Transcript XBRL Advisory Council meeting

March 2009
International Accounting Standards Committee Foundation XBRL team
XBRL Versioning for
IFRS Taxonomy
22 June 2009, FINREP
Haiko Philipp
IASC Foundation
The views expressed in this presentation are those of the presenter,
not necessarily those of the IASC Foundation or the IASB
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
Agenda
• Versioning at the IASCF
• Versioning specification
• Versioning report syntax / semantics
• Versioning approach for the IFRS
• Implementation aspects
• Challenges and next steps
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
2
Versioning at the IASCF
• Background: annual update of the IFRS
Taxonomy resulting from the changes in the
written Bound Volume of IFRSs
• Enhancements to the change management and its
standardized communication necessary
• Discussions about versioning at IASCF since
2004
• Resulted in a prototype presented in 2006
• Prototype and feedback on it were input for the
versioning WG
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
3
Versioning at the IASCF
• Project objective: enhance change management
• IFRS Taxonomy consumers:
•
More transparent development process (easier comparison)
•
Represents taxonomy developer view on the changes (explanation of changes)
•
Enables grouping and filtering of changes
• Software developers
•
Standardized way of communication of taxonomy changes (former proprietary
software)
•
Possibility of automated consumption of versioning report
•
Enables statistics
• XBRL tools:
•
Better workload estimation while migrating between taxonomy releases
•
Semi-automated integration of new taxonomy release
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
4
Versioning specification
• XBRL Versioning Specification is an extension of
the base specification for XBRL 2.1
• Versioning specification currently a Public working
draft – syntax may change
• On the way towards candidate recommendation (last
call for comments from XSB)
• Versioning report published for IFRS Taxonomy
2008 –> 2009 on 28 April 2009
• Based on the Public Working Draft from 04 February
2009
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
5
Versioning specification
• Purpose of the versioning report is to document
differences between two taxonomies
• Interest in semantic changes rather than syntactical
changes
• Benefits / advantages
• Users should better understand changes made
• Tracking / documenting changes by taxonomy developer
• Enable automated processing - XBRL is used in
production today
• Taxonomy extensions development
• Tools using taxonomy or its extensions
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
6
Versioning report syntax / semantics
• Versioning report is divided into three major building
blocks
• Categories: classification of an assignment
• Default categories: Errata, business, technical
• Assignments: represent a versioning task
• Enable documentation through labels and references
• Enable classification through links to categories
• Enable breakdown into individual actions
• Actions: represent one or more changes using single or
combined events
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
7
Versioning report syntax / semantics
8
• Events on concepts
• Events on relationships
• Events on resources
• Concept add
• Relationship add
• Resource add
• Concept delete
• Relationship delete
• Resource delete
• Concept name
• Relationship next
• Resource value
• Concept type
• Relationship previous
• Resource role
• Concept substitution
group
• Relationship addattribute
• Resource add-attribute
• Concept period type
• Relationship deleteattribute
• Concept add-attribute
• …
• Relationship changeattribute
• Resource delete-attribute
• Resource changeattribute
• Resource add-child
• …
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
Versioning report syntax / semantics
Versioning report
Generic label linkbase
(documentation)
Category:errata
Assignment: myTask
link:locator
gen:arc
Action: myAction
Event: Concept Add
Event: concept delete
Event: resource value
…
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
label:label
…
9
Versioning approach for the IFRS
• Where are IFRS Taxonomy changes coming from?
• Physical / structural changes
• Changed file and folder names, updated
namespaces, role URIs
• New technologies: XBRL dimension (new schema
definitions)
• Semantic changes
• Updated, deleted and new IFRSs
• Taxonomy improvements (typos, reference
updates,...)
