September 2015 Newsletter

In a speech to the Institute of Chartered Accountants in England and Wales on September 9, SEC Commissioner Kara Stein reiterated SEC support for inline XBRL as a means to improve the quality of structured data for investors. She cited the use of inline XBRL by UK companies reporting tax returns to the HMRC, noting “This means that the document is presented with structured data embedded within it, so that it can be read easily by both humans and machines.”

Read the full speech: http://www.sec.gov/news/speech/remarks-inst-chartered-acctnts.html

The FASB published the latest proposed release for a 60 day comment period to end October 31, 2015. A webinar will be held on September 22 at 1PM ET to explain the changes to simplify the taxonomy. SEC staff will join to discuss current XBRL filing issues.

Read the FASB release http://www.fasb.org/cs/ContentServer?c=FASBContent_C
&pagename=FASB%2FFASBContent_C%2FNewsPage&cid=1176166364894

Register for the September 22 webinar http://www.fasb.org/cs/ContentServer?c=Page&pagename=FASB%2FPage%2FSectionPage&cid=1176166328432

As part of its DATA Act implementation, the Office of Management & Budget and the Department of the Treasury announced that they have established the final Government-wide data standards for Federal funds made available to or expended by Federal agencies and entities receiving Federal funds. Standards finalized include Account Level Data Standards, Award Characteristic Data Standards, Award Amount Data Standards, Awardee and Recipient Data Standards, Awarding Entity Data Standards and Funding Entity Data Standards.

Read more https://max.gov/maxportal/assets/public/offm/DataStandardsFinal.htm

Speakers from U.S. Treasury, the Consumer Financial Protection Bureau, the FDIC, KPMG and XBRL US will present a free one-hour webinar for government agencies to provide practical information on standards and how to apply DATA Act requirements.

Register for the webinar: https://xbrl.us/gov-webinar

On September 8, California Society of CPAs published a blog authored by XBRL US CEO Campbell Pryde on the importance of ensuring good quality in XBRL financials.

Read the blog: http://blog.calcpa.org/how-important-are-your-xbrl-financials

The public exposure period for the first set of rules closed on September 14 and final rules will be available for use in October. To explain how to participate in the public review and to discuss the importance of data quality for investors, a webinar was held featuring Bloomberg and Calcbench.

Listen to the replay: https://xbrl.us/events/xbrl-data-quality-for-filers-get-involved-in-public-review/

Three new companies have joined the XBRL US Center for Data Quality to help fund the initiative to improve the quality of XBRL data: P3 Data Systems, a software and service company; Certent, a software provider that helps companies meet financial compliance requirements and DisclosureNet, a technology company in the disclosure management space. P3 Data Systems (http://www.p3datasys.com/) and Certent (http://www.certent.com) are existing XBRL US members. DisclosureNet (http://disclosurenet.com/) joins XBRL for the first time as a new member of XBRL US.

Learn more about the Center: https://xbrl.us/data-quality/center/

Time is running out to register for this event.The workshop features an intensive review of best practice topics covering calculations, signage, required values, dimensions and more, in an exercise-driven format with classroom discussion. Instructors include representatives from Deloitte, the FASB, KPMG and PwC.

Learn more and register: http://xbrl.us/workshop

Hear how a company launched an online analytics service based on XBRL data and find out about a free toolkit available to help you analyze public company data in XBRL.

Learn more and register https://xbrl.us/analysis-webinar

XBRL US has partnered with Baruch College’s Zicklin School of Business to host an investor forum in New York on November 4 where investors, analysts, regulators and other corporate data users will learn how to build XBRL databases and use XBRL data for analysis. This event is free but does require registration.

Learn more and register http://xbrl.us/investorforum

The September meeting will be held in-person in Washington, DC and the public is invited to attend and observe via webinar.

Register to attend online: http://xbrl.us/dqc

One day conference to be held September 23 in Washington, DC.

Learn more and register: https://xbrl.us/events/data-transparency-2015/

Attend this free, 45-minute program on complications in XBRL filing and how to resolve them.

Learn more and register: http://go.disclosurenet.com/XBRL-Same-Mandate-Different-Problems-Registration.html