Leaving the preparation of your SEC compliance documents to inexperienced service providers can lead to gross errors in your XBRL documents. As a CFO, are you guilty of this too? What can you do about it?
With the current spurt in ecommerce, many companies use share-based compensation to attract and retain quality talent. However, with a slip in valuation, the market may negatively discount the high share-based compensation. Should share-based compensation be treated as a cash expense?
The US SEC requires filing in XBRL for standardization and machine led data consumption, and in HTML for easy readability of data. But many times these reports are not in sync. What are the reasons for this and how can you avoid it?
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.
Though XBRL has in-built rules to validate data at source, there are some data inconsistencies that still pass the validation rules yet provide incorrect data. Read here to know how these can be tackled by having multiple rules and checks.
A guide for those who have decided to prepare their SEC filing in inline XBRL format, this document introduces SEC filers to the SEC's inline XBRL viewer. It also details the need to transform inline xbrl to xbrl and to validate the inline xbrl document. Read to know more.
Since the SEC's announcement on voluntary filing in iXBRL, more and more companies are looking to adopt iXBRL given its time and cost efficiencies. In response to any questions filers might have, we have come up with a list of 5 easy inline XBRL tagging rules to help you master your inline XBRL SEC filing.
The SECs move to accept voluntary iXBRL filings is a blessing for the filing community. It has long term benefits of reduction in report preparation time and costs and increase in data use for analysis. Here is a list of 10 facts you need to know about the SEC's announcement on inline XBRL filing.
The SEC has announced that it will allow companies to voluntarily file structured financial statement data in Inline XBRL (iXBRL). What does this move augur for filing companies and for data quality in general?
Good quality data can be achieved by putting in place validation rules and checks that can help clean data at the source itself. But quality has many dimensions and therefore checks too need to go beyond data-related ones to include technical validity, inconsistencies and other hygiene factors. How can we address the many dimensions of data quality?
Other Comprehensive Income is a better way to build a more accurate picture of financial performance. An IRIS Study found out that for years 2014 and 2015, if the OCI transactions were to be actually realized, these could have potentially affected the Net Profits of the respective years by as much as 15%. Read to find more.
The S&P 100 companies have used up nearly a trillion dollars for equity buyback, dividend payment and capital expenditure in year 2015. A sectoral analysis of S&P 100 Capital Expenditure for 2015.
In the past 3 years, a massive $1.76 trillion cash has been returned to shareholders by S&P 100 companies; 43% of which was towards dividends and 57% towards stock-buybacks. Stock-buybacks seem to be the flavour of the season. Do you have these shares in your portfolio to cash in on the trend?
The SEC filing deadline for 10Ks is now behind us. While it's a good time to sit back and relax a little, it's also the right time to take stock and document your learnings. 4 miust-dos to smoothen your compliance this year.
$764 bn or 40% of aggregate FY 2015 revenues for top US multinationals is lying offshore. With increased focus on the existing deferral tax system can we expect a homecoming for undistributed foreign earnings?
With the cost of non compliance moving from penalties and litigations to audits, diminished brand value and higher attrition rates, more & more organizations are adopting Proactive Compliance that maps compliance processes, controls, audits and risk plans back to the business. A 5 step guide to incorporate proactive compliance into your business.
Under the Anti Money Laundering initiative of Government of India, the Prevention of Money Laundering Act, 2002 mandates banks, financial intermediaries, financial institutions, enforcement agencies & national data portals to report all Cash Transactions & Suspicious Transactions to Financial Intelligence Unit India ( FIU-IND). Are You Ready?
Plumetting oil prices have hit banking stocks in two ways. Direct: Credit exposure to oil and Indirect: Credit exposure to other industries hugely dependent on oil. Is the financial backbone of the economy strong enogh to hold the compression?
Monsanto, an American agrochemical & agricultural biotechnology corporation is in the news for an $80 mn penalty that the SEC has slapped on the firm for accounting violations. An analysis to find out what the numbers say.
72% of organizations worldwide have at least one application or a portion of their computing infrastructure in the cloud yet there are several organizations that hesitate to make the move. Are you also relinquishing the opportunity for true innovation?
With increased focus on the accuracy and transparency of data, standards such as XBRL are increasingly taking centre stage when it comes to data aggregation. While this can often be overwhelming for users, it is important to plan and implement solutions that are adaptable and offer long term benefits over short term wins. Are you ready to move from aggregation to analysis?
The SEC Deadlines Calendar 2016 carries important dates for SEC filing of key forms like Form 10-K, Form 10-Q, Form 8-K and others such as Form 3, Form 4, Form 5, Form 20-F, Form DEF 14-A, Schedule 13-G, Form 13-F and Form 13-D.
With the SEC increasing focus on the quality of data in XBRL filings, heres our 6 point cheat sheet to ensure you always stay on top of it..
XBRL Global Ledger ensures standardization of your transactional reports, but can it ensure accurate data? An e-audit application controls and audits your accounting records, ledgers and journal entries as per business rules: regulatory as well as custom. Implement now to reap benefits.
2015 has been an exciting year for XBRL with the standard witnessing much progress and adoption around the world. From OIM to XBRL GL 2015, and Taxonomy Packages Specification to Assertive Severity Specification, heres a quick recap of some important technical updates the standard saw in 2015.
6 Reasons that suggest why XBRL is THE next wave in Electronic Reporting. With XBRL fast becoming a global standard, this is the right time to understand why you should invest in XBRL.
The US SEC allows companies to extend the US GAAP Taxonomy to suit their data needs. Extensions, though providing data granularity , take away from standardization. Is there a way out?
Under the Foreign Account Tax Compliance Act (FATCA), the U.S Internal Revenue Services (IRS) mandates Foreign Financial Institutions (FFIs) to report all foreign financial accounts held by U.S. domestic taxpayers or else be liable to pay withholding penalties. Are You Ready?
The compliance officer of an enterprise is the pallbearer of the company when it comes to assessing and managing risk. Read how you can integrate Enterprise Risk Management into the organizations DNA and move away from merely managing compliance.
Valeant, the Canada-based multinational specialty drugs company is in the news since a short-sell report alleged that it is another Enron in the making. Could the firm have avoided the negative press if it had proactively disclosed more information than was required by the law?
Under the SECs Disclosure Effectiveness Initiative, SEC has requested for comments on Regulation S-X that deals with the registrants disclosures related to company business transactions with entities other than itself. What is Regulation S-X and what do you need to do?
iXBRL is simply a computer-processable and viewable document which combines the qualities of XBRL and HTML in a single document which is viewable in a browser. An iXBRL document is a well-formatted HTML file with the XBRL information embedded beneath.
With SEC filings to be made every quarter, a compliance office is busy through the year. Is there a way to ensure a top-quality filing while having full visibility and control over your document?
Cloud Computing is finding application in organizations compliance programs making teams more productive, enabling collaboration, saving costs and crunching timelines. Are you part of the change?
What is it about compliance that employees maintain an arms length from it and how can it be made part of the organizations mainstream culture?
With increased complexity in the regulatory environment, and growing demands on the compliance office, can technology help reduce an organizations risk of non-compliance?
An XBRL US study suggests that more than 50% of XBRL quality issues due to the use of wrong signage. With the setup of the XBRL US Center for Data Quality, the message to the community is clear: Quality matters.
XBRL has the ability to separate the presentation layer from the calculation layer i.e. the way the information is captured for calculation versus for presentation. Hence, a negative reported item need not be negative in XBRL. Read on to find out the effect of wrong signage in XBRL filing.