IASC Foundation XBRL Team Technical Issues


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  • IASC Foundation XBRL Team Technical Issues

    1. 1. IASC Foundation XBRL Team Technical Issues Madrid, 5-6 October 2006
    2. 2. List of issues <ul><li>Taxonomy management & development </li></ul><ul><ul><li>Versioning </li></ul></ul><ul><ul><ul><li>What kind of versioning solution should IFRS-GP provide? What’s the scope of versioning? </li></ul></ul></ul><ul><ul><li>Taxonomy modularisation </li></ul></ul><ul><ul><ul><li>What should be the scope of modularisation ? How “deep” to modularise? </li></ul></ul></ul><ul><ul><li>Taxonomy architecture </li></ul></ul><ul><ul><ul><li>How to create consistent IFRS-GP & IFRS-SME schema architecture ? Is atomisation a good solution? </li></ul></ul></ul><ul><ul><li>Translation issues </li></ul></ul><ul><ul><ul><li>How to foster the adoption of IFRS-GP? How to provide multilingual taxonomy ? Lack of language attribute on extended links. </li></ul></ul></ul><ul><ul><li>Taxonomy Element Search </li></ul></ul><ul><ul><ul><li>Demo </li></ul></ul></ul><ul><ul><li>Accounting issues </li></ul></ul><ul><ul><ul><li>Restated label , Debit / Credit </li></ul></ul></ul><ul><ul><li>Technical XBRL issues </li></ul></ul><ul><ul><ul><li>discovery of IFRS-GP linkbases in extensions – How to allow (force) software to discover “old” IFRS-GP linkbases in extensions (AU case)? </li></ul></ul></ul><ul><ul><ul><li>References Reuse </li></ul></ul></ul><ul><ul><ul><li>Use attribute </li></ul></ul></ul>
    3. 3. List of issues (cont’d) <ul><li>Extensibility issues </li></ul><ul><ul><li>IFRS-GP Taxonomy relation to other international taxonomies </li></ul></ul><ul><ul><ul><li>Convergence </li></ul></ul></ul><ul><ul><li>Taxonomy Extension Framework </li></ul></ul><ul><ul><ul><li>How to provide a comprehensive and consistent framework for extensions ? Should the IASCF team provide one? </li></ul></ul></ul><ul><ul><li>Tuple extension </li></ul></ul><ul><ul><ul><li>Tuple content model extension </li></ul></ul></ul><ul><li>Instance collection </li></ul><ul><ul><li>Rounding issues </li></ul></ul><ul><ul><ul><li>How to avoid rounding errors / issues in IFRS-GP and extension instances? </li></ul></ul></ul><ul><ul><li>XBRL PL CL Issues </li></ul></ul><ul><ul><ul><li>Structualisation & c ross-context calculation </li></ul></ul></ul><ul><ul><li>Context Mapping </li></ul></ul><ul><ul><ul><li>Tools issue and demo </li></ul></ul></ul>
    4. 4. Versioning Issues: Introduction <ul><li>How to capture differences </li></ul><ul><li>Detail of data collection </li></ul><ul><li>Equality of concepts </li></ul><ul><li>Modularisation </li></ul><ul><li>Default values </li></ul><ul><li>Complex XML elements </li></ul><ul><li>content </li></ul><ul><li>Dependencies of changes </li></ul><ul><li>Arcs and locators of linkbases </li></ul><ul><li>Structure of a diffing linkbase </li></ul><ul><li>Visualisation of a diffing linkbase </li></ul>
    5. 5. Versioning Issues: Solution INDEX
    6. 6. Taxonomy Modularisation: Issues <ul><li>Taxonomy should be modularised to allow easier extensibilty </li></ul><ul><li>Question: what should be the level / base of modularisation? </li></ul><ul><ul><li>Structures? (e.g. Assets, Liabilities) </li></ul></ul><ul><ul><li>IASs / IFRSs? (IAS 1, IAS 14) </li></ul></ul><ul><ul><li>Concepts? </li></ul></ul><ul><ul><li>Financial report modules? (e.g. Balance sheet, Income statement) </li></ul></ul>
    7. 7. Taxonomy Modularisation: Current Solution INDEX
    8. 8. Taxonomy Modularisation: Solution INDEX
    9. 9. Taxonomy Architecture: Issue Atomisation
