Chapter 6
Download
1 / 18

Chapter 6 - PowerPoint PPT Presentation


  • 102 Views
  • Uploaded on

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.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' Chapter 6' - chaka


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
Chapter 6

Chapter 6

Current State of XBRL

IFRS Taxonomy

Discoverable Taxonomy Set

Extension Taxonomies

Validation of XBRL vs xml



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



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


<?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>



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



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 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)


ad