XBRL US and AICPA to Launch Certificate Program
The AICPA and XBRL have come together to create a certificate program that focuses on the United States Generally Accepted Accounting Principles reporting in XBRL (Extensible Business Reporting Language) format.
Public enterprises at present are expected to utilize the data-tagged XBRL file format at the time of filing of their statements with the SEC. The program which XBRL and AICPA are planning to produce will need students to finish around thirty hours of their online coursework, including understanding XBRL basics as well as the U.S. Generally Accepted Accounting Principles reporting taxonomy and assisting participants in mastering the complexities involved in tagging of detailed footnote.
The program has been crafted for public enterprise accountants, XBRL service providers and consultants’ employees and 3rd party financial accountants who work together with public enterprises. The United States Generally Accepted Accounting Principles reporting XBRL related taxonomy is presently being maintained by the FASB.
The program’s content has been created by the AICPA, FASB and the XBRL US apart from numerous accounting entities and XBRL tool as well as service providers. The students who enroll for the program will be awarded with the certificate by the American Institute of CPAs in an online based format.
The program will be launched in the 1st quarter of 2013. Research carried out by the XBRL US and AICPA members pointed out that the demand in the market for online based training, especially amongst public enterprise prepares has gone up.
Barry Melancon, President and CEO AICPA stated that XBRL has now become a standard format of each and every public enterprise’s reporting procedure. He also mentioned that those who participate in the program designed by AICPA and XBRL US will get the best knowledge in matters pertaining to producing XBRL financial statements consistently.
The program crafted by the AICPA and XBRL US will consist of 8 modules, including understanding of XBRL, designing the Extension related Taxonomy, understanding the United States Generally Accepted Accounting principles Taxonomy as well as building Instance related Document. It will also consist of 2 modules on statements as well as twenty two modules on the individual footnote tagging like tax, business and debt combinations.