October 2015 Newsletter

On September 25, as part of the SEC’s Disclosure Effectiveness Initiative (which involves staff review of disclosure requirements as well as the presentation and delivery of the disclosures), the SEC published a Request for Comment on Regulation S-X which includes a proposal that disclosures about entities other than a registrant be made in XBRL format.

Read more: https://xbrl.us/events/ussec-request-for-comment-20151001/

The 60-day comment period is intended to allow users of the Taxonomy to provide feedback on the taxonomy and to afford SEC filers, service providers, software vendors, and other interested parties the opportunity to become familiar with and suggest revisions to the taxonomy, including incorporating new elements for current filings.

Details on FASB’s web page: http://www.fasb.org/cs/ContentServer?c=Page&pagename=FASB%2FPage%2FSectionPage&cid=1176164335312

This 50 minute session will cover the importance of matching context date with report period. Attendees will find out appropriate use of periods with subsequent events and forecasts; and learn how to effectively use the scenario axis using real-world examples. This session is free to attendees or they can choose to obtain CPE credit for a $39 charge ($29 for XBRL US Members or XBRL Consistency Suite subscribers).

Register for the webinar: https://xbrl.us/events/dates-webinar-20151102/

Morningstar’s Head of Fundamentals, Equity Data Operations Jo Guo discusses the importance of financial fundamentals to stock research and why every public company should report the same information in the same fashion in this 8 minute video. She also covers why investors should determine what data is reported and how that data is reported, not the public companies themselves.

Watch the video: https://xbrl.us/home/use/data-insights/

The toolkit provides freely available spreadsheet templates and APIs for analysts, investors, data providers and regulators to easily extract XBRL-formatted financial fundamentals. Predefined templates perform analyses on margins, leases and balance sheets. APIs allow users to extract reported values. APIs and templates can be customized to extract any information reported by public companies. Data is extracted from the XBRL US database and updated every 15 minutes from the SEC RSS feed of corporate XBRL-formatted data.

Learn more: https://xbrl.us/home/use/data-analysis-toolkit/

Sandra Peters, Head of Financial Reporting Policy at the CFA Institute and Hal Schroeder, Board Member, the FASB, will give keynote addresses at the November 4 Investor Forum, hosted by XBRL US and Baruch College. Additional speakers will join from Bloomberg, Credit Suisse, OFR/Treasury, the Securities and Exchange Commission, S&P Capital IQ and others at this ½ day forum for investors, analysts, regulators, data and analytical tool providers.

The event is free to attendees and requires registration: https://xbrl.us/events/2015-forum/

The public is invited to attend this two hour open committee call to discuss Data Quality rules and guidance under development.

Register: https://xbrl.us/events/center-for-data-quality-committee-meeting-5/

Learn more about Certent Disclosure Research which provides quick, intuitive access to more than 20 million public filings to locate qualitative, unstructured data.

Register: https://xbrl.us/events/certent-disclosure-management-research-overview/

Hear a panel of experts as they review the fundamentals of XBRL, core concepts and best practices for XBRL review. As regulatory quality expectations for XBRL submissions continue to
rise, this program is designed to elevate your level of XBRL competency and provide guidance to help you eliminate common pitfalls, improve data quality and, thus, avoid further SEC scrutiny.

Register: https://xbrl.us/events/rrd-20151119/