That could be five years or the production ofwidgets.
Label Linkbase[ edit ] This linkbase provides human readable strings for concepts. Using the label linkbase, multiple languages can be supported, as well as multiple strings within each language.
XBRL aims to become a worldwide standard for electronic business reporting. This requires taxonomies to present business data in many different languages.
Therefore, it is important to be able to create an element that is assigned with labels for different languages. There may also be different labels for different purposes.
All labels are stored and linked to the elements in a label linkbase. Elements defined in a schema are built to convey accounting meaning to computers. In order to make it easier for computers to process their names, they have to obey some rules.
Additionally, big taxonomies such as IFRS obey specific rules of naming and labelling to ensure consistency within the schema. For example, there could be a list of words that are excluded from the names, e. In the label linkbase, elements are connected to human readable labels using "concept-label" arcrole.
As mentioned above, elements can be assigned to labels in different languages. Taxonomy creators may also define different labels for one element. One of the ideas of XBRL is that the information about the period and currency for which the element is reported is not contained within an element definition but is described by a context in instance documents.
In financial reporting on the other hand, many terms express the date for which they are being reported, for instance Property, Plant and Equipment at the beginning of year and Property, Plant and Equipment at the end of year.
XBRL allows the creation of different labels depending on the context in which an element will be used.
Reference Linkbase[ edit ] This linkbase associates concepts with citations of some body of authoritative literature. Financial concepts appearing on business reports more often than not stem from regulatory documents issued by authorities.
For this reason, a taxonomy is often provided with a reference linkbase that presents relationships between elements and external regulations or standards the other solution is to enclose documentation in label linkbase.
This helps instance creators and users understand the intended meaning of each element and provides support for its inclusion in the taxonomy.
The reference layer does not contain the full text of the regulations. Instead, it points to source documents by identifying their name and indicating the relevant paragraphs and clauses. This connection is created using "concept-reference" arcrole.
|Conceptual Framework||My father was on the board of a Gulf development bank, assisting—or so they were under the impression—efforts to alleviate poverty in various African countries.|
|Trade Secrets: Coca-Cola’s Hidden Formula for Avoiding Taxes | Reporters||Investable companies are seen as having significant growth opportunities and are very attractive for private equity groups.|
There are several types of references that could be provided for each element.Not only is the Institute meeting a felt need by students but it has also achieved recognition by employers, many of whom sponsor their employees as students; and by the colleges, where the Institute’s examinations have been incorporated into business studies training programmes as a first step towards a more advanced qualification.
XBRL (eXtensible Business Reporting Language) is a freely available and global framework for exchanging business webkandii.com allows the expression of semantic meaning commonly required in business webkandii.com language is XML-based and uses the XML syntax and related XML technologies such as XML Schema, XLink, XPath, and webkandii.com use of XBRL .
Practising Law Institute, PLI, is a nonprofit learning organization dedicated to keeping attorneys and other professionals at the forefront of knowledge and expertise through our Continuing Legal Education Programs, Webcasts and Publications.
the iasb’s conceptual framework for financial reporting. A marathon accounting project The IASB’s Insurance Contracts project has been a marathon not a sprint. However, we have passed the finish line now. The IASB is developing new - and clarifying existing - guidance in response to concerns about disclosure in financial statements.
Adam Deller explains.