The FASB recently announced
it will hold a webcast on April 3, 2012 entitled FASB in FOCUS: Using XBRL Tables
. According to FASB's announcement, the webcast, slated to take place on 4/3 from 1-2:30 pm EST, will "provide an overview of the 2012 U.S. GAAP Financial Reporting Taxonomy (UGT) and focused discussions on certain aspects of the UGT."
Featured speakers on FASB's 4/3 webcast include:
Status of 2012 Taxonomy
- Louis Matherne, FASB Chief of Taxonomy Development;
- Donna Johaneman, FASB Project Manager-XBRL;
- David Shaw, FASB XBRL Technical Accounting Research Associate; and
- Susan Yount, Office of Interactive Data, U.S. Securities and Exchange Commission
My two cents (see disclaimer posted on right side of our blo
g): presumably there will either be final Commission approval of the draft 2012 Taxonomy prior to FASB's April 3 webcast, and/or a status update thereon provided on the webcast. The 2011 taxonomy is officially required and in use; the draft 2012 taxonomy was released for public testing and public comment last fall, with a comment deadline of Oct. 31, 2011.
According to the SEC website (see second bullet below), Commission approval of the 2012 taxonomy was anticipated to take place in "early 2012."
- FASB's 2012 taxonomy webpage currently states: "The 2012 US GAAP Financial Reporting Taxonomy may not be relied upon for submitting XBRL tagged interactive data files in compliance with SEC rules until adopted and supported by the SEC. The SEC will indicate availability for use on the SEC standard taxonomies page."
- The SEC's 2012 Draft Taxonomy webpage currently states: "Upon completion of the public comment period and consideration of the feedback, the taxonomies will be finalized and ultimately made available for use with the Commission’s systems which the staff expects to happen in early 2012. Indication that the updated taxonomy is available for use will be made via the standard taxonomies page at http://www.sec.gov/info/edgar/edgartaxonomies.shtml....The 2012 U.S. GAAP and non-GAAP taxonomies may be used for filing submissions as soon as they are listed as available for use on http://www.sec.gov/info/edgar/edgartaxonomies.shtml and the staff encourages filers to transition to the updated taxonomy as soon as is practicable. The staff strongly encourages companies to use the most recent version of a taxonomy release for their Interactive Data submissions to take advantage of the most up to date tags related to new accounting standards and other improvements. When finalized, transition guidance will be posted on http://www.sec.gov/info/edgar/edgartaxonomies.shtml along with the final 2012 taxonomies.".
A list of XBRL resources and information appears further below.
Interested in the Intersection of Finance and Technology?
Are you interested in the intersection of finance and information technology? Check out the Finance and Information Technology track, one of three specialized tracks offered during breakout sessions at FEI's 2012 Summit Leadership Conference, May 20-22 in Orlando.
The other two tracks are Corporate Finance and Leadership & Executive Development. All attendees attend the keynotes and general sessions.
See also FEI's Committee on Finance and Information Technology (CFIT
Listed below are some links to XBRL resources and information at the SEC, FASB, IASB, private organizations and consortiums:
SEC Spotlight on Interactive Data/XBRL
SEC Standard Taxonomies Webpage
FAF/FASB XBRL Taxonomy Role
FASB 2011 US GAAP Taxonomy webpage
FASB 2012 US GAAP Taxonomy webpage (*currently marked pending SEC final approval)
IASB's XBRL and IFRS webpage
IASB's IFRS Taxonomy
XBRL US (national consortium)
- see, e.g. Learn About XBRL
; Events and Training
; Replay Past Events
XBRL International (international consortium
) - see, e.g. Knowledge Centre
As part of its XBRL Community webpage
, XBRL International also provides a list of Blogs
that focus on XBRL; their current listing is copied below:
Financial Reporting Using XBRL
Blogger: Charlie Hoffman
Blogger: Lucy Lee, Rose Ryan
Insight Blog from Corefiling
Blogger: Paul Warren
Hitachi Data Interactive
Blogger: Tammy Whitehouse
Oracle EPM Blog
Blogger: John O'Rourke
XBRL Blog Magazine
Rivet Software Blog
Blogger: Daniel Roberts
Blogger; Erin Cavanaugh
XBRL Canada Blog
Blogger: Gerald Trites