Starting with their first 10-Q filed for a fiscal period ending on or after June 15, accelerated filers will be required to submit interactive data using Inline XBRL. Included in this transition are requirements, adopted by the SEC in March 2019 as part of the FAST Act Modernization and Simplification of Regulation S-K, to tag additional information that is visible on the cover page of Form 10-Q, Form 10-K and Form 8-K.
Wednesday, May 13. 2020
Cover Page Inline XBRL Requirements for Accelerated Filers to Kick In June 15
The DEI taxonomy contains the new cover elements. The information that must be tagged on the cover page uses a combination of new cover elements and DEI elements that are already reported. Most of the elements must be visible within the document, meaning that the fact data cannot appear exclusively within the hidden section of the Inline XBRL document.
To help US GAAP filers prepare for tagging the cover information, we have drafted a guide sheet with information that illustrates the XBRL elements and their corresponding data points. This guide sheet is applicable to all filers, with information for the cover pages for Form 10-K, Form 10-Q, Form 8-K, Form 20-F, and Form 40-F and their amendments.
Quick Facts
Depending on various factors such as the type of filer and what securities are being disclosed, there are approximately:
- 28 data points that must be tagged on the cover page for Form 10-Q
- 35 data points that must be tagged on the cover page for Form 10-K
- 24 data points that must be tagged on the cover page for Form 8-K
- 45 data points that must be tagged on the cover page for Form 20-F
- 36 data points that must be tagged on the cover page for Form 40-F
Most but not all of the elements that must be reported should be visible in the document.
The SEC has released new transformations to allow ballot box character entities to be translated into the appropriate yes/no or true/false values for elements.
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