ias taxonomy core fs narrative draft - · web viewtitle ias taxonomy core fs narrative draft...

IAS Taxonomy for Commercial and Industrial Entities - Module One: Core Financial Statements

IAS Taxonomy 2002-03-08 (Alpha 1)Financial Reporting for Commercial and Industrial Entities

Module One: Core Financial Statements8 March 2002

Presented by the IASC Foundation:The intent of the IASC Foundation XBRL web site is to provide ongoing information to organisations and individuals with interests in the IASC Foundation's XBRL work. The content on this site will be maintained and updated by the IASC Foundation in London. Comments should be directed to [email protected]

Kurt Ramin (Commercial Director) David Prather (Manager of Electronic Projects)[email protected] [email protected] +44 (0)20 7246-6410 Ph +44 (0)20 7246-6410

mailto:[email protected]



IAS Taxonomy for Commercial and Industrial Entities - Module One: Core Financial Statements 2

Editors:Josef Macdonald, Ernst & Young, New ZealandCharlie Hoffman, UBMatrix, USDavid Prather, IASC Foundation, LondonDavid Huxtable, KPMG, AustraliaThomas Egan, Deloitte & Touche, SingaporeJulie Santoro, KPMG, London

IAS XBRL Steering Committee Co-chairs:Paul Phenix, Australian Stock Exchange, AustraliaDavid Prather, IASC Foundation, London

IAS Taxonomy Working Group Co-chairs:Josef Macdonald, Ernst & Young, New ZealandKok Kwai Tang, Institute of Certified Public Accountants of Singapore, Singapore

Summary Taxonomy Information:Name: Financial Reporting for Commercial and Industrial Companies, IAS

GAAPDescription: Taxonomy for the creation of XML-based instance documents for

business and financial reporting of commercial and industrial companies according to IAS GAAP

Namespace identifier:

http://www.iasc-committees.org/xbrl/ias/gaap/ci/2002-03-08

Recommended namespace prefix: iascfIssued: 2002-03-08 (8 March, 2002)Version of XBRL Specification Used:

XBRL Specification 2.0 dated 2001-12-14

Status: Draft

This version:http://www.xbrl.org/xbrl/ias/gaap/ci/ias-gaap-ci-2002-03-08.doc (Word Format)http://www.xbrl.org/xbrl/ias/gaap/ci/ias-gaap-ci-2002-03-08.pdf (PDF Format)http://www.xbrl.org/xbrl/ias/gaap/ci/ias-gaap-ci-2002-03-08.zip (All Files)

HREF="http://www.xbrl.org/legal/copyright-documents-2000-03-31.html" © 2002 HREF="http://www.xbrl.org/" ® All Rights Reserved. XBRL International liability, HREF="http://www.xbrl.org/legal/trademark-license-2000-03-31.html", HREF="http://www.xbrl.org/legal/copyright-documents-2000-03-31.html" and HREF="http://www.xbrl.org/legal/copyright-software-2000-03-31.html" rules apply.


AbstractThis documentation explains the IASC Foundation’s eXtensible Business Reporting Language (XBRL) IAS GAAP Taxonomy 2002-03-08 (Alpha 1) Financial Reporting for Commercial and Industrial Companies, IAS GAAP (“the Taxonomy”). It accompanies the release of the first completed section of the Taxonomy – Module One: Core Financial Statements.This Taxonomy is compliant with XBRL Specification Version 2.0, dated 2001-12-14. It is for the creation of XML-based instance documents that generate business and financial reporting for commercial and industrial companies according to IAS GAAP.This document assumes a general understanding of accounting and XBRL. If the reader desires additional information relating to XBRL, the XBRL International web site (http://www.xbrl.org) is recommended. For the the technically inclined, a reading of the XBRL Specification Version 2.0 is highly recommended (http://www.xbrl.org/tr/2001/). The purpose of this document is to document the IAS Taxonomy Working Group’s approach to the development of this Taxonomy.XBRL allows software vendors, programmers, and end users to enhance the creation, exchange, and comparison of financial reporting information. Financial information reporting includes, but is not limited to, financial statements, financial information, non-financial information and regulatory filings such as annual and interim financial statements.TerminologyThe terminology used in this document frequently overlaps with terminology from other fields. The following short list is provided to reduce the possibility of ambiguity and confusion.Taxonomy

An XML Schema that defines new elements each corresponding to a concept that can be referenced in XBRL documents. This taxonomy is a classification system for business and financial reporting data elements. XBRL taxonomies can be regarded as extensions of XML Schemas that make use of XBRL ‘core’ elements and types, along with XLink linkbases that define the relationships between the data elements.

Instance document

An XML document containing XBRL elements. The financial statements of a company or any part thereof, expressed in XBRL, would be an instance document as would an HTML file that had various other XBRL items documents embedded in it.

Element An XML element, but also a “fact” or piece of information described by this taxonomy. For example, the element with the name “cfl.cdm” is the element notation given to the financial statement disclosure item “cash flow reconciliation for operating activities, direct method.”

Linkbase An XBRL linkbase provides additional information about XBRL elements, in particular, relationships between them such as the relationship that property plant & equipment is defined as an asset.

http://www.xbrl.org/tr/2001/

IAS Taxonomy for Commercial and Industrial Entities - Module One: Core Financial Statements

Table of ContentsABSTRACT.............................................................................................................................................................3

TABLE OF CONTENTS........................................................................................................................................4

1.0 INTRODUCTION.......................................................................................................................................5

1.1 Purpose.................................................................................................................................................51.2 Documentation Available......................................................................................................................61.3 Relationship to Other Work.................................................................................................................61.4 XBRL Specification..............................................................................................................................61.5 Taxonomy Status..................................................................................................................................7

2.0 OVERVIEW OF TAXONOMY................................................................................................................7

2.1 Structure................................................................................................................................................72.2 Naming Conventions.............................................................................................................................82.3 Language...............................................................................................................................................92.4 References and Descriptions.................................................................................................................9

3 ITEMS TO NOTE IN USING THE TAXONOMY.....................................................................................9

3.1 How to Interpret the Taxonomy Structure.........................................................................................103.2 Income Statement and Cash Flows Structure....................................................................................103.3 Reuse of Taxonomy Elements..............................................................................................................113.4 Linked Information..............................................................................................................................123.5 Tuples..................................................................................................................................................123.6 Namespaces.........................................................................................................................................123.7 Miscellaneous Points to Note..............................................................................................................12

4.0 WHERE TO NEXT?.................................................................................................................................13

4.1 Items to Be Accomplished...................................................................................................................134.2 Release Criteria..................................................................................................................................144.3 System of Control................................................................................................................................144.4 Timetable.............................................................................................................................................154.5 Review and Testing.............................................................................................................................16

5.0 UPDATES AND CHANGES.......................................................................................................................17

5.1 Change Log.........................................................................................................................................175.2 Updates to this Taxonomy..................................................................................................................175.3 Errors and Clarifications....................................................................................................................175.4 Comments and Feedback...................................................................................................................17

6.0 ACKNOWLEDGEMENTS......................................................................................................................18

7.0 XBRL International Members.................................................................................................................18


1.0 IntroductionThe International Accounting Standards Committee Foundation (IASC Foundation) is leading the development of this eXtensible Business Reporting Language (XBRL) taxonomy for the purpose of expressing financial statements according to International Accounting Standards (IAS) or, International financial Reporting Standards (IFRS), as they will soon be renamed.Currently, this Taxonomy is in DRAFT form. Different sections of the taxonomy are in different states of completion. The following is a summary of the status of the components of this Taxonomy:

Component State of Completion CommentsCore Financial Statements

FINAL DRAFT Feature complete. All components are included. Module One: Core Financial Statements consists of: Balance Sheet, Income Statement, Statement of Cash Flows, and Statement of Changes in Equity taxonomy elements. Names of elements may be reconsidered by the IAS Taxonomy Working Group but are unlikely to change. Some references and labels may change.

Notes and Disclosures

DRAFT ONLY, NOT RELEASED

In progress. Will likely change. Due to be released in modules in the near future.

Calculation linkbases

NOT RELEASED Calculation linkbases are not provided at the time of publication of this document, as tools are not available to test the accuracy of these calculation links. Calculation linkbases will be provided in the future.

The intent of this document is to explain the Taxonomy as it exists to date, and in particular, the release of Module One: Core Financial Statements.This Taxonomy is compliant with XBRL Specification Version 2.0, dated 2001-12-14. It is for the creation of XML-based instance documents that generate business and financial reporting for commercial and industrial companies according to IAS GAAP.This document assumes a general understanding of accounting and XBRL. If the reader desires additional information relating to XBRL, the XBRL International web site is recommended. Specifically, a reading of the XBRL Specification Version 2.0 is highly recommended. It is beyond the scope of this document to teach the reader about XBRL or accounting. The purpose of this document is to explain how XBRL is being applied in this specific case, for this taxonomy.

1.1 PurposeThe purpose of this taxonomy is to provide a framework for the consistent creation of XML-based documents for financial reporting purposes of companies.


