We reported earlier on a — rather politically motivated — legislative attempt to curb XBRL reporting by smaller US companies. This week there are four new or expanded open data initiatives underway in the US. Chief among the proposals is related to the DATA Act. The Administration will issue data element definition standards and standards for exchanging […]
We thought it would be helpful to identify what is going on in the United States with political proposals to restrict XBRL filing by certain public companies. To be clear, here at XBRL International we think that stepping back in time from digital reporting to a paper paradigm would be a shortsighted and significantly retrograde […]
“Keep calm and educate” is what XBRL and DTC leaders are saying in response to legislation in the US Congress that would give new life to previously derailed efforts to exempt public companies with less than USD $250M in gross revenue from reporting in XBRL.
Using recent XBRL filings, Rani Hoitash from Bentley University and Udi Hoitash from Northeastern University attempt to prove that “high volume and more unique company-specific accounting information” as measured by the number of US GAAP XBRL Taxonomy tags reported in company annual filings, along with the number of customized XBRL tags, leads to poor financial reporting quality. Read the paper.
The annual XBRL US Conference was held in Seattle this week and saw a wide range of talks on both the SEC mandate and developments in XBRL data consumption and analysis. Highlights included a keynote speech from John Connors, former Microsoft CFO and now Managing Partner at leading VC, Ignition Partners. Connors described the accelerating […]
The US Financial Accounting Standards Board (FASB) has released the proposed 2015 GAAP Financial Reporting Taxonomy for public review and comment. The deadline to submit written comments is October 31, 2014.
US President Barack Obama issued an Executive Order setting forth principles and requirements for making US Government data open and machine-readable, including that “To promote continued job growth, Government efficiency, and the social good that can be gained from opening Government data to the public, the default state of new and modernized Government information resources […]
Citi, The Depository Trust & Clearing Corporation (DTCC) and XBRL US today announced that Citi has begun sending XBRL-formatted dividend announcements related to ADRs for which it is the depositary bank to DTCC through The Depository Trust Company (DTC), a DTCC subsidiary. These announcements are used to update the DTCC database, consolidate corresponding information and […]
Sector3 was awarded first place in the 2013 XBRL Challenge at the annual XBRL and Financial Analysis Conference, NYC. Read the Sector3 entry. http://www.istockphoto.com/photo/finances-13921029?st=f09a999
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
