Items tagged with "standards"

Keep Calm and Check Your Work!

Lou Rohman, Vice President, XBRL Services, Merrill Corporation; Chair, XBRL US Data Quality Committee

Accountants are sticklers for checking their work. They rely on disclosure and accounting checklists, and now on Data Quality Rules to catch errors in their XBRL financials. The XBRL US Data Quality Committee also performs periodic checks on their own work, and have proof that their rules and guidance are improving the accuracy of corporate XBRL financials.


Point of View

Keep Calm and Check Your Work!

Lou Rohman, Vice President, XBRL Services, Merrill Corporation; Chair, XBRL US Data Quality Committee

Accountants are sticklers for checking their work. The XBRL US Data Quality Committee also checks their own work, and now has proof that their rules and guidance are improving the accuracy of corporate XBRL financials.


How well do you tick and tie your XBRL?

David Tauriello, Vice President, Operations, XBRL US

Reporting supply chain participants – public company personnel and partners, regulators, analysts and researchers – know the value of telling a company’s story with standardized data. And now, XBRL Achievements are showing up on LinkedIn and other professional/social networking platforms to let colleagues and other professionals know who sets and keeps the pace in a transformed reporting environment.


XBRL. A Free & Open Reporting Standard.

Michelle Savage, Vice President, Communication, XBRL US

The XBRL standard is a free, open, non-proprietary, financial data standard, developed and maintained by a global, not-for-profit standards body. Free and open standards are critical for governments and businesses looking to adopt a standard.


Data Quality Committee Responds to FASB Invitation to Comment

The XBRL US Data Quality Committee responded to FASB’s Invitation to Comment on Efficiency and Effectiveness of GAAP Financial Reporting Taxonomy.


Automating Work-in-Process (WIP), Improving Contractor Access to Credit

Marcum LLP successfully created a computer-readable WIP report to help contractor clients provide financial performance data to surety carriers that can be automatically extracted with no rekeying of data. Marcum created the report by performing a one-time mapping using a spreadsheet add-in that converted the WIP data into XBRL format. XBRL is an open data […more]


Automation Improves Underwriting Process for Contractors and Sureties

The Hartford demonstrates how a one-time investment in data standards can be used by brokers to streamline their own data processing; and by surety carriers to eliminate the need for manual data entry, improve the credit evaluation process and offer better service to contractor customers.


Embed Your Opinion … on Inline XBRL

Campbell, President and CEO, XBRL US

How companies report their financials can have a big impact on investing, and ultimately on the economy. That’s why issuers, analysts, investors and data analytics providers, as well as XBRL tool and service providers should comment on the SEC’s new rule proposal for Inline XBRL.


XBRL US Commends SEC Vote to Propose Requiring Inline XBRL for Public Companies

New rule would improve efficiency of SEC filing XBRL US today applauded the unanimous vote by the Securities and Exchange Commission (SEC) to publish a rule proposal requiring public companies to submit their periodic financial statements and footnotes using Inline XBRL. The Inline XBRL submission would replace the current practice of dual XBRL and HTML […more]


What can the solar industry learn from the grocery business?

Jonathan Previtali, Vice President, Environmental Finance Group, Wells Fargo and Michelle Savage, Vice President, Communication, XBRL US

In 1974, the first Universal Product Code (UPC) was scanned in Troy, Ohio, automating what had been a manual process for recording sales. The first item scanned was a pack of Wrigley’s chewing gum. The UPC revolutionized the retail grocery business, using technology standards to wring costs out of a process that required the collection of massive amounts of data.