Updates

Posted Tuesday, June 30, 2020

Newsletter for the Reporting Standard of Business and Government

June, 2020 XBRL US CEO blogs about “Single audit, data standards and the GREAT Act”. President and CEO Campbell Pryde explains the importance of understanding all the facts behind how Single Audit reports are prepared today, and how data standards required in the GREAT Act are designed to improve the process for grantees, auditors, government […more]

Posted Wednesday, June 24, 2020

FASB Publishes US GAAP Taxonomy Q&A on COVID-19 Disclosures

The Financial Accounting Standards Board (FASB) published a new Q&A that covers applying the US GAAP Financial Reporting Taxonomy on disclosures related to effects of COVID-19. Topic areas covered include: Income taxes Payroll taxes Loans Grants Pensions Overall discussion of the COVID-19 pandemic.   Read the Q&A.

Posted Wednesday, June 24, 2020

SEC Updates Custom Tag Trend Analysis

The Securities and Exchange Commission published an updated analysis of custom tag rate trends which shows a slight decline in the use of custom tags (from 18% to 17%) for all filers. The biggest decline in the use of custom tags was from large accelerated filers which was offset by an increase among smaller reporting […more]

Posted Tuesday, June 23, 2020

SEC News from Novaworks Software

Posted this month: SEC Adopts Amendments to Improve Financial Disclosures about Business Acquisitions and Dispositions Reminder for Filers Who Obtain EDGAR Access Pursuant to Temporary Final Rule 10(c) New York Regional Office to Host Educational Call for Investors on Avoiding COVID-Related Fraud SEC Extends Relief for Virtual Meetings of Fund Boards and more news

Posted Tuesday, June 16, 2020

SEC Requests Comment on N-CEN Data Collection

The Securities and Exchange Commission announced a request for comment concerning the collection of data by investment companies on Form N-CEN, which is currently required to be reported in XML format. The request seeks information on: (a) whether the proposed collection of information is necessary for the proper performance of the functions of the agency, […more]

Posted Wednesday, June 10, 2020

The Calcbench Insider: June 2020

In this issue:

• Covid-19 Disclosures
• Earnings release & 10-K timing

Posted Tuesday, June 2, 2020

May, 2020 Newsletter

May, 2020 CAFR Taxonomy public review is closed. Multiple comments received. XBRL US concluded the public review for V0.3 of the CAFR Taxonomy which represents seven statements, two footnotes and several schedules for the Single Audit Report. Comments were received from the Governmental Accounting Standards Board (GASB), as well as individual states, including Tennessee and […more]

Posted Thursday, May 21, 2020

SEC Updates Interactive Data Test Suite

The Securities and Exchange Commission updated their interactive data test suite which is designed to assist filers using software to validate XBRL data prior to EDGAR submission. The test suite consists of small XBRL instances, schemas, and linkbases that are categorized as to whether they violate a validation check, and if so, what validation check […more]

Posted Monday, May 4, 2020

SEC Statement on Importance of Municipal Market Disclosure

SEC Chairman Jay Clayton and the SEC Director of the Office of Municipal Securities Rebecca Olsen, published a joint public statement on The Importance of Disclosure for our Municipal Markets, with a subheading “The Effects of COVID-19 Have Raised Uncertainties Regarding the Financial Status of State and Local Governments and Special Purpose Entities; Municipal Securities […more]

Posted Thursday, April 30, 2020

April, 2020 Newsletter

April, 2020 Economic difficulties brought on by the COVID-19 crisis highlight the value of timely, accurate, consistent data to aid in the administering of loan programs like the small business loans in the CARES stimulus package, and in other relief programs we’re likely to see down the road. Congress has approved billions in funds for […more]