July, 2022 Michigan State appropriates funding for preparation and collection of local unit government disclosures in XBRL. House Bill 5783 was signed by Governor Whitmer and includes appropriations for fiscal years 2022 and 2023. The IT funding is to be used by Michigan State Treasury to develop an IT strategy focusing on machine-readable (XBRL) financial […more]
June, 2022 The University of Michigan (U-M) launches a public review of government financial data standards. Governments, standard setters, regulators and analysts are encouraged to review and comment on the Annual Comprehensive Financial Reporting (ACFR) Taxonomy, which represents seven financial statements and four notes, in addition to Michigan-specific reports that local entities submit along with […more]
By Christine Cheng*, Assistant Professor, Patterson School of Accountancy at University of Mississippi; and Campbell Pryde, President and CEO, XBRL US Resources Teaching Case (PDF) Data script (Python) XBRL API provisioning Academic Member Benefits Controversial questions require the right dataset. Case studies are often the best tool for students to learn how to untangle the […more]
May, 2022 With Memorial Day behind us, the start of Summer is right around the corner (officially June 21). Time for barbecues, picnics, heading to the beach… And this year, more rule proposals and final implementations with structured data requirements from the SEC! Two new SEC proposals focused on investment management filers were published in […more]
April, 2022 The XBRL US ESG Working Group announces publication of machine-readable corporate sustainability data. The working group, which is responsible for the paper, Supporting ESG Data with Standards, worked closely with Etsy, the company that operates two-sided online marketplaces matching millions of buyers and sellers around the world, and with Moody’s Corporation, the parent […more]
March, 2022 Environmental issues remain in the headlines! The SEC has published their long-awaited rule proposal on climate, Enhancement and Standardization of Climate-Related Disclosures, and conducted a special hearing to discuss and vote. The proposal, which passed by a vote of 3-1, establishes requirements for domestic and foreign registrants to disclose certain climate-related information in […more]
By David Tauriello, Vice President of Operations, XBRL US “… consistency is the hobgoblin of little minds … “ -Ralph Waldo Emerson As Emerson suggested, consistency in thought can limit imagination and innovation – consistency in data is a different story altogether. In the last six months, the global financial data environment has seen an […more]
February, 2022 More rule proposals with structured data requirements from the SEC. This month the Securities and Exchange Commission published two new proposals that contained structured data requirements, both with comment period due dates of April 22, 2022. Cybersecurity Risk Management for Investment Advisors, Registered Investment Companies, and Business Development Companies proposes that registered investment […more]
January, 2022 XBRL US commented on FERC data collection of Forms 6 and 6-Q. Both forms are now required to be reported in XBRL format which renders the data machine-readable, improving the ability of the Commission to perform audits and reviews, and conduct research. It also enhances the usefulness of the data for the public […more]
December, 2021 2022 promises to be an exciting year for the XBRL community with new structured data programs coming online from U.S. based public utilities reporting to the Federal Energy Regulatory Commission (FERC), European and UK companies filing through the European Securities Markets Authority (ESMA), and local Florida government entities reporting in XBRL to the […more]
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