XBRL Korea Domain Working Group
Primary Financial Statements (PFS), Financial Reporting for
Commercial and Industrial Entities (CI), Korean GAAP Taxonomy,
2004-01-19, Explanatory Notes (Public Working Draft)
Summary Taxonomy Information:
Status:
Public Working Draft, issued in accordance with XBRL International
Processes REC 2002-04-20.
Release Type;
Acknowledged, issued in accordance with XBRL International
Processes REC 2002-04-20
Date Issued;
2004-01-19 (Jan 19, 2004)
Issued by:
XBRL Korea Domain Working Group
Name:
Primary Financial Statements (PFS), Financial Reporting for
Commercial and Industrial Entities (CI), Korean GAAP Taxonomy
Description:
This financial reporting taxonomy is intended to provide detail level
accounting terms and reporting structures required by Korean GAAP
for commercial and industrial companies in order to tag financial
statements in XBRL.
Identifiers:
http://www.xbrl.org/taxonomy/korean/fr/gaap/ci/pfs/200401-19*
Recommended
namespace
prefix:
Korean-gaap-ci-pfs
Relation to Other
XBRL
Taxonomies:
This taxonomy references the Primary Financial Statements (PFS),
Financial Reporting for Commercial and Industrial Enterprises,
International Accounting Standards (IAS) XBRL taxonomy. The
Global Common Document taxonomy will be supplemented with the
PFS Taxonomy.
Physical Location
of Taxonomy
Package:
http://www.xbrl.org/taxonomy/korean/fr/gaap/ci/pfs/2004-0119/korean-gaap-ci-pfs-taxonomy.xsd (Schema)
http://www.xbrl.org/taxonomy/korean/fr/gaap/ci/pfs/2004-0119/korean-gaap-ci-pfs-taxonomy-references.xml (References linkbase)
http://www.xbrl.org/taxonomy/korean/fr/gaap/ci/pfs/2004-0119/korean-gaap-ci-pfs-taxonomy-labels.xml (Labels linkbase)
http://www.xbrl.org/taxonomy/korean/fr/gaap/ci/pfs/2004-0119/korean-gaap-ci-pfs-taxonomy-presentation.xml (Presentation
linkbase)
http://www.xbrl.org/taxonomy/korean/fr/gaap/ci/pfs/2004-0119/korean-gaap-ci-pfs-taxonomy-calculation.xml (Calculation linkbase)
http://www.xbrl.org/taxonomy/korean/fr/gaap/ci/pfs/2004-0119/korean-gaap-ci-pfs-taxonomy-definition.xml (Definition linkbase)
XBRL Korean Domain Working Group - Korean GAAP CI PFS
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* All the links are to be determined by XBRL international and they will include both the PFS
taxonomy and GCD Taxonomy.
Editors of this Document:
Sung-Sik Hwang, Samil PricewaterhouseCoopers
Dae Hyun Kim, XBRL Korea
Editors of the Taxonomy (listed alphabetically):
Dae Hyun Kim, XBRL Korea
Dae Young Kim, THE KOSDAQ STOCK MARKET INC
Dong-Lim Lee, The KOSDAQ STOCK MARKET INC
Euiwon Seo, Hyperion Solutions Corporation
Hee Seung Choi, LG Electronics Inc
Heung-Taek Lim, KOREA STOCK EXCHANGE
Hyun Chul Kim, Samsung SDS
Hyun S. Kang, Kyobo Life Insurance Co. Ltd.
In-Kook Lee, LG Electronics
Jae Soon Kim, Kookmin Bank
Jinsoo Chun, The KOSDAQ Stock Market INC
Jong Dae Jeon, Hyperion Solutions Corporation
Joo Hwan Song, KT
June-Seo In, KT
Ki Soo Kim, Kookmin Bank
Kyoung-Hoon Min, KOREA STOCK EXCHANGE
Min-Hwa Jeong, Korean Agency for Technology and Standards, MOCIE
Seokki Lee, Kyobo Life Insurance Co. Ltd.
