News Archive

The Calcbench Insider: May 2019

In this issue:

• Lease Accounting… There’s More
• Capex spending, both up and down.
• Restructuring costs on the rise.
• Restructuring costs up close.
• When Amazon takes over the world.

XBRL US Data Quality Committee Launches Public Review for 9th Ruleset

SEC filers, investors, XBRL providers encouraged to review and comment The XBRL US Data Quality Committee (DQC) has published its 9th Ruleset for a 45-day public review and comment period, which closes on June 15, 2019. In addition to expanding on many existing rules, the latest ruleset contains a new category of checks that evaluates […more]

AGA Article: Building Momentum, Preparing for XBRL in Government

Members of the XBRL US State & Local Government Disclosure Modernization Working Group authored the article “Building Momentum, Preparing for XBRL in Government” which appeared in the Spring 2019 edition of the Association of Government Accountants (AGA) Journal of Government Financial Management. From the article: XBRL, or eXtensible Business Reporting Language, provides advanced search capabilities with […more]

California Senate Bill 598 Passes 2nd State Committee (Senate Government Organization Committee)

SB 598, a bill introduced in California by Senator John Moorlach, was passed unanimously through the Senate Government Organization Committee. This is the second state Senate committee that has unanimously passed this bill which will go to a final vote before September 13. The bill calls for the creation of the Open Financial Statement Commission, consisting […more]

SEC Requires XBRL Tagging of 8-K

In March 2019, the SEC adopted final amendments to its rules which On March 20, 2019, the SEC adopted final rule amendments, in connection with the FAST Act, which have expanded the scope of XBRL tagging requirements to the cover page of Forms 8-K, 10-Q, 10-K, 20-F, and 40-F (annual reports) using Inline XBRL. The […more]

Novaworks News – April, 2019

In this issue: SEC Adopts FAST Act Simplification and Modernization of Regulation S-K SEC Releases EDGAR 19.1.1 SEC Proposes Offering Reforms for Business Development Companies and Registered Closed-End Funds SEC Staff to Hold Spring Fintech Forum on Distributed Ledger Technology and Digital Assets

Small Business Administration Accepts XBRL Data for Surety Bond Guarantee Program

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.

XBRL US Surety Working Group Initiates Public Review of Contractor Financials Data Standards

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.

California Senate Bill 598 Passes State Committee on Governance and Finance

The original bill, SB 598, which was introduced by Senator John Moorlach, has been amended to eliminate the mandate for XBRL, but it continues to include the creation of a 9-member commission to write a report to the legislature recommending further action towards the use of Inline XBRL for state and local government financial filings. […more]

SEC Proposes XBRL for Business Development Cos (BDC) and Closed End Funds (CEF)

On April 9, 2019, the Securities and Exchange Commission posted to the Federal Register a proposal to require the use of structured data for: Business Development Companies (BDC) submitting financial statement information using Inline XBRL; BDCs and closed end funds (CEF) to include structured covered page information in their registration statements on Form N-2 using […more]