The US GAAP and Risk/Return Taxonomies: The taxonomies ... statement with its
own unique “XBRL tag” or concept. ... to a US GAAP XBRL concept, such.
As required by the U.S. Securities and Exchange Commission
eXtensible Business Reporting Language (XBRL)
A computer language that provides a standardized way for data to be reported and categorized XBRL is an open, global standard for exchanging business information XBRL is an extension of XML
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XBRL consists of:
Instance Document: Contains the business facts being reported. Taxonomy: Defines metadata about facts, such as what the facts mean and how they relate to one another. The US GAAP and Risk/Return Taxonomies: The taxonomies attempt to provide each line item and footnote in a financial statement with its own unique “XBRL tag” or concept.
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eXtensible Business Reporting Language (XBRL)
Per Rule Release No. 33-9002, "Interactive Data to Improve Financial Reporting“ states that as of June 2011, all public companies and foreign issuers regulated by the SEC will be required to submit financial statements to the SEC in XBRL format (in addition to standard HTML or ASCII formats) Rule Release 33-9006 states that after January 1, 2011, open-end registered investment companies ("mutual funds") will be required to submit XBRL for their risk/return information on new registration statements and annual post-effective amendments (in addition to standard HTML or ASCII formats) SEE SEC OVERVIEW AT: http://www.sec.gov/info/edgar/edgartaxonomies.shtml
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Timing
Submissions
Form Types
Corporate Filers Year 1: as of June 15, 2009 Large Accelerated Filers with public float >$5B (~500 companies) Year 2: as of June 15, 2010 All Large Accelerated Filers with public float > $700M (~1,000 companies) Year 3: on June 15, 2011 All Filers with public float under $700M and Foreign Filers (~8,700 companies)
Supplement to HTML/ASCII Year 1 filers: face financials and notes/ schedules tagged as block text Year 2 filers: face financials and detailed notes 30 day grace period for each filing tier for the first filing only
10, 10/A, 10-K, 10-K/A, 10-Q, 10-Q/A 20-F, 20-F/A, 40-F, 40-F/A 6-K, 6-K/A, 8-K, 8-K/A F-1, F-1/A, F-10, F-10/A, F-3, F-3/A, F-4, F-4/A, F-9, F-9/A POS AM S-1, S-1/A, S-11, S-11/A, S-3, S-3/A, S-4, S-4/A
Open-ended Registered Investment Companies (Mutual Funds) January 1, 2011 open-end registered investment companies ("mutual funds“)
Supplement to HTML/ASCII Submit risk/return information on new registration statements and annual posteffective amendments The amendment must be submitted after the registration statement or posteffective amendment that contains the related information becomes effective but not later than 15 business days after the effective date of that registration statement or post-effective amendment
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485BPOS, 497
The US GAAP XBRL taxonomy is a catalog of tags used to label data in the XBRL format Companies must map each financial statement line item to a US GAAP XBRL concept The "extensible" part of XBRL allows for the creation of company-specific tag extensions for those line items not included in the standard taxonomy
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Similarly to the US GAAP XBRL taxonomy, the Risk Return XBRL taxonomy is a catalog of tags used to label data in the XBRL format Open-end registered investment companies ("mutual funds") are required to submit their risk/return information on new registration statements and annual post-effective amendments
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Dates in column headers are defined as an instant or duration
Each Each numerical numerical value value in in Each numerical value is the the columns columns are are tagged tagged tagged as part of the as as part part of of the the instance instance XBRL instance document document document
Line items are mapped to an XBRL concept
If line items cannot be mapped to a US GAAP XBRL concept, such as this one, an extension concept is created
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Line items are mapped to an XBRL concept
Definition of US GAAP XBRL concept for Net sales
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If line items cannot be mapped to a US GAAP XBRL concept, such as this one, an extension concept is created
Definitions for extension concepts are also created, such as this one
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Notes to the financial statements must also be tagged in XBRL
Notes must be mapped to an XBRL concept and contain a definition
NOTE: Similar to line items in a financial statement, if there is no US GAAP concept that matches a note to the financial statement an extension concept can be created. See page 8 for an example extension concept.
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Example of an extended financial note
NOTE: Second year filers have to perform detail tagging of their notes to the financials.
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Example of parenthetical information that must be tagged as a separate table
Example of parenthetical information displayed in its own table that corresponds to the main Consolidated Balance Sheet table Note that the values in the parenthetical table match those pulled from the consolidated balance sheet
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NOTE: The XBRL document on the right must contain the same ordering, row names, and facts as the HTML document on the left An Introduction to XBRL: - Page 14
Risk Return Summaries are tagged in a similar fashion to corporate filings. The number of XBRL tags in the US GAAP taxonomy is approximately 18,000 concepts, whereas the number of XBRL tags in the Risk/Return taxonomy is around 400 concepts.
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CompSci Resources, LLC was founded in 1997 and has been a member of XBRL US since 2006, as well as an active member of various XBRL International working groups. CompSci develops, sells, and supports the world's best-value commercial-grade XBRL product suite. Currently being used by financial printers, filing agents, mutual fund administrators, accounting firms, law firms, and publicly traded companies, CompSci’s XBRL solutions offer organizations superior service with cost-effective, state-of-the-art technology. Visit www.compsciresources.com. CONTACT: Ron Lord 1+703-584-7178
[email protected]
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XBRL US Members since 2006
