Information about the taxonomiesand conditions for the review
period
Anders Persson
Thomas Holmgren
2017-06-12 7
About the presentation
• We will go through the following:
‒ XBRL, taxonomies and instance documents
‒ details about the 2017 taxonomies
‒ details about the K2 taxonomy (K2 is the Swedish
accounting category for small limited companies)
‒ the review period
2017-06-12 8
What is XBRL?
• EXtensible Business Reporting Language
• Open and licence free XML standard
• Reports in XBRL consist of:
‒ a taxonomy which defines content and rules
‒ an instance document containing ‘data’
2017-06-12 9
Instancedocument
Taxonomy
Report
What is a taxonomy?
• The taxonomy contains‒ definitions of terms
‒ content and structure for reports
‒ rules for reports
• The information can be used by both users and software.
• With the help of the taxonomy, XBRL-adapted software makes it possible to
‒ open and create instance documents for different kinds of reports, both Swedish and foreign.
2017-06-12 10
”A term should be defined so that the meaning can be understood without it being used in a context.”
What does a taxonomy contain?
• Term definition with expected data type, debit/credit and which period/closing day the data relates to
• Textual heading information which describes the term’s meaning and how the instance document should be created
‒ expected heading for each report
‒ the information can be in several languages
• Reference information about laws and other regulations in order to clarify the term’s definition as well as guide those creating the document
• Information about the content of the reports/interim reports in the form of which terms and headings are expected in the presentation
• Definition of summary controls
2017-06-12 11
ConceptsSchema
LabelLinkbase
PresentationLinkbase
DefinitionLinkbase
CalculationLinkbase
ReferenceLinkbase
What is an instance document?
• XML file of file type *.xbrl‒ an XBRL tool and taxonomy are needed in order
to have a readable presentation and to validate the content
‒ advantageous for M2M exchange if there are few requirements for visual presentation
• (x)HTML file with tagged data (iXBRL)‒ is readable in a normal web browser
‒ an XBRL tool and taxonomy are needed in order to make validation and machine readability of content possible
2017-06-12 12
About the 2017 taxonomies
• The taxonomies included in the PWD period
are:
‒ annual report for small limited
companies (accounting category K2)
‒ auditor’s report for K2
‒ annual report adoption certificate
• There is general information in Swedish and
links to the taxonomies on Bolagsverket’s
website:‒ http://www.bolagsverket.se/om/oss/samverkan/digital-ingivning
2017-06-12 13
About the 2017 taxonomies
• Based on guidelines and thinking from
the 2009 version
• Simplicity has been a key word
‒ simple to create
‒ simple to understand
2017-06-12 14
”Must be as simple as on paper. ”
Annual reports for small limited companies (category K2)• Prepared in accordance with the Swedish
Accounting Standards Board’s general guidelines about annual accounts for small companies (BFNAR 2016:10)
• Content requirements set through a cooperation between:
‒ the Swedish Accounting Standards Board
‒ the Swedish Companies Registration Office
‒ the Swedish Tax Agency
‒ Statistics Sweden
‒ Finansinspektionen, the Swedish financial supervisory authority
• Published on xbrl.taxonomier.se
2017-06-12 15
Auditor’s report for K2
• Prepared in accordance with:
‒ the Companies Act (2005:551)
‒ RevR 700 formation of auditor reports
‒ RevR 705 modified statements, notifications and
comments in the auditor’s report
‒ RevU 2 auditor’s reporting related to liquidations of
limited companies.
• Content requirements set by the Swedish
institute for the accountancy profession (FAR)
• Published on xbrl.taxonomier.se
2017-06-12 16
Annual report adoption certificate
• Prepared in accordance with chapter 8, section
3, paragraph 1 of the Annual Accounts Act
• Content requirements set by the
Swedish Companies Registration Office
• Published on xbrl.taxonomier.se
• Published on 15 June 2017
2017-06-12 17
About the K2 taxonomy
• The content and architecture of the new K2
taxonomy is to a large extent based on the 2009
version.
• Some of the alterations that have been done:
‒ content adjustments
‒ changes in the catalogue structure
‒ changes in summery controls
‒ tidying up of definitions of terms
‒ updating with new references
2017-06-12 18
Prepare the annual report
Vidareutnyttja fi
The company
Government authorities
K2 guidance
The Annual Accounts Act
The content of the K2 taxonomy
Changes from previous K2
• Administration report‒ Correction to equity
• same terms for opening and closing balance
• values recorded with different contexts (time frame)
‒ Change in equity• re-use of terms from the balance sheet with the same terms
for opening and closing balances
• values recorded with different contexts (time frame)
‒ Working capital• re-use of terms from the balance sheet
2017-06-12 20
Changes from previous K2
• Profit and loss statement and balance sheet
‒ addition of new terms
‒ removal of terms regarding contingent liabilities and
pledged assets
• Cash flow statement
‒ new interim report and is taken from previous
taxonomy
‒ need to read the standard heading in a number of
cases in order to grasp what is meant by
positive/negative value
2017-06-12 21
Changes from previous K2
• Notes (previously called additional information)‒ Divided into four parts:
• accounting principles
• extra information relating to the profit and loss statement
• extra information relating to the balance statement
• other information
‒ No summery controls in the notes
‒ Very few elements are debit/credit specific
‒ A field for comments for every note
2017-06-12 22
Changes from previous K2
• Signatures
‒ New field created for auditor’s signature
2017-06-12 23
Changes from previous K2
k2-r1 k2-r2 k2-r3 k2-r4 k2-r5 k2-r6 k2-r7 k2-r8 full
Company information * * * * * * * * *
Administration report * * * * * * * * *
Profit and loss statement * * * * *
Abbreviated profit and loss statement
* * * * *
Balance sheet * * * * *
Abbreviated balance sheet * * * * *
Cash flow statement * * * * *
Notes * * * * * * * * *
Signatures * * * * * * * * *
2017-06-12 24
• At present there is one comprehensive and eight detailed
reports for companies in the K2 accounting category.‒ should we have one comprehensive report or several detailed reports?
