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.