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Critical Questions to Ask When Choosing an XBRL Provider: Part One – SupportNovember 2nd, 2010 by Barclay Friesen - COO
Today’s publicly-traded companies have more choices than ever when it comes to selecting an XBRL provider. For better or worse, new financial reporting companies seem to be setting up shop on a daily basis. A Google search for “XBRL software” churns out nearly 350,000 results. So, how do you filter through this clutter and noise to find an XBRL provider that will meet your needs? Read the rest of this entry » What is the XBRL Cloud Report?March 3rd, 2010 by Charlie Hymer, CPA - Regional Sales Director
The Cloud Report is a validation tool created by a third party to assist with the XBRL filing process. In fact, some printers use this tool as their validation tool for their XBRL clients. Rivet currently uses its own proprietary tool to perform this function and does not rely on a third party for its validation. In addition, Rivet’s validation rules are based on official SEC guidelines, as are documented in the EDGAR manual. We work very closely with the SEC to ensure our interpretation of the SEC guidelines adhere to the EDGAR manual appropriately. Read the rest of this entry » Fear Factor: Detail Tagging EditionFebruary 18th, 2010 by Charlie Hymer, CPA - Regional Sales Director
The cloud of fear surrounding the next phase of the XBRL Mandate, Detail Tagging, has been growing darker as vendors release the numbers on just how many tags are going to be required to be compliant. The truth is, some companies’ notes have a whole lot of numbers (sometimes in the thousands) that are going to need tags when the time comes. Because of the breadth and intricacy of such an undertaking, it’s important to make sure that your provider has a grasp on what they’re doing. At the end of the day, the printer doesn’t sign off on your financials, you do. Read the rest of this entry » Getting ready for the SEC Mandate on XBRL for Mutual FundsDecember 22nd, 2009 by Emily Huang - Co‑founder & SVP, Sales & Marketing
SEC Final RulingA few known facts from the final ruling for the Interactive Data for Mutual Fund Risk/Return Summary that you might be interested to know: Read the rest of this entry » Rivet customers recognizing the benefits of XBRL for analyzing data takes only secondsDecember 21st, 2009 by Kevin Berens - CPO
At a time when most companies are seeking out software vendors to assist them with their XBRL tagging, our customers are seeing not only how Rivet can help them with this process, but also the huge benefit that can be recognized with XBRL. In fact, it is so easy to create these reports, that during our demos, we are turning the controls over to our customers and letting them create these reports. Read the rest of this entry » Creating XBRL reports, so easy a customer can do it (in a demo)December 21st, 2009 by Kevin Berens - CPO
Creating a report that compares your company to every company in your SIC code used to be so difficult. You needed to determine the companies in your SIC code. You needed to find the data for each company and download this into an Excel spreadsheet. You needed to then create a bunch of formulas to consolidate this data on a single sheet. And then next quarter you need to do this all over again. Read the rest of this entry » XBRL & Crossfire make me want to get an MBA in AccountingOctober 6th, 2009 by Natalya Kuskin - Senior Account Executive
During a call with a potential client last week, I mentioned that Rivet’s Crossfire Financial Reporting Platform makes numbers so exciting that I want to go back to school for an MBA in Accounting. He laughed and revealed that nowadays, being an accountant is less about numbers or analysis and more about rules and mandates that govern how a number is presented. Managing Risk Using XBRLSeptember 22nd, 2009 by Brian Larson, CPA - Software Quality Engineer
XBRL is gaining momentum as reporting agencies require their constituents to report using the standard. But how about using it within an organization? I used to work in the internal audit department of a major software company and I’ve been thinking about how XBRL can help in that realm. A good internal audit department audits based on risk. A risky area, say derivatives trading, deserves a lot more attention from internal audit as opposed to a non-risky area, like marketing. Read the rest of this entry » Impact AnalysisAugust 30th, 2009 by Stewart McKie - Executive Advisor
It’s easy to forget that not everyone is completely focused on monetary gain when they invest in a business – an increasing number of individual and institutional “philanthropic” investors also care about the social returns generated by a business. Read the rest of this entry » XBRL: Some Future DirectionsAugust 30th, 2009 by Stewart McKie - Executive Advisor
The recent XBRL US Pacific Rim Technology Workshop in Santa Clara, CA resulted in some interesting key findings that are worth commenting on while we wait for the official discussion paper to be published. Read the rest of this entry » |
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