Seungil(Stanley) Jung, Samil PricewaterhouseCoopers
Sim Yoon, Samsung SDS
Soon-Kook Chang, Samil PricewaterhouseCoopers
Sung-Sik Hwang, Samil PricewaterhouseCoopers
Tae-Sik Kim, Korea Accounting Standards Board
Woo-Don Lim, XBRL Korea
XBRL Korea Domain Working Group Chair:
Sung-Sik Hwang, Samil PricewaterhouseCoopers
XBRL Korean Domain Working Group - Korean GAAP CI PFS
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Abstract
This Taxonomy Documentation describes the eXtensible Business Reporting Language
(XBRL) based Korean Financial Reporting Taxonomy: KOREAN GAAP Commercial &
Industrial (KOREAN-GAAP-CI). The KOREAN-GAAP-CI Taxonomy has been prepared by
the XBRL Korea Domain Working Group, with feedback from other members of XBRL
International as well.
This KOREAN-GAAP-CI Taxonomy is compliant with the XBRL 2.0 Specification, dated 200112-14 (http://www.xbrl.org/tr/2001/). Specifically, the KOREAN-GAAP-CI Taxonomy
represents financial reporting details including the Balance Sheet, Income Statement,
Statement of Appropriations of Retained Earnings (Disposition of Accumulated Deficits) and
Cash Flow Statement used to create XBRL instance documents for commercial and industrial
companies.
This document assumes a general understanding of accounting terminologies and XBRL. If
the reader desires additional information relating to XBRL, the XBRL International web site
(http://www.xbrl.org) is recommended. In particular, a reading of the XBRL 2.0
Specification is highly recommended (http://www.xbrl.org/tr/2001/).
Terminology
The terminology used in this document frequently overlaps with terminology from other
disciplines. The following definitions are provided to explain the use of terms within the
XBRL knowledge domain.
Taxonomy
An XBRL Taxonomy is an XML Schema-compliant .xsd file that contains
XBRL elements, which are XML elements that are defined by XBRL-specific
attributes. An XBRL Taxonomy may also contain references to XLink
linkbases.
Instance
document
An XML document which includes one or more XBRL elements and
optional references to zero or more XLink linkbases.
Element
An XBRL element is a “fact” or piece of information described by an XBRL
taxonomy.
Linkbase
Linkbases provide additional information about XBRL elements, in
particular, relationships between them such as the relationship that
“Cash” is defined as part of “Current Assets.” Linkbases used by XBRL
are compliant with the World Wide Web Consortium’s (W3C) XML Linking
Language (XLink) Recommendation 1.0, 27 June 2001.
Table of Contents
ABSTRACT .......................................................................................................... 3
TERMINOLOGY ................................................................................................... 3
1.
OVERVIEW ................................................................................................. 5
2.
AUTHORITY................................................................................................ 5
3.
DTS STATUS ............................................................................................... 5
4.
SCOPE OF DTS ............................................................................................ 6
5.
OVERVIEW OF TAXONOMY ......................................................................... 7
6.
SAMPLES .................................................................................................. 10
7.
FEEDBACK ................................................................................................ 10
8.
INTELLECTUAL PROPERTY STATUS .......................................................... 10
9.
ACKNOWLEDGEMENTS ............................................................................. 11
1. Overview
5
10
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The XBRL Korea Domain Working Group is leading the development of this XBRL
KOREAN GAAP Commercial and Industrial (KOREAN-GAAP-CI) Taxonomy for the
purpose of expressing commercial and industrial companies’ financial statements
according to Korean Generally Accepted Accounting Principles (GAAP) and other
related/relevant accounting standards. The Korean Global Common Document (Korean
GCD) Taxonomy, which will used with the KOREAN-GAAP-CI Taxonomy is designed to
present entity information and document information that will include XBRL instance
documents of financial statements in accordance with the KOREAN-GAAP-CI Taxonomy.
This KOREAN-GAAP-CI Taxonomy is designed to facilitate the creation of XBRL instance
documents which reflect business and financial reporting for commercial and industrial
companies according to Korean GAAP.
The purpose of this and other taxonomies produced using XBRL is to facilitate data
exchange among applications used by companies and individuals as well as other
financial information stakeholders, such as lenders, investors, auditors, attorneys, and
regulators.
2. Authority
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The authority for this KOREAN-GAAP-CI Taxonomy is based upon Korean GAAP. The
development of the taxonomy is based upon input from accounting firms, technology
companies and other domain experts in the field of financial reporting. The Korean GCD
Taxonomy is referenced from the US GCD Taxonomy.
The disclosures in the KOREAN-GAAP-CI Taxonomy are:
1. Required by particular Commercial and Industrial Companies
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2. Typically represented in financial statements, checklists and guidance materials in
accordance with Korean GAAP.
