On September 16th, the Financial Accounting Standards Board (FASB) staff released proposed technical and other conforming enhancements for the 2026 SEC Reporting Taxonomy and the related release notes for review and comment. The proposed taxonomy improvements mainly include deprecations of elements because of infrequent use in practice or superseded guidance. Continue reading "FASB Publishes Technical and Other Conforming..." »

On July 28th, the Financial Accounting Standards Board (FASB) issued the proposed Taxonomy Implementation Guide, Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is based on the 2025 GAAP Financial Reporting Taxonomy. The proposed guide demonstrates the framework for the reporting of the disaggregation of income statement expenses in accordance with the FASB Accounting Standards Codification Subtopic 220-40. The guide is comprised of examples and solely focuses on detail tagging (Level 4). Continue reading "FASB Publishes Proposed Taxonomy Implementation..." »

Be a part of GovFin 2025 this Wednesday, July 30, 2025 and Thursday, July 31, 2025! XBRL US, in conjunction with the University of Denver, will host a web conference via livestream to discuss how the Financial Data Transparency Act (FDTA) can facilitate the efficient rollout of digital reporting for municipal bond issuance and other disclosures with data submissions in a structured, machine-readable format. The event’s presentations will address how this will impact governments, municipal analysts and portfolio managers, data and analytics tool providers, and regulators. {expires: 2025-08-01} Continue reading "Registration Still Open for XBRL US’ Virtual..." »

XBRL US staff will hold a webinar that will focus on EDGAR Next, the rule concerning access to and management of accounts on the SEC’s EDGAR system. More specifically, staff will discuss the transition to EDGAR Next, best practices, lessons learned during the phase in, and special situations that may affect certain filers and filing agents. The rule represents a significant change in the way public companies and investment management companies submit filings to the SEC’s EDGAR System. The SEC reminds registrants that enrollment is required by year-end 2025. {expires: 2025-07-24} Continue reading "XBRL US to Hold Webinar: EDGAR Next Enrollment..." »

XBRL US will hold a webinar that will focus on SEC filing fee disclosure requirements. XBRL US staff will provide an overview of lessons learned in the early phase of the launch that may help SEC filers who are beginning to comply in the next phase. The webinar will take place on Wednesday, July 16, 2025, beginning at 3:00 p.m. Eastern. The event is free and open to the public. Registration is required. {expires: 2025-07-16} Continue reading "XBRL US to Discuss SEC Filing Fee Disclosure..." »

The SEC's Office of Structured Disclosure reminds the financial reporting community that Rule 405(e) of Regulation S-T provides guidance for tagging requirements for financial statement schedules, which includes a fund's Schedule of Investments (SOI), under rules 12-12, 12-13, 12-13A through 13D, and 12-14 of Regulation S-X. Accordingly, a Business Development Company (BDC) is required to tag its SOI in compliance with the tagging requirements in Rule 405(e) of Regulation S-T. Continue reading "SEC Publishes Guidance Regarding Incomplete and..." »

On June 16th, the EDGAR system was upgraded to Release 25.2, which now supports the 2025 version of the International Financial Reporting Standards (IFRS) taxonomy. The 2025 version of the IFRS taxonomy is the same taxonomy version that the International Accounting Standards Board made available on March 27, 2025. Continue reading "SEC Issues EDGAR 25.2 Release XBRL Taxonomies..." »

XBRL US' Data Quality Committee (DQC) will host an online meeting for industry leaders to discuss plans to implement rules and guidance for public companies complying with the SEC's XBRL requirements. The webinar will take place on Wednesday, June 18th, and will begin at 12:00 p.m. ET. {expires: 2025-06-19} Continue reading "XBRL US Staff to Host Data Quality Committee..." »

On June 2nd, the SEC's Division of Economic and Risk Analysis (DERA) published an analysis of custom tags used in XBRL filings submitted by issuers to comply with the 2009 Interactive Data tagging rules that require financial statement information to be reported in XBRL, a structured, machine-readable format. DERA observed trends in filers' use of custom tags in their XBRL exhibits submitted in Forms 10-K and 10-K/A using US GAAP for fiscal years 2022 through 2024. The analysis of these forms indicates a decrease in average custom tag rate for filings across all filer status, while the large accelerated filer category rate remained flat during that period. Continue reading "SEC Publishes US GAAP–XBRL Custom Tags Trend..." »

The SEC's Investor Advisory Committee will hold an open meeting via live webcast on sec.gov that will take place on Thursday, June 5, 2025, from 10:00 a.m. to 4:45 p.m. ET. The meeting is free and open for the public to attend. The meeting will cover committee matters, including subcommittee reports and approval of previous meeting minutes. {expires: 2025-06-05} Continue reading " SEC Staff to Hold Investor Advisory Committee..." »

The XBRL US Center for Data Quality has published Version 27 of DQC rules and guidance for public review and comment. The release includes seven automated checks and rule updates for filers using the US GAAP and IFRS taxonomies from Tuesday, April 14, 2025, through Saturday, May 31, 2025. Continue reading "XBRL US Issues Version 27 of DQC Rules,..." »

On April 30th, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would provide accounting guidance for debt exchange transactions with multiple creditors. The proposed ASU is based on a recommendation of the Emerging Issues Task Force (EITF), which aids the FASB in improving financial reporting through the timely identification, discussion, and resolution of financial accounting issues within the framework of the FASB Accounting Standards Codification. Continue reading "FASB Issues Proposal to Enhance Accounting for..." »

XBRL US will hold a webinar that will focus on data quality and corporate disclosures. The webinar will take place on Thursday, May 1, 2025, from 3:00 p.m. to 4:00 p.m. via Zoom. The event is free and open to the public, though registration is required. Continue reading "XBRL US to Host Webinar: Data Quality,..." »

On April 4th, the XBRL Standards Board announced that it approved the release of a second Public Working Draft (PWD) of the Table Constraints specification. The modular enhancement to the XBRL-CSV format is designed to enable highly efficient validation of business rules, particularly when working with large XBRL-CSV reports. By utilizing the tabular framework of XBRL-CSV, Table Constraints specification allows validations to be performed on a row-by-row basis, greatly improving processing speed. Continue reading "XBRL-CSV Validation Upgraded with New Table..." »

Join us at GovFin 2025! XBRL US, in conjunction with the University of Denver, will host a conference to discuss how the Financial Data Transparency Act (FDTA) can facilitate the efficient rollout of digital reporting for municipal bond issuance and other disclosures with data submissions in a structured, machine-readable format. The event’s presentations will address how this will impact governments, municipal analysts and portfolio managers, data and analytics tool providers, and regulators. Novaworks is a sponsor of this event, and our staff will be on hand to answer questions and provide information. Continue reading "XBRL US Opens Registration for GovFin " »