The SEC that was only focused on gathering data for so many years is now concentrating on the quality of data that is being collected. A lack of XBRL knowledge on the filers’ part just doesn’t cut it anymore as a reason to submit incorrect information. What can CFOs do to be in command of their XBRL filing?
CRILC reporting introduced in 2014 requires quality submissions by reporting institutions. But it can be a challenge for large banks to handle enormous CRILC data sets and check conformity with previous quarters. Is there a solution?
7 years after XBRL was introduced for SEC filing in the US, it hasn't achieved its true potential with filers. It continues to be pinned down as compliance cost instead of being seen as a strategic aide to the CFO. But XBRL is about more than just cost and has a lot to offer even to filers.
MCA recently release draft CNI taxonomy 2016 which contains a section dedicated to report CSR expenditure by companies. CSR activities, made mandatory in India since 2014, though not related to the business of the Company have accounting implications. Read to find out, how you need to report your CSR spend in XBRL