The importance of an in-house Securities and Exchange Commission reporting solution with built-in XBRL tagging capabilities is becoming more and more evident as many companies complete their first exercise in detailed tagging. With financial reporting teams looking to take control of their tagging, it is clear to see that additional insight is needed around the selection of XBRL tags.

Overall, XBRL tagging is a straightforward concept to grasp: identifying common data elements for comparison. However, detailed tagging can create a myriad of challenges that should be considered. By examining your XBRL units closely for accuracy and usability, the correctness of your entire report will improve considerably.

Timothy Randle, director of XBRL solutions at WebFilings, explains five ways to choose the best tagging units for your company in his newest technical report.

Select the correct U.S. GAAP taxonomy and extension units to best represent your company profile, now and later

Use the XBRL Unit Type Registry to your advantage

Properly report percentages and ratios with the pure measure unit

Create custom units universal across multiple concepts—select appropriate decimal and integer units

Find out the specific circumstances and concept types when ratio units are required to express calculated values between two different units

Be confident in your XBRL unit selections. A developed unit selection and creation plan on the front end will result in a steady and smooth reporting cycle—especially during crunch time. Choosing the right units from the start will ensure a compliant foundation in future reports and taxonomy migrations down the road.

Read the complete white paper now and start improving the quality of your tagging on your next report, "XBRL Units: Simplifying the Selection Process".