Information Systems and Processes XBRL Formulae in a Nutshell Víctor Morilla VIII European Banking...
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Transcript of Information Systems and Processes XBRL Formulae in a Nutshell Víctor Morilla VIII European Banking...
![Page 1: Information Systems and Processes XBRL Formulae in a Nutshell Víctor Morilla VIII European Banking Supervisors XBRL Workshop Amsterdam November 2007.](https://reader036.fdocuments.us/reader036/viewer/2022081514/551514a8550346c77d8b4c85/html5/thumbnails/1.jpg)
Information Systems and Processes
XBRL Formulae in a Nutshell
Víctor Morilla
VIII European Banking Supervisors XBRL Workshop
Amsterdam
November 2007
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2INFORMATION SYSTEMS AND PROCESSES
Introduction
XBRL 2.1 provides different types of validation for instance documents:
–Basic XBRL validation–XML Schema validation–Calculation linkbase–XBRL Dimensions
These validations are not enough in most cases:–Basic arithmetic operations: product, division, …–Arithmetic comparisons: item A must be equal to item B, …–Checks for the presence of elements
Derivation of new facts from existing ones is not possibleXBRL Formulae is meant to fill the gap
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3INFORMATION SYSTEMS AND PROCESSES
Why a XBRL Formulae specification?
Requirements–Declarative language–Intuitive–Maintainable
–Extensible–Reusing existing standards
Business oriented
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4INFORMATION SYSTEMS AND PROCESSES
Brief history
June 2005: first public working draft of Formulae RequirementsNovember 2006: the Formulae WG is constituted with the following purpose:
–Documenting complex functional relationships between concepts at a definitional level–Deriving new XBRL facts from available XBRL information–Reporting messages describing the outcomes of formula execution–Reporting consistency of formulae with the available XBRL information
January 2007: first Formula PWD Specification publishedFebruary 2007: public survey on first PWDJuly 2007: second PWD adds
–Implicit filter–Dimensional filters
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5INFORMATION SYSTEMS AND PROCESSES
Parts of the XBRL Formulae specification
FormulaeVariables
Concept filterEntity filterScenario/segment filterTuple filterPeriod filterUnit filterDimensions filter
Generic labelsGeneric referencesXBRL FunctionsXBRL Functions RegistryW3C XPath 2.0
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6INFORMATION SYSTEMS AND PROCESSES
XBRL Formulae step by step
(x1, x2, x3, …, xn) y
y = (a + b) * cArithmetic expression
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7INFORMATION SYSTEMS AND PROCESSES
XBRL Formulae expression language: XPath 2.0
W3C Recommendation (since January 2007)Already supported by several toolsXPath 2.0 is an expression language:
Arithmetic expressionsComparison expressionsLogical expressionsConditional expressions…
Defines a set of standard operators and functions:+, -, *, div, mod, =, !=, <, >, and, or, …fn:abs, fn:ceiling, fn:floor, fn:concat, fn:upper-case, ……
Can call external functionsProprietaryXBRL Functions Specification: a set of predefined accessor functionsXBRL Function Registry
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8INFORMATION SYSTEMS AND PROCESSES
XBRL Formulae step by step
(x1, x2, x3, …, xn) y
y = (a + b) * c
a concept: CurrentAssets period: January 2005
entity: Dutch Bank
b concept: LongTermAssets period: January 2005
entity: Dutch Bank
c concept: RiskFactorperiod: January 2005entity: Dutch Bank
y concept: WeightedRiskAssetsperiod: January 2005entity: Dutch Bank
Variables and filters specification
Formula specification
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9INFORMATION SYSTEMS AND PROCESSES
Variables and filters
A variable is defined by a set of conditions: filtersConcept filterEntity filterScenario/segment filterTuple filterPeriod filterUnit filterDimensions filterValue filter
A filter can be relative to another variableb: period(a) - 1
A variable can be defined as a sequencey = sum(a)
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10INFORMATION SYSTEMS AND PROCESSES
XBRL Formulae step by step
(x1, x2, x3, …, xn) y
y = (a + b) * c
