1.1.14 Inconsistent Balance Attribute

This guidance is archived. See Components of Roll Forwards with Income and Expense Items for updated Best Practice Guidance.

Issue
In a number of cases the balance type of an element defined in the taxonomy is inconsistent with its definition. For example an element representing a gain for a durational period is defined with a debit balance or alternatively a loss is defined with a credit balance. This incorrect balance attribute is further confirmed in a subsequent release of the taxonomy where the attribute is changed. In this case should the filer assume the taxonomy is incorrect and assume the gain should be a credit and tag the item as if it was a credit? Alternatively, should the filer follow the taxonomy and report the item as a negative value or should they create an extension element that matches the tag in the latest published taxonomy if one is available?

Recommendation
The filer should follow the attribute defined in the taxonomy that is being used to file even if it appears incorrect. In the case where a gain is defined as a debit the filer would enter the item with a negative value. The filer should not create an extension element to correct the balance attribute.