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
10
Versioning approach for IFRS
• Versioning report for IFRS
– Categories: use default categories only
– Default categories: errata, business, technical
– Assignments: objective is keep assignments stable
over a period of time
– Definition of major tasks like “OutOfDateIFRSs”,
“WordingImprovements”, …
– Actions: focus on concepts (one Action per one
concept)
– Concepts are currently crucial for stakeholders
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
11
Versioning approach for IFRS
Versioning report
Linkbase (documentation)
Category:businessCategory
Assignment: OutOfDateIFRSs
Link:locator
Gen:arc
Action: del_BusinessSegments
Event: concept delete
label:label
Action: del_DisclosureOf
SegmentReportingExplanatory
Event: concept delete
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
Out of date IFRSs
12
Versioning approach for IFRS
• Versioning report approach used for IFRS:
• Light versioning report
• Comprehensive versioning report
• Reasons for providing two versioning reports
• Identification of two major groups of stakeholders
• Requesting an overview of major changes in the taxonomy
• Implement the IFRS Taxonomy into their software and
requiring detailed list of changes
• Human readable visualization of light report
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
13
Versioning approach for IFRS
• Light version report (basic changes for concepts)
– Concepts added: 201 [concept add event]
– Concepts deleted: 152 [concept delete event]
– Concepts renamed: 194 [concept name event]
• Comprehensive version report (basic changes for concepts +
detailed changes for concept attributes and resources)
– Basic changes (all basic changes for concepts)
– Changed attributes
– Added, deleted, corrected labels
– Added, deleted references
– Current approach does not document changes in presentation-,
calculation- and definition linkbases
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
14
Implementation aspects
Create raw
versioning
report
-Set documentation
path
-Definition categories
-Definition
assignments
-Create namespace
mapping
-Create role mapping
Raw
versioning
report
15
XBRL Processor
Versioning
stylesheet
Configure
versioning
stylesheet
-Set path from/to DTS
-Define mapping rules
(actions-assignments)
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
- Run XBRL processor
XBRL
versioning
report
Implementation aspects
• Based on XSL stylesheets & XBRL processor
• Semi-automatic process
– Manual
– Namespace mapping
– Definition of assignments + corresponding documentation
– Definition of the rules (assignment – action mapping)
– Automatic
– Recognition of actual change
– Grouping of actions by concepts
– Applying defined rules
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
16
Implementation aspects
• Current mechanism is able to version any taxonomy (not
IFRS specific) with minor adjustments to the stylesheet
• Current IFRS concept naming convention does not allow
recognition of renamed concept on pure basis of XBRL
attributes (this applies only to taxonomies introducing
renaming of concepts)
– Introduction of a non XBRL attribute @info:creationID for IFRS
Taxonomy concepts which is stable over releases
– Enables identification of added, removed and renamed concepts
even if @name and @id are changed
– Detailed comparison on concept attributes, relationships and
resources is done on the basis of @info:creationID attribute
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
17
Challenges and next steps
• Versioning of presentation, calculation and definition linkbases
• Dimensional versioning - improve current versioning specification
through documenting dimensional changes (not supported by
current spec)
• Ex-ante vs. ex-post explanation of changes
• Syntax changes in the specification
• Lack of clear understanding of versioning usage in the market
(documentation vs. automated change log vs. migration tool)
• Lack of software that support versioning
• Physical/structural aspects of migration (changes to file and folder
names, namespaces, URIs, web locations, etc.)
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
18
Challenges and next steps
• Improve current versioning mechanism implementing
documentation for relationship changes (presentation-,
calculation-, definition linkbase)
• Constantly feedback to versioning WG
• Consider requirements for dimensional versioning if
IFRS Taxonomy architecture changes
• Expand versioning discussion with ITA and TAWG to
agree on best practices
• Improve market understanding of versioning
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
19
March 2009
International Accounting Standards Committee Foundation XBRL team
Questions?
IASC Foundation
The views expressed in this presentation are those of the presenter,
not necessarily those of the IASC Foundation or the IASB
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
Versioning report syntax / semantics
21
• Events on concepts
• Concept add
• Concept abstract
• Concept add-child
• Concept delete
• Concept block
• Concept delete-child
• Concept no-change
• Concept balance
• Concept change-child
• Concept namespace
• Concept default
• Concept name
• Concept fixed
• Concept type
• Concept final
• Concept substitution
group
• Concept add-attribute
• Concept period type
• Concept nillable
• Concept deleteattribute
• Concept changeattribute
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
Versioning report syntax / semantics
• Events on resources
• Resource add
• Resource delete-child
• Resource delete
• Resource change-child
• Resource no-change
• Resource value
• Resource role
• Resource add-attribute
• Resource deleteattribute
• Resource change
attribute
• Resource add-child
2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org
22