XBRL Essentials: Understanding the US GAAP Taxonomy, Selecting Elements to Match your Financials

1. XBRL Essentials:Understanding the US GAAP Taxonomy, Selecting Elements to Match your Financials November 18, 2009 Presenters Gregg Saunders, Lead Taxonomist, XBRL US Christine Tan, XBRL Consultant and Professor of Accounting, Fordham University Stuart Zatkow, Director of Interactive Data Services, NeoClarus, Inc.

2. Agenda • Overview of the US GAAP Taxonomy • The XBRL Element • Choosing the right element to match to your financials • Mapping face of financial statements to taxonomies • Tagging financial statements • Creating extension elements • Defining tables – using XBRL “dimensions”

3. XBRL Document Creation Process Quality Assurance&Validation Review and approve concept selections Validate extension against the SEC rules Validate tagging against the SEC rules Validate instance against the SEC rules, review rendering using the SEC Previewer, perform test submission, modify as necessary, post to the company web site

4. Consistent Concept Identification • Different companies describe financial “concepts” differently • Fixed Assets vs. Property, Plant and Equipment • Different line items may be the same “concept” • Gain on Sale of Securities vs. Loss on Sale of Securities • Use terse and/or verbose labels for the same concept described differently within the same instance document • Unique “identifier” for each concept

5. US GAAP Taxonomy • Elements are organized into Groups • Elements are also organized into industry groupings

6. Taxonomy: Basic Files

7. Anatomy of a Taxonomy Element XBRL Element Deferred Tax Assets, Net Standard Label Name (i.e. XBRL “Tag”) DeferredTaxAssetsNet The aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; net of deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Basic Attributes Documentation Label Data Type Monetary / String, etc. Balance Type Debit / Credit Period Type Instant / Duration

8. Common Taxonomy Data Types • Monetary • String • textBlock • Shares • perShare • Decimal • dateString (see XBRL US Taxonomy Preparer’s Guide for more detail – page 22)

9. XBRL Document Creation Process Quality Assurance&Validation Review and approve concept selections Validate extension against the SEC rules Validate tagging against the SEC rules Validate instance against the SEC rules, review rendering using the SEC Previewer, perform test submission, modify as necessary, post to the company web site

10. Choosing the Right Tag • Some things to consider: • Standard Labels • Definitions (Documentation Label) • Presentation and calculation relationships with other elements • Element attributes – string? Monetary? • References

11. SEC Review Findings OID observations based on its initial review of XBRL filings* include examples: • when a standard element with a narrower definition would have been more appropriate • when a standard element with a broader definition would have been more appropriate • when the filer should have used a standard element instead of creating an extension element • when the filer should have used the same applicable elements with unique context references so as to differentiate and designate the statements to which they relate OID also noted that some filers did not provide a debit/credit balance attribute for new monetary elements created for the balance sheet or income statement *See http://www.sec.gov/spotlight/xbrl/staff-review-observations.shtml

12. Mapping the Face of the Financials • Example • Creating taxonomy extension: • First, conduct a comprehensive search within industry grouping (Statements and Disclosure Groups) • If relevant element cannot be found, search other industry groupings • Create extension element if element is not found

13. Any modification to the XBRL US GAAP Taxonomies is an extension!!! Create new relationship groups for each statement and disclosure Create your own six-digit group number, naming it to correspond with the official ASCII/HTML financial statements Create the correct link (URI) for the group Create new element relationships Add company-specific (i.e., extension) elements Create new presentation structures/trees to conform to the company financial statement presentation Create a separate presentation group for parentheticals (which must be reported as part of the standard label and in the separate group) Create new calculation structures that correspond to presentations Create and modify ‘element labels’ to conform to the companies’ official ASCII/HTML filing with the SEC. Create a terse label if an element is used in two places but is presented differently The Company Taxonomy Extension 13

14. XBRL Creation Creating the Instance Document TaxonomyCreated by XBRL Consortium TAGGING Instance DocumentCreated by Preparer Consumed Rendered

15. Example of Interactive Data Filing

16. Taxonomy: Basic Files Schema The XBRL taxonomy schema file defines the actual concepts (elements) that form the basis of a taxonomy. It stores the name, data type, period type, how they can be utilized, etc. The properties of schema elements are defined in the XBRL 2.1 Specification. Linkbases An XBRL linkbase file contains the explicit relationship definitions between the concepts defined in the XBRL schema. There are five standard linkbase types defined by the XBRL version 2.1 specification: 1) The labellinkbase allows the user to associate various labels with different roles and languages to a given concept. 2) The referencelinkbase allows the user to associate external information (authoritative sources) to concepts. 3) The presentationlinkbase defines how concepts are nested and ordered. 4) The calculationlinkbase defines how concepts sum up from one to another. 5) The definitionlinkbase defines multi-dimensional relationships and can also be used for additional semantics and relationships .

17. Taxonomy Structure – Roll Forward • A movement analysis reconciling opening to closing amounts/quantities. Cannot add instant with duration types- • Beginning of period amount or quantity • Elements constituting increases • - Elements constituting decreases • = Period increase (decrease) – this is a contrived sum created in every roll forward structure in the taxonomy that many entities do not actually report. If it is not reported, it must not be included in the instance document. • End of period amount or quantity

18. Table structure for example Example from XBRL US GAAP Taxonomy Preparers Guide 18

19. An XBRL Table provides a way to express multidimensional relationships. With an XBRL Table the preparer can tag data for line items that are distributed along one or more axes. Benefits Dimensions allow individual financial tags to be used repeatedly within the same period context. Reduces the total number of financial tags (Line items) necessary to completely tag a set of financial data. The XBRL Table 19

20. XBRL Table - Axis • Definition • Axis = container of: • An object (noun, thing) • A characteristic (adjective, feature)

21. XBRL Table – Domains and Members • Domain • Represents an entire set of other elements called Members • Used to classify facts along the axis of a table • Domain Member • Detailed component • Lowest level of relevant detail

22. XBRL Table – Line Items • Reportable information • Value • Percentage • Number • Area • Quantity • Description • Line Items = Financial Tags included in an XBRL Table

23. Table structure for example Example from XBRL US GAAP Taxonomy Preparers Guide 23

24. The XBRL Table – an example Example from XBRL US GAAP Taxonomy Preparers Guide 24

25. The XBRL Table – an example

26. The XBRL Table – an example (Inverted Axes)

27. The XBRL Table – an example (Multiple Axes)

28. Do not create a new table merely because the axes of a table are rotated. Think ‘pivot table’ instead Line items can be used outside of a table, but their value will be the same in all locations where the entity-wide context (dimensional [Domain] default) is used A line item and domain member taken together defines a fact (table data point) Context = Dimension (Axis) = Member – Calculations in XBRL do not function across context Multiple Domain elements meant to be populated by extended preparer Members For example, Segment, Geographical [Domain] XBRL Table key considerations 28

29. Useful Resources • XBRL US http://www.xbrl.us/Pages/default.aspx • Preparer’s Guide (Glossary) http://xbrl.us/Documents/PreparersGuide.pdf • US GAAP Taxonomies http://xbrl.us/taxonomies/Pages/US-GAAP2009.aspx • EDGAR Filer Manual http://www.sec.gov/info/edgar/edgarfm-vol2-v11.pdf