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]
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]
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]
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]
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
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, 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.
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]
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]
In this issue:
The national consortium for
the business reporting standard
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