SEC Extends Qualifications for SRC’s and Scaled Disclosures

By | 07/20/2018 | 7:57 pm ET

The Securities and Exchange Commission (SEC) expanded the number of companies that qualify as a “smaller reporting company”(SRC) and the existing scaled disclosure accommodations for these SRC’s. The SEC estimates that approximately 1000 companies will now qualify for the scaled disclosures. Scaled disclosures enable companies to provide less information, specifically for executive compensation and only submit audited financial statements for two fiscal years, compared to the three fiscal years which…

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SEC Passes Inline XBRL

By | 07/20/2018 | 7:52 pm ET

In a 4-1 vote on June 28, 2018, the Securities and Exchange Commission (SEC) voted to adopt several amendments to the existing XBRL reporting requirements.Instead of the existing requirements which mandate that companies submit XBRL exhibits along with their HTML filings for quarterly and annual financial statements, companies can now submit Inline XBRL filings. Instead of a dual filing system with both human and machine-readable filings, companies are now able…

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Finding an SEC Filing Agent for XBRL Filings

By | 03/15/2018 | 4:29 pm ET

When looking for the best SEC filing agent to handle your SEC filing needs, most filers seek a company that offers not only competitive pricing, but also professional quality services. Although competitive SEC filing fees should be expected, professional quality output, reliability, accuracy, and good customer service should be more important for you and your company.  Here at Colonial Filings, we offer a variety of financial printing services that are…

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Benefits of XBRL Reporting to the SEC

By | 10/18/2017 | 9:49 pm ET

XBRL is an electronic language for financial reporting that is freely licensable, and based on XML framework. It acts as the standard in the financial circles for preparing, publishing in various formats, extracting and automatically exchanging financial statements of publicly-held companies and the information contained in them. XBRL filing requirements enhance the usability of the current accounting standards through digitizing business languages without creating new accounting standards and do not…

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Colonial Filings Releases Investor Website Hosting Services

By | 08/15/2017 | 4:43 pm ET

Colonial Filings, Inc. is excited to announce the release of our investor website hosting services, allowing clients to take advantage of integrated SEC filing data hosting, stock charting, and news applications for their corporate investor websites. As an industry leading, financial printer and SEC filing agent, Colonial Filings prides itself on being able to provide its clients with financial printing and any related services that they may need. In that…

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4 Important Facts Concerning iXBRL

By | 06/13/2017 | 7:15 pm ET

After much speculation, the Securities and Exchange Commission (SEC) has released the long-awaited proposal requiring public companies based in the United States to utilize Inline XBRL (iXBRL) when submitting their financial statements and other public documents. So what do you need to know about this proposal? 1. How iXBRL works:  Inline XBRL is an updated version of the XBRL reporting format. This new format embeds HTML tags into different financial…

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2 Things to Know About EDGAR Passphrase Updates

By | 03/16/2017 | 6:40 pm ET

On March 13 2017, the SEC changed the method for updating EDGAR passphrases on its Filer Management website by implementing a dual stage authentication process for SEC filers who request their passphrase to be reset. This is a security update to the original requirements, which was implemented in 2004, as a safety measure to protect account holders password and identity information. As this is an important update that requires account…

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SEC Observations of XBRL Segment Tags

By | 01/14/2017 | 11:16 pm ET

The staff in the SEC Division of Economic and Risk Analysis is required to assess any aspects of XBRL that could potentially affect data quality. Recently, the SEC staff specifically examined XBRL custom axis tags, also known as segment tags, submitted in annual reports associated with the Form 10-K. Axis tags are utilized in XBRL by allowing filers to differentiate between reported elements through the use of dimensions. These dimensions…

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Hiring an EDGAR Filing Agent

By | 01/13/2017 | 10:23 pm ET

The Securities and Exchange Commission mandates that a company file several forms providing basic information regarding a company before attempting to sell or offer securities.  Companies may also be required to submit quarterly and annual reports, as well as corporate updates and notification of new offerings, etc.  These "EDGAR" forms reflect how a company operates and why it is essential that every form that is filed is professional as possible. …

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Importance and Benefits of GAAP Taxonomy

By | 02/13/2016 | 10:10 pm ET

The GAAP (Generally Accepted Accounting Principles) taxonomy yearly update was recently released, and the SEC is strongly promoting the usage of this recent release. The taxonomy is essentially a combination of both financial and business reporting terms, that has been generally agreed upon. The Taxonomy combined with the required reporting creates XBRL data. The 2016 update like its predecessors is still focused on stability, however the main focus shifted to…

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