Newsfile Corp. - XBRL Interactive Data Knowledge Base

XBRLit

On January 1st, 2010, Automated Filing Services Inc. and TNT Filings Inc. merged to form Newsfile Corp. XBRLit - a pre-merger, shared brand between the two companies - has become part of Newsfile Corp. We will continue to provide useful XBRL information here at our knowledge base.

XBRL "Interactive Data"

XBRL (eXtensible Business Reporting Language) also known as “interactive data”, is a reporting format recently mandated by the SEC. After June 15, 2011, all reporting issuers will be required to submit XBRL content with certain forms, including 10-Q, 10-K, 20-F, and 40-F. XBRL is not replacing the HTML or ASCII formats; XBRL data will be submitted alongside HTML/ASCII files as separate exhibits in an EDGAR filing.

Unlike HTML/ASCII, XBRL enables computer programs the ability to easily scan and capture key financial values within a filing for analysis and comparison. The SEC has provided over 10,000 standard codes which filers are expected to use to “tag” or “barcode” every line item within the financial statements of a filing (Balance Sheet, Income Statement, Statement of Cash Flows, Statement of Stockholders Equity) and corresponding note content. XBRL content submitted to EDGAR must also explain how the coded facts should be displayed and calculated.

Newsfile Corp. – a member of XBRL Canada – is available to assist filers and their respective accounting firms with both establishing a process to generate XBRL interactive data and filing XBRL submissions with the EDGAR system.

FAQs Related To

Top XBRL FAQs

Q:	Will my company be required to file in XBRL format and if so, when?

Q:	What documents require an XBRL component?

Q:	What information requires XBRL coding?

Q:	What liability provisions are in place for XBRL interactive data?

Q:	What is involved in preparing XBRL interactive data?

Q:	Where will XBRL interactive data submitted to the EDGAR system appear?

News
Automated Filing Services Inc. and TNT Filings Inc. Merge Posted: February 17th, 2010 On January 1st, 2010, Automated Filing Services Inc. and TNT Filings Inc. merged to form Newsfile Corp. Read the press release for more details.
XBRL Final Rule Posted: January 30th, 2009 The SEC has announced its final XBRL rule. For public companies, interactive data financial reporting will occur on a phased-in schedule beginning in 2009. The largest companies who file using U.S. GAAP with a public float above $5 billion will be required to provide interactive data reports starting with their first quarterly report for fiscal periods ending on or after June 15, 2009.
SEC Announces XBRL Mandate Posted: December 18th, 2008 The Securities and Exchange Commission has voted to require public companies and mutual funds to use interactive data for financial information. The largest companies who file using U.S. GAAP with a public float above $5 billion will be required to provide interactive data reports starting with their first quarterly report for fiscal periods ending on or after June 15, 2009. remaining companies who file using U.S. GAAP will be required to file with interactive data on a phased-in schedule over the next two years. Companies reporting in IFRS issued by the International Accounting Standards Board will be required to provide their interactive data reports starting with fiscal years ending on or after June 15, 2011.
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