The FASB approach to incorporating new ASUs into XBRL data standards.
News from XBRL International
- EU: Expand XBRL Reporting to Include Climate Change Disclosure - February 21, 2020
- Big Data for Central Banks - February 21, 2020
- South Korea Launch Data Exchange - February 21, 2020
- Who Else Needs the LEI? - February 21, 2020
- XBRL US Data Quality Checks Now Available inside FASB Taxonomy - February 21, 2020
- SEC Interactive Data Test Suite Update 53.1d-200210 - February 11, 2020
- Removal of Investment Schedule (INVEST) Taxonomies - February 4, 2020
- Standard Taxonomies Page Update - January 16, 2020
- Proposed Update to Future* U.S. GAAP Financial Reporting Taxonomy—Codification Improvements - December 11, 2019
- Updated Order Routing and Handling Data Schema and Report Renderer for Broker-Dealers Available for Use - December 10, 2019
From the Federal Register
- Adoption of Updated EDGAR Filer Manual - February 19, 2020
- Use of Derivatives by Registered Investment Companies and Business Development Companies; Required Due Diligence by Broker-Dealers and Registered Investment Advisers Regarding Retail Customers' Transactions in Certain Leveraged/Inverse Investment Vehicles - January 24, 2020
- Revisions to the Filing Process for Commission Forms; Notice of Extension of Time and Rescheduling of Technical Conference - January 22, 2020
- Amendments to Rule 2-01, Qualifications of Accountants - January 15, 2020
- Disclosure of Payments by Resource Extraction Issuers - January 15, 2020
The 2020 GAAP Financial Reporting Taxonomy contains updates for accounting standards and other recommended improvements, including an initial set of Data Quality Committee Rules.
The SEC published a rule proposal on Disclosure of Payments by Resource Extraction Issuers. The rule would require resource extraction issuers to include in an annual report information relating to payments made to a foreign government or the Federal Government for the purpose of the commercial development of oil, natural gas, or minerals. Section 13(q) requires these […more]
XBRL US submitted a comment letter responding to the SEC proposal, Update of Statistical Disclosures for Banks and Savings and Loan Registrants. The letter noted that we strongly disagree with the proposal as stated which does not require the use of data standards for reported information that is highly financial in nature. Data reported through Guide […more]
October / November 2019 Legislative and Regulatory News ROC of the LEI Seeks Comment on LEI for Government Entities SEC Proposes Inline XBRL for Fee Calculation Tables and Fee Footnotes Senate Passes GREAT (Grant Reporting Efficiency and Agreements) Act SEC Proposes Update of Statistical Disclosures for Banks and Savings and Loan Registrants FASB Proposes Updates […more]
Building a taxonomy is a team effort. Found out how the US GAAP Taxonomy was developed, and how it’s maintained today.
SEC filers, investors, XBRL providers encouraged to review and comment The XBRL US Data Quality Committee (DQC) has published its 11th Ruleset for a 45-day public review and comment period, which closes on January 3, 2020. DQC rules aid issuers in preparing consistent, error-free financials, by providing automated checks that test an XBRL-formatted financial statement […more]
The Data Quality Committee (DQC) seeks comment on version 11 of the DQC Rules for SEC filings through Friday, January 3, 2020. XBRL US Members and public company personnel can use our secure service to check their filings with approved and public exposure rules.
The Securities and Exchange Commission’ Fixed Income Market Structure Advisory Committee held a meeting on November 4, 2019 which addressed “Structured Disclosures by Municipal Issuers” featuring XBRL US CEO Campbell Pryde. Key messages conveyed during the panel included how XBRL data standards can be used to improve the efficiency and effective of municipal reporting. Separately, […more]
The Securities and Exchange Commission’ Fixed Income Market Structure Advisory Committee held a meeting on November 4, 2019 which addressed “Structured Disclosures by Municipal Issuers” featuring speakers from Municipal Securities Rulemaking Board (MSRB), Will County, IL, Municipal Market Analytics, XBRL US, and the Securities and Exchange Commission. Marc Joffe and Spencer Purnell of XBRL US […more]