    10. 10. Taxonomy Architecture: Solution <ul><li>This issue is currently under discussion </li></ul><ul><li>Various solutions are investigated in XBRL Lab </li></ul>INDEX
    11. 11. Translation Issues: Aim <ul><li>Provide a small sample of some of the issues faced when translating taxonomy labels </li></ul>
    12. 12. Issue #1: Label linkbase files <ul><li>Single Combined File </li></ul><ul><li>Separate Files </li></ul>
    13. 13. <ul><li>IFRS-GP taxonomy uses standard labels – which aren’t really standard </li></ul><ul><li>Restated labels; and </li></ul><ul><li>Opening/closing balances only </li></ul>Issue #2: Types of Labels
    14. 14. 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
    15. 15. Issue #3: Case <ul><li>All nouns, verbs and adjectives appear with an initial capital; </li></ul><ul><li>But, conjunctions and prepositions do not </li></ul><ul><li>Names are formed by Label CamelCase Concatenation (LC3). </li></ul>
    16. 16. Issue #4: Sentence Structure <ul><li>Unique sentence structure </li></ul><ul><li>Accommodates searching on concept labels </li></ul>
    17. 17. Issue #5: Minimum Context <ul><li>Using the other linkbases for information, in particular the presentation linkbase </li></ul>
    18. 18. Issue #6: IFRS-GP Number of Elements <ul><li>4000+ </li></ul><ul><li>Repetition </li></ul><ul><li>Artificial terms </li></ul><ul><li>Compound terms </li></ul><ul><li>Terminology list/force translation </li></ul>
    19. 19. Issue #7: Tools Maturity <ul><li>Creation a separate Italian IFRS-GP label linkbase. </li></ul><ul><li>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; </li></ul><ul><li>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) </li></ul><ul><li>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; </li></ul><ul><li>Then I have changed the name of the file in ifrs-gp-2004-09-15-label-italian.xml; </li></ul><ul><li>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; </li></ul><ul><li><link:linkbaseRef xlink:type=&quot;simple&quot; xlink:href=&quot;ifrs-gp-2004-09-15-label-italian.xml&quot; xlink:role= http://www.xbrl.org/2003/role/labelLinkbaseRef xlink:arcrole=&quot;http://www.w3.org/1999/xlink/properties/linkbase&quot; xlink:title=&quot;Label Links, all&quot; /> </li></ul><ul><li>I have saved the Taxonomy and copied into the folder the label linkbase file ifrs-gp-2004-09-15-label.xml, but the original file with the English labels; </li></ul><ul><li>Then I have opened again in “Notepad” the schema ifrs-gp-2004-09-15.xsd, I have added manually the code for the label linkbase ifrs-gp-2004-09-15-label-xml; </li></ul><ul><li><link:linkbaseRef xlink:type=&quot;simple&quot; xlink:href=&quot;ifrs-gp-2004-09-15-label.xml&quot; xlink:role=&quot;http://www.xbrl.org/2003/role/labelLinkbaseRef&quot; xlink:arcrole=&quot;http://www.w3.org/1999/xlink/properties/linkbase&quot; xlink:title=&quot;Label Links, all&quot; /> </li></ul><ul><li>Finally I have saved the Taxonomy with Italian and English labels in two separate link bases. </li></ul>Unicode Issue
    20. 20. Issue #8: Completing the Translation <ul><li>Can’t translate extended links which group elements </li></ul>
    21. 21. Issue #9: Cooperation on Translation Required <ul><li>IFRS-GP – English, German, French, Japanese, Portuguese, Polish, Spanish, Dutch, Hungarian & Italian </li></ul><ul><li>CRAS FLIPA –Italian, Spanish, Japanese & English </li></ul><ul><li>US GAAP – Japanese & English </li></ul><ul><li>German GAAP – German & English </li></ul><ul><li>Dutch GAAP – Dutch & English </li></ul><ul><li>Belgium GAAP – French, Dutch & English </li></ul>
    22. 23. Review: (GermanAP Version 1.0) INDEX