3. Found in common reporting practice, or
4. Flow logically from items 1-3, for example, sub-totals and totals.
This KOREAN-GAAP-CI Taxonomy and GCD Taxonomy are in compliance with the XBRL
2.0 Specification, dated 2001-12-14 (http://www.xbrl.org/tr/2001/)
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3. DTS Status
The KOREAN-GAAP-CI Taxonomy and GCD Taxonomy are Acknowledged Public
Working Draft from the local perspective of Korea.
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This Korean GAAP Taxonomy draft has been developed, reviewed and finalized by the
members of XBRL Korea Domain Working Group. During the review process, an exposure
draft was released for one month and the comments from the public were considered and
reflected in this final draft. XBRL Taxonomies can exist in five states insofar as XBRL
International is concerned:

Working Draft – Draft of an International Working Group.
XBRL Korean Domain Working Group - Korean GAAP CI PFS
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
Unacknowledged - Developed externally but not royalty-free, or not known to
be specification compliant.

Acknowledged - Developed externally, compliant with the specification, and
minimally 'advertised' by XBRL International.

Approved - Acknowledged, and also complying with published best practices.

Recommended - Approved, and recommended because it is better than
alternative taxonomies for the same purpose.
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The following is a summary of levels of approval attainable within each state of
Taxonomy approval outlined above:

Internal Working Draft – Internal Working Draft version of a Taxonomy
exposed to XBRL International members for internal review and testing. An
Internal Working Draft is subject to significant changes as initial testing is
undertaken. Its structure may not be stable and its content may not be complete.

Public Working Draft – Working Draft version of a Taxonomy exposed to public
for review and testing. A Public Working Draft has been tested and its structure is
unlikely to change although its contents may still change as the result of broader
testing.

Final – Final version of a Taxonomy, designated by XBRL KOREA as the most
appropriate representation of a particular reporting environment.
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4. Scope of DTS
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This Taxonomy is the Primary Financial Statements (PFS) Taxonomy. The PFS Taxonomy
will commonly be used with the Global Common Document (GCD) Taxonomy.
PFS – Primary Financial Statements Taxonomy
The PFS Taxonomy encompasses the core financial statements which private sector and
certain public sector entities typically include in their annual financial reporting excluding
explanatory note disclosures as required by Korean GAAP
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Those primary financial statements are the:
1. Balance Sheet,
2. Income Statement,
3. Statement of Appropriations of Retained Earnings (Disposition of Accumulated
Deficits)
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4. Cash Flow Statement
GCD- Global Common Document Taxonomy
The GCD Taxonomy has been developed based on US GCD Taxonomy. It includes Entity
information, Document Information, Period Covered and other relevant data.
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XBRL Korean Domain Working Group - Korean GAAP CI PFS
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5. Overview of Taxonomy
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The major accounts which are included in the Balance Sheet, Income Statement,
Statement of Appropriations of Retained Earnings (Disposition of Accumulated Deficits)
and Cash Flow Statement are defined and created to standardize the Korean GAAP chart
of accounts.
The Korean GAAP had been developed based on Korean Financial Accounting Standards
(KFAS) until 1999. Since the establishment of the Korean Accounting Standard Board
(KASB) in 1999, which became the authoritative entity to develop Korean GAAP, several
Statements of Korean Accounting Standards (SKAS) have been issued by KASB to revise
and update the Korean GAAP as well as to replace existing KFAS.
From a technical perspective, the structures of the Korean GAAP Taxonomy are
developed considering the structures of the elements of specification 2.0, IAS and USGAAP Taxonomy.
90
From a GAAP perspective, the contents of the Korean GAAP Taxonomy are developed
considering KFAS and SKAS (Published through October 28, 2003), the Korean GAAP
Disclosure Check list, and IAS and US-GAAP
(1) Structure of Korean GAAP Taxonomy
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Primary financial statements consist of Balance Sheet, Income Statement, Statement of
Appropriations of Retained Earnings (Disposition of Accumulated Deficit) and Cash Flow
Statement. Taxonomy elements are created and their attributes are defined on these
primary financial statements.
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ID, Weight, Data Type, Name Space, Label, Ref, Name, Parent Name, Order, Balance
Type of each element are defined on the basis of Taxonomy Specification 2.0 editions.
