IASC Foundation XBRL Team Technical Issues
- 1. IASC Foundation XBRL Team Technical Issues Madrid, 5-6 October 2006
- 2. List of issues Taxonomy management & development Versioning What kind of versioning solution should IFRS-GP provide? What’s the scope of versioning? Taxonomy modularisation What should be the scope of modularisation ? How “deep” to modularise? Taxonomy architecture How to create consistent IFRS-GP & IFRS-SME schema architecture ? Is atomisation a good solution? Translation issues How to foster the adoption of IFRS-GP? How to provide multilingual taxonomy ? Lack of language attribute on extended links. Taxonomy Element Search Demo Accounting issues 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)? References Reuse Use attribute
- 3. List of issues (cont’d) Extensibility issues IFRS-GP Taxonomy relation to other international taxonomies Convergence Taxonomy Extension Framework How to provide a comprehensive and consistent framework for extensions ? Should the IASCF team provide one? Tuple extension Tuple content model extension Instance collection Rounding issues How to avoid rounding errors / issues in IFRS-GP and extension instances? XBRL PL CL Issues Structualisation & c ross-context calculation Context Mapping Tools issue and demo
- 4. Versioning Issues: Introduction How to capture differences Detail of data collection Equality of concepts Modularisation Default values Complex XML elements content Dependencies of changes Arcs and locators of linkbases Structure of a diffing linkbase Visualisation of a diffing linkbase
- 5. Versioning Issues: Solution INDEX
- 6. 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) Concepts? Financial report modules? (e.g. Balance sheet, Income statement)
- 7. Taxonomy Modularisation: Current Solution INDEX
- 8. Taxonomy Modularisation: Solution INDEX
- 9. Taxonomy Architecture: Issue Atomisation
- 10. Taxonomy Architecture: Solution This issue is currently under discussion Various solutions are investigated in XBRL Lab INDEX
- 11. Translation Issues: Aim Provide a small sample of some of the issues faced when translating taxonomy labels
- 12. Issue #1: Label linkbase files Single Combined File Separate Files
- 13. IFRS-GP taxonomy uses standard labels – which aren’t really standard Restated labels; and Opening/closing balances only Issue #2: Types of Labels
- 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. 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).
- 16. Issue #4: Sentence Structure Unique sentence structure Accommodates searching on concept labels
- 17. Issue #5: Minimum Context Using the other linkbases for information, in particular the presentation linkbase
- 18. Issue #6: IFRS-GP Number of Elements 4000+ Repetition Artificial terms Compound terms Terminology list/force translation
- 19. 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; <link:linkbaseRef xlink:type="simple" xlink:href="ifrs-gp-2004-09-15-label-italian.xml" xlink:role= http://www.xbrl.org/2003/role/labelLinkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Label Links, all" /> 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; 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; <link:linkbaseRef xlink:type="simple" xlink:href="ifrs-gp-2004-09-15-label.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Label Links, all" /> Finally I have saved the Taxonomy with Italian and English labels in two separate link bases. Unicode Issue
- 20. Issue #8: Completing the Translation Can’t translate extended links which group elements
- 21. Issue #9: Cooperation on Translation Required IFRS-GP – English, German, French, Japanese, Portuguese, Polish, Spanish, Dutch, Hungarian & Italian CRAS FLIPA –Italian, Spanish, Japanese & English US GAAP – Japanese & English German GAAP – German & English Dutch GAAP – Dutch & English Belgium GAAP – French, Dutch & English
- 23. Review: (GermanAP Version 1.0) INDEX
- 24. Taxonomy Search
- 25. Restated Issue 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?
- 26. Restated Issue: Solution Further issues: cross-context calculation not allowed Issue under discussion – XBRL Germany: Thomas Klement INDEX
- 27. 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
- 28. 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 Contra entries Example: COGS INDEX
- 29. Discovery of IFRS-GP Linkbases How to force discovery of “old” IFRS-GP linkbases in IFRS-GP extensions?
- 30. Discovery of IFRS-GP Linkbases: Solutions INDEX
- 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
- 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
- 33. Use Attribute: Issue Inconsistency in the “use” attribute (FRTA vs Spec schema)
- 34. 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 <attribute name="use" type="xl:useEnum" use="optional" default=”optional” /> INDEX
- 35. Convergence How to converge IFRS-GP & US GAAP taxonomies?
- 38. Taxonomy Extension Framework: Issue How to provide consistent Taxonomy Extension Framework? Extensions repository Supporting software Guidance …
- 39. Taxonomy Extension Framework: Issue INDEX Company Specific Extensions Jurisdiction Specific Extensions Industry Extensions Bound Volume
- 40. Tuple Content Model Issue It is impossible to extend tuple content model
- 41. Tuple Content Model: Solution Recreation of tuples (and renaming) is required INDEX
- 42. Rounding Issues XBRL Spec’s issues with rounding (decimals, precision) Mapping issues while using external software (MS Excel)
- 43. Rounding Issues: Solution Excel option: “Precision as displayed” (Tools -> Options -> Calculations) XBRL attributes: decimals=“INF” (FRTA rule), precision not used ??? Values need to be input as originally stated (rounding / truncating not recommended)
- 44. Presentation & Calculation Issues Presentation linkbase Does not work as a “presentation” linkbase – rather works as “structuralisation” linkbase Calculation linkbase Does not allow cross-context calculations Does not allow calculations other than adding, subtracting INDEX
- 45. Demo Solution of Context Mapping