XBRL

 

The advantages of XBRL

05 Oct, 2018  Posted By Shabeer   Posted in XBRL
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XBRL, also known as eXtensible Business Reporting Language, is an open standard reporting language that was introduced with the intention of improving the quality of financial data reporting. It is a form of extensible markup language (XML) that is used … Continue reading

 

The Federal Data Strategy: An Overview

27 Sep, 2018  Posted By Guru Raj Singh   Posted in XBRL
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The digital age is no longer a futuristic world, nor is it considered to have reached its tipping point. In fact, it is the contrast and its expansion and evolution will indeed continue to gain pace. As a result of … Continue reading

 

XBRL awareness required: Does your company need to file AFS in iXBRL with CIPC?

21 Sep, 2018  Posted By Shabeer   Posted in XBRL
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From 1 July 2018, CIPC (Companies and Intellectual Property Commission) mandated that all qualifying entities in South Africa must submit their Annual Financial Statements (AFS) in iXBRL with their annual returns. Yet, many companies are still unaware of the mandate. … Continue reading

 

The European Single Electronic Format (ESEF) – What You Should Know

18 Sep, 2018  Posted By Karthik Sathuragiri   Posted in XBRL
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From 1 January 2020, issuers with listed securities in EU regulated markets will be required to prepare annual financial reports (AFRs) in line with the European Single Electronic Format (ESEF). These changes will impact thousands of companies across the EU … Continue reading

 

The United States and Data Standardization – The Long Road Ahead

06 Sep, 2018  Posted By Guru Raj Singh   Posted in XBRL
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Data standardization has often been trumped as the gold standard for financial reporting – and justifiably so. Not only can it help ensure greater transparency and comparability between the financial performance and position of companies or local government bodies, but … Continue reading

 

The growing importance of data analytics for the SEC

23 Aug, 2018  Posted By Guru Raj Singh   Posted in XBRL
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On 25 June 2018, the U.S. Securities and Exchange Commission (SEC) published its draft strategic plan for fiscal years 2018 – 2022. Although comments for the draft closed on 25 July 2018, the draft provides ample insight into the SEC’s … Continue reading

 

XBRL – a standard for now and the future of compliance reporting in the US

03 Aug, 2018  Posted By Guru Raj Singh   Posted in XBRL
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XBRL has been around for a few years now. At the time of its introduction, much attention was given to the possibilities that XBRL reporting could offer – digitization, increased comparability and reliability to name a few. However, it’s equally … Continue reading

 

XBRL around the world

31 Jul, 2018  Posted By Karthik Sathuragiri   Posted in XBRL
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While there has been increased focus on XBRL within the United States over recent months, in part due to the SEC’s recent announcement that iXBRL will be used by operating companies and mutual funds going forward, it’s also worth taking … Continue reading

 

Ireland Revenue accepts new iXBRL taxonomies – Irish GAAP (FRS102), FRS101 and EU IFRS

27 Jun, 2017  Posted By Balaji M   Posted in FRS102, iXBRL, Revenue, XBRL
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Revenue Ireland introduced additional taxonomies (FRS 101, FRS 102 and EU IFRS with Irish extensions) on 16th December 2016, as a Public Working Drafts (PWD). Interested parties were invited to review the PWDs for the three additional taxonomies and provide … Continue reading

 

ESMA Initiates Inline XBRL Testing

26 Jun, 2017  Posted By Balaji M   Posted in ESMA, iXBRL, Revenue, XBRL
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Issuers listed on stock markets in the EU are governed by the European Transparency Directive. This directive requires such listed companies to prepare and submit financial reports in a European Single Electronic Format (ESEF). European Securities and Markets Authority (ESMA) … Continue reading

 

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