Capricorn Research has worked with all three preleases of the XBRL insurance taxonomies (February 2005, December 2007, and November 2008.) We have validated XBRL links for presentations and for calculations. We have used the SEC quarterly and annual filing data from companies to create XBRL files. These XBRL files are the XML instance file and the extension taxonomy files used for company reporting with the SEC.
Capricorn Research provides guidance from the introduction of using XBRL for financial reporting to the completion of the report and XBRL files. We provide assistance in deciding whether to create the filing in house or outsource the work. The pros and cons are carefully weighed.
Capricorn Research prepares financial pages (income, balance sheet, shareholders’ equity, cash flow and disclosures) for insurance companies using the XBRL US GAAP taxonomy for SEC filings. We work closely with the company’s financial reporting associates to identify taxonomy elements, modify element labels, and create a company’s extension taxonomy.
Gary has contacted universities and colleges to promote XBRL in accounting, finance and information systems courses. He has experience using financial data in academic research. The accounting firms and financial analysts are searching for individuals with XBRL knowledge. One of the sources will be the academic community. XBRL-US has offered membership to academic institutions and faculty if the institution can become involved spreading information about XBRL. Gary’s experience with regulatory reporting and financial use of data recognizes the opportunities for the academic community for research and education.