Blog: Financial Reporting Using XBRL - Comments

Geoff Shuetrim comments on Top 10 Errors to Avoid in Creating Your SEC XBRL Filings

Geoff Shuetrim — Tue, 01 Dec 2009 00:21:55 +0000

It is interesting how helpful the information about frequency of concept usage is in driving mappings of taxonomies to underlying data sources. The stats you present are only the tip of the iceberg here.

Hopefully mapping tools will quickly start doing their own statistical analysis (perhaps even by industry) of existing filings for both concept and dimension usage, when deciding how to guide users through the maze that is XBRL taxonomies today.

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NW comments on Occurance of Fact Values in SEC Filings

NW — Thu, 26 Nov 2009 18:29:33 +0000

To address the fiscal period issue should there be a fiscal concept be reported in the instance or perhaps be a dimension of the context.

Is there a concept with USGAAP that indicates what teh fiscal year is for a particular entity?

Nick Topazio comments on Issue Relating to: Effect of Exchange Rate on Cash and Cash Equivalents

Nick Topazio — Wed, 25 Nov 2009 09:44:48 +0000

I hope that this is not an example of the tail wagging the dog. XBRL is a reporting tool and should not constrain valid reporting techniques. It is the role of standard-setters, preparers, auditors and the capital markets to set, follow, check and influence company's financial reporting practices.

Whether the presentation adopted by the 8 is optimal or not is open to question but the answer should not be derived from the ease of preparation of the XBRL reports.

To be fair, I do not think that this is where your post is heading but there may be some that think this way. However, I do believe that XBRL does have an important role to play flagging up these inconsistent reporting practices which as a result of XBRL will be more easily spotted.

Nick Topazio
Chartered Institue of Management Accountants
See my blog at http://community.cimaglobal.com/node/21380

Scott comments on A Thought Experiment: Understanding XBRL Instances

Scott — Tue, 17 Nov 2009 03:14:23 +0000

Very useful post and enumeration of several real-life issues that need to be tackled. We've had to address several of these (entity, period and unit conflicts, standard metadata and interface) given data collection across more than 100 countries, although we haven't always done so through XBRL (or IFRS). Hopefully it will be easier to find XBRL solutions for these as adoption increases and others encounter the same issues.

Conciant comments on "The SEC, they totally get it."

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Shortcuts to Internet Millions comments on The Business Rules Manifesto

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Eugene W comments on Notion of Flow

Eugene W — Wed, 08 Jul 2009 02:30:16 +0000

This is exactly what I did, facing the same issue last year. My convention was to use the "nameless" default Extended Link to assemble the report (I don't think "flow" is the right word - at least to me it means workflow). All other Extended Links were named. Also, it does not necessarily have to be a hierarchy of Schedule's - if you used the root Abstract concept from each Extended Link, it could work, too.

Kosal comments on XBRL Instance Graphic

Kosal — Wed, 24 Jun 2009 09:09:43 +0000

In addition to context and unit, how is footnotes incorporated in instance document? (e.g., in terms of XML code)