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Fiddling Around with Fundamental Accounting Concept Report Frames

I have been fiddling around with what I call report frames.  A report frame is a more flexible and expanded approach to making use of fundamental accounting concepts. In my initial approach, I had only one set of fundamental accounting concepts and I tried to fit every reporting entity into that one set.  Now I have 126 sets! Why so many now?  Because public companies report in different ways, using different "report frames".  This blog post explains the permutations/combinations which I have notices.

What this achieves is make the impute rules easier to understand and allows more flexibility.  Basically, there is not really one hierarchy, there are a number of different hierarchies.

You can get to the report frame index here. From there just click on the "count" to see the reporting entities which report a specific way.  Read the Description. For example, this is the most popular report frame:

CI, balance sheet CLASSIFIED, redeemable noncontrolling interest NOT REPORTED, cash flow statement NORMAL, income statement MULTI-STEP, income (loss) from equity method investments NOT REPORTED, operating income (loss) REPORTED

You don't need to understand the codes such as "COMID-BSC-RNIXX-CF1-ISM-IEMIX-OILY".  The code and the description say the same thing.

Stay tuned...more to come!

Posted on Friday, September 19, 2014 at 05:45PM by Registered CommenterCharlie in | CommentsPost a Comment

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