Chapter 6 Current State of XBRL Discoverable Taxonomy Set Extension Taxonomies Validation of XBRL vs xml IFRS Taxonomy iXBRL Corporate Actions Audit Data Standards Blockchain Data Analysis Toolkit Oh my….. There’s a lot of stuff here

Current State of XBRL

Who Must File All companies are now required to file using XBRL All companies are filing Level 1 to Level 4 footnotes Limited Liability protection has been waived Foreign Private Issuers are required to file using IFRS taxonomy Taxonomy is now (March 1, 2017) available from the SEC

SEC Filing Packages Discoverable Taxonomy Set (DTS) “A discoverable taxonomy set (DTS) contains taxonomy schemas and linkbases. The bounds of a DTS are such that DTS Components include all taxonomy schemas and linkbases that can be discovered by following links or references in the taxonomy schemas and linkbases included in the DTS. “

DTS – What must be filed with SEC Contains: Instance Document (.xml) Extension Taxonomy (.xsd) Linkbases Calculation (_cal.xml) Definition (_def.xml) Labels (_lab.xml) Presentation (_pre.xml) All Imported Schemas Filename Format Identifier-yyyymmdd.xml for instance Identifier-yyyymmdd.xsd for schema Identifier_yyyymmdd_cal.xml or _def or _lab or _pre

Extension Taxonomy Links the linkbases to the DTS Links the linkbases to the elements/documents Includes the elements used in instance document

Structure of SEC Extension Taxonomy Schema Root Element, namespace declarations (same as chapter 3) annotation/appinfo link:linkbaseRef Links all the linkbases to the schema document link:roleType Links each statement and disclosure to the linkbases

link:linkbaseRef (International Speedway Corp 10Q) <link:linkbaseRef xlink:type="simple" xlink:href="isca-20110531_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Calculation Links, all"/> <link:linkbaseRef xlink:type="simple" xlink:href="isca- 20110531_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Presentation Links, all"/> <link:linkbaseRef xlink:type="simple" xlink:href="isca- 20110531_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Label Links, all"/> <link:linkbaseRef xlink:type="simple" xlink:href="isca- 20110531_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Definition Links, all"/>

link:roleType (International Speedway Corp 10Q) <link:roleType roleURI="http://internationalspeedwaycorporation.com/role/Balan ceSheetsParenthetical" id="BalanceSheetsParenthetical"> <link:definition>0111 - Statement - Consolidated Balance Sheets (Unaudited) (Parenthetical)</link:definition> <link:usedOn>link:presentationLink</link:usedOn> <link:usedOn>link:calculationLink</link:usedOn> <link:usedOn>link:definitionLink</link:usedOn> </link:roleType>

Import schemas <xsd:import namespace="http://fasb.org/us-gaap/2012-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01- 31.xsd"/> <xsd:import namespace="http://fasb.org/us-roles/2012-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2012/elts/us-roles-2012-01- 31.xsd"/> <xsd:import namespace="http://fasb.org/us-types/2012-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2012/elts/us-types-2012-01- 31.xsd"/> <xsd:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd"/> <xsd:import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd"/> <xsd:import namespace="http://www.xbrl.org/2009/arcrole/fact-explanatoryFact" schemaLocation="http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd"/> <xsd:import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd"/> <xsd:import namespace="http://www.xbrl.org/2009/role/net" schemaLocation="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd"/> <xsd:import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12- 16.xsd"/> <xsd:import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd"/> <xsd:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd"/> <xsd:import namespace="http://xbrl.sec.gov/country/2012-01-31" schemaLocation="http://xbrl.sec.gov/country/2012/country-2012-01- 31.xsd"/> <xsd:import namespace="http://xbrl.sec.gov/currency/2012-01-31" schemaLocation="http://xbrl.sec.gov/currency/2012/currency-2012-01- 31.xsd"/> <xsd:import namespace="http://xbrl.sec.gov/dei/2012-01-31" schemaLocation="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd"/> <xsd:import namespace="http://xbrl.sec.gov/exch/2012-01-31" schemaLocation=http://xbrl.sec.gov/exch/2012/exch-2012-01-31.xsd/> <xsd:import namespace="http://xbrl.sec.gov/invest/2012-01-31" schemaLocation="http://xbrl.sec.gov/invest/2012/invest-2012-01-31.xsd"/> <xsd:import namespace="http://xbrl.sec.gov/naics/2011-01-31" schemaLocation="http://xbrl.sec.gov/naics/2011/naics-2011-01-31.xsd"/> <xsd:import namespace="http://xbrl.sec.gov/sic/2011-01-31" schemaLocation=http://xbrl.sec.gov/sic/2011/sic-2011-01-31.xsd/> <xsd:import namespace="http://xbrl.sec.gov/stpr/2011-01-31" schemaLocation="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd"/>

Extension Element (International Speedway 10Q) <element id="isca_PrepaidExpensesAndOtherCurrentAssets” name="PrepaidExpensesAndOtherCurrentAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" xbrli:balance="debit"/> Note: No longer used in current 10-Q Examine International Speedway

A Quick Example 3M’s 10K

XBRL Validation

XBRL Validation Levels Phase I xml validation (NOT XBRL) Schema validation – does the xml match the schema structure? International Speedway (will it validate?) Phase II Validates XBRL semantics in DTS Validates syntax and semantics in linkbases So if calculation linkbase indicates what is totaled for Current Assets does it agree with the Total Current Assets element? Requires specialized software ($’s) Phase III Validates XBRL based on reporting rules SEC XBRL filing requirements Over 200 rules

XBRL IFRS

IFRS Instance Document Same structure as XBRL Uses different taxonomy Root element / namespace declarations SchemaRef Context Unit Items

