Digital Financial Reporting

XBRL-based structured digital financial reporting

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Digital Financial Reporting Using XBRL

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This web site provides information on how to use XBRL to help business professionals exchange business information. Business information incluldes both financial and nonfinancial information. Everything on this site made available to all under a Creative Commons License, Public Domain Dedication. Everything may be reused however one sees fit without attribution. We do ask that you give credit where credit is due. If you have any questions, comments, concerns, suggestions, ideas or other feedback, please contact charles.hoffman@me.com.

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BLOG: Digital Financial Reporting

This is a blog for information relating to digital financial reporting. This blog is basically my "lab notebook" for experimenting and learning about XBRL-based digital financial reporting. This is my brain storming platform. This is where I think out loud (i.e. publicly) about digital financial reporting. This information is for innovators and early adopters who are ushering in a new era of accounting, reporting, auditing, and analysis in a digital environment.

Much of the information contained in this blog is synthasized, summarized, condensed, better organized and articulated in my book XBRL for Dummies and in the chapters of Intelligent XBRL-based Digital Financial Reporting. If you have any questions, feel free to contact me.

Entries from March 20, 2016 - March 26, 2016

Good Example of Usefulness of Extensions

Too many people say that financial statements need to be forms and that extensions will not work. This is not true. Here is a good job of what extensions offer:

(Click link to go to report income statement)

If you look at this income statement, the line item "Total net revenue" uses the US GAAP XBRL Taxonomy concept "us-gaap:SalesRevenueNet". The breakdown of revenue into "Mountain" and "Lodging" are extension concepts. "Real Estate" is from the US GAAP XBRL Taxonomy.

So what you get is the ability to compare across economic entities at the "Revenue" level. You get to compare the detail across periods for this specific economic entity. This filer is 100% consistent with the fundamental accounting concept relations.

This same idea can be used for any line item within a financial report. So, there is no need for financial reports to be static forms for the information to be useful.

Further, it is not unreasonable to infer that the extension concepts are some sort of revenue. The XBRL presentation relations infer this as well as the XBRL calculation relations. Sure, the fact that the extension concepts are in fact revenue can be made more clear by using an XBRL "general-special" relationship to show this explicitly.

Posted on Tuesday, March 22, 2016 at 09:58AM by

Charlie in Creating Investor Friendly SEC XBRL Filings |