Elements that should not be reported with negative values. Documentation includes a list of elements tested.
Approximate Public Exposure Periods for DQC Rules and Guidance
- April 15 – May 31
- July 15 – August 31
- November 15- December 31
Public review and comment is a critical part of the process of improving the usability of XBRL filed with the SEC. Generally, rules are considered for approval within 45 days of the close of public exposure for comment, and should be implemented in all filings within 90 days of approval.
In its latest Public Review period – version 15 – the Data Quality Committee sought comment on nine new rules, including Fact Value Consistency Over Time for filers using the IFRS Taxonomy, plus updates to Non-negatives for US GAAP filers using the 2021 taxonomy (DQC_0015), from April 15 through May 31.
The latest plugin releases are linked at right. See the schedule in the inset box for approximate public exposure period timing.
Rules and Guidance Recently Exposed for Comment
The rule identifies where the text block “Schedule Of Acquired Finite Lived Intangible Assets By Major Class Text Block” is used with a value on the Business Acquisition Axis.
The rule identifies those facts that are only expected to grow over a reporting period. This rule is intended to identify those cases where the value of a monetary fact has a larger value reported than the value reported for another fact that represents the same concept, but over a longer duration of time. The rule also identifies any elements that cannot be negative but may increase or decrease over a measurement period. The rule excludes the following elements that meet this category, CapitalExpendituresIncurredButNotYetPaid and ConstructionInProgressExpendituresIncurredButNotYetPaid.
This rule consists of a number of parts that check concentration risks are reported correctly. All of the parts use the line item ConcentrationRiskPercentage1. The correct reporting of concentration risk requires use of multiple dimensions. The Concentration Risk by Benchmark Axis and Concentration Risk by Type Axis are required for all disclosures. A third axis (e.g., Major Customers Axis or Statement Geographical Axis) may be used to disaggregate the data.
This rule identifies where the company has reported the details of a specific acquisition but has not identified the actual acquisition. It also identifies those cases where the aggregate consideration transferred for the reporting period has not been reported using appropriate dates. This rule will flag errors for those cases where the company has not used the Business Acquisition Axis. The rule looks for those cases where the element BusinessCombinationConsiderationTransferred1 has been used with no dimensions but has been reported with a duration period less than the reporting period by 20 days.
This rule is intended to identify those cases where the company reports facts that are expected to include the business acquisition axis. The rule checks a list of line item concepts are reported with the business acquisition axis and a member representing the actual acquisition.
This rule ensures that filers use the correct elements to identify the Gross Payments and the Net Payments for business acquisitions. This rule is intended to identify those cases where the company reports the total “Payments To Acquire Businesses Gross” with an amount that is less than the value of “Payments To Acquire Businesses Net Of Cash Acquired”.
This rule is intended to identify those cases where the company reports the values of Assets acquired and liabilities assumed excluding goodwill, the value of assets acquired and liabilities assumed including goodwill and the value of goodwill. The rule flags an error when the value net of goodwill plus goodwill does not equal the amount including goodwill. This rule will only run on those facts that use the BusinessAcquisitionAxis.
This rule ensures that filers consistently use the same element across durations of time. This rule flags an error for those cases where the value of a monetary fact has a larger value reported than the value reported for another fact that represents the same concept, but over a longer duration of time. This is based on the list of items that cannot be negative. Of these, the rule only identifies those concepts that are monetary and have a period of a duration.
This rule is intended to identify those cases where the company reports facts that are expected to include the Asset Acquisition Axis. The rule flags an error when specific line item concepts are reported without the Asset Acquisition Axis and a member representing the actual acquisition.