Get the latest news and information about XBRL in the United States. We’re also on Twitter with breaking news – twitter.com/xbrlus, and updated event listings – twitter.com/xbrlevents.

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Latest News

Friday, March 22, 2019

FASB FAQ updated for 2019 US GAAP

The Financial Accounting Standards Board (FASB) Staff recently issued an update to the Frequently Asked Questions about the U.S. GAAP Financial Reporting Taxonomy (FAQ) to include new guidance for preparers on addressing the deprecation of the “Report Date [Axis]” (CreationDateAxis) with the 2019 Taxonomy Update. The FAQ is available on the FASB website.

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Thursday, March 21, 2019

XBRL US Comment RE: SEC RFC on Earnings Releases & Quarterly Reports

On March 21, 2019, XBRL US submitted a comment letter responding to the SEC proposal, Request for Comment on Earnings Releases and Quarterly Reports  stating our support for quarterly filing. Quarterly reporting is beneficial to investors, other data consumers, and to reporting entities. The earnings announcement and the Form 10-Q are very different documents, and […more]

Wednesday, March 20, 2019

SEC Finalizes FAST Act Simplification & Modernization of Reg S-K

On March 20, the SEC finalized the FAST Act Simplification and Modernization of Regulation S-K Rule which includes a requirement for registrants to tag all cover page data in Inline XBRL. The objective of this section of the rule is to “further enhance investors’ use of interactive data to identify, count, sort, compare, and analyze […more]

Tuesday, March 19, 2019

Novaworks News – March, 2019

In this issue: SEC Staff to Hold Spring Fintech Forum on Distributed Ledger Technology and Digital Assets SEC Fee Rate Advisory #2 for Fiscal Year 2019 SEC Releases EDGAR 19.1

Monday, March 18, 2019

XBRL US Supports California SB 598: Open Financial Statements Act

On February 22, 2019, California State Senator John Moorlach introduced Senate Bill 598, legislation to enact the Open Financial Statements Act which, if passed, will do the following: Create the Open Financial Statement Commission, consisting of seven members appointed by the Governor Require the newly created Commission to contract with vendors to build an XBRL […more]

Wednesday, March 13, 2019

XBRL US Comment RE: SEC Proposal Updated Disclosure for Variable Annuity & Variable Life Insurance

On March 13, 2019, XBRL US submitted a comment letter responding to the SEC proposal, Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts, File Number S7-23-18. Variable annuities represent a $96 billion industry, according to LIMRA Secure Retirement Institute (2017 figures)*. XBRL US supports the Commission proposal to require reporting […more]

Tuesday, March 12, 2019

Ez-XBRL Announces Automated iXBRL Conversions Using Patented Technologies

Ez-XBRL Solutions, Inc. announced today its new Inline XBRL (iXBRL) solution that enables SEC registrants to rapidly convert their existing XBRL tagged data to the iXBRL format. Read the press release.

Monday, March 11, 2019

SEC Updates EDGAR for 2019 Taxonomies

On March 11, 2019, the SEC EDGAR system was upgraded to Release 19.1 and now supports the 2019 U.S. GAAP, 2019 SEC Reporting (SRT), 2019 Currencies (Currency), and 2019 Exchanges (EXCH) taxonomies. The 2019 U.S. GAAP financial reporting taxonomy and the 2019 SEC Reporting Taxonomy reflect the same taxonomies that FASB made available on its […more]

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Friday, March 1, 2019

FERC Issues RFP to Replace Current System with XBRL Solution

On February 22, 2019, the Federal Energy Regulatory Commission (FERC) published an RFP to replace their current VFP Forms and applications with a technical XBRL solution that allows filers to file in a system that uses XBRL and to allow Commission staff to update taxonomies, filing, and reporting requirements for these Forms independent of IT […more]

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XBRL US Comment Letter RE: FERC Proposed XBRL Requirement

XBRL US has submitted a comment letter responding to the Federal Energy Regulatory Commission (FERC) proposal to require the use of XBRL for reporting Commission Form Nos. 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 6-Q, 60, and 714 for utilities. The Commission proposal sought input first, on whether the XBRL standard should be […more]