XBRL Tagging

SEC Mandates Inline XBRL

On June 28, 2018, the Securities and Exchange Commission (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. The amendments are intended to improve the quality and accessibility of XBRL data. Inline XBRL allows users to embed XBRL data directly into HyperText Markup Language (HTML) document. This combines the human-readable HTML document […]

Financial Reports must be Machine Readable

Accountants have long tried to develop their reports so as to meet the needs of the users. Traditionally these users have been identified as investors, creditors and “other stakeholders”. Under the traditional approach, the reports have been printed, delivered to the users and used by them in making their decisions. More latterly, the reports have been presented in human readable form – same as the print version – on websites. Recent stats released by the […]

XBRL Filing

Accuracy in XBRL Filing

XBRL enables filers to utilize XBRL software to tag all financial items in their business reports to the elements within a taxonomy. It’s important that filers are operating with effective control while conducting the XBRL process so that it brings out complete transparency and accurate data to analyses by the regulators and users.   How do I start implementing controls around XBRL? Many companies want to implement controls around XBRL, but many a times fails to […]