XBRL US publishes DQC 12th Ruleset

The XBRL US Data Quality Committee (DQC) has finalized, approved, and published its 12th Ruleset for public review. The DQC helps enhance data accuracy by providing US GAAP and IFRS filers with freely available automated checks that can test an XBRL […]

SEC

XBRL US Data Quality Committee Approves 7th Ruleset

The XBRL US Data Quality Committee (DQC) has finalized, approved, and published its 7th Ruleset which includes 13 types of validation checks for filings prepared using the US GAAP Financial Reporting Taxonomy as well as two guidance documents. The DQC […]

XBRL Taxonomies

CFA Investor Forum Discusses Who’s Using XBRL and Why

At CFA’s Investor Forum 2017, a panel of industry experts discussed case studies that illustrate XBRL’s use in accounting and financial reporting and the rationale behind its adoption. This panel discussed different ways in which XBRL is employed in the […]

XBRL Tagging

SEC Mandates Inline XBRL

On June 28, 2018, the Securities and Exchange Commission (SEC) voted to adopt amendments to the XBRL reporting requirements that would require registrants to use the Inline XBRL format for the submission of financial statement information and fund risk/return summary […]

XBRL Files

Structured data – Small and Midsize business

US House of Representatives Bill HR 5054, Small Company Disclosure Simplification Act of 2018, debated in context of the exemption, if enacted, granted to the emerging growth companies (Newly public companies with revenue below a specified threshold limit) and on […]

Financial Reports must be Machine Readable

Accountants have long tried to develop their reports so as to meet the needs of the users. Traditionally these users have been identified as investors, creditors and “other stakeholders”. Under the traditional approach, the reports have been printed, delivered to […]

South Africa to require iXBRL

The CIPC in South Africa has recently announced that all companies must file their annual financial statements using inline XBRL. iXBRL is a form of XBRL that combines traditional XBRL tags with human readable HTML. It allows filers to insert […]

XBRL filings

Common Errors in XBRL Filings with the SEC

Canadian firms listed with the SEC are required to file in XBRL. Before beginning with the process, it is useful to consider the kinds of errors that other firms have made in their XBRL filings with SEC. Some errors are […]