RECENT POSTS
Tuesday, June 11, 2019
Not Much Fizz in LaCroix Right Now

Wednesday, May 29, 2019
An Example of Calcbench, Excel, and Insight

Monday, May 20, 2019
Research Paper: Capex Spending

Thursday, May 16, 2019
Psst: Got Any Weed?

Wednesday, May 15, 2019
Open Letter: SEC Proposed Rule for BDCs

Friday, May 10, 2019
General Motors and Workhorse

Monday, May 6, 2019
How to Find Earnings Release Data

Tuesday, April 23, 2019
Following Restructuring Costs Over Time

Monday, April 22, 2019
Capex Spending: More Than You Might Think

Saturday, April 13, 2019
When AWS Takes Over the World

Thursday, April 11, 2019
Data Trends in Focus: Restructuring Costs

Sunday, April 7, 2019
How One Customer Crushed It With Calcbench

Thursday, April 4, 2019
TJX Shows Complexity of Leasing Costs Reporting

Tuesday, April 2, 2019
CEO Pay Ratios: Some 2018 Thoughts

Wednesday, March 27, 2019
Corporate Spending: Where It Goes, 2017 vs. 2018

Monday, March 25, 2019
Health Insurers: A Bit Winded?

Friday, March 22, 2019
Our New Master Class Video

Thursday, March 21, 2019
Tech Data’s Goodwill Adjustment

Tuesday, March 19, 2019
There’s Taxes, and There’s Taxes

Saturday, March 16, 2019
Adventures in Tax Cuts and Net Income

Archive  |  Search:

We appreciate Congressman Capuano’s leadership on this matter!

Dear Mr. Rapp, 

Thank you for contacting me expressing your opposition to H.R. 4164, the Small Company Disclosure Simplification Act.  

As you are aware, the Small Company Disclosure Simplification Act would exempt emerging growth companies and issuers with total annual gross revenues of less than $250 million from the requirements to use Extensible Business Reporting Language (XBRL) for financial statement and other mandatory reporting.  The bill would exempt approximately 60 percent of public companies.  Like you, I do not believe that exempting such a large segment of the market would benefit the companies or investors. On March 14, I voted against H.R. 4164 in the House Financial Services Committee Mark-up Session. Ultimately, the Committee passed H.R. 4164 by a vote of 51-5.  

I appreciate your comments on the increased number of investors who are now benefiting from XBRL. As with any process, there is room to improve and more can be done to make XBRL more user friendly and more accurate. I hope that this interactive financial reporting system will continue to improve and provide a better system for the public.

Thank you again for your comments. If my staff or I can be of further assistance, please do not hesitate to contact my office.

Sincerely,

Michael E. Capuano
Member of Congress


FREE Calcbench Premium
Two Week Trial

Research Financial & Accounting Data Like Never Before. More features and try our Excel add-in. Sign up now to try the Premium Suite.