Over the past eighteen months at the Random Comments blog, we have posted a number of articles and comments that we think are relevant to the Group 3, or Year 3 filers - those that must provide XBRL to the SEC for the first time in 2011. Instead of making you search and wade through the other stuff, we thought it was time to publish a quick directory.
The following is a quick directory of articles broadly grouped by topic. Over the time it seems there have been some consistent themes, including the cost and burden of XBRL, the availability (or otherwise) of experts, background type posts and some predictions. We hope this is helpful to anyone faced with their first year of XBRL.
Cost and Burden
2. Is XBRL Expensive? (Costs range from Under $8,000 to over $30,000).
3. Why is XBRL so Expensive (Cost Factors) Mainly people time and software, and the interaction of the two.
5. More on estimated costs How the SEC estimated the cost of XBRL com(January 2010)
7. Detailed tagging, just how big is the burden? Answer: Ouch!
8. Detailed Tagging explained: a descent through Dante's inferno Or, the first 4 levels of Hell?
Availability of Experts
9. Over 10,000 companies to create XBRL this year - expertise will be in short supply
11. Cost of (voluntary) assurance over XBRL today
Options for filers
12. As published in IRWeb Report - the 2011 XBRL Buyers Guide
13. Should you replace your entire external reporting framework to produce XBRL?
14. 5 Questions filers should ask any prospective service provider or software vendor.
15. Outline of first time filer options.
16. Why did the SEC mandate XBRL? Remember SOX?
17. Observations about recent filings (March 2011)
18. XBRL and the audit and assurance industry How some auditors are using XBRL as a marketing tool.
20. Prediction time (detailed tagging)
21. Assurance anyone? It will happen, but first the auditors need to figure out how to.
23. Neal Hannon:XBRL Conventional Wisdom Might be Wrong