XBRL News: IFRS webcast, Muscat and nowcasting

Here is our pick of the 3 most important XBRL news stories this slow summertime week.

1 New webcast on IFRS 2020 taxonomy published 

In this webcast, Ann Tarca, a member of the International Accounting Standards Board (Board), and Vivek Baid, a member of the technical staff, provide a short introduction to the IFRS Taxonomy 2020 and highlight the key changes from the IFRS Taxonomy 2019.

A quick and efficient way to catch up both with the technical changes in the IFRS taxonomy as well as (implicitly) with changes in IFRS.

2 Muscat to launch XBRL disclosure platform

Capital Market Authority (CMA), in cooperation with Muscat Security Market (MSM), has commissioned a project for implementing the XBRL disclosure platform for the reporting of financial and non-financial information by all issuers listed on MSM and other companies operating under any license from the CMA. 

The world as captured by XBRL goes well beyond EU ESEF and US EDGAR …

3 ECB working paper: Nowcasting with large Bayesian autoregressions

Monitoring economic conditions in real time, or nowcasting, is among the key tasks routinely performed by economists. Nowcasting entails some key challenges, which also characterise modern Big Data analytics, often referred to as the three “Vs”: Volume, Variety, Velocity. 

 

The near real-time availability of voluminous, varied and velocious data as supplied in structured or unstructured formats is an important pre-requisite for nowcasting. This new ECB working paper demonstrates how it can be done.

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Christian Dreyer CFA is well known in Swiss Fintech circles as an expert in XBRL and financial reporting for investors.

 We have a self-imposed constraint of 3 news stories each week because we serve busy senior leaders in Fintech who need just enough information to get on with their job.

 For context on XBRL please read this introduction to our XBRL Week in 2016 and read articles tagged XBRL in our archives. 

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