table, […more]


SEC Announces EDGAR Upgrade to Support FASB Q3 Supplemental GAAP Taxonomy

The Securities and Exchange Commission (SEC) announced today that they have upgraded the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system to Release 22.2.2 and now supports the 2022 Q3 supplemental U.S. Generally Accepted Accounting Principles (GAAP) Financial Reporting Taxonomy and 2022 Q3 supplemental SEC Reporting Taxonomy (SRT). The 2022 Q3 supplements to the US […more]


FASB Announces SEC Accepts Q3 Supplemental GAAP Taxonomy

The Financial Accounting Standards Board (FASB) announced that the Securities and Exchange Commission (SEC) has accepted the 2022 Q3 Supplemental GAAP Taxonomy. Read the FASB Announcement: SEC Accepts 2022 Q3 Supplemental GAAP Taxonomy (August 162022)  


XBRL US Comments on SEC Proposal on Enhanced ESG Disclosures for Investment Companies

XBRL US submitted a comment letter responding to the Securities and Exchange Commission (SEC) proposal on Enhanced Disclosures by Certain Investment Advisers and Investment Companies about Environmental, Social, and Governance Investment Practices. This proposal would require funds to provide disclosures regarding ESG strategies; and furthermore, to tag these disclosures in Inline XBRL format. Disclosure of […more]


XBRL US Comments on SEC Proposal on Investment Company Names

XBRL US submitted a comment letter responding to the Securities and Exchange Commission (SEC) proposal on Investment Company Names. This proposal would require funds to to enhance investor protection through greater clarity and transparency in fund names; and by improving the disclosure requirements for fund terminology by requiring narrative disclosures about a fund’s 80% investment […more]


XBRL US Comments on FASB Q3 Supplemental GAAP Taxonomy

XBRL US commented on the Financial Accounting Standards Board (FASB) Q3 Supplemental GAAP Taxonomy which contains concepts to help Business Development Companies (BDC) meet their new tagging requirements in addition to other improvements. Review the FASB Announcement about the public comment  period. Read the XBRL US letter:XBRL US Comment on FASB Q3 Supplemental GAAP Taxonomy, […more]


Public Exposure for Comment – Data Quality Committee Rules and Guidance

Friday, July 15 - Wednesday, August 31, 2022
XBRL US Public Review
Read about rules and comment

The XBRL US Center for Data Quality kicked off its 19th public exposure period on July 15 and the comment period closes on August 31, 2022. The 45-day review period includes freely available, proposed rules. The Data Quality Committee seeks comment on three new rules and an Investment Schedule Guidance FAQ for US GAAP taxonomy […more]


Newsletter for the Reporting Standard of Business and Government

August, 2022 The Small Business Administration (SBA) streamlined their Surety Bond Guarantee Program with XBRL automation. The head of the SBA, Administrator Isabella Casillas Guzman, noted in their release, “SBA’s Surety Bond Guarantees are critical for small businesses to be able to qualify, compete for, and complete major projects—including many of the improvement projects being […more]


July 2022 Newsletter

July, 2022 Michigan State appropriates funding for preparation and collection of local unit government disclosures in XBRL. House Bill 5783 was signed by Governor Whitmer and includes appropriations for fiscal years 2022 and 2023. The IT funding is to be used by Michigan State Treasury to develop an IT strategy focusing on machine-readable (XBRL) financial […more]