In XBRL as in other data reporting systems, calculations show relationships among data. Since XBRL defines calculations in this way without validating the accuracy of their results, it is important to examine the results of calculations in XBRL filings. Many preparers may assume that when a calculation does not add up, it is due to rounding, but this may not be a safe assumption.

The XBRL US Center for Data Quality has launched a public review for five new proposed validation rules. Additionally, the Data Quality Committee (DQC) has released proposed additions to the previous rule regarding inappropriate negative values.

Rule 13q-1, which requires resource extractions issuers to disclose payments made to foreign governments, was adopted by the SEC on June 27, 2016. This rule was initially adopted in August 2012 but was vacated by the U.S. District Court for the District of Columbia. Since then, several other entities adopted transparency rules that are similar to Rule 13q-1, and the SEC re-proposed the rules for the payment disclosures back in December of last year. Now, the rule has been finalized and resource extraction issuers will be required to disclose the payments in XBRL format using Form SD starting with their fiscal year ending no earlier than September 30, 2018.

The SEC has proposed amendments that would increase the financial thresholds in the “smaller reporting company” definition. This would expand the number of companies that qualify for this category, which would make more companies eligible for certain existing scaled disclosures as provided in Regulation S-K and Regulation S-X. The intention is to promote capital formation and reduce compliance costs for smaller registrants while maintaining investor protections. Under the new definition, registrants with less than $250 million in public float and registrants with zero public float if their revenues were below $100 million in the previous year would both qualify as smaller reporting companies.

The SEC is proposing revisions to the property disclosure requirements for mining registrants. These requirements are currently defined in Item 102 of Regulation S-K and Industry Guide 7. These proposed changes are intended to improve investors’ knowledge of a registrant’s mining properties, which should help them make more informed investing decisions.

GoFiler supports a lot of user customization to allow it to meet your exact needs. One of the primary means of customizing the software is through the use of templates. The various templates used by the application can be altered to override or to add to existing functionality. Templates can also provide you with the exact look and feel you want when creating new documents, setting up projects, and publishing reviewer’s proofs.

With the SEC’s announcement that filers can now voluntarily submit Inline XBRL to EDGAR, you may be wondering what Inline XBRL is and whether you should make the switch. We’ll help you gain a better understanding of Inline XBRL and what ramifications - both good and bad - you may encounter should you choose to transition to it.

On June 13, 2016, EDGAR 16.2 was released by the Securities and Exchange Commission. This release contained changes to Form N-MFP1, Form 10-D, and Form 8-K. Additionally, EDGAR has been updated to allow registrants whose SIC code is not 6189 (asset-backed securities) to file certain asset-backed securities related forms and to allow certain filers to use Inline XBRL in their submissions.

June 1, the SEC adopted an interim final rule to implement a provision of the Fixing America’s Surface Transportation (FAST) Act. The rule allows Form 10-K filers to include, at their discretion, a summary of business and financial information as part of the Form 10-K.

It’s a question to which even filing experts may not know the answer. It doesn’t happen often, but the dreaded Internet error can cause major problems when you are in the middle of a Live filing. What do you do? How can you know if the SEC received the filing? This blog post will help you figure out the best course of action.

Effective today, May 16, 2016, companies can file Form C to EDGAR, which is the offering statement containing the initial disclosures required for crowdfunding.

The SEC last month published a concept release that is soliciting comments on the financial filing requirements stipulated in Regulation S-K. The release is part of the Disclosure Effectiveness Initiative through the Jumpstart Our Business Startups (JOBS) Act and is aimed at modernizing and improving filing requirements, addressing whether the requirements continue to elicit the information investors need to make investment and voting decisions, what information should be required and how it should best be presented by registrants, and the costs and benefits of disclosure for both the companies filing them and the investors utilizing them. Additionally, the SEC is investigating alternative methods of presenting disclosure to the public that could improve readability and investor access to information.

On May 3, 2016, the SEC adopted a final rule that amends the thresholds for registration, termination of registration, and suspension of reporting under Section 12(g) of the Securities Exchange Act of 1934. These rules implement provisions of the Jumpstart Our Business Startups Act (JOBS Act) and the Fixing America’s Surface Transportation Act (FAST Act), and, with the adoption of these amendments, the SEC has implemented all of the mandates required by the JOBS Act.

On April 25, 2016, EDGAR 16.1 was released by the Securities and Exchange Commission. This release contained new EDGAR forms for security-based swap dealers and broker-dealers and some minor changes to Form C, Form N-MFP1, and Exhibit EX-102 for Form ABS-EE.

As the deadline for the first Form N-MFP1 filing draws closer, it’s important to know what your options are for working with this new type of filing. As with Form N-MFP, the SEC is not providing any editing software so filers are essentially on their own to find a solution for creating and editing this form.