SEC adopts new Inline XBRL requirements

The SEC voted to adopt a requirement to use Inline XBRL in certain filings.

The amendments to the extensible business reporting language (XBRL) requirements, which will go into effect in phases, require the use of Inline XBRL for operating company financial statement information and mutual fund risk/return summaries. The amendments also eliminate the requirements for companies and funds to post XBRL data on their websites.

Inline XBRL involves embedding XBRL data directly into the filing so that the disclosure document is both humanreadable and machinereadable.

The XBRL requirement for companies will begin to phase in next year, as follows:

Filers will be required to comply beginning with their first Form 10Q filed for a fiscal period ending on or after the applicable compliance date.

In addition, the SEC:

Research & References of SEC adopts new Inline XBRL requirements|A&C Accounting And Tax Services