XBRL Update: July 2010

July 12, 2010

On July 8th, the SEC deployed updates to its official XBRL rendering engine (“Viewer” and “Previewer”) to address rendering issues for footnotes tagged at a detailed level. Below, learn more about this development.

Q2 2010 is the first quarter many Large Accelerated filers will begin filing footnotes tagged at a detailed level along with their face financial statements.  Unfortunately, preliminary rendering results with the old Viewer were not very promising. For example, our testing showed the following rendering errors for information tagged at the detailed level (to name a few):

  • Certain segment reporting information and dimension members did not render
  • Notes tagged at a detailed level with the words “Cash” or “Equity” in the group title did not render
  • Unrelated monetary elements, abstracts, data and time periods rendered repeatedly in multiple different notes, which lead to misleading information and made reviewing virtually impossible
  • Decimals and currencies did not render appropriately

To facilitate the first wave of XBRL filings with detailed level information, the SEC enhanced its rendering engine to eliminate certain rendering errors and issues.

What does this mean to my company?
The SEC’s enhanced Viewer fixes many “bugs” and minor rendering issues for both year one and year two requirements. Significant fixes primarily relate to:

  • Improved handling of mixed data types (units and decimals) within the same report.  The Viewer can now display different units of measure in each group
  • Updates to level iv detail tagged rendering to ensure complete display of all tagged data and improved rendering of column headings
  • Allows for the display of currency symbols to ensure currency symbols are not displayed in the rendering for non-monetary amounts
  • Improvements made to display non U.S. Dollar and other symbols
  • Enhancements to Statement of Stockholders’ Equity rendering and detailed reports to eliminate duplicated ending balances

However, one issue that is not fixed relates to the 2009 Commitments and Contingencies element.  Accordingly, we will continue to use the SEC prescribed workaround for this line item, where applicable.  Business Wire is already updating the source code on our rendering tool and we expect to have it running with the enhancements shortly.

Finally, please keep in mind that although the SEC’s Viewer has been updated, differences between the HTML and XBRL filings will continue to exist.  Potential rendering differences expected for Level iv detailed tagging include:

  • Labels in the same group may not exactly match the expected footnote labels
  • Narratives and tables may be combined or split up to improve rendering and review

Business Wire is more than happy to review with you rendering changes and differences that apply specifically to your filing.

Have any XBRL questions or concerns?  Simply contact us at XBRL@BusinessWire.com.


Follow

Get every new post delivered to your Inbox.

Join 590 other followers

%d bloggers like this: