Concept Selection Basics - Workiva
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The contents of this presentation are confidential. Copyright 2016 Workiva. Concept Selection Basics June 9, 2016
Transcript of Concept Selection Basics - Workiva
The contents of this presentation are confidential. Copyright Ä 2016 Workiva.
Concept Selection Basics
June 9, 2016
Darek PaulukovichTeam Manager of Professional Services
Presenter
Legal Notice
The information contained in this webinar is for general informational purposesonly.ÄThe information is provided by Workiva Inc., and while we endeavor to keepthe information up to date and correct, we make no representations or warranties ofany kind, express or implied, about the completeness, accuracy, reliability,suitability, or availability with respect to the information, products, services orrelated graphics contained in the webinar for any purpose.ÄAny reliance you placeon this information is therefore strictly at your own risk. In no event will Workiva Inc.be liable for any loss or damage including without limitation, indirect orconsequential loss or damage, or any loss or damage whatsoever arising from loss ofdata or profits arising out of, or in connection with, your use of this webinar.
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Concept Selection Basics
Agenda
Ç Mapping principles
Ç Follow the US GAAP Taxonomy structure
Ç Making concept selections
Poll Question 1
When searching for a new tag where do you start?1. Ask my CSM
2. Use the search function in Wdesk
3. My PSM does all my new tagging
4. Go to the disclosure taxonomy section using the Taxonomy Analyzer
5. Look at what my peers are using
Poll Question 2
What do you consider most important when examining conceptsfor appropriateness?
1. Keyword search match
2. If my peer uses the same concept
3. Concept definition
4. The location of the concept in the taxonomy
5. Percentage used by all filers
Mapping Principles
Ä Capture ALL material amounts being reported (EFM 6.6.24)
Ä Do NOT exclude any material amounts being reported
(EFM 6.6.25)
Ä Choose the MOST specific concept available in the UGT
(EFM 6.6.26-28)
Ä Follow suggested attribute PRIORITY (EFM 6.6.29)
Mapping PrinciplesInclude everything
Ä Capture ALL material amounts being reported (EFM 6.6.24)Ä The definition of an element must include all material amounts
reported for the reported line item in the corresponding document
Ç The definition is an element's most important attribute and must beconsistent with the meaning of financial statements
Ç Definitions have limitations, so we should not base our choice onminor immaterial differences
Ç Other attributes of the concept should be considered
Mapping PrinciplesDo not exclude amounts
Ä Do NOT exclude any material amounts being reported
(EFM 6.6.25)Ä The concept must not be used if the definition explicitly exclude
one or more material amounts in the corresponding document
Ç Many concept definitions state that they "exclude" certain amounts
Ç Restructuring charges É "... Excludes expenses related to adiscontinued operation or an asset retirement obligation."
Mapping PrinciplesBe the most specific
Ä Choose the MOST specific concept available in the UGT
(EFM 6.6.26)Ä Choose the concept with the narrowest definition
Ç Several elements are closely related and even combinations witheach other
Mapping PrinciplesBe the most specific
Ä Choose the MOST specific concept available in the UGT
(EFM 6.6.26-27)Ä Choose the concept with the narrowest definition
Ç Several elements are closely related and even combinations witheach other
Ç Choose the concept with the most specific item type
Mapping PrinciplesBe the most specific
Ä Choose the MOST specific concept available in the UGT
(EFM 6.6.26-28)Ä Choose the concept with the narrowest definition
Ç Several elements are closely related and even combinations witheach other
Ç Choose the concept with the most specific item type
Ç Choose the concept with the most specific ASC reference
Mapping PrinciplesAttribute priorities
Ä Follow suggested attribute PRIORITY (EFM 6.6.29)Ç Period Type Å instant vs. duration
Ç Item Type Å monetary, shares, per share, etc.
