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Introduction to XBRL: Lab 1 (2013S)

Introduction to XBRL: Lab 1 (2013S). Clinton E. White, Jr Professor of Accounting & MIS Lerner College of B&E University of Delaware. XBRL V.2.1 (April 2005). XBRL V.2.1: Written as an XML schema Specifies: A required structure for all XBRL documents

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Introduction to XBRL: Lab 1 (2013S)

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  1. Introduction to XBRL: Lab 1(2013S) Clinton E. White, Jr Professor of Accounting & MIS Lerner College of B&E University of Delaware

  2. XBRL V.2.1 (April 2005) • XBRL V.2.1: • Written as an XML schema • Specifies: • A required structure for all XBRL documents • A required set of elements & attributes • A language for creating taxonomies • A taxonomy framework

  3. XBRL V.2.1 • XBRL V.2.1 • XBRL Instance documents • Contain “facts” reported as values of well-defined financial reporting concepts • Each “fact” is contained within its own predefined XBRL “item” (a simple value) • XBRL Taxonomies • Define the concepts being reported as “facts” (items) in XBRL instance documents • Each concept is represented as an XBRL “item” and is defined in an XML schema in a namespace • us-gaap … ifrs … ixbrl …

  4. XBRL Instance Doc Structure • XBRL instance documents: • xbrlis the root element name (contains all necessary namespaces to support the instance document) • schemaRef element & a link to an applicable XBRL taxonomy schema • <link:schemaRefxlink:href=“applicable taxonomy schema”/> • context element containing an entityidentifier element & a period element • unit element containing a measure element (if reporting numeric items) • item reporting a numerical or non-numerical fact representing a predefined accounting concept

  5. XBRL Instance Documents • How would you express the following facts in an XBRL instance document? • Company name: MyBikes.com • Type of reporting: US GAAP C&I • See: http://xbrl.us/Pages/US-GAAP.aspx • Namespace: www.MyBikes.com (MBK) • Period: 2012-12-31 (end of the 4th quarter) • Facts (in USD): • Cash and cash equivalents = 893,000 • Short-term investments = 994,000 • Current receivables, net = 1,550,000 • Net inventories = 3,454,000

  6. XbrlShell2012.xml • http://www.buec.udel.edu/whitec/acct425/ • <?xml version="1.0" encoding="utf-8"?> • <xbrli:xbrl xmlns: > • <link:schemaRefxlink:type=" " xlink:href=" "/> • <xbrli:context id=" "> • <xbrli:entity> • <xbrli:identifier scheme=" "> </xbrli:identifier> • </xbrli:entity> • <xbrli:period> • <xbrli:instant> </xbrli:instant> • </xbrli:period> • </xbrli:context> • <xbrli:unit id=" "> • <xbrli:measure> </xbrli:measure> • </xbrli:unit> • <!-- Insert the XBRL items (facts) below --> • <item> • <item> • </xbrli:xbrl>

  7. Important URLs • XBRL financial reporting taxonomies: • http://www.xbrl.org/FRTaxonomies/ • XBRL US GAAP: • http://xbrl.us/ • http://fasb.org (FASB XBRL) • XBRL IFRS: • http://www.ifrs.org/XBRL/XBRL.htm

  8. Assignment(Due Sunday 4/7/2013) • Exercise 4-2 • A balance sheet & income statement in XBRL format (an instance document) • Include your name in a comment at the top of the document • <!--your name-->

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