The purpose of this and other taxonomies produced using XBRL is to supply a framework that will facilitate data exchange among software applications used by companies and individuals as well as other financial information stakeholders, such as lenders, investors, auditors, attorneys, and regulators.This Taxonomy is based upon the International Accounting Standards (“IAS”) and Statements of Interpretation (“SIC”) effective 01 January 2002. As this Taxonomy primarily addresses the reporting considerations of commercial and industrial companies, IAS 26 and IAS 30 disclosure requirements are not represented in the Taxonomy’s content. The Taxonomy models disclosures that are typically represented in IAS model financial statements, checklists and guidance materials as provided from each of the Big 5 international accounting firms. The Taxonomy is designed to accommodate taxonomy extensions which leverage the Taxonomy for use in individual IAS harmonised jurisdictions, to reflect both local jurisdictional generally accepted accounting practice and their individual entity requirements. For example, an Australian taxonomy may be constructed from this Taxonomy and a local taxonomy, which adapts and extends this Taxonomy to reflect the requirements of its local jurisdiction’s generally accepted accounting practice.

1.2 Documentation AvailableThe following documentation is available to assist those wishing to understand and use this taxonomy. This documentation is available on the XBRL International web site (http://www.xbrl.org):

Taxonomy Overview Documentation: (This document) This overview document describing objectives of the IASC Foundation and the Taxonomy.

Summary Taxonomy Printout: This is a summary listing of taxonomy elements in a human readable format for the purpose of obtaining an overview of this taxonomy.

Naming Conventions Documentation: Detailed explanation of the naming conventions that attach to elements of the Taxonomy.

These documents correspond to a set of interrelated files comprising an XBRL taxonomy: XML Schema File (.XSD file): An XBRL Version 2.0 Taxonomy module - Module

One: Core Financial Statements. XBRL Linkbases (.XML files): Linkbases for labels, references, presentation and

definitions are provided. Note that a calculations linkbase is not provided.

1.3 Relationship to Other WorkXBRL utilises World Wide Web consortium (W3C) specifications and recommendations, specifically XML 1.0 , XML Namespaces, XML Schema 1.0, and XLink Recommendation 1.0.

1.4 XBRL Specification This taxonomy is created in accordance with the XBRL Specification version 2.0, dated 2001-12-14. For more information on XBRL, see the XBRL Specification at: (http://www.xbrl.org/tr/2001/).

1.5 Taxonomy StatusThe Taxonomy was released for public comment on March 8, 2002.

http://www.xbrl.org/tr/2001/

http://www.w3.org/xml-namespaces

http://www.w3.org/TR/xml/


The Taxonomy is divided into two main parts: “iascf-core”, the Core Financial Statements which includes the balance sheet,

income statement, cash flow statement and statement of equity which are released as a "FINAL DRAFT" in Module One; and

“iascf-nd”, Notes Disclosures to the Core Financial Statements (and other disclosures) are currently "DRAFT ONLY" and are due to be released soon after the release of Module One as subsequent modules.

The “iascf-core” Taxonomy is a FINAL DRAFT. Its content and structure have been reviewed both accounting and technical teams of the Taxonomy Development Working Group. As such, the XBRL element names, labels, linkbases and references should be considered complete and stable within the domain of the “iascf-core” Taxonomy. Although changes may occur to any of this XBRL data, the likelihood of any changes altering significantly the content of the Taxonomy is small.The “iascf-nd” Taxonomy is currently a DRAFT. It will likely require completing and significant amendments after review. Many sections are complete with respect to the general Taxonomy structure, however element names, labels, references have not yet been finalised. This section of the Taxonomy has not been released for comment.

2.0 Overview of TaxonomyThe following is an overview of the taxonomy. It is assumed that the reader is familiar with financial and business reporting and has a basic understanding of XML and XBRL. The combined “iascf-core” and “iascf-nd” Taxonomy currently contains over 2500 elements or unique, individually identified pieces of information. This Taxonomy makes available to users the most commonly disclosed financial information under IAS Standards.

2.1 StructureThe Taxonomy is divided logically into sections that correspond to typical financial statement components. While there is no true concept of “sections” in the Taxonomy, their purpose is to group similar concepts together and facilitate navigation within the Taxonomy. The following is a listing of “sections” and a brief explanation (where necessary) of those sections:The higher-level sections of the Taxonomy are as follows:


Financial Statements

Accounting Policies Balance Sheet Income Statement Statement of Changes in Equity Statement of Cash Flows Notes to Financial Statements Balance Sheet Disclosures Income Statement Disclosures Other Disclosures Auditor's Report Management Commentary Auditor's Report XBRL Utilities (Global Taxonomy) Contains information that is specific to the

document being created. For example, general information about the title of the document, its creator, or revisions to the document. Contains information that describes the entity that issued the document. For example, the name of the entity and the industry in which the entity operates.