Ç Documentation Å concept definition
Ç Label Å concept name
Ç References Å ASC referenceÇ Calculation relationships and presentation linkbases communicate how
elements are related to each other, but the element attributes above standingalone are definitive to communicating the reported disclosure
Poll Question 3
I feel confident when deciding whether or not to use axis & members.1. True
2. False
3. I don't know what axis and members are
Follow the US GAAP Taxonomy StructureLine items vs. dimensions
STOCKHOLDERSÄ EQUITYCommon Stock 89Paid-In Capital 8,302Retained Earnings 21,981Accumulated Other Comprehensive Income 497Treasury Stock, at cost (12,333)
Total StockholdersÅ Equity 18,536
Common StockPaid-InCapital
RetainedEarnings
Accumulated OtherComprehensiveIncome (Loss)
Treasury StockStockholdersÄ
EquityShares Amount Shares AmountBalance, December 31, 2015 1,754 $ 89 $ 8,302 $ 21,981 $ 497 (270) $(12,333) $ 18,536
Balance Sheetvs.Statement of Stockholders' Equity
Follow the US GAAP Taxonomy StructureLine items vs. dimensions
STOCKHOLDERSÄ EQUITYCommon Stock 89Paid-In Capital 8,302Retained Earnings 21,981Accumulated Other Comprehensive Income 497Treasury Stock, at cost (12,333)
Total StockholdersÅ Equity 18,536
Common StockPaid-InCapital
RetainedEarnings
Accumulated OtherComprehensiveIncome (Loss)
Treasury StockStockholdersÄ
EquityShares Amount Shares AmountBalance, December 31, 2015 1,754 $ 89 $ 8,302 $ 21,981 $ 497 (270) $(12,333) $ 18,536
Follow the US GAAP Taxonomy StructureLine items vs dimensions
STOCKHOLDERSÄ EQUITYCommon Stock 89Paid-In Capital 8,302Retained Earnings 21,981Accumulated Other Comprehensive Income 497Treasury Stock, at cost (12,333)
Total StockholdersÅ Equity 18,536
Each line item has acorresponding concept withno need for axis/members
Follow the US GAAP Taxonomy StructureLine items vs. dimensions
Common StockPaid-InCapital
RetainedEarnings
Accumulated OtherComprehensiveIncome (Loss)
Treasury StockStockholdersÄ
EquityShares Amount Shares AmountBalance, December 31, 2015 1,754 $ 89 $ 8,302 $ 21,981 $ 497 (270) $(12,333) $ 18,536
Each equity component isbroken out by [Member]
Follow the US GAAP Taxonomy StructureLine items vs dimensions
STOCKHOLDERSÄ EQUITY Line Item ConceptsCommon Stock 89 Common Stock, Value IssuedPaid-In Capital 8,302 Additional Paid in Capital, Common StockRetained Earnings 21,981 Retained Earnings (Accumulated Deficit)Accumulated Other Comprehensive Income 497 Accumulated Other Comprehensive Income (Loss), Net of TaxTreasury Stock, at cost (12,333) Treasury Stock, Value
Total StockholdersÅ Equity 18,536 Stockholders' Equity Attributable to Parent
Equity Components [Axis] Common Stock[Member]
AdditionalPaid-inCapital
[Member]
RetainedEarnings[Member]
AOCI Attributableto Parent[Member]
Treasury Stock[Member]
Common StockPaid-InCapital
RetainedEarnings
Accumulated OtherComprehensiveIncome (Loss)
Treasury StockStockholdersÄ
EquityLine Item Concepts Shares Amount Shares Amount
Stockholders' Equity Attributable toParent X $ 89 $ 8,302 $ 21,981 $ 497 X $(12,333) $ 18,536
Follow the US GAAP Taxonomy StructureLine items vs. dimensions
STOCKHOLDERSÄ EQUITY Line Item ConceptsCommon Stock 89 Common Stock, Value IssuedPaid-In Capital 8,302 Additional Paid in Capital, Common StockRetained Earnings 21,981 Retained Earnings (Accumulated Deficit)Accumulated Other Comprehensive Income 497 Accumulated Other Comprehensive Income (Loss), Net of TaxTreasury Stock, at cost (12,333) Treasury Stock, Value
Total StockholdersÅ Equity 18,536 Stockholders' Equity Attributable to Parent
Equity Components [Axis] Common Stock[Member]
AdditionalPaid-inCapital
[Member]
RetainedEarnings[Member]
AOCI Attributableto Parent[Member]
Treasury Stock[Member]
Common StockPaid-InCapital
RetainedEarnings
Accumulated OtherComprehensiveIncome (Loss)
Treasury StockStockholdersÄ
EquityLine Item Concepts Shares Amount Shares Amount
Stockholders' Equity Attributable toParent X $ 89 $ 8,302 $ 21,981 $ 497 X $(12,333) $ 18,536
Stockholders' Equity amount in both statements tagged the sameÄ
Ä
Follow the US GAAP Taxonomy StructureModeling basics
Ä Follow disclosure taxonomy structureÇ Follow taxonomy section related to the statement or footnote
disclosure being tagged
Ç Taxonomy section determines dimensional vs. non-dimensionalapproach
Ç Do not use line items when there is predefined axis/members foruse or vice versa
Making Concept SelectionsMarketable Securities Note
The Company recognized net realized gains of $1.1 million in 2016,$0.9 million in 2015, and loss of $0.3 million in 2014 from the saleof available-for-sale securities.