Explanations for each attribute are as follows:
⒜ ID
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A unique number used as reference for each element, it is determined in a sequence
from “1”.
⒝ Weight
This refers to a weight given to each accounting element.
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115
Current assets consist of quick assets and inventories. If quick asset value is 100 and
inventories are 200, current asset value will be 300. Therefore, a +1 weight is given on
quick assets and inventories. On the other hand, net trade receivables consist of trade
receivables and allowance for doubtful account for trade receivables. So, a -1 weight is
given on the allowance for doubtful account for trade receivables because it is a
deductible account of trade receivables.
⒞ Data Type
Each element has its own data type.
XBRL Korean Domain Working Group - Korean GAAP CI PFS
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For example, cash and cash equivalents is measured by dollar or won. So the monetary
item type attribute is given. Outstanding shares is given the shares item type attribute.
⒟ NS (Name Space)
These are the name sets of created elements.
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Elements of primary financial statements will be assigned ‘pfs’ as a name space or an
element of company information may have the name space ‘ci’.
⒠ Label Default-Standard
This refers to the name of accounts used in accounting.
130
It assigns a name to each element such as, cash and cash equivalents and present value
discount for trade receivables.
⒡ Ref
This is a reference of elements such as:
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140
(1) KGAAP (Hierarchy)
① KFAS: Korean Financial Accounting Standards
② SKAS: Statements of Korea Accounting Standards
③ INT to KFAS: Interpretations to KFAS
④ ISAS-LEASE: Industry and Special Accounting Standards for Lease industry.
⑤ CASE for INT to KFAS: Case for Interpretations to KFAS
⑥ Opinion to SKAS
(2) KGAAP (Article)
This means an article of Korean GAAP
145
(3) KGAAP (Para)
This means a paragraph of Korean GAAP article
⒢ Name
This means a computer readable element name.
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Cash and cash equivalents will be assigned with the name ‘CashandCashEquivalents’.
These are created based on the FRTA specifications.
⒣ Parent Name
Each name is designed in a parent-child structure.
155
Cash and cash equivalents is a subordinate level of quick asset. So quick asset is
designed as a parent name of cash and cash equivalents.
XBRL Korean Domain Working Group - Korean GAAP CI PFS
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⒤ Description
Descriptions for each element are defined with reference to the relevant KFAS articles.
160
⒥ Order
All accounts are arranged in liquidity order.
165
For example, current assets is divided into quick assets and inventories. Quick assets
gets an order value of ‘1’ and inventories get an order value of ‘2’ based on the definition
of the KFAS liquidity order.
⒦ Substitution Group
Each element is classified by item, group and tuple.
When one element is composed of many sub-elements, we can make a group or tuple.
170
⒧ Balance Type
Balance type classifies accounts of financial statements as debit and credit. So asset
accounts are classified as debit and liabilities and stockholders’ equity accounts are
classified as credit.
175
(2)
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Contents of Korean GAAP Taxonomy
A. Balance Sheet
The structure of taxonomy is developed as described in the current KFAS. It is assumed
that most accounts have an absolute value. Weight is given to each account to make
validation possible.
Each element of the Balance Sheet is created based on the conceptual accounts of
Korean GAAP. Some accounts which no longer exist under the current effective GAAP are
also created for comparison purposes. For instance, deferred asset does not exist in the
current KFAS, but created under intangible assets. This position applies to other financial
statements as well.
B. Income Statement
The US-GAAP Taxonomy Framework and IAS Taxonomy Framework are both considered
for presenting the accounts of the Income Statement. The order starts from sales
account and ends with net income account.
C. Statement of Appropriation of Retained Earnings(Disposition of Accumulated
Deficits)
Two alternative approaches are considered to develop the structure of this statement.
First, the Statement of Appropriation of Retained Earnings and Statement of Disposition
of Accumulated Deficits are developed separately. Each element is individually made in
case those are duplicated in both statements.
XBRL Korean Domain Working Group - Korean GAAP CI PFS
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205
210
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As an alternative, the two statements are combined as one Statement of Appropriation of
Retained Earnings (Disposition of Accumulated Deficits).
The separate statement approach is adopted.
D. Cash Flow Statement
Korean companies in general do not follow a specific standard when they prepare a Cash
Flow Statement as they use their own account names, which therefore makes it difficult
to standardize the Cash Flow Statement account names. As a result, the defined
elements’ name derived from the Balance Sheet and Income Statement are used to
make the elements for Cash Flow Statement.