Important information about interpreting the taxonomy• Standard headings
‒ These are used in order to help clarify which expected value the instance document will contain, if the attribute balance(debit/credit) does not apply to a term.
‒ For example ”Increase (decrease) in reserve fund” implies that for an increase in the reserve fund there will be a positive figure in the instance document and if a decrease occurs, there will be a negative figure in the instance document.
‒ This means that the word in brackets is expected to represent a negative figure in the instance document.
• Important: the expected value in the instance document is not always the same as the one presented.
2017-06-12 25
The review period
2017-06-12 26
20182017 30 June31 March 30 September
Test period PWD
29 May – 13 August
Specifying
requirements
15 Dec – 9 April
Test period IWD
20 April – 7 May
Preview
K2 IWD
15 – 29 May
The PWD period comprises:• Annual report for small limited companies
(K2)• Auditor’s report • Annual report adoption certificate (16 June
2017)
FINAL 30
September
Launch meeting
PWD 30 May
The review period
• What are you expected to review and give feedback on?
‒ Content• content and structure are in line with the law and that no
important information is missing
• reference information, standard and/or documentation headings give a clear definition of the term
• correct debit/credit and instant/duration (closing day/period)
‒ Technology• element names keep to the name standard
• namespaces and naming file names
‒ General• summery controls are correct
• should we have several detailed reports orone comprehensive report in K2?
2017-06-12 27
The review period
• What material is available?
‒ The taxonomies published on public websites(and as ZIP files)
‒ HTML and Excel documentation about the content of the taxonomy
‒ General description of taxonomy
‒ Architecture description for K2 taxonomy, butis also applicable for the other taxonomies
‒ Example files, which will be updatedregularly
2017-06-12 28
The review period
• Where is the material?
‒ All the general information (in Swedish) and links will
be on Bolagsverket’s website initially: http://www.bolagsverket.se/om/oss/samverkan/digital-ingivning
‒ Information about the auditor’s report will also be available
on FAR’s website.
‒ In June, information about the taxonomies will move to
taxonomier.se
• Please note that the search path to the taxonomies and documents
will remain the same.
2017-06-12 29
The review period
• How should feedback be given?
‒ Questions and reports about errors can be sent to the
following addresses:
• regarding annual reports and the annual report adoption
certificate:
• regarding the auditor’s report:
‒ [email protected] / [email protected]
‒ Information from the PWD period and about the stage
leading up to the FINAL will be given at the beginning
of September.
2017-06-12 30
About Inline XBRL
Thomas Holmgren
2017-06-12 33
What does the presentation contain?
• What is iXBRL or Inline XBRL?
• The iXBRL examples
• Application of XBRL and iXBRL
2017-06-12 34
What is iXBRL or Inline XBRL?
• iXBRL or Inline XBRL is a ‘web page’ with a visual
presentation which contains tagged ‘XBRL data’,
which makes it machine readable.
• It is opened in a normal web browser and can
contain formatting which is specific to a user as
well as images/logos.
• It gives the possibility to change headings and add
information, such as notes, missing in the
taxonomy.
Additions are not processable by machine (as are not
tagged), just represented visually.
About the iXBRL examples
• There are three examples of annual reports in the iXBRLformat
‒ ’normal’ instance documents have been extracted from the iXBRL
• The examples have been collected together on one web page and contain information about file type, dates of updates and a short description.
• Further examples will be added if needed. For example depending on the questions we get.
Please note: examples should be viewed as early versions, i.e. they may be altered later.
2017-06-12 36
The web page listing iXBRL examples
2017-06-12 37
Application of XBRL and iXBRL
• Some application recommendations:
‒ Use a tool for XBRL/iXBRL in order to open and
validate instance documents.
‒ Allow time to build up an understanding of XBRL,
taxonomies and instance documents before you
start creating iXBRL files.
‒ An important basic principle is that the instance
document, i.e. the XML file, should primarily
contain positive values.
2017-06-12 38
How did I create my first iXBRL?
2017-06-12 39
3. Validate instance document
2. Create instance document
4. Create Inline XBRL
1. Map the taxonomy
Important information about application of iXBRL
• iXBRL makes it possible to choose your own design but all the resources, for example images or style sheets, must be imbedded in the file. This means that search paths to external resources are not allowed.
