Accelerated Filers and smaller reporting companies are required to file their XBRL Quarterly Reports (10-Qs) for the period ending after June 15, 2012 XBRL with Detailed Footnote (DFN) taxonomies.
Based on our experience with DFN, we cannot overemphasize the importance of starting early and staying on track with your timeline. Detailed tagging requires substantial time and effort when compared to block tagging. For this reason we suggest that you begin the process early on.
DFN requires approximately three to five times as many tags as block tagging. Since you will be using many of the level 2, 3 and 4 tags for the first time, your time for review will increase in proportion to the increase in number of tags. You will likely have more comments and questions about your tagging, and correspondingly, the time required for us to review and assess your comments will increase.
Contact us now to assure your success.
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