XBRL



The SEC proposed rule amendments to expand the agency’s interactive data voluntary filing program to enable mutual funds to submit XBRL-tagged risk and return summary information. The risk and return summary at the front of every mutual fund prospectus includes information about a fund’s investment objectives and strategies, risks, costs and historical performance.

The submission of tagged risk and return summary information would be supplemental and would not replace required official versions of information. Any mutual fund submitting tagged risk and return summary information would be required to include this information as an amendment to a filing on form N-1A, the registration form for mutual funds. The proposal would permit mutual funds to use a taxonomy (a set of standard tags and definitions) being developed by the Investment Company Institute. The taxonomy is available at http://members.ici.org/xbrl . For more information on the SEC voluntary filing program, visit www.sec.gov/spotlight/xbrl.htm.

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

News quiz: Taking an economic snapshot and looking to the future

Recent news included IRS actions that affect individuals and partnerships and a possibly influential move by a Big Four accounting firm.Take this short quiz to see how much you know about the news.