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 May 13, 2018 - May 19, 2018

US GAAP and IFRS Disclosures

I am trying to figure out a better organization of this information, this is the next iteration.

Here are 964 US GAAP disclosures and 389 IFRS disclosures from public company 10-K and 20-F filings to the SEC.  Where I have comparisons generated, you can see the number of examples for each disclosure colored in CYAN:

Here are the same disclosures, but the lists ONLY contain the disclosures for which I have created comparisons:

Here is the list of companies from which these disclosure examples were taken:

For more information see here: US GAAP | IFRS

Another seemingly useful thing to do is to compare specific US GAAP and IFRS disclosures.  For example,

Here are other viewers for checking out disclosures.  All of these are for US GAAP currently. 

Got any ideas to improve this information?  Got a better way to view disclosures? Send me your ideas and I will try and incorporate them.

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Posted on Saturday, May 19, 2018 at 09:34AM by Registered CommenterCharlie in | CommentsPost a Comment | EmailEmail | PrintPrint

Handful of IFRS-based Financial Reports Submitted to SEC

Here is a handful of IFRS-based reports that have been submitted to the SEC in the form of Form 20-F.  A 20-F is simiar to the Form 10-K in that it contains the annual financial statement:

These filings are a great way to learn about IFRS-based financial reports.

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Posted on Thursday, May 17, 2018 at 03:54PM by Registered CommenterCharlie in | CommentsPost a Comment | EmailEmail | PrintPrint

Lorem Ipsum Example, Process Automation Using XBRL

I created a prototype that many people might find rather goofy.  But, I created this Lorem Ipsum example using RAW XBRL and INLINE XBRL and INLINE XBRL WITH A VIEWER and described it in the document Process Automation Using XBRL for three specific reasons: (and here is a human-readable version of the validation results, all of this is a work in progress currently)

  1. Many people misinterpret XBRL believing that it is ONLY for representing financial information.  XBRL is actually domain agnostic and you can represent financial or non-financial information.
  2. Many people are still having philosophical debates as to how to best represent information and project biases about the best approach to use for specific information being represented based on what information they are representing. Another approach is to use approaches that are proven to work.
  3. Many people are over-focused on Inline XBRL, not recognizing that it is actually additional work.  I am showing that you can auto-generate Inline XBRL using raw XBRL.

What I am doing is simply taking this example and renaming the report elements to Lorem Ipsum text.  I have not changed all the XBRL Formula files yet.  I will leave it at this for the time being; I have additional work to do but this serves my current needs.

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This ZIP file has this example with five sets of dummy labels for different languages.

Posted on Wednesday, May 16, 2018 at 05:38PM by Registered CommenterCharlie | CommentsPost a Comment | EmailEmail | PrintPrint