The XBRL US Data Quality Committee (DQC) will host a webinar to discuss the recently published 15th Ruleset, which is comprised of nine rules specific to US GAAP filers and IFRS filers. The virtual event will take place on Wednesday, May 12, 2021, from 2:00 p.m. to 3:00 p.m. EDT. This event allows the DQC the opportunity to review the impact of the rules on data quality reported through the SEC program and to clarify the new draft rules. Proposed Ruleset 15 covers a range of potential error types and will warn filers of possible problems within thousands of filings. These rules are designed to identify errors which range from incorrect use of certain axes to problems in the consistency of facts reported over time. {expires: 2021-05-13} Continue reading "XBRL US DQC to Host Webinar to Discuss Newest..." »

On April 20, 2021, XBRL US announced that it is requesting public review and comment on the fifteenth release of the Data Quality Committee (DQC) rules. The DQC is responsible for developing guidance and validation rules that can: 1) prevent or detect errors or inconsistencies in XBRL data filed with the SEC; and 2) reduce the negative impact on the timeliness and accuracy of reported financial information. {expires: 2021-06-01}
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XBRL US has announced that it will host an online workshop discussing the governance structure established by the Financial Accounting Standard Board (FASB) to ensure that investors, issuers, data intermediaries, and application providers are not only involved in the process of continuing taxonomy development, but also are apprised of changes in reporting requirements that will affect them. The remote event will take place on Wednesday, April 21, 2021, beginning at 3:00 p.m. EDT and will last approximately 60 minutes. {expires: 2021-04-22} Continue reading "XBRL US to Host Webinar Standards for..." »

On March 23, 2021, the FERC announced several filing deadline extensions for third quarter 2021 quarterly filings for electric utilities, natural gas, and oil pipeline companies. These extensions are intended to allow additional time necessary for the transition to the XBRL-based system. Continue reading "FERC Extends 3rd Quarter Filing Deadlines for..." »

XBRL US will host a free webinar on March 10, 2021 to provide an update on the XBRL API that works with data in the Database of Public Filings. The event will begin at 3 p.m. and will be an hour in length. Webinar attendees will learn how to get started with the no-cost add-in for Microsoft Excel in M365 and Office 365 that was recently published called XBRL Filed Data. The remote meeting will also address other available XBRL API enhancements and resources. {expires: 2021-03-11} Continue reading "XBRL US to Host Webinar on Updates to the XBRL API" »

XBRL US has announced it will extend its webinar “Get Ready to Comply with FERC XBRL Requirements” to two additional sessions on February 23, 2021 and February 25, 2021. {expires: 2021-03-26} Continue reading "XBRL US Extends Webinar to Prepare for FERC..." »

On November 17th and 18th, XBRL US held the Investor Forum 2020. This year’s program focused on investor concerns and regulator responses during the market crisis brought on by the ongoing COVID-19 pandemic and the role XBRL can and has played during times of difficulty. Access to high quality, consistent, timely data is a priority especially during periods of market unrest and stability. The Investor Forum, which was also sponsored by the CFA Society of New York, the CFA Institute, and the Zicklin School of Business at Baruch College, addressed how standards have been used to manage investment risk and how they can and should be leveraged further to mitigate future upheaval. Continue reading "XBRL US Holds 2020 Investor Forum" »

On November 19th, the SEC released an announcement concerning scaling errors between Entity Common Stock Shares Outstanding and Common Stock Shares Outstanding in XBRL filings. In certain periodic reports, filers must disclose the number of common shares outstanding on the filing cover page and on the balance sheet. These amounts must be tagged in XBRL submissions with the “Entity Common Stock Shares Outstanding” and “Common Stock Shares Outstanding” elements, respectively.
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XBRL US recently announced that it will host a free 60-minute webinar on Wednesday, October 28, 2020 at 3:00 PM EDT, to discuss whether regulators can build an efficient, cost-effective data standards program that establishes a long-term infrastructure while allowing for rapid responses to changing reporting needs. Continue reading "XBRL US to Present October 28 Webinar:..." »

In 2019, the Federal Energy Regulatory Commission (FERC) revised its electronic filing format to incorporate structured data in the eXtensible Business Reporting Language (XBRL) format. As has been the case with other federal regulators, the move to adopt XBRL is being undertaken to modernize the reporting environment and increase efficiency in submitting and consuming data. Broad support across the industry also helped drive the action.
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On September 23rd, the SEC’s staff of the Division of Economic and Risk Analysis (DERA) issued some information concerning Form 8-K and the Document Period End Date. DERA observed that some filers have designated the filing date of Form 8-K in XBRL and Inline XBRL submissions as the Document Period End Date. Other filers, however, have used the filing date from a previously submitted Form 8-K or a date that is unrelated to the reported event. Continue reading "SEC Releases Observations on Form 8-K Document..." »

On August 12, 2020, XBRL US posted a webinar entitled “Roadmap to Building Successful Financial Data Standards”. The webinar was presented by Scott Theis, Chair of the XBRL US Domain Steering Committee, and Campbell Pryde, President and CEO of XBRL US. Continue reading "XBRL US Webinar Introduces Published First..." »

XBRL US seeks public review and comment on thirteenth release of the Data Quality Committee (DQC) rules. The goal of the DQC rulesets is to help filers limit mistakes and avoid data inconsistencies that can adversely affect analysis of reported financial information. Continue reading "XBRL US DQC Releases Ruleset 13" »

The Financial Accounting Standards Board (FASB) has released a written question-and-answer (Q&A) document discussing topics relevant to financial disclosure related to the COVID-19 pandemic. The guidance and responses provided in the Q&A should not be extrapolated to other facts and circumstances not specifically discussed. Continue reading "FASB Releases Q&A on the Application of the..." »