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Latest News

News
Thursday, January 8, 2015

XBRL US Supports House Decision Not to Pass H.R. 37, Legislation Proposing XBRL Exemption for Small Companies

XBRL US is pleased that the U.S. House of Representatives did not pass H.R. 37 “Promoting Job Creation and Reducing Small Business Burdens Act” in its current form, under suspension of the rules on January 6, 2015. The Act included provisions that would exempt companies with revenue under $250 million from filing in XBRL format. The aim of the bill was to reduce public company costs, however a study by the AICPA and XBRL US shows that an XBRL exemption would result in savings of only $10,000 per year for most small reporting companies. Additionally, the unintended consequence of the XBRL exemption would be to raise the cost of capital for small companies versus large by making it more expensive for investors to extract and analyze small company data.

News
Thursday, December 18, 2014

AICPA XBRL US Study Shows XBRL Filing Costs Lower than Expected

AICPA/XBRL US survey showed that 69% of companies paid $10,000 or less on an annual basis for fully outsourced creation and filing solutions of their XBRL filings. 18% paid annual costs of between $10,000 to $20,000 for their full service outsourced solutions. Only 8% of companies paid more than $25,000 in annual costs. No company’s annual cost exceeded $50,000.

From the SEC
Tuesday, September 30, 2014

The Commission’s Production and Use of Structured Data

Text of Mark Flannery, SEC Chief Economist & Director of the Division of Economic and Risk Analysis – speech at the Data Transparency Coalition’s Fall Policy Conference, September 30, 2014. http://www.sec.gov/News/Speech/Detail/Speech/1370543071869#.VKxpsqZkri8

News
Monday, August 25, 2014

The Power of Data Reporting Standards in Private and Public Sectors: The Third Annual XBRL Data Forum

The third annual XBRL Data Forum will be held in the Seattle area September 15-17, 2014 at the Hyatt Regency in Bellevue. Regulators from across the globe, including the U.S. Securities & Exchange Commission (SEC), have mandated XBRL as the required electronic reporting format. Additionally, the Digital Accountability and Transparency Act (DATA) was signed into […more]

News
Wednesday, May 28, 2014

XBRL International Calls for Global Working Group to Define Standards for Corporate Actions Reporting

The XBRL International Standards Board (XSB) today issued a call to financial regulators and listed company filers to form a global “Corporate Actions Working Group” to define XBRL taxonomies for standardizing the transmission and consumption of corporate actions events allowing straight through processing through the world’s financial systems. This project will build on the work initiated by the Depository Trust & Clearing Corporation (DTCC), SWIFT and XBRL US in 2009 that resulted in development of a draft taxonomy and business plan.

News
Tuesday, April 22, 2014

XBRL US GAAP Pension Analyzer Identifies Significant Errors in XBRL SEC Filings for Q1 2014

XBRL US, the nonprofit consortium for XBRL reporting in the US, announced today the publication of a new online tool, the US GAAP Pension Analyzer which is available for free to public company reporting managers that runs a set of rules against the pension disclosure within an XBRL-formatted financial statement. A review of XBRL filings […more]

News
Friday, April 11, 2014

XBRL US Supports Passage of Senate DATA Act as Important Step for Government Transparency

XBRL US, the nonprofit consortium dedicated to XBRL reporting in the US, today congratulated the U.S. Senate for its passage of the Digital Accountability and Transparency (DATA) Act, S. 994, a bill mandating the use of structured data standards for the reporting of all government expenditures. The bill was approved by unanimous consent and is […more]

News
Tuesday, April 8, 2014

XBRL US National Conference Features SEC Filer Best Practice Training & Tools, Plus IT Forum, September 15-17, Bellevue, Washington

XBRL US announced today that it will hold two events this Fall in Bellevue, Washington, as part of its annual National Conference. A 2 ½ day conference, Current Developments in XBRL Financial Reporting for SEC filers, September 15-17, will focus on public company accounting professionals; the XBRL Data Forum, a one-day workshop to be held […more]

News
Thursday, March 13, 2014

XBRL US in Opposition to Small Company Disclosure Simplification Act, H.R. 4164

XBRL US, the national consortium for XBRL business information reporting, announced today that it strongly disagreed with H.R. 4164, proposed legislation which would exempt small companies from filing financial statement data to the U.S. Securities and Exchange Commission (SEC) in XBRL format for five years. Small company is defined as any entity with under $250 […more]

News
Thursday, January 30, 2014

XBRL International Conference: Better Data for Better Decisions, to be Held June 9-11, 2014, in Orlando, FL

XBRL International, the global standards organization dedicated to improving business reporting, today announced that its 2014 conference, Better Data for Better Decisions, will be held in Orlando, Florida on June 9-11, 2014. The conference is hosted by XBRL US, the US consortium for business information reporting, which is a jurisdiction of XBRL International.



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