IASC Foundation XBRL Team Technical IssuesPresentation Transcript
IASC Foundation XBRL Team Technical Issues Madrid, 5-6 October 2006
List of issues
Taxonomy management & development
What kind of versioning solution should IFRS-GP provide? What’s the scope of versioning?
What should be the scope of modularisation ? How “deep” to modularise?
How to create consistent IFRS-GP & IFRS-SME schema architecture ? Is atomisation a good solution?
How to foster the adoption of IFRS-GP? How to provide multilingual taxonomy ? Lack of language attribute on extended links.
Taxonomy Element Search
Restated label , Debit / Credit
Technical XBRL issues
discovery of IFRS-GP linkbases in extensions – How to allow (force) software to discover “old” IFRS-GP linkbases in extensions (AU case)?
List of issues (cont’d)
IFRS-GP Taxonomy relation to other international taxonomies
Taxonomy Extension Framework
How to provide a comprehensive and consistent framework for extensions ? Should the IASCF team provide one?
Tuple content model extension
How to avoid rounding errors / issues in IFRS-GP and extension instances?
XBRL PL CL Issues
Structualisation & c ross-context calculation
Tools issue and demo
Versioning Issues: Introduction
How to capture differences
Detail of data collection
Equality of concepts
Complex XML elements
Dependencies of changes
Arcs and locators of linkbases
Structure of a diffing linkbase
Visualisation of a diffing linkbase
Versioning Issues: Solution INDEX
Taxonomy Modularisation: Issues
Taxonomy should be modularised to allow easier extensibilty
Question: what should be the level / base of modularisation?
Structures? (e.g. Assets, Liabilities)
IASs / IFRSs? (IAS 1, IAS 14)
Financial report modules? (e.g. Balance sheet, Income statement)
Taxonomy Modularisation: Current Solution INDEX
Taxonomy Modularisation: Solution INDEX
Taxonomy Architecture: Issue Atomisation
Taxonomy Architecture: Solution
This issue is currently under discussion
Various solutions are investigated in XBRL Lab
Translation Issues: Aim
Provide a small sample of some of the issues faced when translating taxonomy labels
Issue #1: Label linkbase files
Single Combined File
IFRS-GP taxonomy uses standard labels – which aren’t really standard
Restated labels; and
Opening/closing balances only
Issue #2: Types of Labels
Finished Goods Inventory, End of Period period end label Finished Goods Inventory, Beginning of Period period start label Label for item FinishedGoodsInventory (period type = instant) Similes ??? Total Currency Translations, Net total label zero verbose label zero terse label zero label Foreign Currency Translations, Net Loss negative verbose label F/X Loss negative terse label Currency translations, Loss negative label Foreign Currency Translations, Net Gain positive verbose label F/X Gain positive terse label Currency Translations Gain positive label Foreign Currency Translations, Net Result verbose label F/X Net terse label Currency Translations, Net standard label Label for item NetResultForeignCurrencyTranslations (period type = duration) Role
Issue #3: Case
All nouns, verbs and adjectives appear with an initial capital;
But, conjunctions and prepositions do not
Names are formed by Label CamelCase Concatenation (LC3).
Issue #4: Sentence Structure
Unique sentence structure
Accommodates searching on concept labels
Issue #5: Minimum Context
Using the other linkbases for information, in particular the presentation linkbase
Issue #6: IFRS-GP Number of Elements
Terminology list/force translation
Issue #7: Tools Maturity
Creation a separate Italian IFRS-GP label linkbase.
To make the import of ifrs-Italian labels into the ifrs taxonomy creating a separate label linkbase, I have opened the ifrs-gp-2004-09-15 taxonomy without loading the label linkbase with English labels;
Then I made an import of the excel worksheet with Italian labels. The “Import type” I have chosen was “Labels” and in the “Key Field” I selected “Name”, in addition in correspondence of the row “Italian Label” of “Import field” view pane I have selected “Label” for the “Taxonomy field”. (I did not know which was the correct import type, but making an export from the file with English labels linkbase I tried to build an excel file with Italian labels)
I have saved the Taxonomy (ifrs-gp-2004-09-15.xsd) with the new imported excel file so that a new label linkbase has been created (ifrs-gp-2004-09-15-label.xml). But the file ifrs-gp-2004-09-label.xml is the label linkbase with the Italian labels;
Then I have changed the name of the file in ifrs-gp-2004-09-15-label-italian.xml;
I have opened with “Notepad” the schema file ifrs-gp-2004-09-15.xsd and I have changed also in the schema the name of the label linkbase file into ifrs-gp-2004-09-15-label-italian.xml;
Restated values are often reported in financial statements (especially movements in equity)
How should restatement be defined?
As an element in the taxonomy?
As a separate context?
Is the restatedLabel role required?
Restated Issue: Solution
Further issues: cross-context calculation not allowed
Issue under discussion – XBRL Germany: Thomas Klement
Debit / Credit Issue
XBRL rules allow only certain combinations of debit / credit values for balance attribute that are valid according to calculation linkbase validation
Various approaches are however possible to model calculation linkbase (weights)
SummationItem Target Summation Item Source
Debit / Credit Contra Entries
A particular set of rules was applied in the IFRS-GP Taxonomy according to most common accounting rules
3 – level algorithm was applied to define balance attributes consistently with calculation linkbase
Discovery of IFRS-GP Linkbases
How to force discovery of “old” IFRS-GP linkbases in IFRS-GP extensions?
Discovery of IFRS-GP Linkbases: Solutions INDEX
References Reuse - Issue On AssetsDisclosures On HedgingAssetsNonCurrent Pointing to IAS 1 68 d Pointing to IAS 1 68 c From AssetsDisclosures to its reference resources IAS 1 68 d From HedgingAssetsNonCurrent to its reference resource Pointing to IAS 1 68 d IAS 1 68 c IFRS GP IAS/ IFRS Bound Volume Resource for references Arcs between element locators and resources Elements locators
References Reuse - Solution INDEX On AssetsDisclosures On HedgingAssetsNonCurrent Pointing to IAS 1 68 d Pointing to IAS 1 68 c From AssetsDisclosures to its reference resource IAS 1 68 d From HedgingAssetsNonCurrent to its reference resource IAS 1 68 c From AssetsDisclosures to its reference resource IAS/ IFRS Bound Volume Resource for references Arcs between element locators and resources Elements locators
Use Attribute: Issue
Inconsistency in the “use” attribute (FRTA vs Spec schema)
Use Attribute: Solution
a possible solution to this issue might be to set a default value for use, according to 3.2.2 XML Representation of Attribute Declaration Schema Components