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As part of its ongoing process to monitor registrant compliance with the requirements to report their financial information in their eXtensible Business Reporting Language (XBRL) exhibits, staff in the SEC Division of Economic and Risk Analysis recently assessed the use of custom axis tags in XBRL exhibits that reporting companies submitted with their annual reports on […more]
The SEC announced that the EDGAR system was upgraded to Release 16.0.3 which now supports the 2016 US GAAP, 2016 COUNTRY, 2016 CURRENCY and 2016 EXCH taxonomies. The 2016 US GAAP Taxonomy is the same release that was posted by the FASB on their site on December 17, 2015. The staff noted that they encourage […more]
Calcbench conducted a Q&A interview with Jack Ciesielski, head of the Analyst’s Accounting Observer, to get his thoughts on OCI and AOCI: how to understand its intended purpose, what should be reported there, and its potential to cause financial analysis headaches. Read below to see what else Calcbench is doing to provide sharper, more precise […more]
Financial technologists, investors, analysts, regulators, investor relations professionals and data providers are invited to the free FinTech Forum: Smart Contracts, Blockchain & Data Standards. The blockchain is a distributed public ledger that describes confirmed transactions between counterparties, and that prevents tampering or revision. Best known as the enabling technology behind BitCoin, the blockchain promises significant new ways to transact a vast array of transactions that today rely on trusted intermediaries.
Merrill Corporation, a global provider of secure content sharing, regulated communications and disclosure services, announced that Mike Schlanger, an XBRL industry leader and member of the XBRL US Board of Directors since 2009, has been elected to serve as Vice Chairman of the XBRL US Board. His appointment is effective immediately. Read the release
This letter to US SEC provides comments regarding Question 60 of the Proposed Rule on Disclosure of Payments by Resource Extraction Issuers.
10-K Season is Here! The first few months of the calendar year are when most financial analysts prepare to start crunching data from companies filing their prior year’s statements. Through its Earnings Indicator, Calcbench is already tracking fourth-quarter results disclosed by 313 companies as of Feb. 1. So far that group has seen revenue up 1 […more]
This letter to US SEC re: EDGAR and iXBRL provides comments regarding changes to the validation and rendering of XBRL exhibits during the EDGAR submission process and the potential implementation of inline XBRL (iXBRL) for XBRL exhibits.
Mistakes in XBRL-tagged (eXtensible Business Reporting Language) financial disclosures remain a major concern for companies, the U.S. Securities and Exchange Commission and the market. To help filers tag XBRL data accurately XBRL US and several major companies have established the XBRL US Center for Data Quality. This initiative seeks to address public concerns about XBRL and improve […more]
What are the conditions for determining when a calculation relationship is required? The Commission’s rules require filers to include calculation relationships for certain contributing line item elements for financial statements and related footnotes. Read More – http://www.sec.gov/spotlight/xbrl/staff-interps.shtml#E.27
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