Financial Reporting: August 2011
The lack of reliable tools available to review the XBRL files is a major concern and members believe the tools currently available do not adequately address this issue.
XBRL US GAAP Taxonomy: FASB, SEC Staff On June 22 Webcast
SEC’s detailed XBRL tagging requirement
The Committee on Corporate Reporting (“CCR”) of Financial Executives International (“FEI”) appreciates the opportunity to share views on our members’ experiences with preparing quarterly filings under the SEC’s detailed XBRL tagging requirement.
2011 U.S. GAAP XBRL Taxonomy Awaits SEC Acceptance; 2011 IFRS Taxonomy Proposed
On Jan. 18, 2011 the FAF released the 2011 U.S. GAAP Taxonomy, pending SEC acceptance. On the same day, the IFRS Foundation released for public comment an Exposure Draft of the proposed 2011 IFRS Taxonomy.
XBRL US Establishes Best Practices Commitee
On Oct. 18, 2010, XBRL US announced the formation of a Best Practices Committee.
Financial Reporting: October 10
One key finding from the first year of implementing eXtensible Business Reporting Language is that getting it right is critical, since errors or noncompliance can trigger an amended filing and possibly damage a company’s reputation.
FAF, SEC Seek Comment On GAAP, Non-GAAP Taxonomies For XBRL
CCR’s letter to the SEC addressing concerns with time needed for detailed footnote tagging required.
CCR’s letter to the SEC addressing concerns with time needed for detailed footnote tagging required starting in Q2.
FAF To Maintain XBRL Taxonomy For U.S. GAAP; SEC Approves FASB Budget
On Feb. 5, 2010 the FAF announced its new responsibility for maintaining the U.S. GAAP taxonomy for XBRL. Separately, on Feb. 2, 2010 the SEC issued an Order approving the FASB's budget (by approving the FASB's annual support fee, paid by public companies.)
SEC Launches XBRL Portal
On Dec. 7, 2009 the SEC launched a new portal, http://xbrl.sec.gov, as a single stop for finding information about eXtensible Business Reporting Language (XBRL) on the SEC website, particularly information about creating and submitting XBRL-tagged infteractive data files in compliance with SEC rules.
The Fast Close
XBRL-US Issues Extension File For FASB Codification
On Aug. 4, 2009 XBRL-US published a taxonomy extension file of references to FASB's Codification.
The XBRL Exhibit: A Checklist Of Things To Not Miss
On July 23, 2009 the Financial Executives Research Foundation published "The XBRL Exhibit: A Checklist of Things to Not Miss."
XBRL Panel Says Don't Put Off Planning, Take Responsibility
SEC Posts FAQs, C&DIs On XBRL, Executive Compensation, More
On May 29, 2009 the SEC posted Frequently Asked Questions and Compliance and Disclosure Interpretations relating to XBRL, executive compensation disclosures, and other matters.
XBRL-US Publishes 2009 Release Of U.S. GAAP Taxonomies
SEC 21st Century Disclosure Initiative
Gartner Research Report 164491
XBRL Fundamentals And The SEC's New Rule, By KPMG
SEC Posts Final Rule On XBRL
On Jan. 30, 2009 the SEC posted its final rule on XBRL.
SEC Approves Final Rule To Mandate XBRL, Launches IDEA System
The SEC voted on Dec. 17, 2008 to issue a final rule mandating XBRL. In related news, the SEC launched its IDEA system on December 17, which will initially supplement, and eventually replace, the EDGAR system.
SEC To Vote On XBRL Final Rule Dec. 17
The SEC announced on Dec. 10, 2008 that it will vote on a final XBRL rule on December 17.
president`s page: december 08
XBRL US Initiates Public Review of US GAAP Taxonomies, Release 2009
On Nov. 25, 2008 XBRL US released the latest US GAAP Taxonomies, Release 2009, for public review. The public review period ends Jan. 15, 2009.
technology: october 08
XBRL: october 08
Here are responses — from users with experience — to points raised in comment letters.
In Brief: september 08
SEC Replacing EDGAR With IDEA Platform; Updates 21st Century Disclosure Project
On Aug. 19, 2008, the SEC announced that it is replacing the EDGAR system with a new system called IDEA, short for Interactive Data Electronic Applications.
FEI's CCR and CFIT Committees Provide Views on SEC's XBRL Letter
IFRS XBRL Taxonomy 2008
Summary Of SEC Proposed Rule On XBRL
Following is a detailed summary of the SEC's proposed rule published May 30, 2008, "Interactive Data to Improve Financial Reporting."
SEC Posts Proposed Rule For Providing Financials in XBRL; Comment Deadline Aug. 1
SEC Proposing XBRL Phase-in For Large Public Cos. By Dec., Smaller Cos. To Follow
May 14, 2008, the U.S. Securities and Exchange Commission (SEC) voted to release for public comment a proposed rule regarding requirements for public companies to file certain data with the SEC using data tags in eXtensible Business Reporting Language (XBRL).
SEC To Consider XBRL Rulemaking May 14; U.S. GAAP Taxonomies Completed
SEC To Meet April 21 To Consider XBRL Proposal
SEC General Counsel Says XBRL Proposal Will Be Considered 'In The Near Future'
Six Largest Audit Firms Release Findings Of Global Public Policy Dialogue
On Jan. 15, 2008 the six largest international audit firm networks convened a Global Public Policy Symposium (GPPS) in New York City. This was the fourth GPPS sponsored by the firms since 2004.
Detailed Summary of SEC's Second IFRS Roundtable - Dec. 17, 2007
Following is a detailed summary of SEC’s second roundtable on implications of SEC potentially permitting – or requiring – U.S. public companies to adopt IFRS, held on Dec. 17, 2007.
FEI CEO's Top Challenges For Financial Executives In 2008
Three Common Reasons For NOT Using XBRL: What CFOs Should Really Know
blog entry by Mike Willis on what CFOs should know about XBRL
SEC Asks Public For Comments On Interactive Disclosure, 'XBRL'
On Dec. 5, 2007, the SEC Office of Interactive Disclosure released for public comment computer lables to make fin. disclosures available in interactive data instead of text form.
FAF: XBRL ‘Revolutionary Opportunity For Finl. Rep., Capital Markets’
Earlier this month, Robert DiSantis, president and COO of Financial Accounting Foundation, gave a presentation at the XBRL International Conference: “Interactive Data and XBRL: A Revolutionary Opportunity for Financial Reporting and the Capital Markets.”
SEC To Fund XBRL Code Writing, Interactive Edgar
On Sept. 25, 2006 the U.S. Securities and Exchange Commission (SEC) announced that it had award three contracts, totaling $54 million, to complete XBRL code writing and to rebuild EDGAR as an interactive database.
Three More Companies To Furnish SEC Reports Using Interactive Data
XBRL International Standards Board Forming
17 Companies Join SEC Pilot Program on XBRL