Managing the IFRS-GP Taxonomy Mai 17, 2006, Madrid Overview of the IFRS-GP Extension Framework,...
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Transcript of Managing the IFRS-GP Taxonomy Mai 17, 2006, Madrid Overview of the IFRS-GP Extension Framework,...
Managing the IFRS-GP Taxonomy
Mai 17, 2006, MadridMai 17, 2006, Madrid
Overview of the IFRS-GP Extension Overview of the IFRS-GP Extension Framework, Versioning Issues and Framework, Versioning Issues and
MaintenanceMaintenance ConsiderationsConsiderations
Josef MacdonaldJosef Macdonald IASC Foundation XBRL Practice FellowIASC Foundation XBRL Practice Fellow
Maciej PiechockiMaciej PiechockiMichal PiechockiMichal PiechockiHarald SchmittHarald Schmitt
IASC Foundation XBRL TeamIASC Foundation XBRL Team
2Managing the IFRS-GP Taxonomy
Background
IFRS-GP: Contributors & Users
Taxonomy Development & Publication Process
PFS & EDAP
Phase 1: Taxonomy Maintenance
IFRS-GP Taxonomy Update
Taxonomy Architecture
IFRS-GP Taxonomy Modules Manager
Phase 2: Taxonomy Enhancements
Extension Framework
Versioning Framework
Translations
Education & Guidance
Overview
3Managing the IFRS-GP Taxonomy
Background
IFRSs adoption: over 90 countries
XBRL adoption: 21 XBRL Jurisdictions
IFRS-XBRL Jurisdictions: 15
Global financial and business reporting standardsTransparent and independent
IFRS-GPTaxonomy
eXtensible Business Reporting Language
International Financial Reporting Standards
4Managing the IFRS-GP Taxonomy
IFRS-GP Taxonomy: Contributors & Users
XBRL Consortium
Issues, Comments, New Technologies
Institutions &
IFRS Jurisdictions
Demo Projects
15 IFRS-XBRL Jurisdictions
Projects, FeedbackIssues, Comments
IFRS-XBRL Mailing List
FeedbackIssues, Comments
IFRSsStrategy Objectives
IASC Foundation XBRL Team
5Managing the IFRS-GP Taxonomy
IFRS-GP: Development & Publication ProcessIFRS Standards
Release
IASCF / IASBInitial Taxonomy
Drafts
Internal Review & Validation
Taxonomy Release
IFRS Requirements
BusinessEntitiesReview
XBRLTRP / TAP
Taxonomy Update
Issues & CommentsIssues & Comments
Business Entities IASCF XBRL Team XBRL Consortium
6Managing the IFRS-GP Taxonomy
IFRS-GP Taxonomy: PFS & EDAP
XBRLGlobal Common
Document(GCD)
IASCFExplanatory
Disclosures &Accounting Policies
(EDAP)
IASCFPrimary
FinancialStatements
(PFS)
NationalExtension
IndustryExtension
NationalIndustry
Extension
CompanyExtension
EntityInstance
Document
Imports
Extends/Limits
Extends/Limits
Describes
AccountantReport(AR)
7Managing the IFRS-GP Taxonomy
Background
IFRS-GP: Contributors & Users
Taxonomy Development & Publication Process
PFS & EDAP
Phase 1: Taxonomy Maintenance
IFRS-GP Taxonomy Update
Taxonomy Architecture
IFRS-GP Taxonomy Modules Manager
Phase 2: Taxonomy Enhancements
Extension Framework
Versioning Framework
Translations
Education & Guidance
Overview
8Managing the IFRS-GP Taxonomy
Phase 1: Taxonomy Maintenance
Accounting UpdatesRevisions for 2005 IFRS amendments, new standards and interpretations (that is, standards approved by the IASB as at 1 January 2006)
Revisions for feedback received since May 2005 release
Technical UpdatesModularisation of the Explanatory Notes Disclosure section
Address issues of taxonomy versioning:Extension versus stand-alone version?
9Managing the IFRS-GP Taxonomy
IFRS-GP Taxonomy: Architecture
10Managing the IFRS-GP Taxonomy
IFRS-GP Taxonomy Modules Manager
11Managing the IFRS-GP Taxonomy
Background
IFRS-GP: Contributors & Users
Taxonomy Development & Publication Process
PFS & EDAP
Phase 1: Taxonomy Maintenance
IFRS-GP Taxonomy Update
Taxonomy Architecture
IFRS-GP Taxonomy Modules Manager
Phase 2: Taxonomy Enhancements
Extension Framework
Versioning Framework
Translations
Education & Guidance
Overview
12Managing the IFRS-GP Taxonomy
Phase 2: Taxonomy Enhancements
Restructuring the Taxonomy to simplify its use
Content additions, richer references, labels
Update Taxonomy for New XBRL Specifications (Dates subject to XBRL International release)
Preparers Guidance
Address issues of Versioning the Taxonomy
13Managing the IFRS-GP Taxonomy
IFRS-GP Management: Extension Framework
IssuesHow to build an extension of a 4000-elements, modularised IFRS-GP Taxonomy?
Multiple IFRS-GP Extensions are created by various jurisdictions, entities
Extensions should be compliant with the IFRS-GP Taxonomy
Users should know which extension to use and when
SolutionExtension Framework will foster the adoption of IFRS-GP
Guidance on how to build IFRS-GP extensions is required
A common extensions framework is required
14Managing the IFRS-GP Taxonomy
IFRS-GP Management: Versioning Framework
How to version modularised IFRS-GP Taxonomy?
How to version extensions of IFRS-GP Taxonomy?
Should new versions of the IFRS-GP Taxonomy be released as extensions or as stand-alone?
How to document versioning information (no solution so far)?
IFRS-GP Taxonomy Versioning Framework
15Managing the IFRS-GP Taxonomy
IFRS-GP Management: Translation
Taxonomy labels translationQuality assurance required
Timing restrictions
Multiple label linkbases foster the adoption of the IFRS-GP Taxonomy
IP issues
16Managing the IFRS-GP Taxonomy
IFRS-GP Management: Education & Guidance
New website launched February 2006XBRL Library
XBRL Lab for new technologiesRSS I-TSI
XBRL News: main XBRL mailing listsIssues, summaries,
announcementsRSS feed
IFRS-GP Guidance Materials
A Presentation by the IASC Foundation XBRL Team