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]
Items tagged with "standards"
On March 20, the SEC finalized the FAST Act Simplification and Modernization of Regulation S-K Rule which includes a requirement for registrants to tag all cover page data in Inline XBRL. The objective of this section of the rule is to “further enhance investors’ use of interactive data to identify, count, sort, compare, and analyze […more]
On February 22, 2019, California State Senator John Moorlach introduced Senate Bill 598, legislation to enact the Open Financial Statements Act which, if passed, will do the following: Create the Open Financial Statement Commission, consisting of seven members appointed by the Governor Require the newly created Commission to contract with vendors to build an XBRL […more]
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]
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]
Richard Berner, Executive-in-Residence at the Center for Global Economy and Business at the NYU Stern School of Business, and Adjunct Professor in the Department of Economics, and Kathryn Judge, Professor of Law at Columbia Law School. from New York University and Columbia have written a white paper, The Data Standardization Challenge, which examines the numerous public […more]
The Federal Energy Regulatory Commission (FERC) posted a 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 proposal is out for a 30 day comment period which ends March 6, 2019. Read the proposal.
The GREAT Act (H.R. 150) unanimously passed the House of Representatives in the 116th Congress. The GREAT (Grants Reporting Efficiency and Agreements Transparency) Act calls for the creation of a comprehensive and standardized data structure (“taxonomy”) covering all reported federal grant and assistance data. Read the bill.
The Open (Open, Public, Electronic and Necessary) Government Data Act passed. The goal of the bill is to improve data portability, openness, and transparency without specifying certain formats or technology. It defines open data, creates minimal standards for making federal government data available to the public, requires the federal government to use open data to […more]