The Financial Accounting Standards Board (FASB) Staff recently issued an update to the Frequently Asked Questions about the U.S. GAAP Financial Reporting Taxonomy (FAQ) to include new guidance for preparers on addressing the deprecation of the “Report Date [Axis]” (CreationDateAxis) with the 2019 Taxonomy Update. The FAQ is available on the FASB website.
On March 21, 2019, XBRL US submitted a comment letter responding to the SEC proposal, Request for Comment on Earnings Releases and Quarterly Reports stating our support for quarterly filing. Quarterly reporting is beneficial to investors, other data consumers, and to reporting entities. The earnings announcement and the Form 10-Q are very different documents, and […more]
In this issue: SEC Staff to Hold Spring Fintech Forum on Distributed Ledger Technology and Digital Assets SEC Fee Rate Advisory #2 for Fiscal Year 2019 SEC Releases EDGAR 19.1
On March 13, 2019, XBRL US submitted a comment letter responding to the SEC proposal, Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts, File Number S7-23-18. Variable annuities represent a $96 billion industry, according to LIMRA Secure Retirement Institute (2017 figures)*. XBRL US supports the Commission proposal to require reporting […more]
Ez-XBRL Solutions, Inc. announced today its new Inline XBRL (iXBRL) solution that enables SEC registrants to rapidly convert their existing XBRL tagged data to the iXBRL format. Read the press release.
On March 11, 2019, the SEC EDGAR system was upgraded to Release 19.1 and now supports the 2019 U.S. GAAP, 2019 SEC Reporting (SRT), 2019 Currencies (Currency), and 2019 Exchanges (EXCH) taxonomies. The 2019 U.S. GAAP financial reporting taxonomy and the 2019 SEC Reporting Taxonomy reflect the same taxonomies that FASB made available on its […more]
January/February 2019 Legislative and Regulatory News Federal Energy Regulatory Commission Publishes Proposal to Require XBRL for Utilities Reporting Open Government Data Act Passed GREAT Act Passes the U.S. House of Representatives Federal Energy Regulatory Commission Issues RFP for XBRL Solution XBRL US News SEC Comment Letter on Proposed Collection of Interactive Data XBRL US Publishes […more]
XBRL US has submitted a comment letter responding to the Federal Energy Regulatory Commission (FERC) proposal to require the use of XBRL for reporting Commission Form Nos. 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 6-Q, 60, and 714 for utilities. The Commission proposal sought input first, on whether the XBRL standard should be […more]
On February 22, 2019, the Federal Energy Regulatory Commission (FERC) published an RFP to replace their current VFP Forms and applications with a technical XBRL solution that allows filers to file in a system that uses XBRL and to allow Commission staff to update taxonomies, filing, and reporting requirements for these Forms independent of IT […more]
In February, 2019, the Data Quality Committee – a collaborative of public companies, providers and data users working to improve standardized financial reporting – approved version 8 of freely-available rules and guidance to help filers using US GAAP and IFRS Taxonomies supported by the US Securities and Exchange Commission detect and resolve inconsistencies or errors in XBRL-formatted financial data.
The national consortium for
the business reporting standard
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