Public companies are required by federal law to disclose information on an ongoing basis.
This includes reporting quarterly (form 10-Q), annually (form 10-K), and for specified events that shareholders should know about (form 8-K). The reporting process can be tedious, and depending on the size of the company, due dates vary.
Hyperlinking exhibits, which allows the SEC to find and analyze data much easier, is mandated for all filings. Data tagging using eXtensible Business Reporting Language (XBRL) is a standard-based way to communicate the information. Inline XRBL (iXBRL), which combines the machine readable XRBL instance document and the human-readable EDGAR HTML document into one document, is in a voluntary filing period through March 2020, after which it will most likely be mandated. CFO Systems is not waiting for the next mandate; we already file our client’s 10-Qs and 10-Ks utilizing iXBRL.
CFO Systems is experienced in using several software platforms. We can accurately and expeditiously manage your filing process from beginning to end or we can just perform the XBRL tagging. In addition, we can reduce your XRBL tagging and filing costs if you currently use an outside firm (i.e. publisher). CFO Systems modifies the XBRL document as many times as you need at no extra cost from our normal flat fee. And, we work with you until you file with the SEC or we can file for you.