Note: Taxonomy sections shown in bold italics are part of “iascf-core”.

The Taxonomy is organised into a hierarchy that approximates the style of a balance sheet. Accountants use this to organise audit working papers, the display of notes in the financial statement, etc. This arrangement was chosen because it is a simple and logical way to organise the taxonomy so users can easily find what they are looking for. To provide a usable structure to intended users of the Taxonomy and to the achieve internal consistency, “groupings” of individual line items appearing outside the pro-forma balance sheet of the Taxonomy are grouped in the same order that individual items are presented in the pro-forma balance sheet section of the Taxonomy. For example, notes disclosures relating directly to sub-categories of assets appearing in the balance sheet will appear in the same order in the Notes Disclosures section.

2.2 Naming ConventionsXBRL naming conventions follows that of XML Schema. Each name within a taxonomy must be unique and must start with an alpha character or the underscore character. Element names are case-sensitive so “different”, “Different” and “DIFFERENT” can all exist within the same taxonomy because they are considered unique. The IASC Foundation’s naming convention follows these rules. In particular, element names should not be interpreted as containing a “hierarchical” structure or as indicating relationships with other elements; structure is left to XBRL linkbases.


An IASC Foundation XBRL “element” is called a composite element. A composite element is comprised of IASC Foundation “components”. Each component represents an IAS concept, definition or best practice, etc. Each component is three characters in length and each three-character component is cross referenced (in a separate file) with the concept it represents. Combining multiple components yields a composite element. For example, “ast” and “inv” abbreviate, in English, “asset” and “inventory” respectively. Combining the two components produces the composite element “ast.inv”. Element names should not be interpreted as containing a “hierarchical” structure; structure is left to XBRL linkbases. For further details, see the separate IAS Taxonomy Naming Conventions document.

2.3 LanguageCurrently, labels for taxonomy elements are provided in English. In the future, this taxonomy will be expressed in additional languages.

2.4 References and DescriptionsReferences to IAS standards and Descriptions are provided where this information has been captured. References are complete for “iascf-core”.

Many elements use the XML Documentation fields to provide additional information that users may find useful, including the following four desciptors that identify the element and its position in the taxonomy:

IAS Mandatory – compulsory disclosure items IAS Recommended – IAS recommended or discretionary disclosure items IAS Common Practice – line items “expected” to be found in financial

statements Balancing Item – non-mandatory, but otherwise essential line items e.g.

subtotals

The following reference elements are used:

Name: IAS Number: 1 Chapter: 5 Paragraph: 6 Subparagraph: (i)

“IAS 1, para 5.6(i) is to illustrate how a reference is matched to these elements.” These may be amended in subsequent versions of the taxonomy. The likely reference will be: name, number, paragraph, subparagraph, clause to more accurately represent financial reporting standard conventions which do not contain “chapters”.

3 Items to Note in Using the TaxonomyThe following examples of how to interpret the Taxonomy are provided to make the Taxonomy easier to use. Please refer to the detailed printout of the DRAFT Taxonomy Module One: Core Financial Statements as you go through this explanation. This is intended to be a brief and concise overview. We expect and intend that the market will create courses, books and other materials to provide a through explanation of every aspect of using the Taxonomy.


3.1 How to Interpret the Taxonomy StructureThe following element fragment exists within the Taxonomy:

This means that for a commercial and industrial company, there is a type of non-current asset called “Property Plant and Equipment”. This is represented by the element with this label, and a composite name (not shown) of “ ast.ncr.ppe”.If a company reports their financials using an XBRL-compliant electronic instance document then one of the following will be true:

All of the entities “Cash, Cash Equivalents or Short Term Investments” must be recorded within one of the elements already included in the taxonomy as a child to this element, OR

The electronic document will include an extension to the taxonomy that consists of a new element or elements and an indication of how the new element rolls up to “Cash, Cash Equivalents and Short Term Investments”.

All of the elements in the fragment provided are of a data type “monetary” with a weight of “1”. Having a weight of “1” indicates that the element value of all children of an element, multiplied by the weight, then add up or roll up to the value of the parent element. For example, “Cash Equivalents” and “Cash” total to make up the value of “Cash and Cash Equivalents”. This continues up the tree so that “Assets” has a value of the children “Current Assets” and “Noncurrent Assets”. And so forth throughout the entire taxonomy. Note that tuples have a weight of “0”.

