News Archive

The Calcbench Insider: April 2019

In this issue:

• Our newest masterclass video is here.
• Where the spending goes.
• Adventures in taxes and net income.
• Taxes, Part II: trends in payments.
• Big movers in goodwill, intangible assets.

State of Florida Publishes RFP to Build XBRL Taxonomy for Municipal Reporting

In March 2018, the state of Florida passed HB 1073, legislation requiring the use of XBRL for municipal financial reporting. On April 1, the Request for Proposal was issued. Read the RFP.  

SEC Requires XBRL Tagging of 8-K

In March 2019, the SEC adopted final amendments to its rules which expand the XBRL tagging requirement to Form 8-K filings. And it’s not just for selected Form 8-K filings; it’s for all of them. Form 8-K is the interim report that companies must file with the SEC to announce major events that shareholders should […more]

FERC Transmission Investment Activity Proposal References XBRL

On March 28, 2019, the Federal Energy Regulatory Commission (FERC) published a proposal, “Inquiry Regarding the Commission’s Electric Transmission Incentives Policy” regarding Form 730, Report of Transmission Investment Activity. This report contains data about actual and projected electric transmission capital spending. One of the questions raised in the proposal is: Should the Commission upgrade the […more]

CFA Institute on XBRL and Audit

In a recent blog post from the CFA Institute, Mohini Singh, ACA, Director of Financial Reporting, commented that with the mandate to use Inline XBRL for corporate filings in the United States and in Europe, it is time to begin considering audit for the XBRL version of the filing. The blog points out that: “Only […more]

FASB FAQ updated for 2019 US GAAP

The Financial Accounting Standards Board (FASB) Staff recently issued an update to the Frequently Asked Questions about the U.S. GAAP Financial Reporting Taxonomy (FAQ) to include new guidance for preparers on addressing the deprecation of the “Report Date [Axis]” (CreationDateAxis) with the 2019 Taxonomy Update. The FAQ is available on the FASB website.

XBRL US Comment RE: SEC RFC on Earnings Releases & Quarterly Reports

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]

SEC Finalizes FAST Act Simplification & Modernization of Reg S-K

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]

FERC Announces Agenda for Webcast Technical Conference

On March 18, 2020, the Federal Energy Regulatory Commission (FERC) published the agenda for their upcoming technical conference on the use of XBRL for forms submissions, which takes place March 24 – 26, 2020. On March 13, 2020, a notice was issued announcing that the technical conference will no longer be an in-person conference.  All […more]

Novaworks News – March, 2019

In this issue: SEC Staff to Hold Spring Fintech Forum on Distributed Ledger Technology and Digital Assets SEC Fee Rate Advisory #2 for Fiscal Year 2019 SEC Releases EDGAR 19.1