The SEC published the draft DEI Taxonomy, 2020 update, for a public review and comment period ending May 27, 2020. Comments on the draft 2020 update to the DEI taxonomy should be sent via email to StructuredData@sec.gov using “Draft 2020 DEI Taxonomy” as the subject of the email. Access the taxonomy: https://www.sec.gov/structureddata/osddrafttaxonomyfiles Read the announcement: https://www.sec.gov/structureddata/announcement/osd-announcement-032720-draft-2020-dei-taxonomy
News from XBRL International
- XBRL International welcomes Wes Bricker - May 29, 2020
- Green Reporting Headed Digital? - May 29, 2020
- ESEF Tests - May 29, 2020
- ESG “Scores” unhelpful for Investors - May 29, 2020
- Africa’s Standard Bank urges Regulators to ease Digital Trade - May 29, 2020
- SEC Interactive Data Test Suite Update 53.2d-200515 - May 19, 2020
- No Proposed Update to U.S. GAAP Financial Reporting Taxonomy for Revenue from Contracts with Customers and Leases: Effective Dates for Certain Entities - April 23, 2020
- Draft Closed-End Fund (CEF) Taxonomy - April 8, 2020
- Draft 2020 Document and Entity Information (DEI) Taxonomy - March 27, 2020
- 2020 FASB Taxonomy Implementation Guides - March 26, 2020
From the Federal Register
- Securities Offering Reform for Closed-End Investment Companies - June 1, 2020
- Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts - May 1, 2020
- Financial Disclosures About Guarantors and Issuers of Guaranteed Securities and Affiliates Whose Securities Collateralize a Registrant's Securities - April 20, 2020
- Revisions to the Filing Process for Commission Forms; Notice Inviting Post-Technical Conference Comments - April 2, 2020
- Electric Transmission Incentives Policy Under Section 219 of the Federal Power Act - April 2, 2020
The SEC announced the availability of FASB Implementation Guides covering the following topics: Accounting Changes Financing Receivable and Current Expected Credit Loss Disclosures Insurance—Long-Duration Contracts Leases under Topic 842 Retirement Benefits—Phase 3 Revenue from Contracts with Customers (Including Statement Presentation of Revenue and Cost of Revenue) Read the announcement. Access the guides.
The new rule changes the definition of accelerated and large accelerated filers, and requires a new check box to be added to the cover page of 10-Ks, 20-Fs, and 40-Fs, which must be tagged in Inline XBRL.
Amendments introduce a decentralized consolidation model which will allow competing consolidators to collect and disseminate market quote and transaction data. The rule also proposes alternatives including the use of Inline XBRL for new Form CC, which includes general and business information, services and fees, as well as operational capability information. Comments are due by June 24, 2020.
Cites goal of providing more information to global markets, and holding governments accountable for management of oil, gas, and mineral resources.
Amendments require the use of Inline XBRL for certain required disclosures in the variable contract statutory prospectus. In addition, the SEC published a draft Variable Insurance Product (VIP) Taxonomy which has been posted for a 90-day public review.
XBRL US submitted a comment letter to the Securities and Exchange Commission’s Office of Municipal Disclosures in advance of their scheduled conference “Spotlight on Transparency: A Discussion of Secondary Market Municipal Securities Disclosure Practices”. The XBRL US letter advocated for the use of data standards for state and local government reporting and asked that the […more]
Now includes Single Audit Report schedules for municipalities and other federal grantees XBRL US announced today the public review of the third version of the demonstration Comprehensive Annual Financial Reporting (CAFR) Taxonomy, which now includes seven financial statements, two footnotes, and two schedules from the Single Audit Report. The taxonomy will be published for a […more]
February, 2020 XBRL continues to gain traction in regulatory and government reporting. On the SEC filing front, the FASB has incorporated XBRL US DQC rules into the 2020 US GAAP Taxonomy which is a big win for data quality. Separately, XBRL US submitted a comment letter on the SEC’s proposal that XBRL be required for […more]
XBRL US submitted a comment letter weighing in on the SEC proposal that fees and calculation tables in fee-based tables be prepared in Inline XBRL format. XBRL US supports the proposal and agrees with the Commission that structuring fee data will improve the efficiencies of the fee validation process for SEC staff, and will increase […more]