The American Institute of CPAs (AICPA) is the world’s largest member association representing the accounting profession, with more than 400,000 members in 145 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical […more]
8th Ruleset published for public review and comment period The XBRL US Data Quality Committee (DQC) has finalized, approved, and published its 7th Ruleset which includes 13 types of validation checks for filings prepared using the US GAAP Financial Reporting Taxonomy as well as two guidance documents. The DQC also published an 8th Ruleset for […more]
XBRL US white paper “XBRL US Center for Data Quality, an industry initiative for the common good”, details timeline, milestone and accomplishments to date including significant reduction in errors, greater engagement with regulators and expanding usage of XBRL data.
The Data Quality Committee is soliciting input on the 7th Data Quality Ruleset during a public review and comment period that will end on September 10, 2018.
On August 16, the Global Banking & Finance Review published an article referencing the AICPA XBRL US study on the cost of XBRL preparation for small companies, stating: “The American Institute of CPAs (AICPA) and XBRL US have found that the cost of XBRL formatting for small reporting companies has declined 45 percent since 2014, according to an updated […more]
On August 15, the Journal of Accountancy published the article, “XBRL Costs for Small Reporting Companies Have Declined 45% Since 2014” , stating: “The cost of formatting financial statements in Extensible Business Reporting Language, or XBRL, for small reporting companies has plunged 45 percent since 2014, according to a new study by the American Institute of CPAs […more]
The Data Quality Committee has approved and finalized IFRS validation rules, along with US GAAP rules in its 6th ruleset. Foreign private issuers and US GAAP filers should use the rules by the June 29, 2018 effective date.
For the first time, the Data Quality Committee has published IFRS validation rules, along with US GAAP rules in its 6th ruleset. Foreign private issuers are encouraged to participate in the public review of these new rules.
XBRL US Data Quality Committee Publishes Guidance on Cash Flow, Principles for Element Selection, & New Rules for SEC Filers
XBRL US announced that the Data Quality Committee (DQC) has published guidance for tagging the Statement of Cash Flow, along with two new automated rulesets, to help issuers prepare their XBRL financial statements, in addition, to Guiding Principles for Element Selection.
XBRL US is governed by a Board of Directors, with annual nominations and voting by XBRL US member companies. Michael Becker Executive Vice President, International Business Strategy, Business Wire Al Berkeley Chairman, Princeton Capital Management Pranav Ghai CEO & Co-Founder, Calcbench Len Lipton Managing Director, Globe Tax Barry Melancon President and CEO, American Institute of […more]