Back to regular programming with three notable XBRL related news items from the past week.
1 Workiva Stock – SPAC attack
XBRL service providers have seen revenue increase thanks in part to a hot IPO and SPAC (special purpose acquisition company) market. In Q2 2021, SPAC activity declined but the overall activity has still greatly increase compared to 2020.
This piece about XBRL provider Workiva has popped up on your correspondent’s XBRL radar because it connects the firm’s commercial expansion with the recent SPAC boom – and the author has a commercial interest.
2 SEC enhances access to financial disclosure data
Washington D.C., Aug. 19, 2021 — The Securities and Exchange Commission today announced open data enhancements that provide public access to financial statements and other disclosures made by publicly traded companies on its Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The SEC is releasing for the first time Application Programming Interfaces (APIs) that aggregate financial statement data, making corporate disclosures quicker and easier for developers and third-party services to use. APIs will allow developers to create web or mobile apps that directly serve retail investors.
What was in Beta previously is not official: EDGAR has its very own API, albeit not (yet?) using the XBRL JSON standard – which will be remedied before long, we hope!
3 Data Point Model Methodology becomes ISO standard
Data Point Modelling is a methodology which intends to create a bridge between the functional design of a reporting framework – “the reporting templates” – and the technical design of an XBRL taxonomy. Over the years, this has resulted in the so-called “Eurofiling Taxonomy architecture” which is employed in the current taxonomies from EBA and EIOPA. The essence of this methodology consists of building a dimensional data model which is the foundation to the schemas and relationships in the Taxonomy.
This is the first time – to your correspondent’s knowledge – that an XBRL based disclosure model has officially been blessed with an ISO standard. Congratulations to all involved!
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Christian Dreyer CFA is well known in Swiss Fintech circles as an expert in XBRL and financial reporting for investors.
We have a self-imposed constraint of 3 news stories each week because we serve busy senior leaders in Fintech who need just enough information to get on with their job.
For context on XBRL please read this introduction to our XBRL Week in 2016 and read articles tagged XBRL in our archives.
New readers can read 3 free articles. To become a member with full access to all that Daily Fintech offers, the cost is just USD 143 a year (= USD 0.39 per day or USD 2.75 per week). For less than one cup of coffee you get a week full of caffeine for the mind.
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Again to common programming with three notable XBRL associated information gadgets from the previous week.
1 Workiva Inventory – SPAC assault
XBRL service suppliers have seen income enhance thanks partially to a sizzling IPO and SPAC (particular function acquisition firm) market. In Q2 2021, SPAC exercise declined however the general exercise has nonetheless drastically enhance 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 writer has a industrial curiosity.
2 SEC enhances entry to monetary disclosure knowledge
Washington D.C., Aug. 19, 2021 — The Securities and Alternate Fee right now introduced open knowledge enhancements that present public entry to monetary statements and different disclosures made by publicly traded corporations on its Digital Information Gathering, Evaluation, and Retrieval system (EDGAR). The SEC is releasing for the primary time Utility Programming Interfaces (APIs) that mixture monetary assertion knowledge, making company disclosures faster and simpler for builders and third-party providers to make use of. APIs will permit builders to create internet or cell apps that instantly serve retail traders.
What was in Beta beforehand just isn’t 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 Information Level Mannequin Methodology turns into ISO normal
Information Level Modelling is a technique which intends to create a bridge between the practical 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 knowledge mannequin which is the inspiration to the schemas and relationships within the Taxonomy.
That is the primary time – to your correspondent’s information – 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 professional 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 data 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.
New readers can learn 3 free articles. To grow to be a member with full entry to all that Day by day Fintech presents, the price is simply USD 143 a yr (= USD 0.39 per day or USD 2.75 per week). For lower than one cup of espresso you get every week stuffed with caffeine for the thoughts.
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