• Script is not allowed.
• Be aware that the iXBRL produced can be printed out in A4 so page breaks, etc. must be fixed.
2017-06-12 40
What needs to be tagged in an iXBRL?
• All the information that can be tagged should be tagged. This does not include additions which are not part of the taxonomy.
‒ notes have no summary controls for example, to aid this.
• iXBRL makes it possible to change headings for a term
‒ there may be requirements to tag terms with changed headings
‒ why? Everyone who is a consumer of the information by machine must be able to determine if the definition is correct.
2017-06-12 41
Changing the headings for terms in iXBRL
2017-06-12 42
The machine based interpretation remains ”Nettoomsättning” because the value is tagged with the term se-gen-base:Nettoomsattning.
Visually, the definition has changed to ”Skatt på åretsresultat”.
The user changes the heading for ”Nettoomsättning” (net sales) to ”Skatt på åretsresultat”(taxes).
About common terms for opening/closing balances
• Opening and closing balances should normally be the same term in a taxonomy.
• The previous year’s closing balance is the same as the current year’s opening balance.
• In the example above, data is recorded for three years with different contexts i.e. 2014-12-31, 2015-12-31 and 2016-12-31.
2017-06-12 43
About common terms for opening/closing balances
• In Inline XBRL we have applied the principle that both
the opening and closing balances are tagged.
2017-06-12 44
Application
Lastly,
• Version 0.1 of a guide containing guidelines and
tips about iXBRL will be coming out in the middle
of June
‒ Either as a document or as a FAQ (or perhaps both).
• For questions specifically about iXBRL/XBRL, you
can email us at: [email protected]
2017-06-12 45
Digital service for filing annual reports: conditions, test bench and service
specifications
Jonas Öhrnell
2017-06-12 47
Summary
‒ Architecture
‒ Service specifications
‒ Test bench
‒ Timetable
‒ Documentation
2017-06-12 48
Flow
CREATING FILING FOLLOW-UP
Basic data
Annual report
CreateExport to
iXBRLFile
Show
status
Filing of
annual report
Case status
Annual report
Limited company
ADMINISTRATION/PROCESSINGBOLAGSVERKET - INTERNAL
Signature
E-identification
Sign
electronically
Machine interface
Web pages
Topology
Software suppliers
Two-way
SSL + contract
Customers
System structure – division of responsibilities
Bolagsverket:• Build services for downloading basic data, report
filing, signing and showing case status• Distribute annual reports in the new data format
iXBRL• Build system support for administrative processing
of electronic annual reports
Software suppliers:• Design software for exporting annual reports to
the iXBRL format• Prepare infrastructure to convey traffic from
customers to Bolagsverket• Call up Bolagsverket’s server services • Utilise information from the services to offer new
functionality to customers
New services for annual reports
Basic data
Annual report
Filing
Annual report
Case status
Annual report
Signature
E-identification
- shows company name, representative, accounting periodand requirements for auditors for limited companies
- receive digital annual reports in iXBRL format, check theformat, return link to print-out page
- e-service (web pages with e-identification login) which shows filed annual report, signature with e-identification, checks against Bolagsverket’s register
- shows status for the limited company’s annual report: received, notices issued about corrections etc., registered, etc.
Service specifications
• Three services: • download basic data - company• filing of annual reports• download events - annual reports
• Bolagsverket is using OpenAPI 2.0 (Swagger 2.0) for the service specification – the formal decision has not yet been made. The choice is between OpenAPI and WSDL.
• HTTPS + JSON – certificate at both ends for connection
Service specifications - continued
• Documentation in Swedish at http://diar.bolagsverket.se
• Important: specification version 0.1 on 30 May – version 1.0 will arrive at the end of September
• Test bench will be ready on 30 June
MAY JUNE JULY AUG SEPT OCT NOV DEC JAN FEB MAR
29 May
Service specifications
version 0.1
30 September
Test bench + service
specifications version
1.0
14 August
Test bench + service
specifications version
0.5
Acceptance testing
period:
possible to test with
real certificates, etc.
30 June
Test bench
version 0.1
Review of service specifications
• Open API/Swagger has an editor: • Node JS• Local http server
• Can generate out of client and server for 10+ programming languages and several different frameworks for Java, etc.
Test bench
Test bench
Basic data
Annual report
File
Annual report
Case status
Annual report
Test data
Check
Annual report
• Bolagsverket is building a test bench to aid construction and system integration
• The test bench validates filed annual reports: format checks, register checks (if there are pending cases etc. )
• The test bench has the other services too so that system integration can be tested early on
Test bench - development• The test bench will be updated during the project
• Version 1.0 and finalisation of service specifications provisionally set for 30 September
• Ongoing possibility for help and feedback
Documentation
• For technical documentation in Swedish, go to http://diar.bolagsverket.se
• For general information about the project in Swedish, go to http://bolagsverket.se/om/oss/samverkan/digital-ingivning
Thank you for participating
www.bolagsverket.se/digital-arsredovisning
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