Category: GAAP 96

As the SEC continues to focus on how public companies use non-GAAP measures, they have issued updated Compliance & Disclosure Interpretations (C&DIs) regarding their usage. Non-GAAP financial metrics are numeric representations of performance, finances, or cash flows that don't follow Generally Accepted Accounting Princi
Since October 2014, XBRL exhibits submitted by public companies have carried the same liability provisions as HTML filings under the anti-fraud provisions of the Securities Law. Rule 406T by the SEC requires filers to submit accurate XBRL filings with a “good faith effort” and to be held to the same standards of accuracy and
On the second day of the year, U.S. House of Representatives failed to pass HR 37, "Promoting Job Creation and Reducing Small Business Burdens Act". HR 37 would have exempted small public companies with under $250 million in annual revenue from filing in XBRL. The focus of the bill was to mitigate the costs public companies enco
Colonial recently performed a side by side analysis of XBRL in 10-Q and 10-K filings submitted by our competitors. The analysis presents two examples where incorrect tags were placed and the potential remedies. Each example included different inconsistencies at different locations within the financial statements. As shown in