US-GAAP 2009 Release (Accounting)

No, there is no element for this concept. The taxonomy was structured to calculate a net operating income (loss) and net non-operating income (loss). We believe the element should be included in the taxonomy and will add it to the 2010 taxonomy.  In addition, we will consider including an alternative presentation and calculation for companies that report in this manner.

In the interim use the following element "Costs and Expenses, Operating and Nonoperating" with the element name "CostsAnd ExpensesOperatingAndNonoperating". This item differs from the existing item "Costs and Expenses" which does not include non-operating expenses.

Last modified on Thursday, May 21, 2009 by Campbell Pryde

Interest income and interest expense are separately disclosed on the income statement. However we have created the net item for those cases where a company presented interest income and interest expense as line items, and also included interest income (expense), net.

There are companies that show only interest income (expense), net on the face of the income statement and disclose interest expense in the footnotes.

The tag was included in the US GAAP taxonomy to provide for those registrants that report interest income (expense), net on the face of the income statement a means to tag the amount.

Last modified on Monday, June 08, 2009 by Campbell Pryde

As reported by the Financial Accounting Standards Board (FASB), the FASB will release the authoritative version of the FASB Accounting Standards Codification ^TM as of July 1, 2009. The Codification will represent the single source of authoritative US GAAP other than SEC guidance.  The Codification will supersede all previous authoritative US GAAP standards including the related  references used in the 2009 US GAAP taxonomy other than SEC references. 

The FASB will provide XBRL-US with an interim US GAAP taxonomy extension that includes the Codification references that align with the 2009 taxonomy.  This taxonomy extension will be made available in July.  The taxonomy extension will include links to the FASB Codification website at http://asc.fasb.org.

The 2010 release US GAAP taxonomy will incorporate Codification references

Last modified on Thursday, June 25, 2009 by David Tauriello

 US-GAAP 2009 Release (Technical)

The 2009 Release consolidates some of the dimensions (axes on tables in a company's financial statement) so that if a dimension was used in more than one table, the same dimension element could be used.

In some cases, the same dimension element is used for two tables, but not for the same full set of members (fields on the axis). If two tables are defined in the same extended link role (grouping), it is not possible to define a different set of members on each table. In the 2009 Release, each table is defined in its own extended link role. This allows the tables to share some parts of the dimensional information, but not all.

Although shared extended link roles are valid, the intention of the dimension specification is that tables should each be in a separate DRS (discoverable relationship set). The DRS is the way that all the relationships needed for a table are grouped together. This approach of using separate extended link roles follows this philosophy.  It makes the tables more flexible for extension.

In most cases, to create the extended link roles for the definition linkbase, we copied the presentation role and appended the table name to the end of the URI. The exception is if the table name and the presentation extended link role description match, then the same extended link role used for the presentation links would also be used for the definition links for that table. This is found in the Schedule of Investments (i.e. “Investment Holdings [Table]”). In either case, each table in the 2009 Release is defined in its own extended link role.

Therefore, a large number of the extended link roles used in the definition linkbase in the 1.0 Release are no longer used for defining tables.

To determine which tables apply to which presentation extended link, look at the prefix number on the extended link to match them.    Please note that the two are not semantically linked and in fact the tables defined in all definition extended links apply to all presentation extended links, the same way that a calculation defined in an extended link is applicable to all facts in an instance.

To link the presentation to the definition, parse the number out of the link definition. A mapping table between the two has also been provided in an excel format (see link below).

 The changes to the extended link roles should not have an impact on a company’s instance.

For more information:

Last modified on Monday, June 08, 2009 by David Tauriello

The affect of closed or opened tables happens when tables share common dimensions. The tables in Release 1.0 did not share common dimensions and so was not significant. In the 2009 Release tables do share dimensions. If the tables remained open some facts in an instance document may be interpreted in the wrong table.

