What is XBRL Taxonomy?
The 2016 US GAAP Taxonomy was developed by the Financial Accounting Financial Board (FASB) and has been accepted and supported by the SEC. It can be downloaded in its entirety from the link below, along with other resources for implementation and use.
Does use of XBRL Taxonomy insure reporting as per regulatory requirement?
The taxonomy is not an accounting guide or disclosure checklist, nor does using the taxonomy as the basis for preparation of a financial statement provide any assurance that the financial statements comply with US GAAP or IFRS requirement or meet all of the reporting requirements set forth by regulators.
What is iXBRL?
The United States Securities and Exchange Commission proposes to make the use Inline XBRL format mandatory for operating company’s financial statements, mutual fund risk/return summaries.
Volition LLP assists companies with compliance disclosures, under various regulations. We are a leading F&A outsourcing services providers. Please speak to us or write to us, in case you are looking for a solution which is not mentioned on our web page. We would love to offer a customised solution only for you.