a concept: CurrentAssets period: January 2005
entity: Dutch Bank
b concept: LongTermAssets period: January 2005
entity: Dutch Bank
c concept: RiskFactorperiod: January 2005entity: Dutch Bank
y concept: WeightedRiskAssetsperiod: January 2005entity: Dutch Bank
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11INFORMATION SYSTEMS AND PROCESSES
Example instance document
Entity Period CurrentAssets LongTermAssets
RiskFactor
Dutch Bank January 2005 100.000 € 500.000 € 0.25
March 2005 150.000 € 600.000 € 0.33
May 2005 200.000 € 700.000 € 0.35
ACME Corp January 2005 55.000 € 20.000 € 0.50
March 2005 60.000 € 25.000 € 0.55
May 2005 70.000 € 30.000 € 0.60
… … … … …
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12INFORMATION SYSTEMS AND PROCESSES
Example formula evaluation
a (CurrentAssets) b (LongTermAssets) c (RiskFactor)Jan 2005 / Dutch Bank: 100.000€
Jan 2005 / Dutch Bank: 500.000€
Jan 2005 / Dutch Bank: 0.25
Jan 2005 / Dutch Bank: 100.000€
Jan 2005 / Dutch Bank: 500.000€
March 2005 / Dutch Bank: 0.33
Jan 2005 / Dutch Bank: 100.000€
Jan 2005 / Dutch Bank: 500.000€
May 2005 / Dutch Bank: 0.35
Jan 2005 / Dutch Bank: 100.000€
March 2005 / Dutch Bank: 600.000€
Jan 2005 / Dutch Bank: 0.25
Jan 2005 / Dutch Bank: 100.000€
March 2005 / Dutch Bank: 600.000€
March 2005 / Dutch Bank: 0.33
Jan 2005 / Dutch Bank: 100.000€
March 2005 / Dutch Bank: 600.000€
May 2005 / Dutch Bank: 0.35
Jan 2005 / Dutch Bank: 100.000€
May 2005 / Dutch Bank: 700.000€
Jan 2005 / Dutch Bank: 0.25
Jan 2005 / Dutch Bank: 100.000€
May 2005 / Dutch Bank: 700.000€
March 2005 / Dutch Bank: 0.33
Jan 2005 / Dutch Bank: 100.000€
May 2005 / Dutch Bank: 700.000€
May 2005 / Dutch Bank: 0.35
March 2005 / Dutch Bank: 150.000€
Jan 2005 / Dutch Bank: 500.000€
Jan 2005 / Dutch Bank: 0.25
March 2005 / Dutch Bank: 150.000€
Jan 2005 / Dutch Bank: 500.000€
March 2005 / Dutch Bank: 0.33
March 2005 / Dutch Bank: 150.000€
Jan 2005 / Dutch Bank: 500.000€
May 2005 / Dutch Bank: 0.35
… … …
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13INFORMATION SYSTEMS AND PROCESSES
Variable implicit filter
Implicit filter discards unwanted combinationsAll not explicitly filtered aspects of variables in a formula must match
Period Entity a (CurrentAssets)
b (LongTermAssets)
c (RiskFactor)
Jan 2005 Dutch Bank 100.000 € 500.000 € 0.25
March 2005 Dutch Bank 150.000 € 600.000 € 0.33
May 2005 Dutch Bank 200.000 € 700.000 € 0.35
Jan 2005 Acme Corp 55.000 € 20.000 € 0.50
March 2005 Acme Corp 60.000 € 25.000 € 0.55
May 2005 Acme Corp 70.000 € 30.000 € 0.60
… … … … …
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14INFORMATION SYSTEMS AND PROCESSES
Validations
The validation specification defines different kinds of validations:Assertions
CurrentAssets + LongTermAssets > 0Assets must be equal to Liabilities + Equities
Existence of factsTotalIncomes is reported
Formulae consistency checkThe calculated value of TotalAssets given the formulae:
TotalAssets = CurrentAssets + LongTermAssets
, must be consistent with the value reported in an instance document
To be included in the next working draft
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15INFORMATION SYSTEMS AND PROCESSES
Others
Documentation of formulae:Generic labelsGeneric references
Future developmentsFormulae chainingTemplate documents
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16INFORMATION SYSTEMS AND PROCESSES
Summary
Variables
Filters
Formulae
XP
ath
2.0
XPathStd Functions
XBRLFunctions
XBRLFunctionRegistry
Validation
Gen
eric
lab
els
an
d re
fere
nces
Other usagepatterns
Other specs
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17INFORMATION SYSTEMS AND PROCESSES
Next steps
Release of the next public working draftDevelopment of the conformance suiteRelease of the first candidate recommendation
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18INFORMATION SYSTEMS AND PROCESSES
How can I contribute?
-Use cases for the conformance suite:
-Taxonomy files-Input instance documents-Expected result
-Review of the specification-Transmit your interest in XBRL Formulae to your software vendors
Ask not what XBRL can do for youAsk what you can do for XBRL
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Information Systems and Processes
THANKS FOR YOUR ATTENTIONVíctor Morilla