managing the ifrs-gp taxonomy mai 17, 2006, madrid overview of the ifrs-gp extension framework,...

Managing the IFRS-GP Taxonomy

Mai 17, 2006, MadridMai 17, 2006, Madrid

Overview of the IFRS-GP Extension Overview of the IFRS-GP Extension Framework, Versioning Issues and Framework, Versioning Issues and

MaintenanceMaintenance ConsiderationsConsiderations

Josef MacdonaldJosef Macdonald IASC Foundation XBRL Practice FellowIASC Foundation XBRL Practice Fellow

Maciej PiechockiMaciej PiechockiMichal PiechockiMichal PiechockiHarald SchmittHarald Schmitt

IASC Foundation XBRL TeamIASC Foundation XBRL Team

2Managing the IFRS-GP Taxonomy

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

Overview


Background

IFRSs adoption: over 90 countries

XBRL adoption: 21 XBRL Jurisdictions

IFRS-XBRL Jurisdictions: 15

Global financial and business reporting standardsTransparent and independent

IFRS-GPTaxonomy

eXtensible Business Reporting Language

International Financial Reporting Standards


IFRS-GP Taxonomy: Contributors & Users

XBRL Consortium

Issues, Comments, New Technologies

Institutions &

IFRS Jurisdictions

Demo Projects

15 IFRS-XBRL Jurisdictions

Projects, FeedbackIssues, Comments

IFRS-XBRL Mailing List

FeedbackIssues, Comments

IFRSsStrategy Objectives

IASC Foundation XBRL Team


IFRS-GP: Development & Publication ProcessIFRS Standards

Release

IASCF / IASBInitial Taxonomy

Drafts

Internal Review & Validation

Taxonomy Release

IFRS Requirements

BusinessEntitiesReview

XBRLTRP / TAP

Taxonomy Update

Issues & CommentsIssues & Comments

Business Entities IASCF XBRL Team XBRL Consortium


IFRS-GP Taxonomy: PFS & EDAP

XBRLGlobal Common

Document(GCD)

IASCFExplanatory

Disclosures &Accounting Policies

(EDAP)

IASCFPrimary

FinancialStatements

(PFS)

NationalExtension

IndustryExtension

NationalIndustry

Extension

CompanyExtension

EntityInstance

Document

Imports

Extends/Limits

Extends/Limits

Describes

AccountantReport(AR)


Background



PFS & EDAP






Extension Framework


Translations


Overview



Accounting UpdatesRevisions 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 UpdatesModularisation of the Explanatory Notes Disclosure section

Address issues of taxonomy versioning:Extension versus stand-alone version?


IFRS-GP Taxonomy: Architecture


Background



PFS & EDAP






Extension Framework


Translations


Overview



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


IFRS-GP Management: Extension Framework

IssuesHow 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

SolutionExtension Framework will foster the adoption of IFRS-GP

Guidance on how to build IFRS-GP extensions is required

A common extensions framework is required


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


IFRS-GP Management: Translation

Taxonomy labels translationQuality assurance required

Timing restrictions

Multiple label linkbases foster the adoption of the IFRS-GP Taxonomy

IP issues


IFRS-GP Management: Education & Guidance

New website launched February 2006XBRL Library

XBRL Lab for new technologiesRSS I-TSI

XBRL News: main XBRL mailing listsIssues, summaries,

announcementsRSS feed

IFRS-GP Guidance Materials

A Presentation by the IASC Foundation XBRL Team

managing the ifrs-gp taxonomy mai 17, 2006, madrid overview of the ifrs-gp extension framework,...

Documents