Cheryl Boggs Savage, C.P.A.
Reliable Professional Solutions

Our Services

XBRL Consulting

The SEC’s XBRL mandate requires both a comprehensive understanding of the SEC's XBRL requirements and that you “map” your financial data with standard elements from a “dictionary” of predefined terms from the “US GAAP Taxonomy”:

The SEC's related rules are complex and there are some 15,000 terms in this “dictionary. “ A software product is required to create the XBRL exhibits, and without an experienced “service-side” consulting partner, taking on XBRL compliance will be quite tedious and time consuming for your team.

Our firm associates have consulted with over 400 companies on XBRL, including almost 200 companies that have already begun filing in XBRL.  Our experience in this industry will make your XBRL compliance seamless and stress-free from the start.

Consultation services are separated in two different tiers for year one and year two compliance. The first year of compliance includes:

  • tagging your financial statements and block tagging your footnotes
  • taxonomy construction
  • test filing
  • support through your first live filing
  • training.
Year two compliance includes everything from the first year, but additionally requires your footnotes to be detail tagged under the following levels:

  • Level I - each note in its entirety
  • Level II - each significant accounting policy in its entirety
  • Level III - each table in its entirety
  • Level IV - each individual value disclosed
To request more information about our XBRL solutions, please click here.

Taxonomy Creation

After consultation, our taxonomy specialists create a custom taxonomy to match your financial statements and disclosures while at the same time using the latest guidance and regulations from:

  • The Securities and Exchange Commission, EDGAR Filer’s Manual, Chapter 6
  • XBRL US GAAP Preparer’s Guide                 
  • American Institute of Certified Public Accountants (AICPA), Statement of Position 09-1

Once complete our taxonomists will closely work with you to maintain the integrity of your documents as we begin to validate your filing. The presentation and calculation of your financials and disclosures under go a rigorous validation check to make sure your filing is built 100% best practice according to these manuals and even exceeds the SEC’s requirements for your interactive data.

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