October 2015

Regulatory & Legislative News


XBRL International News

Regulatory & Legislative News

SEC Reg S-X Proposal Includes XBRL Requirement for Disclosures by Entities Other than Registrant

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/

FASB Public Review of 2016 US GAAP Taxonomy to Close October 31

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


Webinar on Effective Use of Dates, November 2 at 3PM ET Featuring KPMG’s Joe Luczka

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 Video Published on the Importance of Financial Data for Stock Research

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/

XBRL US Introduces the Data Analysis Toolkit Featuring Templates & APIs to Use XBRL Data

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/

CFA Institute and the FASB to Keynote XBRL US Investor Forum: Improving Financial Analysis through Structured Data, 11/4, NYC

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/

Next XBRL US Data Quality Committee Meeting Scheduled for Nov 18 at 3PM ET

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/

XBRL International and XBRL US Member News

Certent Webinar “Disclosure Management Research Overview”, November 19 at 11 AM PT

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/

RR Donnelley Webinar “XBRL 101: Building a Solid Foundation”, November 19, at 2PM ET

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/

About XBRL US Membership

Our members are committed to engaging and collaborating with other members, contributing to the standard through involvement of their teams, and striving to build awareness and educate the market. Members of XBRL US represent the full range of the business reporting supply chain.

Find out more about the benefits of membership and how to become involved by visiting http://xbrl.us/membership.