IDEA Filing Agent

"After 75 years of document-based static financial reporting, whether in paper documents or in electronic equivalents, it is exciting to see the SEC poised to cross the 'data threshold' and help investors receive financial information that is dynamic, usable and ready to go as they make their investment decisions. And when the investor wins, so does the public company, fund, or other filer who simultaneously benefits from greater transparency and trust in our markets. By tapping the power of interactive data to tear down barriers to quick and meaningful investment information, markets can become fairer and more efficient while investors can possess far better quality data than was ever possible before." - David Blaszkowsky, Director of the SEC's Office of Interactive Disclosure.

XBRL/IDEA Service Bureau: Toppan Vite New York

Why use an XBRL Service Bureau?

While it is possible to prepare interactive XBRL data for filing on your own, it could take up to 300 hours to read the information needed to properly prepare SEC compliant XBRL documents. Developing an understanding of the rules and guidelines set forth in the US GAAP Taxonomy Preparers Guide is essential to constructing a properly formatted XBRL EDGAR filing.

XBRL is not, by nature, a human readable format; as such a class of specialized software has been developed specifically for working with the next generation of EDGAR filings. This software facilitates the construction and validation of XBRL interactive data and company codes for the creation of an SEC compliant EDGAR filing package.

The good news is that there are a number of firms standing on the cutting edge of the technology and knowledge necessary to help companies comply with the SEC’s XBRL mandate. Toppan Vite New York is one such firm who will work with you and your colleagues to set-up your tagging now and review your taxonomy – dictionary of accounting terms – to make sure it suits your reporting needs.

The SEC’s Mandate on XBRL filing has changed the way financial information is transmitted to the U.S. Government and used by investors. Initially, a subset of large U.S. based organizations was encouraged to submit their filings in XBRL. In year two, all other domestic and foreign filers will begin filing in XBRL format, and in year three, all remaining companies will be following suit.

Toppan Vite – Setup of Taxonomy:

Contract Toppan Vite New York to tag 4 key quarterly documents and Toppan Vite New York will set up your taxonomy at no extra charge.

Toppan Vite New York offers the following services:

  • Set up your taxonomy (specific codes for financial data)
  • Manage all of your tagging and filing details – no hardware or software to buy
  • Prepare you well in advance so your first filing is simple and runs smoothly
  • Explain the flow of information and data so you understand how easy it is to file with Toppan Vite New York.
  • Answer any and all questions

Even if your company is not required to file XBRL until late 2009, preparing for XBRL filing now offers the ability to gain more exposure to both the analyst and investor communities.

Sphere: Related Content

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  • The investor protection agency said interactive filings will start being available late this year through IDEA, which will eventually replace the EDGAR system after running in parallel for about three

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December 4th 2008
Tags: XBRL, XBRL Utilities

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Tools for Utilizing XBRL/IDEA Documents

In addition to the online prototypes mentioned earlier, XBRL.org links to a series of tools allowing investors, analysts, potential IDEA/XBRL Filers and enthusiasts to start working with data structured in XBRL. Tools for Instance Document Creation Taxonomy Creation XBRL Validation In addition to the software based tools, XBRL members have provided brief descriptions of products and services. ...
December 1st 2008
Tags: EDGAR, XBRL, XBRL Utilities

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SEC Announces Mutual Fund Comparisons Using Interactive Data Now Available

As of April 7th, 2008, the prototype of the upcoming (final) Mutual Fund Reader website became available to the public. In addition to the Mutual Fund Reader functionality, the SEC's Interactive Data Viewer page contains links to: Interactive Financial Reports which can be used to view, chart and compare company financial ...
November 11th 2008
Tags: EDGAR, IDEA, XBRL

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SEC: What is Interactive Data

From the SEC's spotlight on Tagged Data and XBRL Initiatives for EDGAR Filings: What is Interactive Data? Interactive data means giving investors quicker access to the information they want in a form that's easily used; helping companies prepare the information more quickly and more accurately; and helping knowledge capital keep up with ...
November 5th 2008
Tags: EDGAR, Filing Agents, IDEA, XBRL

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IDEA for Filers

Starting with financial data of Q4 2008, to be filed in Q1 2009, the top 500 public companies by market cap will have to file their documents in XBRL. The other public companies will follow 6-18 months later. Currently three dozen companies, representing more than $1 trillian USD of market ...
November 2nd 2008
Tags: Uncategorized

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IDEA for Investors

MorningStar, Google and Yahoo Finance are expected to offer IDEA filing analysis tools to subscribers that will allow investors to control what and how filed XBRL document data is displayed. Being able to manipulate the display of data is only one of many future benefits of the SEC's migration to ...

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