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XBRL US expressed support for a BEA rule proposal that would amend the data collected and the design of the mandatory BE-180 Benchmark Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign Persons. In particular, XBRL US supports the proposed plan to include a question to survey respondents to provide their 20-digit […more]
US GAAP and IFRS filers, investors, XBRL providers encouraged to participate The XBRL US Data Quality Committee (DQC) has published its 12th Ruleset for a 45-day public review and comment period, which closes on June 1, 2020. DQC rules aid US GAAP and IFRS issuers in preparing consistent, error-free financials, by providing automated checks that […more]
The Securities and Exchange Commission published its final rule Financial Disclosures about Guarantors and Issuers of Guaranteed Securities and Affiliates Whose Securities Collateralize a Registrant’s Securities. The rule was adopted largely as initially proposed and gives parent companies the flexibility to provide the Revised Alternative Disclosures inside or outside of the consolidated financial statements which […more]
The Securities and Exchange Commission published the final rule for Securities Offering Reform for Closed-End Investment Companies, which modifies the registration, communications and offering process for business development companies (BDC) and other closed-end investment companies. In addition, the final rule adopts structured data reporting requirements: BDCs will be required to submit financial statements in Inline […more]
Marc Joffe of the Reason Foundation, and Chair of the XBRL US Standard Government Reporting Working Group, writes that to make better-informed decisions about coronavirus, governments should be publishing comprehensive, machine-readable data sets. The article goes on to note: “In the weeks since COVID-19 became a pandemic, a plethora of data dashboards have been launched […more]
In response to the COVID-19 public health crisis, the SEC announced that they are adopting a temporary rule to allow applicants for EDGAR access to upload a signed copy of Form ID (completed online) without the notarization, containing a statement that applicants were unable to obtain notarization due to difficulties related to COVID-19. Within 90 […more]
The SEC published the draft DEI Taxonomy, 2020 update, for a public review and comment period ending May 27, 2020. Comments on the draft 2020 update to the DEI taxonomy should be sent via email to StructuredData@sec.gov using “Draft 2020 DEI Taxonomy” as the subject of the email. Access the taxonomy: https://www.sec.gov/structureddata/osddrafttaxonomyfiles Read the announcement: https://www.sec.gov/structureddata/announcement/osd-announcement-032720-draft-2020-dei-taxonomy
The SEC announced the availability of FASB Implementation Guides covering the following topics: Accounting Changes Financing Receivable and Current Expected Credit Loss Disclosures Insurance—Long-Duration Contracts Leases under Topic 842 Retirement Benefits—Phase 3 Revenue from Contracts with Customers (Including Statement Presentation of Revenue and Cost of Revenue) Read the announcement. Access the guides.
The new rule changes the definition of accelerated and large accelerated filers, and requires a new check box to be added to the cover page of 10-Ks, 20-Fs, and 40-Fs, which must be tagged in Inline XBRL.
Certent Disclosure Management’s new HD ReportingSM feature to provide investors with innovative and easier-to-read filings. Certent, Inc., a leading provider of software-as-a-service solutions for financial disclosure management and equity compensation, announced today that the first wave of its customers have used Certent’s High Definition (HD) ReportingSM and become the first organizations to successfully file pixel-perfect, […more]
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