XBRL (eXtensible Business Reporting Language)
XBRL related offerings include: required services for initial setup of your XBRL program and ongoing quality assurance services for each submission.
On-Going Services:
For each reporting period or submission, once financial reporting staff has identified portions that have changed then those new areas must be tagged (mapped to the US GAAP or IFRS taxonomy). Our Change Control service for XBRL is similar to our other SEC pre-filing reviews in that we provide independent assessment of whether correct procedures were followed (i.e. testing) and provide our judgment on whether the changed areas were correctly tagged. This service also includes a review by a low-cost administrator for grammatical and XBRL syntax errors and a review by an experienced SEC filing professional for compliance and appropriateness. This service is available on an annual fixed price basis or on-demand.
Initial Setup Services:
Preparing to send in your first XBRL file is a challenge! There are numerous steps to take and our service team leads the project and helps with the hands-on detailed tagging and system configuration. Candela Solutions LLC provides an in-house training class to launch the effort.
Scope includes:
- Mapping your financial statements to the taxonomies
- Tagging of footnotes, both Level 1 and complex levels 2-4
- Establishing the document production cycle
- Designing a quality assurance process that is integrated in with other disclosure activities
- Deciding whether to outsource production
- Handling of unconsolidated subsidiaries and supplemental schedules
- Incorporating non-GAAP content while using the GAAP taxonomy
- Determining when calculation extensions are appropriate and creating them
- Setting up the procedure to submit documents and publish on web site
- Overall Project Management
