- Why Wdesk
March 4, 2011
The great migration from XBRL “block” to “detailed” tagging is well under way with Year 2 10-Ks arriving in significant numbers at the SEC. We now have enough distance to look back and answer XBRL filing questions with objective experience rather than guesses, especially with regard to Year 2 activities. Even with a superficial comparison of Year 1 to Year 2 filings, such as by browsing through filings on the SEC website, one can quickly see that Year 2 filings are significantly larger, as evidenced by the presentation of many more facts — and more complex, as evidenced by the increased difficulty in reading the “detail-tagged” disclosure notes. This increase in both size and complexity adds risks to satisfying SEC reporting requirements. In this first of a three-part white paper series, we begin to answer the question: Why is Year 2 XBRL compliance so much more difficult than Year 1 compliance?