Thursday, December 12, 2013

The Fire-Round

by: Paul C. Bevins, Account Executive

Okay, so how many of you have been a part of those regular staff meetings with ten or more people that seem to go on for hours? Often there is an agenda that is a good starting point for conversation, but beyond that things can get unwieldy.

Thursday, November 21, 2013

The State of XBRL: Asia & Beyond...

by: Cody Potter, Analyst

Having previously discussed the current state of XBRL in the United States, as well as Europe, we will wrap up the conversation by focusing on XBRL developments in Asia and the rest of the globe.

XBRL has been prevalent in capital markets in China, Japan, and South Korea for the better part of the past decade. As India, Indonesia and similar, rapidly emergent nations grapple with the growth of their financial infrastructure, XBRL will surely continue to be used in innovative ways in Asia.   

Thursday, November 7, 2013

XBRL: Amending Extensions

CompSci Resources, LLC

In 2009, the Securities and Exchange Commission (SEC) introduced eXtensible Business Reporting Language (XBRL) to, along with other goals, help standardize financial reporting. Included in this language is a base taxonomy, which can be amended using extension concepts and extension dimensions.

In my last blog, “Extending Taxonomies”, I discussed the value that extensions bring the electronic filing world, as well as some of the possible complications. The extension taxonomy is necessary and valuable to help explain industry-specific ideas, company-specific approaches to filing, and other filer accounting nuances.

However, improper utilization or overuse of extensions carries negative implications for both filers and investors. In this blog I will discuss some possible ways to address the potential complications.

Wednesday, October 23, 2013

The Challenge With Young Investors, Part 1

by: Michael Castro, XBRL Production Manager
CompSci Resources, LLC

A year ago, I had the opportunity to go to the Investment Company Institute General Membership Meeting (ICI GMM) in Washington D.C. While the whole experience taught me quite a bit about the mutual fund industry, what has stuck with me the most was a common theme throughout the entire conference: How do mutual fund managers market their products to the younger generation?

This question really surprised me at the time. To me, financial products such as mutual funds did not seem like the most “marketable” things, and if I were to see an advertisement online or a commercial for it on TV, I probably would not think twice about it. But I guess that’s the point.

Tuesday, October 8, 2013

XBRL: Extending Taxonomies

CompSci Resources, LLC

In 2009, the U.S. Securities and Exchange Commission (SEC) implemented eXtensible Business Reporting Language (XBRL) to, along with other goals, help standardize financial reporting. For the most part, companies can “tag” their financial data with the standard concepts found within the US GAAP taxonomy. However, companies occasionally find that the US GAAP cannot fully explain certain facts or line items within their filings.

Wednesday, September 25, 2013

The State of XBRL: Europe



Following up on "The State of XBRL - United States", we will continue by examining how the specification has been utilized in Europe. Whereas XBRL usage in the United States and Asia has found its niche mainly in capital markets, European stakeholders have applied the reporting language more broadly, in an assortment of inter-government and cross-border usage. There are currently more than 55 active XBRL identified projects in nineteen European countries according to xbrl.org.

Wednesday, September 18, 2013

Accounting for the Calculation Conundrum

by: Paul C. Bevins, Account Executive

“Few individuals in the XBRL community would disagree that calculations are one of the more confusing and frustrating aspects of the specification. In theory, calculations should be fairly straightforward. All the numbers on the financial statements should add up to the stated totals, but as we know the devil is in the details. Hopefully we can shed some light on those details by reviewing not only the basics of creating calculations, but also certain scenarios that are either tricky or downright impossible given the current limitations of the specification.”

Wednesday, September 4, 2013

Uncovering Anomalies: 9W Search and Amazon

CompSci Resources, LLC

Marc Strausberg, CIO and co-founder of the analytics tool 9W Search, recently wrote an interesting blog about Amazon’s recording of Research and Development Expense. It was interesting because Amazon recorded a value of zero for us-gaap:ResearchAndDevelopmentExpense. Instead, they used an extension concept amzn:TechnologyAndContentExpense which appears to have a similar business meaning to R&D:

Wednesday, August 21, 2013

The State of XBRL: XBRL in the United States


After close to a decade of preparation, the U.S. Securities and Exchange Commission (SEC) completed its three-stage implementation plan for all US filers in June 2012 when the smallest reporting companies began filing with fully-detailed note sections. Today currently over fifteen thousand public companies and eight thousand banking institutions use XBRL to submit financial data to the SEC. With XBRL fully implemented, companies and analysts are developing ways to use the interactive data.

Thursday, August 8, 2013

XBRL Audit: The Future is Now

by: Paul C. Bevins, Account Executive

XBRL and audit, the future is now. In the coming weeks and months the last remaining companies that currently enjoy temporary XBRL legal liability immunity will see their grace periods come to an end. This will create a very real and immediate need for an XBRL audit process, and with that accurate, speedy and cost-efficient software tools.

The possibility of a filing being at risk for errors and omissions is very real. Until now, most filers have not had to worry about the quality of their XBRL filings, only that they filed something to comply with the U.S. Securities and Exchange Commission (SEC) requirement.

Wednesday, January 9, 2013

CompSci Resources, LLC Awarded Patent For Automated XBRL Tagging Technology

Washington, DC – CompSci Resources, LLC (CompSci), a leading provider of eXtensible Business Reporting Langauge (XBRL) software and related services, announced today that it has been granted a patent by the U.S. Patent and Trademark Office. The patent was granted to CompSci for its technology that automates the review, organization, tagging, and analysis of data for generating XBRL documents.

CompSci’s patented technology automates the XBRL tagging process with features such as automated taxonomy creation and concept selection, automated data parsing and label creation, automated data analysis, as well as other automated functionality. The patented technology automatically reads, interprets, and converts both unstructured documents as well as previously created XBRL files to generate XBRL regulatory filings.