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IFRS Foundation Releases Proposed 2013 IFRS XBRL Taxonomy

On January 18, 2013, the IFRS Foundation released the 2013 IFRS XBRL draft taxonomy for comment. The updated 2013 taxonomy consolidates all IFRS taxonomy interim releases published in 2012 and reflects industry practices derived from an analysis of financial statements prepared by companies’ representatives from the banking, insurance, and extractive industries. [More]

6/30 FYE Filers Have Only 9 Months Versus a Year to Prepare for DFN

Companies with fiscal year ends between June 15th and September 14th (or “6/30 Filers”) have only nine months to prepare for detail note tagging, instead of the year long period the SEC affords fiscal year end companies. The SEC has tried to have US-based companies following GAAP start their XBRL mandate efforts on a 10-Q versus a 10-K. Unfortunately they fell short when it comes to 6/30 Filers starting their detail / Year 2 tagging. [More]