For example, the item "Investment Owned, at Fair Value" appears in two tables "Schedule of Investments [Table]" and "Investment Holdings [Table]". The "Schedule of Investments [Table] only has one axis "Legal Entity [Axis]". When the investment owned is used in this table, it is intended to represent the total value of investments owned for the legal entity. The "Investment Holdings [Table]" further breaks down the investment owned by investment (security). This table includes the "Legal Entity [Axis]" and the "Investment [Axis]".

For example, assume there are three facts for investment owned: $100 for the total for the mutual fund (legal entity axis), $35 for security A (investment axis) for the same mutual fund and $65 for security B (investment axis) for the same mutual fund. If the tables are closed, the two values for security A and B will never appear in the "Schedule of Investments [Table] because these facts have a member for the "Investment [Axis]" which is not part of the table. If the tables are open, then all three values would be interpreted for the value of investment owned for the "Schedule of Investment [Table]" for the mutual fund (three values for a single intersection). This happens because when the tables are opened, the extra axis (in this case "Investment [Axis]") is ignored. Since most tools only show one value for an intersection, the results are unpredictable.

Last modified on Tuesday, May 19, 2009 by Campbell Pryde

 During the year a number of items were identified that were duplicates or were superseded because of accounting changes.  Rather than deleting these items they are deprecated. This means that the items are still in the taxonomy but are moved into the extended presentation link "990000 - Deprecated  Concepts". In addition:

1. A deprecated label was added to the item detailing why it was removed and what element should be used in its place. 
2. A deprecated date was added that describes the date the item was deprecated. 
3. The Standard Label and Total Label were changed to include the deprecated date.
4. Definition links were defined that semantically define the nature of the replacement item.

The definition links defined for deprecated items are as follows:

essence-alias: Indicates that the replacement item is the same in every respect except that the element name is different.

dep-concept-deprecatedConcept: Indicates what the replacement item is for the deprecated item.

dep-aggregateConcept-deprecatedPartConcept:  Indicates that the deprecated item is combined with another deprecated item to a define a new replacement item.

dep-dimensionallyQualifiedConcept-deprecatedConcept: Indicates that the deprecated item has been qualified by a dimension. The item is removed because that same value now appears in a table.

dep-mutuallyExclusiveConcept-deprecatedConcept: Indicates that the deprecated item can be replaced by 2 or more replacement items but cannot be split between the replacement items.

dep-partConcept-deprecatedAggregateConcept: Indicates that the deprecated item can be replaced by 2 or more replacement items and can be split between the replacement items as the issuer deems appropriate.

Last modified on Tuesday, May 19, 2009 by Campbell Pryde

These tables represent items defined in a table that are further qualified by additional dimensions.  This presentation format occurs in the Schedule of Investment Tables and the Schedule of Capitalization Table. 

The child relationship between 2 tables means that the child table will have its own dimensions (axis) but also inherits the dimension (axis) of the parent table. The parent table has its own line items but also inherits the line items of its child tables. This inheritance is explicitly defined in the definition linkbase where the tables appear as two separate tables unrelated to each other in seperate extended links. The presentation structure is simply adopted to make the overlap in the dimensions (axis) of the related tables clear to the user.

Last modified on Tuesday, May 19, 2009 by Campbell Pryde

Yes, you will have to update your extension for the 2009 taxonomy. Software vendors are working on tools to do this automatically but these will not be ready in time for most reporters. In the interim you should do the following:

You will need to change the following files:

1. {CompanyName}-YYYYMMDD.xsd
2. {CompanyName}-YYYYMMDD_cal.xsd
3. {CompanyName}-YYYYMMDD_pre.xsd
4. {CompanyName}-YYYYMMDD_lab.xsd
5. {CompanyName}-YYYYMMDD_def.xsd

Update the Schema File

Take your existing extension schema file (.xsd) and change the references from the 2008  taxonomy to the 2009 taxonomy. These are recorded at the top of your .xsd extension file. The extension file will probably have the following 3 import statements.