IFRS Taxonomy 2017 Taxonomy Compared to US GAAP, ~ 4000 elements vs. 17,000 Documentation is not included in IFRS (as it is NOT rule based). Instead disclosures and example references are included

<?xml version="1.0" encoding="utf-8"?> <!-- XBRL instance shell - Skip White December 2010 --> <!-- File name: XBRLInstanceShell2010.xml --> <xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns: _____1_________ > <link:schemaRef xlink:type="simple" xlink:href= _____2_________ /> <xbrli:context id= _____3_________ > <xbrli:entity> <xbrli:identifier scheme= _____4_________ > _____5_________ </xbrli:identifier> </xbrli:entity> <xbrli:period> <xbrli:instant> _____6_________ </xbrli:instant> </xbrli:period> </xbrli:context> <xbrli:unit id= _____7_________ > <xbrli:measure> _____8_________ </xbrli:measure> </xbrli:unit> <!-- Insert the XBRL items (facts) below --> </xbrli:xbrl>

Corporate Actions XBRL Taxonomy

What is a corporate Action? Something that affects the equity or debt issued by a public company Made by the Board of Directors Examples: Cash or Stock Dividends Stock Splits Mergers and/or Acquisitions

Corporate Action requirement The issuer (the company) issues an ISO 20222 message “Hey an action may have an effect on… as a result of …” Sent to Financial Services Registrar Who keeps track of who owns the shares/bonds of the issuer Re-entered, Re-arranged, translated, etc. to be sent to owners and regulatory bodies (e.g. SEC)

Corporate Actions Taxonomy Like UBL Intended to streamline corporate action filings

Corporate Action Taxonomy Four Criteria for each Action/Event: Type of Event Market in which event occurs (currently only U.S.) Type (equity, debt, other) Mandatory or Voluntary Status (Confirmed, Unconfirmed, Preliminary) Yes I know that’s 5! All reported in a 4 (5) dimensional table Called a HyperCube

Corporate Action is XBRL <xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:ca="http://xbrl.us/corporateActions/2012-03-31"> <link:schemaRef xlink:type="simple" xlink:href="http://taxonomies.xbrl.us/corpactions/2012/ca/US/Equity/CashDiv/Mand/ca-US-Equity-CashDiv-Mand-ent-2012-03-31.xsd"/>

Table Axes Each Axes Event, Market, Issue, & Security Holder, Status Type Axes is defined as an Explicit Member of a Segment in a Context Structure.

Table Context Structure <xbrli:context id="ContextCashDividendUSEquityMandatory"> <xbrli:entity> <xbrli:identifier scheme="http://www.citibank.com/xbrl">Citibank</xbrli:identifier> <xbrli:segment> <xbrldi:explicitMember dimension="ca:EventTypeAxis">ca:CashDividendMember</xbrldi:explicitMember> <xbrldi:explicitMember dimension="ca:MarketTypeAxis">ca:UnitedStatesMember</xbrldi:explicitMember> <xbrldi:explicitMember dimension="ca:IssueTypeAxis">ca:EquityMember</xbrldi:explicitMember> <xbrldi:explicitMember dimension="ca:MandatoryVoluntaryAxis">ca:MandatoryMember</xbrldi:explicitMember> dimension="ca:StatusAxis">ca:PreliminaryMember</xbrldi:explicitMember> </xbrli:segment> </xbrli:entity> <xbrli:period> <xbrli:startDate>2014-12-01</xbrli:startDate> <xbrli:endDate>2014-12-01</xbrli:endDate> </xbrli:period> </xbrli:context>

Corporate Action Facts <ca:UniqueUniversalEventIdentifier contextRef="ContextCashDividendUSEquityMandatory">Citibank123456</ca:UniqueUniversalEventIdentifier> <ca:DocumentTitle contextRef="ContextCashDividendUSEquityMandatory">Dividend Announcement</ca:DocumentTitle> <ca:AnnouncementDate contextRef="ContextCashDividendUSEquityMandatory">2014-12-01</ca:AnnouncementDate> <ca:EventType contextRef="ContextCashDividendUSEquityMandatory">Cash Dividend</ca:EventType> <ca:OrdinaryShare contextRef="ContextCashDividendUSEquityMandatory" unitRef="shares" decimals="INF">1</ca:OrdinaryShare>

AICPA Audit Data Standards Lots of Stuff but we aren’t covering it today!

Other Stuff

Uses of XBRL (FDIC) Call Reports Quarterly reports from banking institutions 125 data items Call Report Taxonomy developed by Federal Financial Institutions Examination Council Responsibility of Validation rests with Banks This is contrasted with XBRL where validation takes place by SEC

AICPA SOP 13-2 Principles and Criteria for XBRL Formatted Information Performing Agreed-Upon Procedures Engagements That Address the Completeness, Mapping, Consistency or Structure of XBRL- Formatted Information” Principles and Criteria for XBRL Formatted Information

Florida Governmental Reporting CS/CS/CS/HB 1073 — Department of Financial Services Begins the process of creating the Florida Open Financial Statement System to allow better access to financial reports filed by local governments and provides a $500,000 appropriation;

Open Financial Statement System It is the intent of the Legislature to create the Florida Open Financial Statement System, an interactive repository for governmental financial statements. The Chief Financial Officer may choose contractors to build one or more eXtensible Business Reporting Language (XBRL) taxonomies suitable for state, county, municipal, and special district financial filings and to create a software tool that enables financial statement filers to easily create XBRL documents consistent with such taxonomies. If the Chief Financial Officer deems the work adequate, all local governmental financial statements for fiscal years ending on or after September 1, 2022, must be filed in XBRL format and must meet the validation requirements of the relevant taxonomy. A local government that begins filing in XBRL format may not be required to make filings in Portable Document Format.