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XBRL US GAAP Taxonomy Preparers Guide Notice Authorized Uses Are Set Forth on the First Page of this Document/File. Preparers should understand that Meeting reporting requirements remains the registrant s responsibility. The taxonomies should not be considered authoritative. 3. 1. 1 XBRL US GAAP Taxonomies v1. 0 This guide focuses on the XBRL US GAAP Taxonomy the main taxonomy that will be used for financial statement filings in the United States...

How to fill out xbrl us gaap taxonomy

How to fill out XBRL US GAAP taxonomy?

1. Familiarize yourself with the XBRL US GAAP taxonomy structure. Understand the hierarchy of elements, concepts, and relationships included in the taxonomy.
2. Review the XBRL US GAAP taxonomy documentation to understand the specific requirements and guidelines for each element.
3. Identify the financial statements or reports you need to prepare in XBRL format using the US GAAP taxonomy. Determine the required elements and concepts for each report.
4. Use an XBRL authoring tool or software that supports the US GAAP taxonomy. This will simplify the process of tagging financial data to the appropriate elements and concepts in the taxonomy.
5. Carefully review and validate the XBRL tags applied to each piece of financial data. Ensure that the tags accurately represent the intended meaning and are consistent with the US GAAP taxonomy.
6. Validate the final XBRL instance document using appropriate validation tools to ensure it conforms to the XBRL specifications and rules.
7. Once the XBRL instance document is complete and validated, distribute it to the relevant stakeholders, such as regulatory bodies, investors, or other reporting entities.

Who needs XBRL US GAAP taxonomy?

1. Publicly traded companies: Companies listed on stock exchanges are often required to file financial statements in XBRL format using the US GAAP taxonomy. Compliance with XBRL reporting standards is crucial for them.
2. Regulatory agencies: Government bodies responsible for financial regulation and oversight often require companies to submit XBRL filings based on the US GAAP taxonomy. This enables easier analysis and comparison of financial data across different entities.
3. Financial analysts and investors: The availability of financial data in XBRL format using the US GAAP taxonomy allows analysts and investors to easily access, analyze, and compare the performance of different companies. This improves transparency and decision-making in the financial markets.
4. Software vendors and service providers: Companies that develop XBRL authoring tools, validation tools, or provide XBRL-related services can benefit from understanding and supporting the US GAAP taxonomy. This helps them cater to the needs of their clients who require XBRL compliance.

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What is xbrl us gaap taxonomy?

The XBRL US GAAP Taxonomy is a computer-readable dictionary of financial report elements created by the Financial Accounting Standards Board (FASB) that allows for standardized tagging of financial data.

Who is required to file xbrl us gaap taxonomy?

Public companies that are registered with the U.S. Securities and Exchange Commission (SEC) are required to file XBRL US GAAP Taxonomy with their financial reports.

How to fill out xbrl us gaap taxonomy?

To fill out XBRL US GAAP Taxonomy, companies need to tag their financial data with the appropriate elements defined in the taxonomy using XBRL software.

What is the purpose of xbrl us gaap taxonomy?

The purpose of XBRL US GAAP Taxonomy is to improve the accuracy and reliability of financial reporting by standardizing the way financial data is tagged and reported.

What information must be reported on xbrl us gaap taxonomy?

Companies must report their financial statements, footnotes, and other financial information using XBRL tags as defined in the XBRL US GAAP Taxonomy.