Items tagged with "standards"

How well do you tick and tie your XBRL?

David Tauriello, Vice President, Operations, XBRL US Since the U.S. Securities and Exchange Commission (SEC) mandated XBRL formatting for periodic reporting almost 10 years ago, the age-old, critical accounting task of ‘tick and tie’ has become a digitally-driven task for public company reporting personnel and their partners. Creating good quality, computer-readable financials is more than […more]

Point of View

How well do you tick and tie your XBRL?

David Tauriello, Vice President, Operations, XBRL US

Learning where to find, as well as how to build, influence and use Data Quality Committee and XBRL US resources is an essential part of hands-on professional development necessary to financial reporting. This month, we added recognitions to the XBRL Achievements program to acknowledge individuals who are actively raising quality of, and using, standardized data.

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.

XML, CSV, XBRL – what’s the difference?

David Tauriello, VP Operations, XBRL US

Formats are sometimes mistaken as financial data standards by regulators, government agencies and businesses. It’s a misunderstanding with significant consequences for comprehensive, comparable, interoperable data collection and use.