XBRL FAQ
We offer a list of the most popular questions that will help SEC registrars find out more about submitting XBRL to the SEC.
What is the meaning of the term "XBRL"?
XBRL is an XML-based reporting language. It is specifically designed to provide financial information to government agencies. In the US, the SEC wants to see XBRL data from all corporations that publish reports and mutual funds. According to established standards, the main goal of XBRL interactive data is to ensure fairness and transparency for investors. This approach allows you to disseminate information in the most efficient way throughout the market.
Why does the SEC need XBRL registration?
XBRL was created specifically to improve investor performance. This will make it possible to quickly compare information by organization and field. To make it easier to work with files, you can upload them to spreadsheets. In addition, it guarantees efficiency and transparency for the financial market.
And what deadlines should I file for XBRL?
Financial statements created in accordance with US GAAP, and even small reporting organizations and foreign private issuers, are required to submit quarterly and annual reports to XBRL at the SEC. This rule came into effect on June 15, 2011.
- Large Accelerated Filers (market cap $5 billion or more): June 15, 2009
- Other Large Accelerated filers (market cap of $5billion or less): June 15, 2010
- All other Filers: June 15, 2011
How much are your XBRL fees?
Our company gives its customers the opportunity to store SEC XBRL documents for quarterly or annual reports at the most favorable fixed rates. Our services include absolutely everything. You do not have to purchase software or train new employees. We do not offer hourly charges or hidden charges. If you still have questions, contact the manager right now.
Should XBRL documents be in HTML format?
Of course. This form was established back in 2009. Now applicants need to submit HTML and XBRL documents at the same time to the SEC.
What is the most important information for XBRL newbies?
Beginners are required to submit their first XBRL application in forms 10-Q, 10-K, 20-F, 40-F, 485BPOS or 497. Then, XBRL files are published.