    23. 24. Taxonomy Search
    24. 25. Restated Issue <ul><li>Restated values are often reported in financial statements (especially movements in equity) </li></ul><ul><li>How should restatement be defined? </li></ul><ul><ul><li>As an element in the taxonomy? </li></ul></ul><ul><ul><li>As a separate context? </li></ul></ul><ul><li>Is the restatedLabel role required? </li></ul>
    25. 26. Restated Issue: Solution <ul><li>Further issues: cross-context calculation not allowed </li></ul><ul><li>Issue under discussion – XBRL Germany: Thomas Klement </li></ul>INDEX
    26. 27. Debit / Credit Issue <ul><li>XBRL rules allow only certain combinations of debit / credit values for balance attribute that are valid according to calculation linkbase validation </li></ul><ul><li>Various approaches are however possible to model calculation linkbase (weights) </li></ul>SummationItem Target Summation Item Source
    27. 28. Debit / Credit Contra Entries <ul><li>A particular set of rules was applied in the IFRS-GP Taxonomy according to most common accounting rules </li></ul><ul><li>3 – level algorithm was applied to define balance attributes consistently with calculation linkbase </li></ul><ul><li>Contra entries </li></ul><ul><li>Example: COGS </li></ul>INDEX
    28. 29. Discovery of IFRS-GP Linkbases <ul><li>How to force discovery of “old” IFRS-GP linkbases in IFRS-GP extensions? </li></ul>
    29. 30. Discovery of IFRS-GP Linkbases: Solutions INDEX
    30. 31. 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
    31. 32. 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
    32. 33. Use Attribute: Issue <ul><li>Inconsistency in the “use” attribute (FRTA vs Spec schema) </li></ul>
    33. 34. Use Attribute: Solution <ul><li>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 </li></ul><ul><li><attribute name=&quot;use&quot; type=&quot;xl:useEnum&quot; use=&quot;optional&quot; default=”optional” /> </li></ul>INDEX
    34. 35. Convergence <ul><li>How to converge IFRS-GP & US GAAP taxonomies? </li></ul>
    35. 37. Convergence: Solution INDEX
    36. 38. Taxonomy Extension Framework: Issue <ul><li>How to provide consistent Taxonomy Extension Framework? </li></ul><ul><ul><li>Extensions repository </li></ul></ul><ul><ul><li>Supporting software </li></ul></ul><ul><ul><li>Guidance </li></ul></ul><ul><ul><li>… </li></ul></ul>
    37. 39. Taxonomy Extension Framework: Issue INDEX Company Specific Extensions Jurisdiction Specific Extensions Industry Extensions Bound Volume
    38. 40. Tuple Content Model Issue <ul><li>It is impossible to extend tuple content model </li></ul>
    39. 41. Tuple Content Model: Solution <ul><li>Recreation of tuples (and renaming) is required </li></ul>INDEX
    40. 42. Rounding Issues <ul><li>XBRL Spec’s issues with rounding (decimals, precision) </li></ul><ul><li>Mapping issues while using external software (MS Excel) </li></ul>
    41. 43. Rounding Issues: Solution <ul><li>Excel option: “Precision as displayed” (Tools -> Options -> Calculations) </li></ul><ul><li>XBRL attributes: decimals=“INF” (FRTA rule), precision not used ??? </li></ul><ul><li>Values need to be input as originally stated (rounding / truncating not recommended) </li></ul>
    42. 44. Presentation & Calculation Issues <ul><li>Presentation linkbase </li></ul><ul><ul><li>Does not work as a “presentation” linkbase – rather works as “structuralisation” linkbase </li></ul></ul><ul><li>Calculation linkbase </li></ul><ul><ul><li>Does not allow cross-context calculations </li></ul></ul><ul><ul><li>Does not allow calculations other than adding, subtracting </li></ul></ul>INDEX
    43. 45. Demo Solution of Context Mapping