News

Municipal Beat Podcast on Data Standards

XBRL US member Liz Sweeney of Nutshell Associates discusses data standards to improve state and local government reporting on Municipal Beat Podcast. Listen to the podcast.

XBRL US Comments on FERC Form 730 Revisions

XBRL US submitted a comment letter responding to the Federal Energy Regulatory Commission (FERC) request concerning proposed changes to Form 730, the Report of Electric Transmission of Investment Activity, and their proposal that the revised content be prepared in XBRL format. We agree with the FERC proposal as written, because much of the data required […more]

Investment Company Institute Publishes Paper on ESG Integration & Sustainable Investing Strategies

The Investment Company Institute (ICI) published in July 2020 a report on “Funds’ Use of ESG Integration and Sustainable Investing Strategies: An Introduction”. ICI established an ESG Working Group to review and address how funds describe ESG integration and sustainable investing strategies. The group determined that it would be good practice for funds to use […more]

FASB Publishes US GAAP Taxonomy Q&A on COVID-19 Disclosures

The Financial Accounting Standards Board (FASB) published a new Q&A that covers applying the US GAAP Financial Reporting Taxonomy on disclosures related to effects of COVID-19. Topic areas covered include: Income taxes Payroll taxes Loans Grants Pensions Overall discussion of the COVID-19 pandemic.   Read the Q&A.

SEC Updates Custom Tag Trend Analysis

The Securities and Exchange Commission published an updated analysis of custom tag rate trends which shows a slight decline in the use of custom tags (from 18% to 17%) for all filers. The biggest decline in the use of custom tags was from large accelerated filers which was offset by an increase among smaller reporting […more]

SEC News from Novaworks Software

Posted this month: SEC Adopts Amendments to Improve Financial Disclosures about Business Acquisitions and Dispositions Reminder for Filers Who Obtain EDGAR Access Pursuant to Temporary Final Rule 10(c) New York Regional Office to Host Educational Call for Investors on Avoiding COVID-Related Fraud SEC Extends Relief for Virtual Meetings of Fund Boards and more news

SEC Requests Comment on N-CEN Data Collection

The Securities and Exchange Commission announced a request for comment concerning the collection of data by investment companies on Form N-CEN, which is currently required to be reported in XML format. The request seeks information on: (a) whether the proposed collection of information is necessary for the proper performance of the functions of the agency, […more]

The Calcbench Insider: June 2020

In this issue:

• Covid-19 Disclosures
• Earnings release & 10-K timing

Video: Standards for government data collection

Most U.S. government data agencies today do not require data standards for information reported by businesses, grantees, or state and local governments. Agencies could easily transition to data standards programs, with gains for all stakeholders: reporting entities would eliminate duplicate data preparation, and enjoy low costs from competitively priced preparation tools government agencies would experience […more]

SEC Updates Interactive Data Test Suite

The Securities and Exchange Commission updated their interactive data test suite which is designed to assist filers using software to validate XBRL data prior to EDGAR submission. The test suite consists of small XBRL instances, schemas, and linkbases that are categorized as to whether they violate a validation check, and if so, what validation check […more]