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I recently received an email forwarded by our VP of Sales. In the email, a valuable partner said, “Our customers have asked how we can help them fulfill their XBRL web posting requirement, including providing a human readable view of the XBRL files if desired. We have customers getting ready to live-file their August 10-Qs in XBRL and they’d like to be proactive and have all their ducks in a row and ready for the web posting requirement that will also kick in with their August filings.”
I know why this email was sent to me, and it put a smile on my face. When developing software, you ALWAYS, ALWAYS think that you are designing the features the customers would need and love, but you can’t always get them right. It’s so good to know that you have designed solutions that solve your customers’ problems.
If you are not familiar with the XBRL web posting requirement, here is a quick explanation.
Web Posting Requirement: panies vered by the new rules are required to post the XBRL data on their public webs by the end of the calendar day on which the registration statement or report was filed with the SEC or was required to be so filed (whichever is earlier). panies are required to keep the XBRL data on their public webs for at least 12 months. This posting requirement cannot be satisfied through a hyperlink to the SEC’s web.
In the new Dragon View Spring Release, we have upgraded the “report preview” to use the new XBRL rendering engine that Rivet has created for the SEC’s web in December 2008. We want our customers to have the nfidence of knowing what their filings will look like before they submit to the SEC.
We didn’t s at being able to display a human readable format; we also created an export feature that saves all of the reports and creates an HTML Reporting Book. To fulfill the web posting requirement, a customer needs to post the XBRL data (the mpany extension taxonomy and instance document). At the same time, to provide a friendlier version of the XBRL data, they simply needs to py the HTML Reporting Book to their web. Problem solved. Most customers we talked to understand that they only NEED to post the XBRL files, but a lot of they WANT to also post the human-readable HTML files for their investors.
Here is a sample HTML Reporting Book. I took the reporting book created from Dragon View, and manually added a mpany logo and a chart to demonstrate that filing mpanies can very easily modify the look and feel of the reporting book before posting on their own web. Of urse, customization is mpletely optional.
For filing mpanies, mpliance doesn’t s at providing valid documents to the SEC; it also means meeting the web posting requirements. We are delighted that Dragon View is able to provide added benefits to help our customers fulfill this requirement painlessly. As I said, it’s really good to know that the products we’re designing are able to deliver on the promise we made to ourselves, which is simply to design features customers will need and love.
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