This past June, the Securities and Exchange Commission (SEC) announced that public companies have the option to file their Forms 8-K, 10-Q, 10-K, 20-F and 40-F in a financial disclosure format known as Inline XBRL, also referred to as iXBRL. iXBRL is the merging of two distinctly different document formats – machine-readable XBRL and “people-readable” HTML into a single document.
Currently, the SEC requires that corporate issuers file their financial reports with the SEC in both XBRL and HTML.
The SEC believes iXBRL will decrease filing preparation costs and improve the quality of structured XBRL data. To quote Ford, quality is job #1 for all involved – improving data quality will advance the adoption (and data trust) of XBRL by Street portals and thus, investors.
At the time of the SEC’s June announcement, some issues were a bit vague regarding iXBRL. Here’s your chance for more clarity.
- Oct 5, 2016
- 3:00 PM Eastern Time
- FREE: Pre-register here
There is also an option (fifty bucks) to get CPE credit.
All Vintage clients will have the ability to file with iXBRL for the Q3 2016 filing season.
“The adoption of iXBRL has great potential to simplify the review process for our clients,” said Liam Power, President, Vintage. “Eliminating the duplicate tasks of reviewing, editing and approving the same financial information on two different documents is clearly the intelligent, next step in the evolution of structured data reporting and for our fleXBRL program. By design, our fleXBRL program adapts to meet the needs of our clients and of the SEC.”
Vintage fleXBRL is a leading reporting program that matches the internal workflow for companies of all market-cap and filing complexity:
- fleXBRL Complete: Flexible XBRL tagging process between Vintage and client’s on-staff financial team. Our XBRL Dedicated Accountants execute taxonomy tagging process while clients have real-time web portal / Microsoft Office oversight to review, directly edit and submit both XBRL and associated HTML EDGAR files at any time up to filing deadline.
- fleXBRL Command:100% self-serve web portal / Microsoft Office solution for companies with on-staff XBRL specialist(s). XBRL and associated HTML EDGAR files can be submitted to the SEC at any time up to filing deadline.
- fleXBRL Core: Traditional XBRL tagging and filing solution. All tagging, timeline management and final filing executed by Vintage XBRL specialists. Adherence to filing workflow timeline is essential.
Please CLICK HERE for more information about fleXBRL.