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Formula Linkbase Tutorial

This tutorial explores the evolution and implementation of Formula Linkbase in XBRL, discussing its history, motivation, taxonomies, external linkbases, and extensions, with a focus on metadata exchange and analytics enhancement. Learn about failings of current linkbases, kinds of linkbases, and how to extend XBRL with new roles, modules, and schemas.

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Formula Linkbase Tutorial

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  1. Formula Linkbase Tutorial David vun Kannon Phillip Engel KPMG LLP

  2. Organization of the Tutorial • Morning • Background and Motivation • Afternoon • Details of the current draft • Implementation experience

  3. Background • XBRL 1.0 • Links inside schema • “rollup” element tried to capture definition, calculation and presentation data • XBRL 2.0 • External linkbases • Separate linkbases for different purposes • Allow override and extension

  4. A brief history Formula linkbase XBRL core specification • Version 1.0 – July, 2000 • Initial talks about rules and formulas – late 2001 • Version 2.0 – December, 2001 • Early prototype – Early 2002 • Formula linkbase Spec – August, 2002 Rulebase – October, 2002 Version 2.0a – November, 2002 FDIC Call Report Project Phase I – Early 2003 Version 2.1 – December, 2003 • Formula linkbase Spec– April, 2004 • New formula examples – October, 2004

  5. Motivation • Why are taxonomies important? • Why are external linkbases important? • What kinds of linkbases are there? • What are the failings of current linkbases?

  6. Taxonomies • Metadata exchange standard • Definition of concepts • Relationships among concepts • Metadata definitions • Reference parts, scenario, segment • Roles and arc roles

  7. External Linkbases • Extensible metadata • 3rd party linking

  8. Kinds of linkbases • Resource linkbases • Label linkbase • Reference linkbase • Relationship linkbases • Definition linkbase • Presentation linkbase • Calculation linkbase

  9. Failings • Calculation linkbase is… • Not cross context • Summation only • Cannot create values • Limited to concepts

  10. How to extend XBRL • New roles and arc roles, data types, etc. • New modules • New schemas?

  11. New roles and arc roles • Calculation linkbase enhancements • Product • Average • Min • Max • Sum • Count

  12. New Modules • New kinds of linkbases • New kinds of Taxonomies

  13. New schemas? • Shouldn’t be controversial • but they are! • GL?

  14. OTSOG • “If I have seen so far, it is because I have been standing on the shoulders of giants” --Sir Isaac Newton

  15. XBRL OTSOG W3C • XML Schema • XML Namespaces • XML Link • XML Base • XPath

  16. The Extension Process • Requirements Document • Modular Specification • Processing model • Conformance Suite • Two implementations • Approval and publication

  17. Formula Linkbase Requirements • Business driver • What problem are we trying to solve? • Technology requirements • How to leverage XBRL as it is commonly understood • Process driver • Move forward in an orderly way that enhances 2.1 without destabilizing it.

  18. Business Drivers • Metadata exchange about analytics. • Regulator to industry • Self-check • Analyst to client • Earnings models • “open source” analytics

  19. Technology Drivers • Using Taxonomies • Using schemas • Using linkbases • Using a Conformance Suite • Using the Infosets

  20. Process Drivers • Ensure XBRL 2.1 is viewed as adequate and stable. • Enhancement module is separate and separable. • Maintain the high quality of XBRL deliverables.

  21. FL Requirements PWD • Restart FL definition process using 2.1 • Spring 2004 - ?? • Latest version • In http://finance.groups.yahoo.com/group/xbrl-formula/files/ • Formula-Req-PWD-2004-04-20.doc

  22. FL Requirements PWD (2) • Use Cases • Requirements • Rejected requirements and use cases • Important! • Topics for other extensions to XBRL

  23. FL Use Cases -Business • Financial ratios • Validity checks • Consistency within a period • Consistency across periods • Reported vs. calculated data • Generate error messages • Generate debugging messages • Movement analysis

  24. FL Use Cases - Technology • Access all aspects of items and tuples in an instance. • All parts of the context • Unit • Precision or decimal • Create all aspects of items and tuples in an instance.

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