XBRL Tagging

Public Comments Available for SEC’s Proposal for Inline XBRL Tagging

In March, the SEC introduced proposed changes to include Inline XBRL Tagging in financial filings. The public comment period recently ended on May 16th, and the comments are available to read here. XBRL US offered one such comment on the proposed requirements to include Inline XBRL in financial filings, and in it expressed agreement that inclusion on Inline XBRL will help to improve the quality of reported structured financial data while reducing the burden on filers. […]

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 […]

DIGITAL REPORTING - XHTML

Digital Future of Corporate Reporting

The UK’s FRC Lab issued a deep dive report in December that urges regulators, companies, investors and technology providers to work together to realise fully the potential of XBRL and to respond to the challenge of a new European Single Electronic Format (ESEF) for digital corporate reporting due to come into effect in 2020. With passage of time, XBRL has become the leading technology in the world for digital reporting. It is required by more […]

XBRL framework

Manner in which XBRL filing can be helpful to Companies and Investors

Regulatory authorities around the world have adopted rules requiring companies to provide their financial reporting in a structured data, machine-readable format i.e. eXtensible business reporting language (XBRL). The vision of XBRL filing is that the format would enable investors and analysts to capture and analyse information more effectively, as well as help companies automate their financial report filings with the Regulators. Eventually, both preparer and investor costs would be reduced through the use of XBRL. […]

Realizing the Potential of Structured Data

Despite its presence and use for several years now, XBRL has not achieved its full potential for either investors or companies in the United States. One reason is that companies continue to see structured data as a compliance and cost burden, and they have shared these views with regulators. Securities regulators worldwide are examining costs and some of what has been learned may be particularly relevant to them. The CFA Institute paper, “The Cost Of […]