Part 1: How Rivet’s Dragon View can help companies review their XBRL filings before submission
Dragon View is a friendly XBRL reviewing tool that can be used before submitting to the SEC or other filing agencies. Even though Dragon View has been on the market for a few years now, with the rapid adoption of XBRL in many countries and the recent SEC mandate, we have taken another critical look and redesigned the application so it’s better suited for preparers who need to review XBRL filings for accuracy and presentation quality.
In order to give you in-depth descriptions of the specific features we created in Dragon View Spring Release, I have written a three-part blog that reveals the ideas behind the design and explains what problems we intend to solve with this new release.
- Part 1: How Rivet’s Dragon View can help companies review their XBRL filings before submission
- Part 2: How Rivet’s Dragon View can help companies benchmark against other SEC filers
- Part 3: How Rivet’s Dragon View can help companies fulfill the website posting requirement
Now, let’s focus on the features that can help companies review their XBRL filings before submission in Dragon View Spring Release:
| Feature | Benefit |
|---|---|
| One-click to view the most recent SEC filings | We provide the link so you do not need to search for the SEC filings on their website. You can open and view both the instance documents and company extension taxonomies. We update the available filings near real-time (every 30 minutes). A preparer might be interested in having the ability to view their own filings as soon as they are filed or to review and compare to filings from other companies. |
| Tabbed interface to view data as it will be presented using the SEC Interactive Data viewer and review detailed markups | It is now even easier to switch between the report preview and the markup review since they are within the same product. You can easily see the details for each line in the report preview, or you can review the markups for each element all inside of the friendly viewer. You can also view the data as the SEC will in their Interactive Data viewer and review markup reports to see details about reporting elements including authoritative references. |
| Review extended elements using filtering and sorting | In the past, you may have wanted to sort a column to prioritize your work. You can now click on the SEC % column (which shows how many other companies used this tag) and instantly see which items have the lowest percentage of use in order to ensure that this element is the one you intended to choose. Or, you could focus your review efforts on by filtering the report and only reviewing the extended elements used within the filing. |
| Review element name and definition | Review the element name and definition to ensure that the selected element is the best match for the row of your printed financials. |
| Use Dragon View to review files before they are sent to the SEC | Ability to review the formatting of the report as it will appear in the SEC Interactive viewer before filing with the SEC. Verify formatting including report headers, rounding options, currency symbols, and single underscores for the total rows. |
| Provide multiple drill paths to get a clear picture of the filing | Depending upon what information you want, you can now click on an element to see additional details. You can select the markup review and see the SEC% and SIC% for that element or select the data grids to view calculation hierarchy information, etc. |
For filing companies, compliance doesn’t stop at providing valid filings to the SEC; it also means understanding exactly what information has been included in the XBRL filing and how that financial information will be presented to the public. We are excited that Dragon View is able to provide added benefits to help our customers fulfill this requirement with flexible reviewing capability.
You can find detailed descriptions of Dragon View on our website: Dragon View Features and Benefits.
If you would like to see a recorded demo, you can download the Free Dragon View Online Demo.
Tags: Compliance, Customer, Dragon View
