We have been preparing XBRL filings now for over four years. From the simplest to the most complex we are approaching 500 successful XBRL preparation projects.
We offer three basic services:
a) XBRL Detailed Tagging (aka DFT for Detailed Footnote Tagging)
c) EDGARizing document conversion and filing
XBRL has two phase-in schedules. The first started in 2009 and determined which companies need to comply with the SEC's Final Rule on Interactive Data to Improve Financial Reporting. 2011 was the end of that phase-in. 2012 is now the second year of the two year phase-in for all public companies. We will call 2011-2012 Year One and 2012-2013, Year Two.
With Year One we kept a flat rate pricing structure. True, some companies required more effort and some less. The difference, however, was not very large. It required only Level 1 Summary or Block Tagging. Now Year 2 Detailed tagging requires also:
· Level 2 - accounting policies.
· Level 3 - notes tables: each table in the Financial Notes are captured at this level.
· Level 4 - note details: table tagging and text tagging of narrative facts.
The additional tagging levels require additional time: it simply takes longer to analyze, research, and prepare. For Year 1 it was possible to squeeze in an emergency XBRL Filing at the last minute. In Year 2 that's not so simple. It now takes substantially more time with real accounting expertise be Year 2 XBRL compliant. As such we are building an incentive into our price structure to reward advance planning. Companies that can give us an extra day or two benefit from reduced XBRL prices.