The Financial Accounting Standards Board (FASB) staff has issued guidance on how to implement Extensible Enumerations (EE) 2.0 in XBRL-formatted reporting. The implementation of EE 2.0 will begin with the 2021 US GAAP Financial Reporting and SEC Reporting (SRT) taxonomies. Continue reading "FASB Issues Guidance on Implementation of..." »

On September 1, 2020, the Financial Accounting Standards Board (FASB), the organization responsible for the ongoing development and maintenance of the SEC Reporting Taxonomy (SRT), announced proposed technical enhancements for the 2021 SEC Reporting Taxonomy. The planned improvements were published in a set of release notes that describe the proposed upgrades, which were designed to improve the overall functionality of the SRT. Continue reading "FASB Holds Public Review for Tech Enhancements..." »

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..." »

The SEC’s Division of Economic and Risk Analysis (DERA) recently released its analysis of custom tag usage in financial filings submitted to the SEC. The analysis covered XBRL financial data submitted with Forms 20-F, 20-F/A, 40-F and 40-F/A from January 2017 to December 2019 by filers preparing their reports using International Financial Reporting Standards (IFRS), which is issued by the International Accounting Standards Board. The analysis focused on trends in filers’ use of custom tags in their XBRL financial data for these forms during the last three years in two categories: 1) Financial statements (F/S) only and 2) F/S and notes.
Continue reading "IFRS Trend Analysis 2019" »

Under the leadership of Scott Theis, the XBRL US Domain Steering Committee (DSC) published the first release of the XBRL Taxonomy Development Handbook (TDH). Developed over a two-year period, the TDH provides an in-depth roadmap to building effective structured data reporting systems. The handbook covers the fundamentals of the XBRL specification, data modeling and translating models to XBRL, assessing project scope, creating an appropriate data model to support reporting requirements, the mechanics of building the taxonomy, best practice in establishing a governance structure, and documenting the program to aid XBRL preparers and consumers.
Continue reading "XBRL US Releases Taxonomy Development Handbook" »

With the release of EDGAR 20.1.1, the Securities and Exchange Commission updated EDGAR to accept the US GAAP 2020 taxonomy among other new taxonomies. Even though previous taxonomies are still accepted by EDGAR, it’s always a good practice to transition your SEC filings as soon as possible after the SEC accepts the new taxonomy year.
Continue reading "What's New in UGT 2020" »

On November 19th, XBRL US released the Taxonomy Development Handbook for public review. The handbook is a comprehensive guide that directs regulators, industry experts, and businesses through a practical roadmap to building high quality data standards with XBRL. This freely available, foundational document takes readers through the necessary stages of standards development, including: 1) building the appropriate transport data model, 2) assessing project scope, including use cases and requirements, 3) establishing a governance structure, 4) documenting the standards program, and 5) the step-by-step mechanics of building the taxonomy. The handbook also contains an introduction to the XBRL financial data standard, templates to guide developers in documenting the taxonomy, and case studies of XBRL as a method of improving data reporting in various industries.

Continue reading "XBRL US Releases Taxonomy Development Handbook..." »

With the last EDGAR release, the Securities and Exchange Commission updated EDGAR to accept the US GAAP 2019 taxonomy among other new taxonomies. It’s always a good practice to transition your SEC filings as soon as possible when the SEC accepts the new taxonomy year.

Continue reading "What's New in UGT 2019" »

Version 4.25c of all applications in the GoFiler Suite has been released. This release contains a number of improvements to Form N-CEN View, Form SDR View and Form ABS-EE View. Additionally, improvements and corrections were made to Page View and to general file recovery across all software platforms.

Continue reading "New Release (4.25c) for the GoFiler Family of..." »

Version 4.25b of all applications in the GoFiler Suite has been released. This release brings Form ATS-N out of beta with all functionality completed. It also contains the new XBRL validation required by the EDGAR Filer Manual as well as a number of corrections and improvements to Page View and Form N-CEN View.

Continue reading "New Release (4.25b) for the GoFiler Family of..." »

Version 4.25a of all applications in the GoFiler Suite has been released. This release corresponds to EDGAR Release 18.4 - Phase 1. It contains support for new Form ATS-N as well as a number of corrections and improvements to Form N-CEN View. Additionally, simple HTML proofing is now available for the N-PORT forms. Continue reading "New Release (4.25a) for the GoFiler Family of..." »

Version 4.24b of all applications in the GoFiler Suite has been released. This release contains a number of corrections and improvements to the XBRL View and to various EDGAR form views. Additionally, simple HTML proofing is now available as a beta feature for the N-PORT forms.

Continue reading "New Release (4.24b) for the GoFiler Family of..." »

On June 28, 2018, the SEC voted to adopt amendments to the XBRL reporting requirements that would require registrants to use the Inline XBRL format for the submission of financial statement information and fund risk/return summary information.

Continue reading "SEC Mandates Inline XBRL" »

The SEC’s Office of Financial Management Filing Fees announced the release of the web-based Registration Fee Estimator 1.2. Included in this release are all effective fee-bearing form types.

Continue reading "SEC Releases Registration Fee Estimator 1.2" »

The recent breach at the SEC illustrates how prevalent internet cyberattacks have become. They are a ubiquitous threat, inherent to the information exchange the internet provides. Often times with little warning or even indication that the event is occurring, hackers can infiltrate secure systems and access nonpublic information that could be exploited or damaging to multiple parties. Particularly when it comes to EDGAR, a great deal of sensitive, private information is regularly exchanged between companies and the SEC. Should this information be accessed before it’s appropriate, it could lead to all sorts of undesirable consequences. Even something as simple as prior knowledge of the type of form a company is in the process of filing can result in unwanted outcomes. Therefore, it’s essential that we as filers, filing agents, and other involved parties protect ourselves from unwanted intrusions.

Continue reading "Good Security Practices: Simple Steps in..." »