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.
News from XBRL International
- EC and Inline XBRL - January 11, 2019
- OIM and xBRL-JSON Progress - January 11, 2019
- Robot Criminals Cuffed - January 11, 2019
- New Reporting Rules for Ukraine’s Banks - January 11, 2019
- Sustaining Partner News - January 11, 2019
- Draft 2018 Exchange Transaction Fee Summary Schema for NMS Stocks - December 21, 2018
- Proposed Update to Future* U.S. GAAP Financial Reporting Taxonomy – Codification Improvements for Lessors - December 19, 2018
- IFRS Foundation Publishes Proposed Update to the IFRS Taxonomy 2018 - Proposed Update 2 General Improvements - December 12, 2018
- Proposed Update to Future* U.S. GAAP Financial Reporting Taxonomy – Codification Improvements– Financial Instruments - December 12, 2018
- Draft 2019 SEC XBRL Taxonomies - November 30, 2018
From the Federal Register
- Adoption of Updated EDGAR Filer Manual - December 26, 2018
- Modernization of Property Disclosures for Mining Registrants - December 26, 2018
- Request for Comment on Earnings Releases and Quarterly Reports - December 21, 2018
- Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts - November 30, 2018
- List of Rules To Be Reviewed Pursuant to the Regulatory Flexibility Act - November 27, 2018
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 has submitted a comment letter responding to the SEC request for comment on the List of Rules to be Reviewed Pursuant to the Regulatory Flexibility Act. The Regulatory Flexibility Act requires a 10-year review of rules that may impact small businesses. Rules included in the list pertaining to XBRL are: Interactive Data to […more]
The 2019 GAAP Financial Reporting Taxonomy contains updates for accounting standards and other recommended improvements. The 2019 SRT contains updates for the SEC’s authoritative literature in which the underlying recognition and measurement are not specified by GAAP and dimensional elements whose underlying recognition and measurement are not specified by GAAP but that are elements used by GAAP filers.
Today, the SEC published a request for comment on the nature, content, and timing of earnings releases and quarterly reports made by reporting companies, with an eye towards reducing the burden on public companies while at the same time enhancing the value of the disclosures to investors. Areas they seek to address include: The nature […more]
In the current public exposure period of rules and guidance for public company filers, the Data Quality Committee (DQC) seeks comment on version 8 of the DQC Rules for Extension Members for US GAAP and IFRS filings and Negative Values for IFRS filings only through Friday, February 1, 2019.
In this issue:
- Lease accounting: FedEx vs. UPS.
- Our updated lease accounting guide.
- Find historical trend data: an example.
- Analysts, does this sound familiar?
- Geeking Out on the Filings
Cost of revenue, SG&A: a Q3 update.
SEC comment letters: The Amazon Example.
The IASB has published a Proposed IFRS Taxonomy Update: General Improvements, with a 60 day comment period ending on February 4, 2019. Materials related to the draft taxonomy are available from Project News or the IFRS project webpage including: 20 minute webcast that provides a high level summary of the project and its proposals (accessed […more]
Preparing a perfect turkey is critical for a successful Thanksgiving. Preparing quarterly financial statements is another activity where “getting it right” is critical. The risk of mistakes has significant downsides, ranging from SEC sanction to negatively affecting your company stock price.
In a speech to the Institute of Chartered Accountants in England and Wales, SEC Commissioner Kara Stein reiterated SEC support for inline XBRL as a means to improve the quality of structured data for investors.