3.2 Income Statement and Cash Flows StructureThe structure of the Income Statement and Cash Flows statement, and other structures, may not appear intuitive at first glance. A section of the structure of the income statement is shown below to show why certain structures are represented as they are in the taxonomy.


An income statement's "bottom line" purpose is to show net income for an entity, and items which comprises net income. The final result is "Net Profit (Loss) for the Period Transferred to Equity". For this reason, the “Net Income Available to Common” element is the first child of the “Income Statement” element."Net Profit (Loss) for the Period Transferred to Equity" is comprised of two items: "Net Income" less "Preferred Dividends". In other words, in an income statement, the parent is computed from its children just as in a balance sheet, even though the sequential presentation of the parents and children line items in a printed document might be in a different order from that of a balance sheet."Net Income" is likewise comprised of three elements: "Minority Interests (Net Results)" and "Extraordinary Item of Income or Expense" and “Profit (Loss) After Tax”."Profit (Loss) After Tax " is likewise comprised of both continuing and discontinuing operations.This flow continues throughout the Income Statement. A similar flow exists for the Cash Flows Statement.

3.3 Reuse of Taxonomy ElementsA single composite element can appear in multiple times within an instance document. For example, the notes "Segment Information" and "Quarterly Financial Information" commonly contain Income Statement information. Those building instance documents will re-use the same income statement elements within these notes. This concept applies throughout the taxonomy.


3.4 Linked InformationOften it is necessary to separate element information that rolls up in accordance with the concept of parent-child relationships, in order to display it in different sections of the taxonomy. For example, the details of classes of property plant and Equipment appear separately in the notes from their parent element “Property Plant and Equipment”. These elements are labeled in the description field with the “same as” label. The “same as” concept is consistent with XBRL Specification Version 2.0, and its interpretation is as follows: it is an error if an instance document having two items linked by a “same as” label and which have the same numeric context, do not have the same content value.

3.5 TuplesTuples have a limited role within XBRL instance documents and therefore only a limited number of them appear in the taxonomy. While most business facts can be independently understood, some facts are dependent on each other for proper understanding if multiple occurrences of that fact are being reported. For example, in reporting management of a company, each manager’s name has to be properly associated with the manager’s correct title. Such sets of facts (manager’s title and manager’s name) are called “tuples”.

3.6 NamespacesNamespaces are an XML concept. XBRL, using XML Schema 1.0, uses XML namespaces in its schemas and instance documents. The purpose of a namespace is to identify the context of any particular XML element. Using namespaces removes any ambiguity or confusion that may arise as a result of elements from different contexts sharing the same element name.For example, the IASC Foundation’s Taxonomy uses the composite name “ast.cce” to represent “cash and cash equivalents”. If the United Kingdom creates an XBRL taxonomy that also uses “ast.cce”, there needs to be a “differentiating” mechanism. Using qualified namespaces – the XML way to say “required” – namespaces, the IASC Foundation’s “cash and cash equivalents” becomes iascf:ast.cce and the United Kingdom’s would be uk:ast.cce. The namespace simply adds a contextual prefix to any given XML element.

3.7 Miscellaneous Points to NoteThe following is additional explanation of this Taxonomy building process to date:

The Core Financial Statements have been built and are the substance of this release. The notes are still in progress; as they are built it is possible that some changes will propagate back into the core financial statements, although this is expected to be limited to minor name and label changes.

The structure of the Taxonomy as it stands may change; right now having these breakdowns assists the IAS Taxonomy Working Group to divide up the Taxonomy in the work process.

The jurisdictional taxonomies were de-emphasized in construction of this taxonomy. This is because a primary need was identified which entailed formalising a “pure” Taxonomy. Despite this, jurisdictions are continuing to contribute their needs to the process to be sure the IAS achieves the maximum that it can to help jurisdictional reporting.


The IAS Taxonomy Working Group has not decided finally on whether to delete the elements in the balance sheet and income statement and only have the elements in the disclosures. This issue will be addressed at a later date by the Working Group in conjunction with representatives of the XBRL International specification working group.

As a practical matter, reviewers should focus on the “local” relationships of elements with their immediate parents, and not get too concerned about the overall location in the taxonomy.

No calculation links are being released at this time. Calculation links will be provided as will an explanation of the calculation links strategy. These calculation links are merely “noted” in the DRAFT Taxonomy.

Element names may change, although the naming conventions documented will be followed and updated along with the updated taxonomy.

