Process Improvement Effective January 1, 2018, proposed Taxonomy Improvements to this Accounting Standards Update will have a formal comment period concurrent with the issuance of the Accounting Standards Update. This replaces the past practice of an annual 60-day comment period on the entire Taxonomy. FASB Staff Issues Proposed GAAP Taxonomy Improvements for a Proposed Accounting […more]
In this issue:
- non-GAAP adjustments
- executive compensation
- Rite Aid Corp. and negative goodwill
- corporate income taxes
Attend this one-hour session for a review of the DQC public review ruleset 15, and learn how the SEC and FASB leverage the DQC rules. The public review includes nine rules specific to US GAAP filers, and one rule specific to IFRS filers. Categories of errors these rules are designed to identify, range from incorrect use of certain axes to problems in the consistency of facts reported over time.
The XBRL US Center for Data Quality kicked off its 15th public exposure period on April 15 and the comment period closes on May 31, 2021. The 45-day review period includes freely available, proposed rules. The Data Quality Committee seeks comment on nine new rules, including Fact Value Consistency Over Time for filers using the […more]
SEC filers that are Small Reporting Companies and foreign private issuers should attend this 60-minute session on Inline XBRL and cover page tagging. Find out how and why investors and analysts use XBRL-formatted financials from small cap companies.
May, 2021 Financial Transparency Act (FTA) reintroduced to 117th Congress. This important bill, if passed, calls for eight financial regulatory agencies to require data standards for their reporting entities. The FTA was reintroduced on May 4, 2021, as H.R. 2989 by co-sponsors Carolyn Maloney (D-NY) and Patrick McHenry (R-NC). Agencies named in the bill include […more]
The Data Quality Committee released version 14 of freely-available rules and guidance in February.These 66 rules are automated checks helping US GAAP and IFRS filers detect and resolve inconsistencies or errors in XBRL-formatted financials before submission to the Securities and Exchange Commission.
Sustainability and climate issues remain in the headlines in the US and Europe. US Treasury Secretary Janet Yellen gave a compelling speech this month outlining Treasury’s “whole-of-government” approach to climate change, emphasizing the importance of ESG data, and Treasury’s intent to work with the Securities and Exchange Commission (SEC) to ensure an effective approach to […more]
The US SEC knows a good thing when it sees it. They support the Data Quality Committee rules in the 2021 US GAAP Taxonomy.
Are you using a tool or service that checks your filing with these rules? Finding and fixing issues identified prior to filing gives the markets a clear picture of your company financials.
See real-time company-specific data quality filing results.
The Data Quality Committee (DQC) seeks comment through Monday, May 31 on nine new rules for filers using the US GAAP and IFRS Taxonomy for US SEC reporting. XBRL US Members and public company personnel can use our secure service to check their filings with version 15, which includes approved and public exposure rules.