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Chapter 6. Current State of XBRL IFRS Taxonomy Discoverable Taxonomy Set Extension Taxonomies Validation of XBRL vs xml. Current State of XBRL. Who Must File. All companies are now required to file using XBRL Foreign Private Issuers are required to file using IFRS taxonomy.

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Chapter 6

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Chapter 6

Chapter 6

Current State of XBRL

IFRS Taxonomy

Discoverable Taxonomy Set

Extension Taxonomies

Validation of XBRL vs xml


Current state of xbrl

Current State of XBRL


Who must file

Who Must File

  • All companies are now required to file using XBRL

  • Foreign Private Issuers are required to file using IFRS taxonomy


Automating xbrl preparation

Automating XBRL Preparation

  • Fujitsu

    • Xwand

      • Taxonomy Creation

      • Instance Document Creation

      • Excel Mapping

  • Rivet

    • Crossfire & CrossView

  • CoreFiling

    • Sphinx

  • EDGAROnline

    • I-Metrix


Xbrl ifrs

XBRL IFRS


Ifrs instance document

IFRS Instance Document

  • Same structure as XBRL

  • Uses different taxonomy

    • Root element / namespace declarations

    • SchemaRef

    • Context

    • Unit

    • Items


Ifrs taxonomy

IFRS Taxonomy

  • 2011 Taxonomy Issued March 25, 2011

  • Compared to US GAAP, ~ 4000 elements vs. 15,000

  • Documentation is not included in IFRS (as it is NOT rule based).

    • Instead disclosures and example references are included


Illustrations of ifrs xbrl

Illustrations of IFRS XBRL

  • iXBRL (next week)

  • XBRL IFRS


Chapter 6

<?xml version="1.0" encoding="utf-8"?>

<!-- XBRL instance shell - Skip White December 2010 -->

<!-- File name: XBRLInstanceShell2010.xml -->

<xbrli:xbrlxmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns: _____1_________ >

<link:schemaRefxlink:type="simple" xlink:href= _____2_________ /> <xbrli:context id= _____3_________ >

<xbrli:entity>

<xbrli:identifier scheme= _____4_________ > _____5_________ </xbrli:identifier>

</xbrli:entity>

<xbrli:period>

<xbrli:instant> _____6_________ </xbrli:instant>

</xbrli:period>

</xbrli:context>

<xbrli:unit id= _____7_________ >

<xbrli:measure> _____8_________ </xbrli:measure>

</xbrli:unit>

<!-- Insert the XBRL items (facts) below --> </xbrli:xbrl>


Discoverable taxonomy set dts

Discoverable Taxonomy Set(DTS)


Dts what must be filed with sec

DTS – What must be filed with SEC

  • Contains:

    • Instance Document

    • Extension Taxonomy

    • Linkbases

      • Calculation

      • Definition

      • Labels

      • Presentation

    • All Imported Schemas

  • Filename Format

    • Identifier-yyyymmdd for instance and schema

    • Identifier_yyyymmdd_cal or _def or _lab or _pre


Extension taxonomy

Extension Taxonomy


Structure of sec extension taxonomy

Structure of SEC Extension Taxonomy

  • Schema Root Element, namespace declarations

  • annotation/appinfo

    • link:linkbaseRef

      • Links all the linkbases to the schema document

    • link:roleType

      • Links each statement and disclosure to the linkbases


Link linkbaseref international speedway corp 10q

link:linkbaseRef(International Speedway Corp 10Q)

  • <link:linkbaseRefxlink:type="simple" xlink:href="isca-20110531_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Calculation Links, all"/>

  • <link:linkbaseRefxlink:type="simple" xlink:href="isca-20110531_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Presentation Links, all"/>

  • <link:linkbaseRefxlink:type="simple" xlink:href="isca-20110531_lab.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"/>

  • <link:linkbaseRefxlink:type="simple" xlink:href="isca-20110531_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Definition Links, all"/>


Link roletype international speedway corp 10q

link:roleType (International Speedway Corp 10Q)

  • <link:roleTyperoleURI="http://internationalspeedwaycorporation.com/role/BalanceSheetsParenthetical" id="BalanceSheetsParenthetical">

  • <link:definition>0111 - Statement - Consolidated Balance Sheets (Unaudited) (Parenthetical)</link:definition>

  • <link:usedOn>link:presentationLink</link:usedOn>

  • <link:usedOn>link:calculationLink</link:usedOn>

  • <link:usedOn>link:definitionLink</link:usedOn>

  • </link:roleType>


Extension element international speedway 10q

Extension Element (International Speedway 10Q)

  • <element id="isca_PrepaidExpensesAndOtherCurrentAssets" name="PrepaidExpensesAndOtherCurrentAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" xbrli:balance="debit"/>


Xbrl validation

XBRL Validation


Xbrl validation levels

XBRL Validation Levels

  • Phase I

    • xml validation (NOT XBRL)

      • Schema validation – does the xml match the schema structure?

  • Phase II

    • Validates XBRL semantics in DTS

      • Requires specialized software ($’s)

  • Phase III

    • Validates XBRL based on reporting rules

    • SEC XBRL filing requirements

      • Requires specialized software ($’s)


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