The advancement of eXtensive Business Reporting Language (“XBRL”) technology along with the three-wave SEC mandate for submitting financial information as interactive data has created a tsunami for external reporting professionals at public companies.  The first year interactive data SEC filing requirement has been commonly referred to as block tagging. This means that in addition to tagging the body of the financial statements the individual footnotes are each block tagged with an appropriate element from the company’s chosen XBRL taxonomy.  The second year interactive data SEC filing requirement includes all the first year requirements, but then requires the additional three-levels of detail tagging for the financial statement footnotes. Read the rest of this entry »