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XBRL data

Interactive Data Test Launched to Aid Investors

Interactive Data Test Launched to Aid Investors

The SEC is making bulk sets of company financial information submitted in the eXtensible Business Reporting Language (XBRL) available to investors, academic researchers, and other members of the public. The data is being collected from financial statements prepared in the computer-readable XBRL format and submitted via the EDGAR reporting system. The SEC said on December […]

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Small Companies May Get an Exemption from Interactive Data Rule

Small Companies May Get an Exemption from Interactive Data Rule

The SEC says small companies have more problems than bigger companies with its eXtensible Business Reporting Language (XBRL) reporting rule. If the trend doesn’t improve, the agency may ease the rule’s requirements for them. At the same time, regulatory officials believe large companies simply needed a few years to refine their XBRL reporting, and some […]

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Commissioner Gallagher Calls For ‘Refocus’ On XBRL

Commissioner Gallagher Calls For ‘Refocus’ On XBRL

SEC Commissioner Daniel Gallagher called on the SEC to better integrate XBRL, the interactive data format required for public filings, to “be a smarter, better regulator.” He said regulators “need to refocus” on the use of XBRL and similar technologies to become more efficient. Regulators “need to refocus” on the use of XBRL and similar […]

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Commissioner Stein Calls For Disclosure Rules To Fit Needs Of Different Types Of Investors

Commissioner Stein Calls For Disclosure Rules To Fit Needs Of Different Types Of Investors

SEC Commissioner Kara Stein said the agency should overhaul its disclosure rules to take into account different types of investors. Investors vary in their levels of knowledge, desires for information, and analytical skills, and in her view, the agency must be attuned to these differences. SEC Commissioner Kara Stein said the agency should overhaul its […]

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XBRL Guide Deals With Insurance Risk Disclosures

XBRL Guide Deals With Insurance Risk Disclosures

The FASB issued a guide on formatting the required disclosures for reinsurance companies’ concentrations of credit risk in the eXtensible Business Reporting Language (XBRL). The guide provides examples to help companies and auditors understand the modeling for disclosures of reinsurance-related concentrations of credit risk. The FASB issued on August 7, 2014, a final guide on […]

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Companies Are Asked to Give More Details About XBRL Calculations

Companies Are Asked to Give More Details About XBRL Calculations

The SEC asked companies to provide more information about how they calculate line items in financial statements prepared in the eXtensible Business Reporting Language (XBRL). The market regulatory said its staff in the Division of Corporation Finance, during their reviews of company filings, had found instances when companies failed to explain how they calculated the […]

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High Rate of Custom Tags Weaken Quality of XBRL Filings

High Rate of Custom Tags Weaken Quality of XBRL Filings

An SEC staff report said a large number of small companies are still using custom interactive data tags for the financial statements in quarterly and annual reports instead of the standard ones from the taxonomy for U.S. GAAP. The SEC is trying to cut down on the number of custom tags in part because their […]

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Focus on Accounting Fraud May Reduce XBRL Errors

Focus on Accounting Fraud May Reduce XBRL Errors

The SEC’s chief economist said the agency’s software for identifying problems in financial disclosures may have an unintended benefit.  Craig Lewis, the director of the SEC’s Division of Economic and Risk Analysis, is expecting the quality of information prepared in the eXtensible Business Reporting Language (XBRL), the data format the SEC adopted four years ago […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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