6. Samples
Five listed companies’ financial statements and related documents including XBRL
instance and original documents are submitted.
215
1. Links to sample instances;
Five XBRL instance documents attached
2. Links to sample taxonomy extensions;
Company-level taxonomy attached
220
3. Links to original reports from which samples have been derived
Five financial statements attached
4. Links to other explanatory materials which facilitate the use of the samples.
225
The following web site is referenced for an analytics program utilized to analyze listed
companies on the KOSDAQ Stock Market. It is designed from the NASDAQ project
benchmark:
http://www.kosdaq.com/xbrl/index.jsp?strFlag=null&lang=english&tickers
=043790&ticker=043790&action=company
230
7. Feedback
For any comments, questions or feedback, post comments to:
Dae Hyun Kim (dhk@cfokorea.org)
8. Intellectual Property Status
235
This document and translations of it may be copied and furnished to others, and
derivative works that comment on or otherwise explain it or assist in its implementation
may be prepared, copied, published and distributed, in whole or in part, without
restriction of any kind, provided that the above copyright notice and this paragraph are
included on all such copies and derivative works. However, this document itself may not
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XBRL Korean Domain Working Group - Korean GAAP CI PFS
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245
250
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be modified in any way, such as by removing the copyright notice or references to XBRL
International or XBRL organizations, except as required to translate it into languages
other than English. Members of XBRL International agree to grant certain licenses under
the XBRL International Intellectual Property Policy (www.xbrl.org/legal).
This document and the information contained herein is provided on an "AS IS" basis and
XBRL INTERNATIONAL AND KOREAN JURISDICTION DISCLAIM ALL WARRANTIES,
EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY WARRANTY THAT THE USE
OF THE INFORMATION HEREIN WILL NOT INFRINGE ANY RIGHTS OR ANY IMPLIED
WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
The attention of users of this document is directed to the possibility that compliance with
or adoption of XBRL International specifications may require use of an invention covered
by patent rights. XBRL International and Korean Jurisdiction shall not be responsible for
identifying patents for which a license may be required by any XBRL International
specification, or for conducting legal inquiries into the legal validity or scope of those
patents that are brought to its attention. XBRL International specifications are
prospective and advisory only. Prospective users are responsible for protecting
themselves against liability for infringement of patents. XBRL International and Korean
Jurisdiction take no position regarding the validity or scope of any intellectual property or
other rights that might be claimed to pertain to the implementation or use of the
technology described in this document or the extent to which any license under such
rights might or might not be available; neither does it represent that it has made any
effort to identify any such rights. Members of XBRL International agree to grant certain
licenses under the XBRL International Intellectual Property Policy (www.xbrl.org/legal).
9. Acknowledgements
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270
A tremendous effort has gone into creating this piece of intellectual property which is
being placed in the public domain by the XBRL Korean Jurisdiction for the use and benefit
of all. The XBRL Korean Jurisdiction and members of the XBRL Korea Domain Working
Group believe this cooperative effort will benefit all participants in the financial
information supply chain.
The XBRL Korea Domain Working Group would like to acknowledge the contributions of
the following individuals for their work in the creation of this taxonomy, and to their
respective organizations who provided the funds and time for their participation in and
support of this effort:
Name
Organization
Accounting Jurisdiction
Hwan-Kyun Park
Hyuk Goo Lee
Ik-Whan Oh
Jeong-Soo Suh
Jin-Bae Kim
Jong Kyoo Yoon
Ke Sig Lee
Kyung Ho Kim
Maing-Kee Lee
Sung-Bok Wee
Sung-Sik Hwang
Walter Hamscher
Young Soo Kwon
THE KOSDAQ STOCK MARKET INC
Hyperion Solutions Corporation
Kyobo Life Insurance Co. Ltd
KT
Korea University
Kookmin Bank
Samsung SDS
Korea Accounting Standards Board
KOREA STOCK EXCHANGE
Korea Association for CFO
Samil PricewaterhouseCoopers
Standard Advantage
LG Electronics Inc
Korea
Korea
Korea
Korea
Korea
Korea
Korea
Korea
Korea
Korea
Korea
United States
Korea
XBRL Korean Domain Working Group - Korean GAAP CI PFS
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