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TechTalk Blog - US SEC Commissioner Mike Piwowar Urges Use of In-Line XBRL for Financial Statement Disclosure

Earlier this week US SEC Commissioner Michael S. Piwowar addressed The 34th Annual Current Financial Reporting Issues Conference in New York, New York, on November 16, 2015. The Republican US SEC Commissioner Mike Piwowar had several remarks regarding Interactive Data /XBRL for public...

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TechTalk Blog - US Securities & Exchange & FASB Increasing Use of XBRL for Better Rule Making To Protect Investors

FASB is using XBRL data to sort out the leasing disclosures from information contained in public company financial statements to make better rules are determine if this information is reported correctly to the capital markets. Today, close to 15,000-20,000 data elements contained in the financial statements of a public company is tagged (The DNA of a public company) and linked to accounting rules for better comparison and analysis for better company transparency and accountability

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Tech TALK Blog: US SEC Announces That Public Companies Can Voluntarily Use the Inline XBRL Global Data Format for Financial Statement Submissions to the US EDGAR System to Better Protect Investors

Late last week the US SEC announced that public companies in the United States can voluntarily begin to use the iXBRL data format for submission of financial statements to the US EDGAR System. US SEC has mandated that all public companies (estimated to be 14,500) tag their financial statements – a core document used by the capital markets to drive global economies – with XBRL (Extensible Business Reporting Language) to make business data disclosed to both regulators and the public more transparent and accessible by using a uniform global data format

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TechTalk Blog - European Securities & Market Authority Moves Forward with Inline XBRL -- Will US Securities & Exchange Commission Move Forward With Inline XBRL for Public Company Financial Disclosure?

In June 2016 the US SEC said companies can voluntarily file their financial statements using Inline XBRL. All eyes now turn to see if SEC Chairman Mary Jo White -- will she mandate Inline XBRL for public company financial statement disclosure before President Obama leaves office and she resigns her position Chair and follow the ESMA mandate for EU public companies and other regulators such as UK Companies House

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