Ultimately the IAS Taxonomy Working Group will create additional report components such as a summary of the taxonomy by IAS statement. These will occur later.

The Taxonomy will be tested against Big 5 accounting firm IAS model financial statements by converting those model statements into XBRL instance documents and ensuring that the taxonomy covers all the necessary concepts.

4.0 Where to Next?

4.1 Items to Be AccomplishedThe following is a summary of the items yet to be accomplished:

The notes to the Taxonomy have not been completed or thoroughly reviewed. Members of the IAS Taxonomy Working Group agreed to continue reviewing and improving notes within the taxonomy.

The IAS Taxonomy Working Group will complete review of the Notes section. At the time of release of this document, members of the IAS Taxonomy Working

Group will have met in Berlin to:o Liaise with the XBRL International Specification Groupo Confirm availability and status of tools to convert the Taxonomy to the

XBRL version 2.0 specification.o Finalise element namingo Finalise Taxonomy file naming; o Plan migration of the taxonomy from version to version of the incremental

release; o Determine position on the web server for the file, o Name the directory.

Members of the IT Technical Sub-group of the IAS Taxonomy Working Group will perform a “consistency” review of the taxonomy for format and structural accuracy.

The IAS Taxonomy Working Group will compare the Core Financial Statements with actual IAS company reports. The IASC Foundation will publish to a specially constructed working site, the results of these comparisons. Other jurisdictions are encouraged to "map" actual financial statements to the taxonomy. This process will soon be facilitated by the development of Instance Document creation tools.

The taxonomy will be retested against IAS Industrial companies actual financial statements.


Individual jurisdictions will be invited to test the taxonomy by identifying similarities and difference with their own taxonomies and building “bolt-ons” to adapt to their own particular local GAAP and specific entity requirements.

The calculation linkbase is an optional part of the taxonomy. A decision about whether to include it in the Gold release or to set up a parallel development track with a deadline some time after the International XBRL Convention in Toronto, June 2002, will need to be made.

Consideration will be given to inclusion of standardized numeric/ non-numeric context elements for scenarios. In particular, facilitating communication of whether financial statements are draft, budgeted, forecast, audited/unaudited, etc.

Constant review and testing of the IAS XBRL taxonomy is contemplated as the only way to ensure usability of the finished product. For this reason the taxonomy will not be released in any final form until it has been tested for completeness against Big 5 IAS model financial statements and IAS commercial industrial companies actual financial statements.

4.2 Release CriteriaThe following is a summary of release criteria for this Taxonomy:

Alpha – Exposure draft of the Taxonomy to XBRL members. Beta – Draft version exposed to public for testing. Gold – Final version of the Taxonomy.

Planned releases are as follows: An incremental Alpha release can add or change elements, or modify linkbases.

There can be any number of incremental or modular Alpha rereleases. A Taxonomy Module (currently, core and notes) is not released as a Beta version

until its entire “top level” structure is covered. Detail within the top level items may be missing. It must be possible to model at least simple instance documents using the alpha taxonomy. There should be at least 4 instance documents accompanying the Beta release (a selection of model statements and a selection of real industrial companies). A Beta release will only be published in XBRL Version 2.0. The Calculation linkbase will NOT be included in this release.

A Taxonomy module is not promoted to Beta until all elements required to be in the final release version are present, although their linkbases (e.g., labels, reference, definition) may be incomplete. The Calculation linkbase is NOT included in this release. Again, a selection of instance documents are needed. A beta release requires Version 2 compliance. Element names are final.

An incremental Beta release (e.g. Beta 2) can add or change elements or modify linkbases. Backward compatibility with previous versions is not required, but the selection of instance documents must accompany the release.

A Taxonomy module is not released as Gold until at least two different software vendors’ software products have been able to create, modify, and display both the Taxonomy and the four instance documents interchangeably.

4.3 System of ControlA password protected taxonomy website will be set up at http://www.iasc-committees.org/xbrl/

http://www.iasc-committees.org/xbrl/


and the intent of this web site is to provide ongoing information to organisations and individuals with interests in the IAS's XBRL work and to control revisions to the Taxonomy. The content on this site will be maintained and updated by the IASC Foundation in London. Comments should be directed to David Prather.Located here is information regarding the IASC Foundation's XBRL efforts. This site is the "portal" for monitoring IAS XBRL and will be maintained by the IASB (IASC Foundation). It is a supplement to Yahoo! groups and only for use by members or designated members of the Singapore XBRL working group and IAS XBRL working group.The site will include XBRL files as well as additional information, such as contacts, discussions and instructions (detailed information/processes are on the site's homepage). This site will be updated several times a week, generally by 12:00 GMT on any given day. Update notifications will not be e-mailed out; it will be each users' responsibility to check the site for relevant information. These updates reflect technical accounting content, not XBRL version 2.0 migration.A running log tracks these changes in chronological order, with the most recent comments being at the top of the page.The deadline for the Taxonomy is the Xth International XBRL Conference in Toronto, 17th June 2002. XBRL Steering Committees in each of the jurisdictions are encouraged to continue contributing to the combined Taxonomy Group.