Each import statement refers to components of the 2008 taxonomy.  These need to be changed to point to the 2009 taxonomy.  You can use a standard text or xml editor such as "textpad" to do this.  The extension schema file should be revised as follows:

Table 2

There may be additional import statements in your extension schema,  if there are they should be changed in a similar manner.

Update Linkbases

After updating the extension schema file (.xsd) each of the linkbases need to be updated to point to the 2009 taxonomy. In the presentation linkbase locators or "link:loc" statements will point to the 2008 taxonomy.  These linkbase files need to be changed to point to the 2009 taxonomy. Table 3 shows an extract of a presentation linkbase that points to the 2008 taxonomy.

Table 3

To update the presentation, calculation, label and definition linkbase extensions to point to the 2009 taxonomy the most effective method is to find and replace text using an XML or text editor.  For each linkbase do a global find and replace of the following:

Step 1:

FIND: "http://xbrl.us/us-gaap/1.0/"

REPLACE WITH: "http://taxonomies.xbrl.us/us-gaap/2009/"

Step 2:

FIND: "-2008-03-31"

REPLACE WITH: "-2009-01-31"

In the label linkbase and the presentation linkbase there could be a link:roleRef that references the negated label role. (See Table 3) This needs to be updated because this role was removed from the US-GAAP 2009 Taxonomy. 

Step 3: Identify the link:roleRef statement below in your linkbase.

Table 4

<link:roleRef roleURI="http://xbrl.us/us-gaap/role/label/negated" xlink:href="http://xbrl.us/us-gaap/1.0/elts/us-roles-2008-03-31.xsd#negated" xlink:type="simple"/>

Step 4: Replace the link:roleRef statement with the following:

Table 5

<link:roleRef roleURI="http://xbrl.us/us-gaap/negated/2008-03-31" xlink:href="http://www.xbrl.org/lrr/role/negated-2008-03-31.xsd#negated" xlink:type="simple"/>

Update Extension Content

The extension should now work with the 2009 taxonomy.  However you will also need to check that no deprecated items are included in your updated linkbases. Open your XBRL extension with an XBRL taxonomy editor and search for the word deprecated. All deprecated items have the word deprecated in the label so should be easily identifiable.  Ensure you have none of these in your presentation, calculation or definition hierarchies.  If you identify deprecated items, you will need to identify a replacement element and replace the deprecated element.  The deprecated label on the element will instruct you which element to consider using as a replacement.

You will also need to add additional elements for changes in disclosure.  For example the Income statement, Balance Sheet, Cash Flow and Statement of Shareholders Equity will have to be modified to address accounting changes for FAS 160. The 2009 Taxonomy has presentation and calculation templates which can be copied to make this process easier.

In addition, you will need to update your instance for items that have been removed (deprecated) from the 2008 taxonomy.  A list of all changes to the taxonomy are available in the Release Notes.

Last modified on Friday, June 05, 2009 by Campbell Pryde

This element is included in the base set of elements but is not included in any network related to the Commercial & Industrial Taxonomy (C&I). There are a number of elements that are not included in the C&I Taxonomy but can be used by C&I companies if they are relevant to the company’s operations.  The "InterestIncomeAndInterestExpenseDisclosureTextBlock" element is included in the Banking and Savings Taxonomy and is linked in the presentation extended link “940050 – Disclosure – Financial Services, Banking and Thrift, Interest”.

If you want to see all the elements in the taxonomy and where they are linked you can see all of these elements in the entire taxonomy view.

Last modified on Monday, June 08, 2009 by Campbell Pryde

Download a .zip of the 2009 Taxonomy in an excel format

Last modified on Tuesday, June 09, 2009 by David Tauriello

 US-GAAP All Releases (SEC Filing)

Refer to the SEC FAQ Question number 20.

