Again to common programming with three notable XBRL associated information objects from the previous week.
1 Workiva Inventory – SPAC assault
XBRL service suppliers have seen income improve thanks partially to a scorching IPO and SPAC (particular function acquisition firm) market. In Q2 2021, SPAC exercise declined however the total exercise has nonetheless vastly improve in comparison with 2020.
This piece about XBRL supplier Workiva has popped up in your correspondent’s XBRL radar as a result of it connects the agency’s industrial growth with the current SPAC increase – and the creator has a industrial curiosity.
2 SEC enhances entry to monetary disclosure information
Washington D.C., Aug. 19, 2021 — The Securities and Change Fee at this time introduced open information enhancements that present public entry to monetary statements and different disclosures made by publicly traded firms on its Digital Knowledge Gathering, Evaluation, and Retrieval system (EDGAR). The SEC is releasing for the primary time Utility Programming Interfaces (APIs) that combination monetary assertion information, making company disclosures faster and simpler for builders and third-party companies to make use of. APIs will permit builders to create net or cell apps that immediately serve retail traders.
What was in Beta beforehand shouldn’t be official: EDGAR has its very personal API, albeit not (but?) utilizing the XBRL JSON normal – which will likely be remedied earlier than lengthy, we hope!
3 Knowledge Level Mannequin Methodology turns into ISO normal
Knowledge Level Modelling is a technique which intends to create a bridge between the purposeful design of a reporting framework – “the reporting templates” – and the technical design of an XBRL taxonomy. Over time, this has resulted within the so-called “Eurofiling Taxonomy structure” which is employed within the present taxonomies from EBA and EIOPA. The essence of this system consists of constructing a dimensional information mannequin which is the muse to the schemas and relationships within the Taxonomy.
That is the primary time – to your correspondent’s data – that an XBRL primarily based disclosure mannequin has formally been blessed with an ISO normal. Congratulations to all concerned!
Christian Dreyer CFA is well-known in Swiss Fintech circles as an knowledgeable in XBRL and monetary reporting for traders.
We have now a self-imposed constraint of three information tales every week as a result of we serve busy senior leaders in Fintech who want simply sufficient info to get on with their job.
For context on XBRL please learn this introduction to our XBRL Week in 2016 and skim articles tagged XBRL in our archives.
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