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Formula Linkbase Tutorial

Formula Linkbase Tutorial. David vun Kannon Phillip Engel KPMG LLP. Organization of the Tutorial. Morning Background and Motivation Afternoon Details of the current draft Implementation experience. Background. XBRL 1.0 Links inside schema

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Formula Linkbase Tutorial

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  1. Formula Linkbase Tutorial David vun Kannon Phillip Engel KPMG LLP

  2. Organization of the Tutorial • Morning • Background and Motivation • Afternoon • Details of the current draft • Implementation experience

  3. Background • XBRL 1.0 • Links inside schema • “rollup” element tried to capture definition, calculation and presentation data • XBRL 2.0 • External linkbases • Separate linkbases for different purposes • Allow override and extension

  4. A brief history Formula linkbase XBRL core specification • Version 1.0 – July, 2000 • Initial talks about rules and formulas – late 2001 • Version 2.0 – December, 2001 • Early prototype – Early 2002 • Formula linkbase Spec – August, 2002 Rulebase – October, 2002 Version 2.0a – November, 2002 FDIC Call Report Project Phase I – Early 2003 Version 2.1 – December, 2003 • Formula linkbase Spec– April, 2004 • New formula examples – October, 2004

  5. Motivation • Why are taxonomies important? • Why are external linkbases important? • What kinds of linkbases are there? • What are the failings of current linkbases?

  6. Taxonomies • Metadata exchange standard • Definition of concepts • Relationships among concepts • Metadata definitions • Reference parts, scenario, segment • Roles and arc roles

  7. External Linkbases • Extensible metadata • 3rd party linking

  8. Kinds of linkbases • Resource linkbases • Label linkbase • Reference linkbase • Relationship linkbases • Definition linkbase • Presentation linkbase • Calculation linkbase

  9. Failings • Calculation linkbase is… • Not cross context • Summation only • Cannot create values • Limited to concepts

  10. How to extend XBRL • New roles and arc roles, data types, etc. • New modules • New schemas?

  11. New roles and arc roles • Calculation linkbase enhancements • Product • Average • Min • Max • Sum • Count

  12. New Modules • New kinds of linkbases • New kinds of Taxonomies

  13. New schemas? • Shouldn’t be controversial • but they are! • GL?

  14. OTSOG • “If I have seen so far, it is because I have been standing on the shoulders of giants” --Sir Isaac Newton

  15. XBRL OTSOG W3C • XML Schema • XML Namespaces • XML Link • XML Base • XPath

  16. The Extension Process • Requirements Document • Modular Specification • Processing model • Conformance Suite • Two implementations • Approval and publication

  17. Formula Linkbase Requirements • Business driver • What problem are we trying to solve? • Technology requirements • How to leverage XBRL as it is commonly understood • Process driver • Move forward in an orderly way that enhances 2.1 without destabilizing it.

  18. Business Drivers • Metadata exchange about analytics. • Regulator to industry • Self-check • Analyst to client • Earnings models • “open source” analytics

  19. Technology Drivers • Using Taxonomies • Using schemas • Using linkbases • Using a Conformance Suite • Using the Infosets

  20. Process Drivers • Ensure XBRL 2.1 is viewed as adequate and stable. • Enhancement module is separate and separable. • Maintain the high quality of XBRL deliverables.

  21. FL Requirements PWD • Restart FL definition process using 2.1 • Spring 2004 - ?? • Latest version • In http://finance.groups.yahoo.com/group/xbrl-formula/files/ • Formula-Req-PWD-2004-04-20.doc

  22. FL Requirements PWD (2) • Use Cases • Requirements • Rejected requirements and use cases • Important! • Topics for other extensions to XBRL

  23. FL Use Cases -Business • Financial ratios • Validity checks • Consistency within a period • Consistency across periods • Reported vs. calculated data • Generate error messages • Generate debugging messages • Movement analysis

  24. FL Use Cases - Technology • Access all aspects of items and tuples in an instance. • All parts of the context • Unit • Precision or decimal • Create all aspects of items and tuples in an instance.

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