Digital Financial Reporting

The following is a set of very basic XBRL-based financial report creation exercises.  The exercises start small and then grow in size.  Each exercise has been rigorously tested and are properly functioning Level 5 XBRL-based reports. Each exercises tests created report models and reports using the Seattle Method.

Each of these reports can be created using Luca which is a free cloud-based XBRL report creation tool, Pacioli import (see the link in the Pacioli documentation), or the XBRL creation software of your choice.  Each of these can be viewed and verified using Arelle which is free and open source but quite technical oriented

1. Accounting Equation: Luca | Pacioli | Base Taxonomy
2. SFAC 6: Luca | Pacioli | Base Taxonomy
3. Common Elements: Luca | Pacioli | Base Taxonomy
4. PROOF (partial): Luca | Pacioli | Base Taxonomy
5. MINI Financial Reporting Scheme: Luca | Pacioli | Base Taxonomy

After you have created each of the above reports, I would recommend that you read the document Essentials of XBRL-based Financial Reporting.

After that, have a look at this very basic report creation protototype. Then, extrapolate what you see to the creation of something like the Microsoft 10-K financial report.

After that, challenge yourself to create reports using one of the following base taxonomies below (which are on a different web site) by either editing the Excel import files above or creating new Excel import files:

• Very Basic Examples

More Advanced Challenge

Now, you should be ready to create your own XBRL-based financial report. You can edit the Excel import spreadsheets above, create new Excel import spreadsheets, enter information manually using Luca, import using Luca or Pacioli, or generate a report using the Luca API. 

You can use one of the Base Taxonomies above or the base taxonomy for the XASB financial reporting scheme below:

• XASB Financial Reporting Scheme (Auditchain): Base Taxonomy | All Resources
• XASB Financial Reporting Scheme (XBRL Site): Base Taxonomy | All Resources

There is a set of 10 XASB import Excel spreadsheets for different parts of the XASB report.

If you are even more ambitious, you might want to try creating an XBRL-based financial report using one of these financial reporting schemes (I would suggest staying away from the US GAAP and IFRS taxonomies at this point)