Formula Linkbase Tutorial

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Presentation transcript:

Formula Linkbase Tutorial David vun Kannon Phillip Engel KPMG LLP

Organization of the Tutorial Morning Background and Motivation Afternoon Details of the current draft Implementation experience

Background XBRL 1.0 XBRL 2.0 Links inside schema “rollup” element tried to capture definition, calculation and presentation data XBRL 2.0 External linkbases Separate linkbases for different purposes Allow override and extension

A brief history XBRL core specification Formula linkbase Version 1.0 – July, 2000 Initial talks about rules and formulas – late 2001 Version 2.0 – December, 2001 Early prototype – Early 2002 Formula linkbase Spec – August, 2002 Rulebase – October, 2002 Version 2.0a – November, 2002 FDIC Call Report Project Phase I – Early 2003 Version 2.1 – December, 2003 Formula linkbase Spec– April, 2004 New formula examples – October, 2004

Motivation Why are taxonomies important? Why are external linkbases important? What kinds of linkbases are there? What are the failings of current linkbases?

Taxonomies Metadata exchange standard Definition of concepts Relationships among concepts Metadata definitions Reference parts, scenario, segment Roles and arc roles

External Linkbases Extensible metadata 3rd party linking

Kinds of linkbases Resource linkbases Relationship linkbases Label linkbase Reference linkbase Relationship linkbases Definition linkbase Presentation linkbase Calculation linkbase

Failings Calculation linkbase is… Not cross context Summation only Cannot create values Limited to concepts

How to extend XBRL New roles and arc roles, data types, etc. New modules New schemas?

New roles and arc roles Calculation linkbase enhancements Product Average Min Max Sum Count

New Modules New kinds of linkbases New kinds of Taxonomies

New schemas? Shouldn’t be controversial but they are! GL?

OTSOG “If I have seen so far, it is because I have been standing on the shoulders of giants” --Sir Isaac Newton

XBRL OTSOG W3C XML Schema XML Namespaces XML Link XML Base XPath

The Extension Process Requirements Document Modular Specification Processing model Conformance Suite Two implementations Approval and publication

Formula Linkbase Requirements Business driver What problem are we trying to solve? Technology requirements How to leverage XBRL as it is commonly understood Process driver Move forward in an orderly way that enhances 2.1 without destabilizing it.

Business Drivers Metadata exchange about analytics. Regulator to industry Self-check Analyst to client Earnings models “open source” analytics

Technology Drivers Using Taxonomies Using a Conformance Suite Using schemas Using linkbases Using a Conformance Suite Using the Infosets

Process Drivers Ensure XBRL 2.1 is viewed as adequate and stable. Enhancement module is separate and separable. Maintain the high quality of XBRL deliverables.

FL Requirements PWD Restart FL definition process using 2.1 Spring 2004 - ?? Latest version In http://finance.groups.yahoo.com/group/xbrl-formula/files/ Formula-Req-PWD-2004-04-20.doc

FL Requirements PWD (2) Use Cases Requirements Rejected requirements and use cases Important! Topics for other extensions to XBRL

FL Use Cases -Business Financial ratios Validity checks Consistency within a period Consistency across periods Reported vs. calculated data Generate error messages Generate debugging messages Movement analysis

FL Use Cases - Technology Access all aspects of items and tuples in an instance. All parts of the context Unit Precision or decimal Create all aspects of items and tuples in an instance.