Last modified on Friday, June 05, 2009 by Campbell Pryde

Inclusion of Parenthetical Disclosures

Section 6.6.14 of the Edgar Filing manual states the following:

“An instance must contain a fact for each amount disclosed parenthetically in line items that appears on the face of the financial statements of the corresponding official HTML/ASCII document.” 

The following parenthetical disclosure would result in two facts disclosed in the instance:

Figure 1: Parenthetical Disclosure in the Financials

The two facts included in the instance would be as follows:

For example, note that even if Receivables had been $1,000 at the end of 2006 with no allowance for doubtful accounts not material enough to be parenthetically disclosed, that would not make it a Gross Receivables figure, and the net value would nevertheless be reported as <us-gaap:AccountsReceivableNetCurrent unitRef="usd" decimals="-3" contextRef="FY06e">1</usgaap: AccountsReceivableNetCurrent>

Location of Parenthetical Disclosures

Section 6.7.12 of the Edgar Filing manual states the following:

“A Statement that contains parenthetical disclosures on one or more rows must have a base set immediately following that of the Statement, where all facts in its parenthetical disclosures appear in presentation relationships.”

This means that filers must declare a link:roleType or extended presentation link to contain the parentheticals in each statement, immediately following the disclosure where the parentheticals appear.  For example the parenthetical extended presentation link for parentheticals in the balance sheet should be defined as follows:

02 - Balance Sheet

03 - Balance Sheet (Parenthetical)

Structure of Parenthetical Disclosures

Section 6.14.4 of the Edgar Filing manual states the following:

“all elements of facts corresponding to parentheticals in the original HTML/ASCII document must be the targets only of effective presentation arcs in one base set and all having the same source abstract element.”

This means that filers must declare a link:roleType or extended presentation link to contain the parentheticals in each statement, as shown in the example above.  They must also use an abstract element to serve as a heading for every parenthetical in that statement. Normally, this would be the same abstract element used as the parent for us-gaap:AccountsReceivableNetCurrent. In the example above, the element us-gaap:AccountsReceivableNetCurrent appears in the balance sheet statement, so this rule would be satisfied with a presentation arc from the element us-gaap:BalanceSheetAbstract to the target us-gaap:AllowanceForDoubtfulAccountsReceivable in a separate extended link from the main balance sheet statement itself.

Figure 3: Parenthetical Disclosure in the SEC Viewer

Assigning a Label for the Parenthetical Element

Section 6.11.2 of the Edgar Filing manual states the following:

“Assign a label of a parenthetical element the same text as the corresponding text in the original HTML/ASCII document, ignoring minor differences such as capitalization and removing period-specific words.”

 For example the line item listed below: 

Would be tagged as two elements with the following labels:

The registrant assigns the element us-gaap:AllowanceForDoubtfulAccountsReceivable a label of “(Less allowances).” The appropriate xlink:role attribute for this label is ‘http://xbrl.us/us-gaap/role/negatedLabel’ showing the value as negative. 

Calculation of Parenthetical Elements

Section 6.15.2 of the Edgar Filing manual states the following:

“A balance sheet shows Net Current Receivables with a parenthetical value for Allowances. Only two values are shown, so no calculation arc is required. In general, parentheticals do not, by themselves, require calculation arcs.”

Parentheticals and Dimensional Tables

When parentheticals are shown in a table the values of the parenthetical items are not entered for each dimensional intersection.  The value for the parenthetical does not have to be qualified by a dimension.  In Figure 6 the item "Dividends ($.07 per share)" has a value at the intersection of Dividends and Retained Earnings of (24,589). The corresponding disclosure of Parenthetic $0.07 per share would not be qualified by the retained earnings dimension.

Figure 6 : Statement of Shareholders Equity

Figure 7 shows that the $0.07 per share is tagged to Dividend per common share and is not represented in a table as allocated to Retained Earnings.

Figure 7: Parenthetical Disclosure of Dividends Per Share in the SEC Viewer

Last modified on Wednesday, June 17, 2009 by Campbell Pryde