XBRL Tagging Services
Sterling Issuer Services provides its clients with an extremely competitive XBRL Tagging solution that allows them to submit their filings to the SEC in a timely and cost effective manner.
The Securities and Exchange Commission requires public companies of all sizes to submit their financial statements in XBRL format, resulting in a higher level of quality in the information provided to investors, shareholders, analysts and the financial community. XBRL (Extensible Business Reporting Language) provides a common way for various systems to exchange specific financial information and provides a means to separate data from formatting. In addition, XBRL is a helpful tool that simplifies the process of data collection for external and internal reporting purposes.
The idea behind tagging financial information using XBRL is to translate certain items relevant to the company such as currency, calendar year, reporting period and more in order to provide full transparency and disclosure of financial statistics. XBRL must conform to the underlying accounting rules and reporting formats of the specific companies and industries creating the XBRL instance document(s). XBRL helps show where differences are and allows analysts and investors to spend more time focused on extracting real meaning from the information. However, the process of document conversion into XBRL requires an extensive amount of time, labor-force and training in order to fulfill the required guidelines from the Securities and Exchange Commission. With Sterling Issuer Services you will be provided a single-point solution for all your XBRL requirements and SEC-related-filings.
Benefits of XBRL
- Financial Transparency – Detailed XBRL data information protects capital markets so there is transparency in business and financial reporting. The result is improved financial reporting to investors and analysts. Financial data becomes easily searched, downloaded and analyzed by the public.
- Single Source of Data – XBRL data is quickly becoming the single source of data for third-party investment sites. It improves the flow of your business and financial information to the investing community.
- Streamlined Financial Reporting – Leveraging XBRL, companies gain control of their own internal reporting processes to streamline the reporting process to the SEC.
Sterling Issuer Services offers competitive rates and service plans for its clients. We offer flat annual fee filing plans as well as extremely competitive rates on a per filing basis. Please feel free to contact our offices to obtain a quote for your firm’s filing needs.