Making Concept SelectionsMarketable Securities Note
The Company recognized net realized gains of $1.1 million in 2016,$0.9 million in 2015, and loss of $0.3 million in 2014 from the saleof available-for-sale securities.
Making Concept SelectionsMarketable Securities Note
The Company recognized net realized gains of $1.1 million in 2016,$0.9 million in 2015, and loss of $0.3 million in 2014 from the saleof available-for-sale securities.
Poll Question 4
What is the best concept to tag net realized gains and losses onavailable-for-sale securities?
1. Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds
2. Available-for-sale Securities, Gross Realized Gain (Loss)
3. Available-for-sale Securities, Gross Realized Gains for the gain amounts andAvailable-for-sale Securities, Gross Realized Losses for the loss amount
4. I would like to further analyze each concepts details in the taxonomy
Making Concept SelectionsMarketable Securities Note
The Company recognized net realized gains of $1.1 million in 2016,$0.9 million in 2015, and loss of $0.3 million in 2014 from the saleof available-for-sale securities. Ä
Making Concept SelectionsDebt Note
The Company has a revolving credit facility that allows forborrowings up to $500 million.
Making Concept SelectionsDebt Note
The Company has a revolving credit facility that allows forborrowings up to $500 million.
Making Concept SelectionsDebt Note
The Company has a revolving credit facility that allows forborrowings up to $500 million.
Making Concept SelectionsDebt Note
The Company has a revolving credit facility that allows forborrowings up to $500 million.
Ä
Poll Question 5
Based on the debt disclosure taxonomy structure for Line of CreditFacility, should any axis/member be added to the concept?
1. Yes
2. No
3. I don't know
Making Concept SelectionsDebt Note
The Company has a revolving credit facility that allows forborrowings up to $500 million.
Making Concept SelectionsDebt Note
The Company has a revolving credit facility that allows forborrowings up to $500 million.
Concept Selection Basics Recap
Ä Mapping principlesÇ Start with the disclosure taxonomy
Ç Use the most specific concept considering the priority listing
Ç Pay extra attention to the concept definition
Ä Follow the disclosure taxonomy structureÇ Taxonomy section determines usage of axis/members
Ç Do not use line items when there is predefined axis/members foruse or vice versa
Ñ 2016 Workiva Company Confidential
Ç Are you concerned about your axis usage or the number ofextended axis?
Ç Have you wondered if your XBRL data is current with the 2016Taxonomy?
Ç Are you concerned about getting a Dear CFO letter in regards toyour XBRL?
Email [email protected] for a detailed overview.
Ñ 2016 Workiva Company Confidential
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Visit workiva.com/xbrltraining or email [email protected]
Upcoming 2016 dates and locations
Location Level I (basic/intermediate) Level II (intermediate/advanced)
Chicago August 23 August 24
Los Angeles September 13 September 14
Houston September 20 September 21
Philadelphia September 20 September 21
Questions
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