xbrl 408826

ACCT 614 XBRL Study Module and Homework This is a self paced study module with a graded homework assignment due in your assignment folder no later than the date shown in the related Conference and Course Schedule. In each section, I offer lecture notes on aspects of XBRL that take you to vetted XBRL resources that offer review of the concepts covered in the lecture. During this activity, remember, we do not have to learn a lot of XBRL code. What we have to learn is 1) the terminology, 2) how to read some code (similar to reading html code from an Internet doc), 3) how to select appropriate code from an XBRL taxonomy, and 4) how to check code in financial statements. At the end of module are several homework problems that you will submit for grading. Background on XBRL eXtensible Business Reporting Language (XBRL) is a language for the electronic communication of business and financial data and has been implemented by International Financial Reporting Standards (IFRS), the United States Generally Accepted Accounting Principles (U.S. GAAP), and many other national and international accounting standards bodies. In the United States, the Securities and Exchange Commission (SEC) requires public companies to file their financial statements in XBRL. The following article from Accounting Web provides a good summary to date of the path to XBRL compliance and the SEC’s filing requirements: ? HYPERLINK “http://www.accountingweb.com/topic/accounting auditing/public companies must submit xbrl exhibits sec 2011” ?Public companies must submit XBRL exhibits to SEC in 2011?. Essentially, we are now in “Phase 3”, details of which are available by visiting: ? HYPERLINK “http://www.sec.gov/spotlight/xbrl/xbrlsummaryinfophase3 051011.shtml” ?Summary of XBRL for Phase 3?. The FASB reports that This [XBRL] standard is maintained by XBRL International, an international non profit consortium of approximately 450 major companies, organizations, and government agencies…