The SEC adopted amendments on June 28, 2018 that required filers to use Inline XBRL (iXBRL) for both operating company financial statement information and fund risk/return summary information. Filers using iXBRL are able to prepare a single document that embeds machine-readable data directly into a human-readable document. This gives data users a simpler means to view, access, and explore the contextual information of the underlying data.
Continue reading "SEC Reminds Operating Companies of Approaching..." »

The FERC staff will host a webinar to discuss matters relative to the potential risk to electric system reliability posed by climate change and extreme weather events. The event will take place on Tuesday, June 1, 2021, and Wednesday, June 2, 2021, from 1:00 p.m. – 5:00 p.m. ET. FERC Commissioners may attend and participate in the technical conference. Continue reading "FERC to Host Conference to Discuss Climate..." »

The Financial Accounting Standards Board (FASB) has recently issued proposed updates to the US GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy related to the proposed Accounting Standards Update (ASU) on Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Method. The proposed revisions to the taxonomies will include: 1) new elements, 2) newly added references to transition elements, 3) modified documentation and standard labels, 4) element deprecations, and 5) reference deletions. {expires: 2021-07-06}
Continue reading "FASB Proposes Revisions for Future Taxonomies..." »

A patch has been released to correct some issues with the version 5.8a of the GoFiler products. This release will correct a problem where a dialog box would remain open after validating a project that contained an iXBRL document. It also improves the handling of mixed data types when changing between the US GAAP 2020 and US GAAP 2021 taxonomies.

Continue reading "Recommended Software Update for iXBRL and XDX..." »

Version 5.8a of all applications in the GoFiler Suite has been released. This release corresponds to EDGAR 21.1.3 and contains improvements and corrections for Page View, XDX, iXBRL and XBRL View. Additionally, changes were made to correct issues with Forms ATS-N, N-PORT, N-CEN, and C.

Continue reading "New Release (5.8a) for the GoFiler Family of..." »

The XBRL US Data Quality Committee (DQC) will host a webinar to discuss the recently published 15th Ruleset, which is comprised of nine rules specific to US GAAP filers and IFRS filers. The virtual event will take place on Wednesday, May 12, 2021, from 2:00 p.m. to 3:00 p.m. EDT. This event allows the DQC the opportunity to review the impact of the rules on data quality reported through the SEC program and to clarify the new draft rules. Proposed Ruleset 15 covers a range of potential error types and will warn filers of possible problems within thousands of filings. These rules are designed to identify errors which range from incorrect use of certain axes to problems in the consistency of facts reported over time. {expires: 2021-05-13} Continue reading "XBRL US DQC to Host Webinar to Discuss Newest..." »

On April 20, 2021, XBRL US announced that it is requesting public review and comment on the fifteenth release of the Data Quality Committee (DQC) rules. The DQC is responsible for developing guidance and validation rules that can: 1) prevent or detect errors or inconsistencies in XBRL data filed with the SEC; and 2) reduce the negative impact on the timeliness and accuracy of reported financial information. {expires: 2021-06-01}
Continue reading "XBRL US DQC Releases Ruleset 15" »

XBRL US has announced that it will host an online workshop discussing the governance structure established by the Financial Accounting Standard Board (FASB) to ensure that investors, issuers, data intermediaries, and application providers are not only involved in the process of continuing taxonomy development, but also are apprised of changes in reporting requirements that will affect them. The remote event will take place on Wednesday, April 21, 2021, beginning at 3:00 p.m. EDT and will last approximately 60 minutes. {expires: 2021-04-22} Continue reading "XBRL US to Host Webinar Standards for..." »

On March 23, 2021, the FERC announced several filing deadline extensions for third quarter 2021 quarterly filings for electric utilities, natural gas, and oil pipeline companies. These extensions are intended to allow additional time necessary for the transition to the XBRL-based system. Continue reading "FERC Extends 3rd Quarter Filing Deadlines for..." »

The SEC upgraded the EDGAR system to Release 21.1 on March 22, 2021. The system now supports the 2021 reporting taxonomies, which are the final versions of the draft taxonomies that were posted by SEC staff for public comment on September 1, 2020.
Continue reading "SEC Announces 2021 XBRL Taxonomies Update" »

Version 5.7a of all applications in the GoFiler Suite has been released. This release corresponds to EDGAR 21.1 and contains support for the new 2021 taxonomies and changes to Form C. Additionally, improvements have been made to iXBRL and Page View.

Continue reading "New Release (5.7a) for the GoFiler Family of..." »

After meeting March 2-4, 2021, the International Financial Reporting Standards (IFRS) Foundation’s trustees have announced plans to continue the IFRS Foundation’s endeavor of establishing an international sustainability reporting standards board within the current administration of the foundation. The decision was based on the encouragement received in comments concerning the Consultation Paper on Sustainability Reporting, which was published in 2020. Also, in February 2021, the International Organization of Securities Commissions (IOSCO) has indicated its intention to work with the IFRS Foundation to develop a plan to establish a new board to set sustainability standards that will meet the needs of the capital markets. Continue reading "IFRS to Proceed with Formation of International..." »

On February 24, the SEC announced that the Financial Accounting Standards Board (FASB), the organization that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP), has published two proposed Taxonomy Implementation Guides. These guides are based on the 2021 US GAAP Financial Reporting Taxonomy, which is currently under consideration by the SEC. {expires: 2021-03-13}
Continue reading "FASB Releases Proposed Taxonomy Implementation..." »

XBRL US will host a free webinar on March 10, 2021 to provide an update on the XBRL API that works with data in the Database of Public Filings. The event will begin at 3 p.m. and will be an hour in length. Webinar attendees will learn how to get started with the no-cost add-in for Microsoft Excel in M365 and Office 365 that was recently published called XBRL Filed Data. The remote meeting will also address other available XBRL API enhancements and resources. {expires: 2021-03-11} Continue reading "XBRL US to Host Webinar on Updates to the XBRL API" »