XBRL US has announced that it will host two free 75-minute virtual informational sessions on Tuesday, February 16, 2021 and Thursday, February 18, 2021 at 1:30 PM ET that will aid preparers in getting ready for the new FERC XBRL mandate. XBRL US is hosting these webinars to broaden attendees’ exposure to various XBRL solution providers and to help filers get an in-depth look at how XBRL preparation will affect the reporting process. The two-day event will also feature demonstrations from select member organizations, including Novaworks.
As soon as November and December of this year, it will be mandatory for FERC quarterly forms to be prepared in XBRL format. During the virtual sessions, XBRL US intends to answer commonly asked questions regarding the new FERC disclosure requirements, including:
- What are validation (business) rules and how do they work in practice?
- How will footnotes be handled with the new technology?
- What are “typed dimensions” and “text blocks”? What are the mechanics of applying them?
- How can you know how your filing will appear once it’s rendered?
These remote sessions are designed for FERC filers who prepare quarterly Forms 1-Q, 2-Q, 3-Q (electric), 3-Q (natural gas), 6-Q and annual Forms 1, 2, 6, 60, and 714.
During our webinar session, we will be presenting our newest XBRL software solution, XBRLworks, which will launch with support for the FERC XBRL mandate. XBRLworks is a cloud-based system featuring a streamlined HTML interface that produces well-structured, compliant XBRL behind the scenes as users interact with intuitive forms and collaboration tools. We will be offering an instructive presentation about our new product and the FERC XBRL mandate itself on Tuesday, February 16th.
We encourage everyone interested in the FERC XBRL mandate to visit xbrl.us for more information and to register for the event.
XBRL US is the nonprofit standards organization that worked with the FERC to create the FERC XBRL Taxonomy that issuers will use to comply with these new disclosure requirements.
Sources:
Webinar: Get Ready for FERC XBRL Requirements (xbrl.us)
