XBRL: The Language of Accounting in a Digital World.
When the Securities Exchange Commission (SEC) mandated that public companies file their external reports with XBRL tags, this created much concern for the filers themselves. Due to the new requirements and lack of internal experience in the XBRL process, many organizations continued to rely on their external printers to help them tag their external documents (10K, 10Q). This ‘last mile’ of finance was still an uncharted territory for many public companies; However, over the years, Obero has worked with clients for both Level 1 and detailed Level 4 tagging projects and helped clients realize the benefits of XBRL. XBRL creates a more effective approach to standardizing how business information is described across internal software applications. It drives transparency and improves the efficiency of capital markets by helping analysts and other users of financial and business information find relevant facts.
Using Obero’s expertise and affiliation with software partners, we have helped our clients realize the gains of bringing the XBRL tagging process in house.
- Reduced costs for filings
- Increased internal knowledge base of XBRL expertise
- Reduced risk in late filings
- Reporting flexibility, and more timely delivery of information to management
- Enables company-specific, unique disclosures
Using software from our trusted vendors (IBM Cognos FSR or Tagetik CDM), Obero can help you with:
- Automating the creation of annual/quarterly reports (10K/10Q)
- Creation of your company specific XBRL taxonomy for tagging
- Tagging assistance
- Validation and test filing assistance
- Best Practices in XBRL tagging process
Contact Us to learn how we can help you with your external reporting requirements.