2013 Taxonomy Tips You Can Actually Use

July 17, 2013
The 2013 US GAAP Taxonomy is now available on Wdesk and on our complimentary Taxonomy Analyzer. We are pleased to offer this as a resource to the financial reporting community. WebFilings own XBRL expert, Chris McGuire, explains a few of the highlights of the new taxonomy in this technical report, “2013 Taxonomy: What You Need to Know.” On May 20, 2013, the SEC approved the 2013 US GAAP Financial Reporting Taxonomy which is maintained and updated by the FASB. Chris says, “There are a large number of changes to the 2013 Taxonomy.” Ten are featured and explained in his report. The SEC strongly encourages that filers migrate to the newly released taxonomy. Please be aware that with the adoption of the 2013 Taxonomy, the 2011 Taxonomy will no longer be accepted by the SEC. It is up to you to make sure that your XBRL filing adapts to the change and that you continue to communicate accurately with investors and regulators. Are you ready to migrate? The staff at WebFilings will make it is as painless as possible. With the help of Wdesk and our world-class customer service we have the industry-leading expertise to put you at ease. Click here for more information about how the Professional Services team can help.
Mike Sellberg

About the author

Mike Sellberg is Executive Vice President and Chief Product Officer at Workiva. He is the former EVP and CTO at iMed Studios and the former Divisional General Manager at Engineering Animation, Inc.