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XBRL US today announced that five companies have received certification that they have successfully incorporated the initial set of validation rules developed by its Data Quality Committee (DQC) in their software applications for preparing filings submitted to the Securities and Exchange Commission (SEC) . XBRL US has tested these software applications to confirm that the […more]
Big changes are coming to how companies account for leasing activity. By 2019, the cost of operating leases will need to be moved from disclosure in the footnotes to disclosure on the balance sheet—with potentially big consequences for companies. Calcbench has taken a preliminary look at how large those new balance sheet disclosures might be […more]
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.
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