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Attention Compliance Team: New SEC EDGAR Upgrade Important note for Q3 filers

The current version upgrade of 17.2, the EDGAR systems will support only two recent versions of the GAAP taxonomy – i.e. 2017 US GAAP and 2016 US GAAP taxonomy. Apart from this, the EDGAR systems no longer support some of the supporting taxonomies such as 2013 COUNTRY taxonomy, 2014 CURRENCY taxonomy and the 2015 EXCH taxonomy.

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South Africa to mandate Inline XBRL from July 1, 2018

South Africa has recently announced that all companies that currently submit their Annual Financial Statements (AFS) need to report their financial information in iXBRL (Inline XBRL).

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US GAAP 2018 Taxonomy is out for public comments

The SEC strongly believes that inline XBRL submissions will improve the data quality and over time, decrease cost of preparation of data. This will also decrease compliance requirement of dual filing of EDGAR HTML and XBRL documents since inline XBRL combines both XBRL and HTML into one single viewable document.

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Why Inline XBRL Filing has got More Popular in the Past Year

SEC this march proposed the use of inline XBRLformat for SEC submissions which was introduced voluntarily last year.The number of companies that have adopted Inline XBRL has quadrupled in a year. This clearly shows inline XBRL is easing out the lives of the preparers.

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From a Tactical CFO to a Strategic Business Leader

How to transform from a Tactical CFO to a Strategic Business Leader? The answer lies in the use of technology. Read here to know how adoption of these technologies can free up slices of time before you know it.

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10 Facts You Need to Know about Supply in GST

Invoicing in GST will be a function of place of supply. With barely a week to go for the GST being introduced, we have pulled together 10 facts about ‘Supply’ in GST which will decide your invoicing and ultimately taxation.

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The Great Indian ‘Pricing’ Trick in GST!

The Press Releases introduced by CBEC since May 22nd will influence the product 'pricing' in GST regime. While these appear to be simplified, they are likely to have broader ramifications from a business perspective. Read to find how your product pricing will be impacted due to the same.

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Three Key Factors to Optimize your Supply Chain in GST Regime

With GST, supply chain for manufacturers will get rationalized to leverage efficiencies of scale and optimize location etc. This will involve major changes around sourcing, warehousing and distribution. Read to know more.

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A 3 Step Plan for Companies to Comply with Anti-Profiteering Provisions of GST

The anti-profiteering clause of the CGST Act mandates manufacturers and others in the supply chain to pass the benefits of transition to GST, to the consumers. Read our 3 step plan to prepare your organization for this.

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U. S. SEC Accepts IFRS Taxonomy: 3 Points You Need to Know as a U.S. Foreign Filer

On March 1, 2017 the U.S. SEC accepted the IFRS taxonomy for XBRL filing. All U.S. foreign filers following IFRS and filing 20-F/ 40-F with the SEC in Edgar format will now also need to file in XBRL. Are You Ready?

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Do Telecom Companies have the Bandwidth for GST?

With the internet of things becoming more common and data charges reducing considerably telecom companies are constantly focused on customer retention by offering free promotional offers and value added services. Will the introduction of the Goods and Services Tax impact this sector and are companies ready for this change?

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GST Bills tabled in Lok Sabha: 10 Differences between the Bills and the Model Draft GST Law

The Lok Sabha will be discussing four GST bills i.e. CGST, UTGST , IGST and Compensation today. Read key changes between what was proposed as the Model Draft GST Law and the Bills that were tabled.