Mai 17, 2006, Madrid
Managing the IFRS-GP Taxonomy
Josef Macdonald
IASC Foundation XBRL Practice Fellow
Overview of the IFRS-GP Extension
Framework, Versioning Issues and
Maintenance Considerations
Maciej Piechocki
Michal Piechocki
Harald Schmitt
IASC Foundation XBRL Team
Overview
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
Managing the IFRS-GP Taxonomy
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Background
IFRSs adoption: over 90 countries
XBRL adoption: 21 XBRL Jurisdictions
IFRS-XBRL Jurisdictions: 15
Global financial and business reporting standards
Transparent and independent
International Financial
Reporting Standards
IFRS-GP
Taxonomy
eXtensible Business
Reporting Language
Managing the IFRS-GP Taxonomy
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IFRS-GP Taxonomy: Contributors & Users
IFRSs
Strategy
Objectives
15 IFRS-XBRL
Jurisdictions
IFRS-XBRL
Mailing List
Projects, Feedback
Issues, Comments
Feedback
Issues, Comments
IASC Foundation XBRL Team
Issues, Comments,
New Technologies
Demo Projects
Institutions &
IFRS Jurisdictions
XBRL Consortium
Managing the IFRS-GP Taxonomy
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IFRS-GP: Development & Publication Process
IFRS Standards
Release
IFRS Requirements
IASCF / IASB
Initial Taxonomy
Drafts
Internal
Review & Validation
Issues & Comments
Issues & Comments
Taxonomy Update
Business
Entities
Review
Taxonomy
Release
Business Entities
IASCF XBRL Team
Managing the IFRS-GP Taxonomy
XBRL
TRP / TAP
XBRL Consortium
5
IFRS-GP Taxonomy: PFS & EDAP
XBRL
Global Common
Document
(GCD)
IASCF
Primary
Financial
Statements
(PFS)
Describes
Imports
Extends/
Limits
National
Extension
Accountant
Report
(AR)
IASCF
Explanatory
Disclosures &
Accounting Policies
(EDAP)
National
Industry
Extension
Industry
Extension
Extends
/Limits
Company
Extension
Entity
Instance
Document
Managing the IFRS-GP Taxonomy
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Overview
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
Managing the IFRS-GP Taxonomy
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Phase 1: Taxonomy Maintenance
Accounting Updates
Revisions 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 Updates
Modularisation of the Explanatory Notes Disclosure section
Address issues of taxonomy versioning:
Extension versus stand-alone version?
Managing the IFRS-GP Taxonomy
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IFRS-GP Taxonomy: Architecture
Managing the IFRS-GP Taxonomy
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IFRS-GP Taxonomy Modules Manager
Managing the IFRS-GP Taxonomy
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Overview
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
Managing the IFRS-GP Taxonomy
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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
Managing the IFRS-GP Taxonomy
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IFRS-GP Management:
Extension Framework
Issues
How 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
Solution
Extension Framework will foster the adoption of IFRS-GP
Guidance on how to build IFRS-GP extensions is required
A common extensions framework is required
Managing the IFRS-GP Taxonomy
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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
Managing the IFRS-GP Taxonomy
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IFRS-GP Management:
Translation
Taxonomy labels translation
Quality assurance required
Timing restrictions
Multiple label linkbases foster the adoption of the IFRS-GP Taxonomy
IP issues
Managing the IFRS-GP Taxonomy
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IFRS-GP Management:
Education & Guidance
New website launched February 2006
XBRL Library
XBRL Lab for new technologies
RSS I-TSI
XBRL News: main XBRL mailing lists
Issues, summaries, announcements
RSS feed
IFRS-GP Guidance Materials
Managing the IFRS-GP Taxonomy
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A Presentation by the IASC Foundation XBRL Team