Before You Begin Using Disclosure Management

Integrating Disclosure Management with your financial reporting system to produce XBRL instance documents requires planning and organization. To determine the necessary steps after you have installed Disclosure Management, consider the following:

  • Taxonomy Assessment—Assess which taxonomy is most appropriate for your XBRL filing requirements.

  • Training—Implement a plan to train key personnel on XBRL filing requirements, taxonomy concepts, and how to use Disclosure Management.

  • XBRL Project Team—Assemble a team who can perform these functions:

    • Manage the XBRL project

    • Provide expertise in regional regulatory rules and the organization's reporting requirements

    • Demonstrate expertise in XBRL

  • Mapping—Identify the personnel who are tasked to map your financial statements.

  • Data Collection—Determine a process to consolidate and produce the financial data that is persisted to the XBRL instance documents.

  • Review—Implement a process for reviewing and validating instance documents. The instance document should adhere to additional submission requirements that the regulatory body imposes on XBRL submissions. Disclosure Management provides the validation to ensure XBRL validity (per the XBRL specification), and enforces some regulatory rules and submission criteria. However, additional submission criteria may be required by a regulatory agency.