When a project is bonded, the surety must be prepared to answer the call in the event subcontractors or vendors are not paid or project performance is not up to snuff. Data standards can ease that process for the principal, the obligee, and the surety.
The Small Business Administration’s Surety Guarantee Program is now able to ingest XBRL-formatted Work-in-Process Reports, eliminating manual data entry for bond agents and contractors.
The XBRL US Surety Working Group has developed a draft release of the Contractor Financials Taxonomy, which contains data standards to capture income statement and balance sheet information about contractors. The taxonomy was created by starting with an initial set of data standards contributed by Crowe LLP, a public accounting, consulting, and technology firm. The […more]
The XBRL US Surety Working Group, today announced the publication of a draft release of the Contractor Financials Taxonomy, which contains data standards to capture income statement and balance sheet information about contractors.
Notice Authorized Uses of this Document Copyright © 2019 XBRL US, Inc. All Rights Reserved The Contractor Taxonomy may be used by the public, royalty-free and may be incorporated without change in other works that comment on, explain, or assist in the use or implementation of the XBRL US Contractor Taxonomy. To that end, this […more]
January/February 2019 Legislative and Regulatory News Federal Energy Regulatory Commission Publishes Proposal to Require XBRL for Utilities Reporting Open Government Data Act Passed GREAT Act Passes the U.S. House of Representatives Federal Energy Regulatory Commission Issues RFP for XBRL Solution XBRL US News SEC Comment Letter on Proposed Collection of Interactive Data XBRL US Publishes […more]
April/May 2019 Legislative and Regulatory News SEC Publishes Draft EDGAR Filer Manual SEC Proposes XBRL for Reporting by Business Development Companies & Closed End Funds SEC Finalizes FAST Act Requires XBRL Tagging for Cover Page Small Business Administration Accepts XBRL Data for Surety Bond Guarantee Program FERC Proposal on Transmission Investment Activity References Use of […more]
When a project is bonded, the surety must be prepared to answer the call in the event subcontractors or vendors are not paid or project performance is not up to snuff. Data standards can ease that process for the principal, the obligee, and the surety.
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November/December 2018 Regulatory and Legislative News SEC Publishes List of Rules to be Reviewed Including XBRL Requirement Rules SEC Posts Draft EDGAR Manual, Effective December 17, 2018 SEC Staff Finds IFRS Filings Have Higher Custom Tag Rates Than US GAAP Filings SEC Proposes Rule on Variable Annuity Referencing Inline XBR SEC Commissioner Kara Stein Speech […more]
The gruesome (and grueling) days of painful re-keying of data may be coming to an end. Could data standards be the magic bullet? The National Association of Surety Bond Producers (NASBP) has been touting the value of financial data standards for several years now. Why data standards? Because they are a proven tool to eliminate […more]
The national consortium for
the business reporting standard
