SEC Filing Help - Entries from May 2021

Wednesday, May 26. 2021

DERA Brings Attention to Incorrect Use of Continuing Operations Elements in the Statement of Cash Flows

The staff of the SEC’s Division of Economic and Risk Analysis (DERA) has discovered that certain filers who report under US Generally Accepted Accounting Principles are using elements for the Statement of Cash Flows that are intended explicitly for continuing operations. These filers do not actually report continuing and discontinued operations separately and should be using general elements to tag each respective subtotal for operating, investing, and financing activities. Continue reading "DERA Brings Attention to Incorrect Use of..." »

Posted by

The Novaworks Team

in DERA, SEC Filing Help at 17:54

Tuesday, May 25. 2021

SEC Staff Issues Guidance on EDGAR Filing of Form C

The SEC’s Division of Corporation Finance recently provided guidance that reflects its views concerning the filing of Form C to the SEC with respect to the effectiveness of certain rule changes as introduced in Release No. 33-10884. This guidance on EDGAR filing of Form C: 1) is not a rule, regulation or statement of the SEC; 2) has neither agency approval nor disapproval; 3) has no legal force or effect; 4) does not alter or amend applicable law; and 5) creates no new or additional obligations for any person. Continue reading "SEC Staff Issues Guidance on EDGAR Filing of..." »

Posted by

The Novaworks Team

in Corporation Finance, EDGAR News, SEC, SEC Filing Help at 14:46

Friday, May 21. 2021

FASB Proposes Revisions for Future Taxonomies Related to Proposed ASU on Fair Value Hedging

The Financial Accounting Standards Board (FASB) has recently issued proposed updates to the US GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy related to the proposed Accounting Standards Update (ASU) on Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Method. The proposed revisions to the taxonomies will include: 1) new elements, 2) newly added references to transition elements, 3) modified documentation and standard labels, 4) element deprecations, and 5) reference deletions.
Continue reading "FASB Proposes Revisions for Future Taxonomies..." »

Posted by

The Novaworks Team

in EDGAR News, FASB News, SEC Filing Help, US GAAP Taxonomy, XBRL at 14:50