Stay current on changes and developments in corporate law with a wide variety of resources and tools.
June 29 — XBRL US and five companies have formed the XBRL US Center for Data Quality, which aims to improve the utility of XBRL financial data filed with the Securities and Exchange Commission.
The five companies are Merrill Corp., RDG Filings, RR Donnelley, Vintage and Workiva Inc.
XBRL, or eXtensible Business Reporting Language, is a global standard for exchanging business information. Since 2009, the Securities and Exchange Commission has phased in requirements that issuers file their financial disclosures using the language.
According to a June 24 announcement, the Center for Data Quality aims to make it easier for companies to create consistent, quality financial statements in XBRL format. The center will “channel support and action” through the XBRL US Data Quality Committee to address the public's concerns about XBRL data quality, the release states.
The committee plans to develop guidance to ensure uniform, consistent tagging of financial data as well as automated validation rules. The validation rules will be freely available to public companies, software providers and others, according to the release.
The Financial Accounting Standards Board will be involved in the data quality committee as an observer, the release states. The committee's members include representatives from Bloomberg LP (the parent company of Bloomberg BNA), Credit Suisse HOLT, Calcbench and CFA Institute.
The announcement is available at http://xbrl.us/news/center-formed-to-address-xbrl-data-quality-concerns/.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)