XBRL US has begun its third public comment period for guidance and rules meant to provide consistency in XBRL data filed with the Securities and Exchange Commission.
XBRL US is an industry consortium that helps standardize the use of XBRL, a data-tagging language for financial information. Public comment on the new guidance and rules will be received by XBRL US’s Data Quality Committee (DQC).
The public review contains over 3,000 proposed additions to the DQC’s previously issued rule for detecting inappropriate negative values. The rules include concepts reported in company face financials as well as footnote disclosures.
Public comments will be taken over a 60-day period beginning Oct. 13, and will be evaluated for incorporation into the final rules that will be made freely available and contributed to the open source Arelle XBRL platform. Those wishing to comment will be able to review a plain English description of the rule and a listing of the proposed elements to be added. Developers can download the open source code to incorporate into their own software, to use as a reference and to provide feedback.
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