Thursday, January 19. 2023
XBRL US to Host Webinar: Government Financial Reporting – Data Standards and the Financial Data Transparency Act
XBRL US staff is holding a webinar to help government agencies comply with the Financial Data Transparency Act (FDTA) requirement that financials be prepared in machine-readable format. The session is designed to clarify for government issuers the purpose for the legislation and its effect on government entities. The one-hour webinar will take place on Tuesday, January 24, 2023, and will begin at 3:00 p.m. ET. The event is free and open to the public, but registration is required. {expires: 2023-01-25}
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Tuesday, January 17. 2023
Simplify FERC Reporting with XBRLworks
XBRLworks is the smart, cloud-based financial reporting solution that streamlines compliance with FERC regulations by connecting people, processes, and data. Our user-friendly solution allows you to access your FERC filings from any device, anywhere. XBRLworks is all of your compliance needs met with one trusted solution.
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Friday, January 13. 2023
XBRL US to Discuss Solutions to Common Issues in XBRL Preparation
XBRL US will be hosting a webinar to help corporate issuers who are faced with many choices working with the XBRL US GAAP Taxonomy when submitting financials to the SEC. The one-hour webinar will take place on Tuesday, February 7, 2023, and will begin at 3:00 p.m. ET. The event is free and open to the public, but registration is required. {expires: 2023-02-08}
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Thursday, January 12. 2023
XBRL US to Hold Webinar on Digitizing Environmental Social Governance (ESG) Disclosures
XBRL US will host a webinar for international investors who have global portfolios and are seeking reliable, consistently reported data from companies concerning climate and other Environmental Social Governance (ESG) matters. The one-hour webinar will take place on Thursday, February 2, 2023, and will begin at 1:00 p.m. ET. The event is free and open to the public, but registration is required. {expires: 2023-02-04}
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Friday, January 06. 2023
FASB Staff Extends Comment Period on Proposed Meta Model Relationships
In October 2022, the Financial Accounting Standards Board (FASB) issued the Invitation to Comment, Proposed Meta Model Relationships. The initial comment period, which was set to end on January 10, 2023, has been extended to May 11, 2023.
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Thursday, January 05. 2023
XBRL US to Hold Data Quality Committee Web Conference
XBRL US’ Data Quality Committee (DQC) will host an online meeting for industry leaders to discuss plans to implement rules and guidance for public companies complying with the SEC’s XBRL requirements. The one-hour webinar will take place on Wednesday, January 25, 2023, and will begin at 12:00 p.m. ET. {expires: 2021-01-26}
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Wednesday, December 28. 2022
President Biden Approves the Financial Data Transparency Act
On December 23rd, President Biden signed into law H.R. 7776, the “James M. Inhofe National Defense Authorization Act for Fiscal Year 2023,” which includes Title LVIII, the Financial Data Transparency Act (FDTA). Under the FDTA, the use of data standards is required by member agencies of the US Financial Stability Oversight Council, which includes the SEC, the US Treasury, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency, the Bureau of Consumer Financial Protection, and the Federal Reserve System.
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Thursday, December 22. 2022
SEC Publishes Draft 2023 Executive Compensation Disclosure (ECD) Taxonomy Guide
On December 19, 2022, the draft 2023 Executive Compensation Disclosure (ECD) taxonomy was updated to include the elements for tagging disclosures related to the SEC’s adopted amendments. Under these rules, registrants are required to tag certain disclosures in Inline eXtensible Business Reporting Language (iXBRL).
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Tuesday, December 20. 2022
SEC Issues Draft 2023 Executive Compensation Disclosure Taxonomy
On December 19, the SEC announced that it adopted amendments that require registrants to disclose information concerning: 1) insider trading policies and procedures of issuers; 2) adoption and termination (including modification) of plans that are intended to meet the rule’s conditions for establishing an affirmative defense, 3) certain similar trading arrangements by directors and officers, and 4) director and executive equity compensation awards made close in time to the issuer’s disclosure of material nonpublic information. For further information, see the Insider Trading Arrangements and Related Disclosures final rule on the SEC’s website. Note that, per the SEC’s adopted amendments, registrants now must tag certain disclosures in Inline eXtensible Business Reporting Language (iXBRL).
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Monday, December 12. 2022
SEC Offers Guidance on Tagging Income Statements Over Multiple Periods
On December 8th, the SEC’s Division of Economic and Risk Analysis announced that it has concluded an assessment of how filers are tagging line items on the income statement over multiple periods. The staff noted that a number of filers are using different elements when tagging the same reported line item on the income statement over multiple periods, though each of those tags are included in the taxonomy versions used in the filings. The staff’s findings also determined that some filers were using one element in a form, for example, Form 10-Q, while using another element for the same reported line item in a different form, such as Form 10-K.
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Thursday, December 08. 2022
FASB Staff Releases Proposed GAAP Taxonomy Enhancements for Proposed ASU Regarding Leases (Topic 842), Solicits Comment
On November 30th, the Financial Accounting Standards Board (FASB) released for comment the proposed GAAP taxonomy improvements for the proposed Accounting Standards Update (ASU), which is aimed at improving accounting guidance for lease arrangements between entities under common control.
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Monday, December 05. 2022
XBRL US Announces Webinar: DQC Rules for BDCs and Public Companies – Rule Set 20
The XBRL US Data Quality Committee (DQC) has announced that it published its 20th Rule Set, which is comprised of five proposed rules for corporate issuers and two proposed rules specific to business development companies (BDCs). DQC rules are freely accessible by US GAAP and IFRS issuers so they may better validate their filings and recognize potential errors. Referring to the DQC rules helps issuers prepare financial statements that are consistent and submitted to the SEC in high quality, Inline XBRL format.
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Posted by LeAnn Dey
in Data Quality Committee, Events, IFRS Taxonomy, US GAAP Taxonomy, XBRL
at
09:46
Friday, November 18. 2022
GASB Proposes Guidance to Help Stakeholders Apply its Pronouncements
On November 15th, the Governmental Accounting Standards Board (GASB) released proposed implementation guidance that uses a questions and answers format to clarify and expound on certain GASB pronouncements.
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Wednesday, November 16. 2022
FASB Issues Proposed Investment Companies Taxonomy Implementation Guide
On November 15th, the Financial Accounting Standards Board (FASB) released a proposed Taxonomy Implementation Guide. The Guide is premised on the proposed 2023 GAAP Financial Reporting Taxonomy, which is currently awaiting SEC acceptance and subject to change until the finalized version is published. The newly proposed Guide, Financial Services—Investment Companies (Including SEC S-X Schedules for Business Development Companies), is comprised of examples intended to help users of the taxonomy understand how the reporting framework for investment companies is structured within the taxonomy.
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Thursday, November 10. 2022
XBRL US Announces Web Conference: Variable Annuity & Life Insurance Companies – Get the Skill Set for XBRL
XBRL US will host a virtual conference to discuss the new compliance requirements associated with the SEC’s recent final rule, Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts. These new requirements will go into effect early 2023. The webinar will take place November 15th.
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