RDG is one of the largest filers of iXBRL documents with the Securities & Exchange Commission.
Below are some details that we hope will shed some light for you regarding the iXBRL mandate.
What is iXBRL?:
iXBRL is short for Inline eXtensible Business Reporting Language. It is essentially a hybrid of your EDGAR & XBRL documents: HTML + XBRL = iXBRL
Why iXBRL?:
Potential benefits the SEC has outlined regarding the move to iXBRL:
- Gives the preparer full control over the presentation of XBRL disclosures within the HTML filing.
- Helps eliminate inconsistencies between HTML and XBRL filings and improve the quality of the data.
- Enhance the usability of disclosures (already tagged in XBRL) for reviewers and investors who no longer have to view the XBRL data separately from the EDGAR document.
When do you begin filing in iXBRL?
Filers will be required to file with iXBRL with their first Form 10-Q filed for a fiscal period ending on or after:
- Large accelerated filers that use U.S. GAAP will be required to comply beginning with fiscal periods ending on or after June 15, 2019.
- Accelerated filers that use U.S. GAAP will be required to comply beginning with fiscal periods ending on or after June 15, 2020.
- All other filers will be required to comply beginning with fiscal periods ending on or after June 15, 2021.
To review the notes from our June 2019 Webinar on iXBRL implementation, please click here.
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