iXBRL merges machine-readable business reporting data into a human-readable HTML page.
The standard is proven and widely used around the world. For example:
- More than two million companies file using iXBRL each year to HMRC, the U.K. tax authority, and to Companies House, the nation’s business registrar.
- As many as 9,000 listed companies and investment funds use iXBRL to submit financial statements to the Japanese Financial Services Agency.
- The Danish Business Registrar has collected over 100,000 iXBRL-formatted financial statements for the purposes of registration and market information.
iXBRL will deliver a single source of truth for disclosures.
The goal is to achieve greater accuracy, consistency, transparency and comparability in data submitted to the SEC.
THE SEC’S COMPLIANCE DEADLINES
The final rule requirements will be phased in over three years.
For large accelerated filers that use U.S. GAAP, compliance was required starting with fiscal periods ending on or after June 15, 2019.
Visit now http://www.ixbrl.com/ to get more details
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