4.4 TimetableThe Taxonomy is scheduled to be released in its final Gold form in Toronto in June 2002. The following deadlines have been set:


Feb 30 March 15 March 30 April 15 April 30 May 15 May 30 June 15Taxonomy Development Group

Finalise Core Financials Beta 1

Model statements using Core financials Beta 1

Finalize Core Financials

Model statements using Notes Alpha 1

Finalize Notes

IAS UK Group

Review Notes Alpha 1

Complete Review of Notes Alpha 1

Accounting Technical Group

Complete the Notes Alpha 1

Software Technical Group

Complete consistency review of Core Financials Beta 1

Complete consistency review of Notes Alpha 1

Promote Core financials to Release status

Promote Notes Alpha 1 to Beta 1

Promote Notes to Release status

Dependencies and Constraints Beta 1 release depends on the availability of a version 2 compliant taxonomy and

instance editing tools. Final deliverables are to be scheduled for two weeks preceding the Toronto

meeting. Releases of Core+Notes depend on the prior release of the corresponding Core

version. Final release depends on the availability of two vendors’ spec 2 complaint

products. Vendors, users or other individuals not involved in taxonomy development will be

responsible for verifying XBRL Specification Version 2.0 compliance of the Gold release.

Deadlines for individuals representing jurisdictions will be tracked by the team lead and status of deliverables posted. At any point when the schedule has slipped by more than two weeks, the entire project will be rescheduled, the scope of deliverables for the Toronto meeting adjusted, and resulting changed expectations communicated to the rest of the XBRL community.

4.5 Review and TestingConstant review and testing of the Taxonomy is contemplated as the only way to ensure complete accuracy of the finished product. For this reason the taxonomy will not be released in any final form until it has been tested for completeness against Big 5 IAS model financial statements and IAS industrial companies actual financial statements.


5.0 Updates and Changes

5.1 Change LogNone at this time.

5.2 Updates to this TaxonomyThis taxonomy will be updated with revisions for errors and new features within the following guidelines:

Since financial statements created using a taxonomy must be available indefinitely, the taxonomy must be available indefinitely. All updates will take the form of new versions of the taxonomy with a different date. For example, the taxonomy "ias-gaap-ci-2002-03-08.xsd" will never change. New versions will be issued under a different name, such as "ias-gaap-ci-2003-12-31.xsd". This will ensure that any taxonomy created will be available indefinitely.

As the current Taxonomy version is "2.0", it is likely that errors exist in the taxonomy. It is intended that a revised version of this taxonomy will be created on or before June 17, 2002 to correct such errors and make necessary additions to the taxonomy for any omitted items.

It is anticipated that this taxonomy will be updated as required to incorporate changes in generally accepted accounting principles and business reporting norms.

It is expected that the market will provide functionality to convert an instance document created under one version of this taxonomy to be upgraded to future versions of this taxonomy.

5.3 Errors and ClarificationsThe following information relating to this taxonomy will be accumulated:

Errors which are brought to the attention of the preparers of this specification Workarounds where appropriate and available Clarification of items which come to the attention of the editors via comments and

feedback If you wish to report an error or require a clarification, please provide feedback as indicated in the “Comments and Feedback” section of this document.

5.4 Comments and FeedbackComments and feedback are welcome, particularly ideas to improve this taxonomy. If you have a comment or feedback or wish to report an error, post comments to:

[email protected]


6.0 AcknowledgementsTremendous effort has gone into creating this piece of intellectual property that is being placed in the public domain by the IASCF for use and benefit of all. The IASCF and members of XBRL International believe that this cooperative effort will benefit all participants in the financial information supply chain. The IASCF and XBRL International would like to acknowledge the contributions of the following individuals for their work in the creation of this taxonomy:

