Friday, April 22. 2022
The comment period will remain open until May 31, 2022. Interested parties may submit comments related to the rules by using the general feedback form on xbrl.us. For more information on the matters on which to comment, refer to the Public Exposure of Validation Rules & Guidance webpage. Rules typically are considered for approval within 45 days of the close of the comment period and should be implemented in all filings within 90 days of approval.
The publicly accessible DQC rules are developed in conjunction with stakeholders by disclosing proposed guidance and validation rules for public comment. The DQC incorporates guidance from the accounting standard setters to guarantee that filers have consistent, reliable rules that are accepted by authoritative sources. The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) provide oversight to the DQC.
The following DQC rules are included in the review of version 18:
DQC_0133 (Equity Method Investment Reporting (US GAAP))
The purpose of the rule is to ensure that filers consistently report Equity Method Investment (EMI) data. This rule has three components to help filers to ensure that they are consistent with the guidance issued by the FASB in “Dimensional Modeling for Disclosures of Consolidated and Nonconsolidated Entities”.
DQC_0134 (Investment Schedule – Financial Instrument Axis (US GAAP))
The purpose of the rule is to ensure that filers report values associated with the element AvailableForSaleDebtSecuritiesAmortizedCostBasis with the correct dimensions. The rule is intended to align filer disclosures with the guidance defined by the FASB in “Financial Instruments Debt Securities”.
DQC_0135 (Extensible Enumerations for Financial Statement Captions (US GAAP))
The FASB has defined a number of elements for which, if reported and are not included in the face financial statements, filers need to indicate in which financial statement caption the amounts appear (these elements have been identified in the US GAAP taxonomy as extensible enumeration elements). This rule has two components. The first component identifies an error if the company has made a disclosure and has not included the caption where the amount appears in the financial statements. The second reports an error for a fact that includes the Balance Sheet and Income Statement Location axis and does not have an associated extensible enumeration using the same dimensions.
DQC_0136 (Caption Value Matches Financial Statements (US GAAP))
This rule is intended to identify those cases where the company uses an extensible list item that refers to a Balance Sheet or Income Statement line item that does not exist on the referenced Statement. The rule checks that the values provided for the extensible list items defined in the taxonomy are legitimate financial statement line items that appear in the presentation linkbase.
DQC_0137 (Location Axis with a Single Member (US GAAP))
This rule identifies those cases where the company uses the location axes for the balance sheet or the income statement to indicate where a value in the notes appears on the financial statement. This rule identifies those cases where the location axis is used but only a single value appears for a concept and the specific location axis. This rule only checks those facts using either the BalanceSheetLocationAxis or the IncomeStatementLocationAxis.