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XASB Reporting Scheme (Existing Current Prototype)

This is an overview of what I call the XASB Reporting Scheme.  This is an imaginary reporting scheme which I am using to figure out the best technical approach to created an architecture for representing XBRL-based financial reports.  This is primarily to test financial reports but it is appropriate for general business reports also since a financial report is simply a rather complex business report.

I created this imaginary reporting scheme so that I could be completely unconstrained by the US GAAP XBRL Taxonomy and IFRS XBRL Taxonomy in figuring out the best approach to use.  The information below documents the existing prototype.

I will be updating this XASB reporting scheme based on some ideas from the European Single Electronic Format over the coming months. Ultimately, information from this prototype reporting scheme will make its way into the General Business Reporting XBRL Application Profile which Rene van Egmond and I have been maintaining.

You can view the information in each linked XBRL file in any off-the-shelf XBRL tool.  There are two software applications that leverage this metadata:  Pesseract which is a non-commercial but very comprehensive proof of concept and XBRL Cloud which is commercially available software.

Sample report: This XBRL instance for a sample economic entity reporting using the XASB reporting scheme is provided. This XBRL taxonomy for the BASE taxonomy and the COMPANY taxonomy are provided but NOTE that these taxonomies are not modularized correctly currently. (NOTE that neither the BASE or COMPANY taxonomy are modularized as I would deem appropriate currently.  These will be recast to be far more similar to the way XBRL-based reports are submitted to the SEC.  The current modularity is only for the convenience of the tools that I had to use to create the XBRL taxonomies.

Information extraction: This Excel spreadsheet is used to extract information from XBRL-based financial reports which are submitted to the SEC.  I want to create a similar tool that works for the XASB reporting scheme.  Here is the Excel spreadsheet that extracts information from an XASB reporting style reportThere is a wealth of information that can be gleaned from comparing these two extraction tools.

Repository: To test the ability to extract information from an XBRL instance created using the XASB reporting scheme, I created three additional XBRL instances by copying the the origional and then changing the file names, namespaces, and other information to make the XBRL instances and XBRL taxonomies unique.  The only data that is different is the entity name in each document.  Here is that prototype repository that contains four financial reports. (same thing in RDF format)

One significant difference between the XASB reporting scheme and the SEC and ESMA use of XBRL is that 100% of mathematical relations in an XBRL instance using the XASB reporting scheme are described and therefore can be valiated against business rules, generally XBRL formulas (GAAP and COMPANY).

Finally, the architecture above is driven by the desire to create a provably correct XBRL-based financial report as outined in the document Blueprint for Creating Zero-defect XBRL-based Digital Financial Reports. Further, it is driven by the desire to create a repeatable process for verifying such reports.

Here are actual validation results from XBRL Cloud: Disclosure mechanics and reporting checklist; Evidence package; Fundamental accounting concept relations for XASB currently exist only in newer format, need to create older version which XBRL Cloud supports; Type or class relations not currently supported by XBRL Cloud.

(Note that I have been maintaining and improving this XASB Reporting Scheme since about 2005.  The earliest publicly available version of this that I could find is this from 2008 which when what I now call the general profile was called XBRLS. The earliest private version of this was called 'Sample GAAP' and was from about 2006.)

Posted on Thursday, December 28, 2017 at 07:01AM by Registered CommenterCharlie in | CommentsPost a Comment

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