Name Organisation Accounting JurisdictionKurt Ramin IASB IASDavid Prather IASB IASJulie Santoro KPMG IASMark Schnitzer Morgan Stanley USWalter Hamscher Standard Advantage USCharles Hoffman XSI USBruno Tesniere PwC BelgiumRoger Debreceny Nanyang Technological University SingaporeOng Suat Ling Andersen SingaporePreetisura Gupta PwC SingaporeCharles Yeo Ernst & Young SingaporeThomas Egan Deloitte & Touche SingaporeStephen Taylor Deloitte & Touche Hong KongDavid Huxtable KPMG AustraliaDavid Hardidige Ernst & Young AustraliaPaul Phenix Australian Stock Exchange AustraliaAlastair Boult Audit New Zealand New ZealandJosef Macdonald Ernst & Young New ZealandDave Garbutt FRS South AfricaJan Wentzel PwC South AfricaKersten Droste PwC Germany

7.0 XBRL International MembersThe following is a listing of members of XBRL International as of March 3, 2002:ACCPAC International, Inc.; ACL Services Ltd.; Advisor Technology Services, LLC; American Institute of CPAs; Andersen; ANZ Bank; Asia Securities Printing; Anthem Software; Audicon; Australian and New Zealand Banking Group, Ltd; Australian Prudential Regulation Authority; Australia and New Zealand Banking Group; Australian Stock Exchange; Bank of America, BDO Seidman, LLP; Beacon IT; Best Software; Bowne & Co., Inc.; Bridge Information Systems; Bryant College; Business Wire; California State University, Northridge; Canadian Institute of Chartered Accountants; CaseWare International Inc.; Certified General Accountants of Canada Association of Canada; Cogniant, Inc.; Council of Koninklijk Nederlands Instituut van Registeraccountants (NIVRA); Count-net.com SA; CPA Australia; CPA2Biz; Crowe, Chizek and Company, LLP; Creative Solutions; DATEV e.G.; Defense Finance and Accounting Service (DFAS); Deloitte Touche Tohmatsu; Deutsche Bank AG; Deutsche Börse AG; Deutsche Bundesbank; Deutsche Vereinigung für Finanzanalyse und Asset Management; Diva Software; Dow Jones & Company, Inc.; Dresdner Kleinwort Wasserstein; DRSC; EDGAR Online, Inc.; eKeeper.com; eLedger.com, Inc.; Elemental Interactive; e-Numerate Solutions Incorporated; ePace! Software; ePartners, Inc.; Epicor Software Corporation; Ernst & Young; Federal Deposit Insurance Corporation; Fidelity Investments; Financial Reporting Solutions (Pty) Ltd.; Financial Software Group; FinArch; FRx Software Corporation; Fujitsu; Gcom2 Solutions; General Electric Company; Global Filings, Inc.; Grant Thornton LLP;


Haarmann, Hemmelrath & Partner; Hitachi; Hitachi System and Services; HOLT Value Associates; Hong Kong Society of Accountants; Hyperion Solutions Corp.; IBM; IBMatrix; IDW; I-Lumen, Inc.; Information Management Australia Pty Ltd; Infoteria Corporation; InnoData GmbH; Innovision Corporation; Institut der Wirtschaftsprüfer; Institute of Chartered Accountants in Australia; Institute of Chartered Accountants in England & Wales; Institute of Chartered Accountants in Ireland; Institute of Certified Public Accountants in Singapore; Institute of Chartered Accountants of New Zealand; Institute of Management Accountants; International Accounting Standards Board; International Federation of Accountants J.P. Morgan Chase; Japan Digital Disclosure Inc.; Japan Notary Organization; JISA (Japan Information Service Industry Assn); KPMG; KPMG Consulting; Lawson Software; Microsoft Corporation; Microsoft Great Plains Software, Inc.; MIP, Inc.;MIS Deutschland GmbH; Moody's Risk Management Services, Inc.; Morgan Stanley; Multex.com, Inc.; National Center of Charitable Statistics (NCCS); National Information Infrastructure Enterprise Promotion Association (Taiwan); Navision; NEC Planning Research, Inc. (Japan); NetLedger, Inc.; New River, Inc.; Newtec; Nihon Keizai Shimbun, Inc.; Oinke, Inc.; PCA Software; PeopleSoft, Inc.; PPA GmbH; Practitioners Publishing Company; PricewaterhouseCoopers; R.R. Donnelley Financial; Reuters Group LP; RIA; Sage Software; SAP AG; Seattle Pacific University Center for Professional Development; Software AG; Standard and Poor's; Syspro; Takara Printing; Teikoku Data Bank; The Woodburn Group; Thomson Financial; Tokyo Shoko Research; U.S. Census Bureau; XBRL Solutions, Inc.

ias taxonomy core fs narrative draft - · web viewtitle ias taxonomy core fs narrative draft...

Documents